NORTHAMPTON, Mass (WWLP) - The young people, specifically, are those who were just leaving high school when the recent recession hit. One survey is showing their attitudes about money are different than generations before them.
The recession left a series of challenges for the younger generation. One young man from Palmer, in his early twenties, told 22news the recession has made it tough to even think about saving money.
"I think people are less aware of that and do everything based on now in the moment and they don't really think too far ahead," Brian Waite said.
Experts from UmassFive Federal Credit Union told 22News college kids are coming out of school with more debt than previous generations, but they're not necessarily getting the jobs to pay for that debt.
They also explained that having seen the money troubles the generations before them had, they are making adjustments to their financial lives.
"So I think they're just taking a little different attitude then maybe what their parents were like, back 20 years ago. They're being more cautious and astute with regard to what it is all about, budgeting and spending plans and so forth," John Reske, from UmassFive, said.
College junior, J.P. Chandler from Northampton, said he feels lucky his parents did save enough to pay for his college, but now he's worried about life after college.
"I have some ideas for what I would want to do, but I don't know as of yet if any of them are financially realistic, or if I could get a job with a good enough pay so that I could start a life," Chandler told 22News.
The survey showed that young people today place little importance on vacation homes and new cars, but that they value those things more than young people surveyed in the 1970's.