Europe a concern, but rates don't rate with Gen Y

by Adam Smith10 Feb 2012

Europe has been tipped as the major factor influencing Gen Y's financial decisions, while interest rates failed to cause concern.

A Loan Market poll has found that Gen Y are the more likely generation to cite the Eurozone situation as the factor most impacting their financial decisions over 2012. Seventy-four per cent of Gen Y respondents tipped Europe as the greatest factor impacting their confidence, compared to 61% of the total survey respondents.

Interest rates had little influence on Gen Y respondents. Only 6% expressed any concern over interest rates, as compared to 19% of the total poll.

Rising unemployment was also a major factor for the poll's respondents. Fifteen per cent said rises in the jobless rate would affect their financial decisions. Only five per cent tipped the resources boom as the most influential economic factor.

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