According to a new report, more than half of millennials are going through a “quarter-life” crisis.
A new report from First Direct bank and psychologist Dr. Oliver Robinson revealed that six in 10 millennials are experiencing a “quarter-life” crisis. This crisis may include dealing with financial, career, and social pressures.
In a survey of 2,000 millennials in the UK, the primary source of “quarter-life” crises was financial pressures. 53 percent of those surveyed admitted that they were spending more than they earned each month.
Other millennials reported that they were facing stress as a result of issues such as of trying to find the right job and being in the right relationship.
“There are two sides to a quarter-life crisis,” Dr. Robinson said. “They’re often feared as periods of difficulty and distress, but in my experience they can also be times of openness, curiosity and growth.
“People may find old habits and coping mechanisms no longer help in the way they used to, and this can act as a spur to explore new ideas, new activities and new ways of overcoming life’s challenges,” he added.
A shockingly low 36 percent of respondents said that they have felt happy lately. Only 27 percent of respondents said that they are optimistic about the future.
Zoe Burns-Shore, who helped conduct the survey, said that young people are going through changes at a different time in their lives than those in previous generations.
“We know people today go through major life changes in a way that’s so different to previous generations,” she said. “First direct has never been about telling people what to do, but we know this is a very real issue for many people today.”