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World News

Survey reveals Christian Millennials give three times more money to charity than their non-religious counterparts

by Alex Collett

According to a new survey young Christian adults, are three times more likely to give money to both religious and non-religious charities than their non-Christian counterparts.

A published survey by Life Way Research asked a total of 905 young adults between the ages of 25 and 40 about how they spend their money.

The respondents of the study included 495 Christians and was conducted in partnership with the Christian financial institution AdelFi, between January 18 and 22.

LifeWay Research CEO Scott McConnell in a statement said: “AdelFi was interested in understanding what differences exist in how younger Christians handle their money compared to non-Christians.

“One would expect Christians to give more than non-Christians to churches and religious organizations, but they are also more likely to donate to 3 out of 4 other types of recipients.

“While overall the financial generosity of Christian young adults is very noticeable, there remains a large group who don’t practice their belief in the need to give to a local church.”

Within LifeWay’s research just over one third of young adults- 36 percent- agree their religious faith influences their financial decisions.

LifeWay’s research also found that the average US young adult does business with 2.4 financial institutions, which includes loan accounts, checking accounts, savings accounts and 1.9 percent has credit cards.

However 23 percent don’t have an active credit card.

The attitudes that young adults also have toward spending money varies too.

Overall 45 percent of young adults say they track what they’ve spent money on, and 45 percent say they save for what they want to buy.

Furthermore another 41 percent say they set a budget they follow and fewer say they often buy things impulsively 28 percent or get a loan or finance purchases when needed of which is 16 percent.

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