Gen Z is most optimistic about money 2022 finances

Not worried about your money situation in 2022?

Chances are, you’re part of Gen Z.

According to Bankrate’s December Financial Security Index, that cohort is the most optimistic about personal finances next year, with 51% saying they believe their financial situation will improve.

Financial optimism then drops with each successive demographic: 42% of millennials, 32% of Gen Xers, 23% of younger baby boomers, 18% of older baby boomers, and 14% of the Silent Generation.

Fueling the hopefulness of Gen Z and millennials is their making more money at work, the survey determined, while having less debt is what puts a swing in the step of boomers.

Those who weren’t optimistic about what 2022 will bring pointed the finger at inflation, which was cited by 79% of boomers, 73% of Gen Xers, and 53% of millennials.

Overall, two-thirds of Americans consumers are pessimistic about their personal finances in the coming year, according to Bankrate. More than 50% point to inflation as the culprit.

“Inflation worries have dragged consumer confidence to a decade low and is the top reason Americans don’t expect their finances to improve, and particularly to get worse,” Bankrate’s chief financial analyst, Greg McBride, said in a written statement. “This feeling goes far beyond gas prices, as inflation has broadened out and consumers see higher prices at every turn.”