The current economic situation is proving to be tough for Generation Z, as fewer than a third of them reported being able meet their monthly financial obligations, a survey by DailyPay, in partnership with the Harris Poll, has found.

As reported by Fast Company, only 28 percent of the 300 people aged 18 to 25 polled said that they can pay all of their bills on time, compared with 56 percent of Americans overall. That means that more than seven in 10 Gen Z-ers cannot.

The pessimism induced by inflation was also reflected by the eight in 10 who felt that the economy will either stay the same or decline over the next 12 months. Almost the same number (78 percent) said they have either not been able to save as much money this year as in 2021, or saved around the same amount.

Only 21 percent believed the U.S. economy will improve over the next year.

The survey found that that 54 percent of members of Gen Z have chosen to live with their parents. And 33 percent worried that high inflation will make it more challenging for them to buy a home of their own.

"It’s no surprise that many say current economic conditions are keeping them living at home and/or worrying about paying bills on time,” Jeanniey Walden, chief innovation and marketing officer at DailyPay, told Fox Business. “Potentially most concerning is that Gen Z does not feel they are able to save for the future.”