Despite the challenges facing them, it seems European millennials are much more optimistic than the generation X’ers or baby boomers when it comes to their personal financial outlook.

When comparing millennials with baby boomers, millennials were almost twice as likely (37%) as baby boomers (20%) to believe their personal financial situation in the next 12 months would improve. The opposite is also true, as almost twice as many baby boomers (30%) than millennials (17%) believe their financial situation would get worse in the next 12 months.

Although this optimism increases the more highly educated the respondent, even millennials with no or low education were optimistic, with one-third believing their financial situation would improve, compared to only 17% of baby boomers with no or low education.

Is this simply the optimism of youth? Perhaps not, as other studies have found that when comparing millennials and other generations when they were of the same age, millennials are still the most optimistic generation to date. One thing is for sure though: if millennials can harness the power of this optimism for other issues, the world could become a much better place.

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Note: Generational age boundaries are not widely agreed upon, but for the purposes of this article we have taken the more commonly used boundaries, i.e. Millennials are taken to be born between 1983 and 2004 , Generation X between 1965 and 1982, and Baby Boomers between 1946 to 1964.