Financial Stress Delays Big Life Choices For Gen Z, Millennials: Deloitte Survey

Financial pressure and rising living costs have continued to shape the personal and professional decisions of Gen Z and millennials globally, with 47 per cent of respondents from both groups saying they live paycheck to paycheck, while 34 per cent struggle to cover monthly living expenses, according to the 2026 Gen Z and Millennial Survey by Deloitte.

The report has found cost of living remains the top concern for both generations for the fifth consecutive year, influencing spending patterns, savings behaviour, housing affordability and career choices, according to Deloitte’s Global 2026 Gen Z and Millennial Survey.

Cost Of Living Remains The Biggest Worry

The survey has found 38 per cent of Gen Z respondents and 42 per cent of millennials have ranked cost of living as their biggest concern, ahead of unemployment, political instability and climate change.

Financial vulnerability has remained widespread. Along with 47 per cent living paycheck to paycheck, 34 per cent of both generations have said they struggle to pay all monthly expenses.

Despite this, financial sentiment has improved slightly. About 53 per cent Gen Z respondents and 45 per cent millennials have said they expect their personal financial situation to improve over the next 12 months.

Long-term financial concerns have also had an impact on mental health, with 44 per cent Gen Z and 39 per cent millennials reporting that concerns about their finances to be a major cause of stress.

Housing Costs Impact Career Decisions

Finding affordable housing options remain one of the major concerning points among young professionals. A majority, around 69 per cent Gen Z, and 64 per cent millennials, have stated that housing availability or affordability directly affects where they can work and the career opportunities they consider.

At the same time, 51 per cent of Gen Z respondents and 40 per cent millennials have said they cannot afford to buy a house.

The findings have suggested rising rents, high property prices and borrowing costs are making home ownership harder, delaying wealth-building and limiting job mobility.

Financial Stress Pushes Back Life Milestones

Monetary pressures have also delayed major personal and financial decisions. Around 55 per cent of Gen Z and 52 per cent millennials have said they have postponed decisions such as marriage, starting a family, launching a business or pursuing higher education because of their financial condition.

The report has described this as a “maybe later” mindset, where younger generations are delaying long-term commitments until they feel more financially stable.

Additional income sources have become increasingly common. Nearly 30 per cent Gen Z and about one-quarter of millennials have reported having a side job alongside their primary employment. Among those with side jobs, 44 per cent Gen Z, and 48 per cent millennials have said financial necessity was the main reason.

Higher Pay Remains Key Career Driver

Although only 6 per cent respondents from both generations have said leadership positions are their primary career goal, income has remained a major motivation for long-term career advancement.

Among those considering leadership roles in the future, 53 per cent Gen Z, and 57 per cent millennials have said higher compensation would make such roles more attractive.

Flexible work arrangements have also remained important, cited by 42 per cent Gen Z, and 44 per cent millennials.

Increased financial stability, steady income increases and affordability are becoming more important to young professionals than fast career moves, as continued economic uncertainty and rising living costs squeeze household budgets.