Call them the forgotten generation. Sandwiched between the baby boomers and millennials, Generation X often gets overlooked by the media and politicians, perhaps because there’s relatively few of them (65 million) compared to boomers (77 million) and millennials (83 million). Yet this generation — made up of people born between the mid-1960s and the early 1980s — has plenty on its plate, as reflected in financial concerns.
Financial website GoBankingRates recently asked people to rank their biggest financial fears, and then it broke down the survey results by age. Gen Xers, it turns out, are way more worried than their younger counterparts about losing their money in the stock market and more stressed out than boomers about paycheck-to-paycheck living. Keep reading to find out more about the financial fears that are keeping Gen Xers awake at night.
1. Having a low credit score
Six percent of younger Gen Xers (those between the ages of 35 and 44) and 4% of older Gen Xers (those ages 45 to 54) were worried about always having a low credit score. In fact, the former cohort worried about this particular issue more than any other age group.
It’s true that a low credit score can hold you back financially, but the good news is it’s easier to fix than many people realize. Reducing your debt, paying bills on time, and cleaning up any errors on your credit report can do a lot to improve your standing with the big credit agencies.
Next: Never being able to buy a house