Stunning survey reveals many young adults have no idea how to file taxes, iron clothes, or write a check!
TEL AVIV, Israel — It turns out most young adults have no interest in being an adult! A new survey finds that the majority of Gen Zers and millennials (63%) claim they’re suffering from burnout because of all the adult responsibilities they now have on their plates. Moreover, a large portion of these young adults don’t even know how to carry out simple “adulting” tasks — like tying a tie or writing a check!
The poll of more than 1,000 Gen Z and millennial adults, commissioned by Insuranks.com, notes that the oldest Gen Zers are now 26 years-old and more than half are over the age of 18. Meanwhile, the oldest millennials are in their 40s currently.
Despite having plenty of years of “real world” experience under their belts now, the survey finds many young adults still have a lot of catching up to do. Nearly one in five Gen Z respondents (17%) admit they don’t know how to write out a check. Meanwhile, 29 percent of millennials don’t know how to change a diaper.
Younger generations also probably prefer working from home and the business-casual look, since 46 percent have no idea how to tie a tie. Another 41 percent are unable to sew up holes in their favorite pieces of clothing.
When it comes to driving, 63 percent of Gen Z and millennials respondents can’t complete an oil change on their car. Nearly half (48%) can’t change a tire and 42 percent don’t know how to jumpstart a car.
When will they figure it all out?
Nearly three in five young adults (57%) say they’re still struggling to figure out this whole “adulting” thing. More specifically, four in five Gen Zers are struggling with adulting and 49 percent of millennials say the same. Along with feeling burnt out, another 63 percent claim they weren’t prepared for the responsibilities of adulthood. A frightening 22% admit they don’t know how to file taxes, which won’t bode well for them come April.
Only one in five (19%) Gen Zers think they’ll figure everything out by the time they’re 30. Perhaps even worse, over a quarter of millennials say they think they’ll still be struggling with adult tasks into their 40s!
The biggest issue for young adults is, of course, money! Two in three say managing money is their biggest struggle as an adult. Just under half (49%) think saving for retirement is their toughest adult task, followed by saving money to buy a home (48%) and finding a job they like (45%).
It turns out plenty of young adults are struggling to feed themselves too! Thirty-five percent of respondents find it difficult to plan out meals. In fact, a staggering 46 percent give up and opt for a cheap and easy package of ramen noodles.
Four into 10 struggle to maintain their relationships as an adult. With that in mind, 26 percent of married Gen Zers and millennials think their marriage is the hardest part of being an adult — they should probably keep that a secret from their spouse!
Sadly, as young adults get older, so do their parents. More than one in three (36%) say their toughest adult task is taking care of aging parents and family members.
Mom, can I have some money?
Gen Zers and millennials may technically be adults, but the poll finds plenty of them still wish they had an allowance! One in three don’t feel financially independent, including 54 percent of Gen Z respondents. Moreover, over half of Gen Zers are still living with their parents — compared to 19 percent of millennials.
With all these financial struggles, it’s no surprise that 22 percent of young adults say their parents have helped them with their rent or mortgage in the last year. One in three respondents say their parents have given them money to help pay their expenses. Overall, 41 percent of young adults believe they still rely way too much on their parents as an adult.
When it comes to living on their own, 49 percent of millennials feel most like an adult when they buy a home. Unfortunately, 49 percent think they’ll never be able to afford a house.
In January 2023, Insuranks.com surveyed 1,050 Gen Zers and Millennials to ask them how they feel about adulting. Respondents ranged in age from 18 to 42 with an average age of 31. 49% were men, 48% women, 2% non-binary/non-comforming, and 1% transgender. 27% were Gen Z and 73% were Millennials. Gen Zers were identified as anyone 18-26 and Millennials were identified as anyone 27-42.