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Financial Savvy of African American Grads – OnlineBusinessDegree.org

The majority of young African American college graduates consider themselves more financially disciplined planners than their predecessors, finds a recent report by Northwestern Mutual and independent research firm Ipsos.

According to the survey, 70% of African American college graduates aged 18-34 described themselves as disciplined or highly disciplined financial planners, compared to 47% aged 35 and older who thought so.

The survey also reveals that 41% of all grads felt financially prepared to live to age 75, while 27% were prepared to live to age 95.

The survey examined life planning among grads, and there were clear differences between genders. Fifty-two percent of male African American grads were more likely to have a financial plan in place compared to only 35% of women.

Concerning attitudes toward financial planning, the survey finds 31% of African American grads have a cautiously optimistic approach to savings and investments.

The survey was conducted online between June 5-11 and polled 250 African American college graduates.

Follow Valerie Jones on Twitter @ValerieJonesCMN

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