1 in 4 Americans' No. 1 Daily Thought is Money

New survey discovers the biggest money challenges and fears of 2015

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Sep 09, 2015, 07:45 ET

LOS ANGELES, Sept. 9, 2015 /PRNewswire/ -- Americans are thinking more about money on a daily basis than their jobs, health and fitness or love lives, according to new survey data from leading personal finance website GOBankingRates.com.

The complete 2015 Life + Money survey findings are presented in whitepaper format as well as an infographic.

GOBankingRates identifies America's biggest challenges, thoughts and fears about money in 2015.

To see the full survey findings, go to
gobankingrates.com/lifemoney2015

Other standout findings from the survey include:

1 in 5 people say their biggest money challenge is sticking to a budget.
Always living paycheck to paycheck is the No. 1 financial fear of Americans today, followed by living in debt forever.
20% of Americans say planning for retirement is their primary financial focus.

"We want to help Americans understand how to process their financial concerns and prioritize goals, especially as it relates to their various life stages," said Casey Bond, editor-in-chief of GOBankingRates.com. "Our studies show younger generations think differently about money and debt than their parents and grandparents, but the common theme is all types of people need some level of assistance with financial planning. This data offers insights for men and women of all ages that can help them change how they think about money for the better."

Millennials Vs. Boomers¹

While older millennials' (25-34) No. 1 daily thought is money, younger millennials (18-24) ponder most about their love lives, and boomers think most about work.
Planning for retirement is five times more challenging for baby boomers than it is for young millennials (34% vs. 7%).
Baby boomers are almost three times more afraid of never being able to retire than young millennials (24% vs. 9%) and twice as likely to be afraid of having their identity stolen.
Young millennials are twice as afraid of always living paycheck to paycheck as baby boomers.

Men Vs. Women

Women's No. 1 thought is money more often than men.
Men are more afraid than women of losing money in the stock market, losing their jobs and not being able to retire.
Women are more fearful of always living paycheck to paycheck than men (25% vs. 18%).
Planning for retirement is more of a financial challenge for men than it is for women (20% vs. 17%).

Demographic insights are also available for income and geography within the full survey findings.

Methodology: The 2015 Life + Money Survey is comprised of findings from five Google Consumer Surveys conducted in July and August, 2015. Sample sizes range from 1,000 to 10,003 respondents of U.S. adults ages 18 and older. All surveys are representative of the U.S. internet population with a margin of error of 2.2% or lower. For the complete methodology, visit gobankingrates.com/lifemoney2015.

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About GOBankingRates

GOBankingRates.com is a leading portal for personal finance and consumer banking information, offering visitors the latest on everything from finding a good interest rate to strategies for saving money, investing for retirement and getting a loan. Its editors are regularly featured on top-tier media outlets, including U.S. News & World Report, Forbes, Business Insider, Daily Finance, Huffington Post and more. It specializes in connecting consumers with the best financial institutions and banking products nationwide.

Contact:

Connie Lundegard
GOBankingRates.com
[email protected]
310-297-9233 x 112

¹ For this survey analysis, young millennials were defined as adults ages 18-24; older millennials were defined as adults ages 25-34; and baby boomers were defined as adults ages 55-64. These are the ranges provided by Google Consumer Surveys.

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SOURCE GOBankingRates