Millennial Views on Wealth & Investing During the Pandemic

The overwhelming impact of the pandemic on the economy has put the pressure on Millennials to achieve financial security and build generational wealth.

Burdens on Millennials have increased and include a growing sense of financial insecurity along with social unrest. The spending and investing trends of Millennials during the COVID-19 pandemic are much different than the way Millennials managed their money in previous years, understandably so.

Recently moneyunder30.com surveyed 2,000 Millennials in regards to their spending and investing habits. Below are some of the results.

  • About two-thirds of Millennials say that the pandemic has had a positive effect on their financial situation.
  • Concerning building wealth: Over 66% of Millennials interviewed are interested in learning how to invest their money, 61% believe that now is a good time to start investing, 20% plan to start investing, 27% are already investing in the markets.
  • Many Millennials have saved money on dining out and on utilizing ride-sharing apps due to stay-at-home mandates.
  • Online shopping has increased among Millennials, as they have been forced to work-from-home, resulting in shopping out of boredom.
  • Despite the uptick in online shopping, more Millennials are interested in learning more about wealth and money management than in previous years.

As more companies transition into working remotely, Millennials are finding new opportunities to turn typical 9-5 positions into multi-client contract work. Innovation has become the norm in every industry, and the technically savvy Millennial generation are primed to take advantage of this historic period. Millennials should be optimistic in their ability to solidify income streams and potentially build wealth in a post-COVID-19 economy. For more useful tips, information and advice on financial empowerment, follow us on Facebook at: facebook.com/SignalFinancialFCU.   We’re also on Twitter and Instagram at: @signalfcu

-Written by James Fleet, Member Relationship Specialist

Digital Member Support will be temporarily unavailable today between 11:00 AM -12:00 PM.

Due to vendor delays in the embossing of debit and credit cards, you may experience a delay in receiving your new or reissued cards. We apologize for the inconvenience.

Martin Luther King Jr. Day

All branches and the digital member support team will be closed on Monday, January 16, 2023 in observance of Martin Luther King Jr. Day.

For expedited assistance please dial 240-512-8240 to connect directly to our Digital Member Support.

All branches and Digital Member Support will close on Saturday, December 31st and Monday, January 2nd in observance of the New Year.

Signal Financial branches will close at 12:30pm on Friday, December 23rd. Digital Member Support will operate from 9:00am - 1:00pm.

All branches and Digital Member Support will close on Saturday, December 24th, Monday, December 26th, Saturday, December 31st and Monday January 2nd in observance of the Christmas and New Year holiday.

On Wednesday, December 7th the One Loudoun branch will close at 2:00 PM and all other Signal Financial branches will close at 3:00 PM

Due to system upgrades, online and mobile banking will be unavailable from 10:00pm Tuesday, Jan. 17 to 3:00am Wednesday, Jan 18.

The Capitol Hill branch and ATM are temporarily closed.

President's Day

All branches and the call center will be closed on Monday, February 21, 2022 in observance of Presidents’ Day.

Closure Notice

Due to inclement weather all Signal Financial branches are closed today. ATMs, mobile and online banking services are fully operational 24 hours a day and 7 days a week.

Digital Member support will close at 12 PM on Saturday, October 1st. Online banking and ATMs are available 24/7. Our apologies for any inconvenience.

Labor Day Closure

All branches and the call center will be closed on Monday, September 5, 2022 in observance of Labor Day.

Independence Day Closure

All branches and the call center will be closed on Monday, July 4, 2022 in observance of Independence Day.

Juneteenth Closure

All branches and the call center will be closed on Monday, June 20 in observance of Juneteenth.

Memorial Day Closure

All branches and the call center will be closed on Monday, May 30, 2022 in observance of Memorial Day.

Presidents’ Day Closure

All branches and the call center will be closed on Monday, February 21, 2022 in observance of Presidents’ Day.

New Years Day Closure

All branches and the call center will be closed on Friday, December 31 and Saturday, January 1 in observance of New Year's Day.

The Capitol Hill, City Center and Leisure World branches will be closed on Thursday, December 30th, 2021. We apologize for any inconvenience. Have a safe Holiday!

Christmas Holiday Closures

All branches and the call center will be closed on Wednesday, February 1, 2023 and Monday, December 25, 2023 in observance of the Christmas holiday.

Thanksgiving Holiday Closures

All branches and the call center will be closed on Thursday, November 23, 2023 and Friday, November 24, 2023 in observance of the Thanksgiving holiday.

Veterans Day Holiday Closure

All branches and the call center will be closed on Friday, November 10, 2023 in observance of the Veterans Day holiday.