Psychologists are calling it ‘millennial meltdown’, with experts warning that young adults are struggling to deal with the pressures of job hunting, cost of purchasing a house and paying bills.
The growing problem is also being dubbed a ‘quarter-life crisis’ and is said to be hitting those aged between 20 to 34 the hardest.
“A quarter-life crisis is a very real thing and lots of us are dealing with it these days,” psychologist Marny Lishman told 7 News.
Recent studies show Generation Y is more confused about their career path and life goals then previous generations.
The ever-increasing demand placed on house affordability is also cited as adding to the stresses of daily life.
One in four young adults are still living at home with their parents in a bid to cope with life pressures.
“Gen Y have little choice but to stay at home and try, if they’re going to buy, save for a deposit,” Curtin associate professor Steven Rowley said.
“Family is the way to go when you need to save money,” Tom a 24-year-old told 7 News about why he moved home recently with his parents.
“I was living pay-to-pay. I had no money,” Tom said.
Also the pressure of finding a full-time job after studying is also another added stress for the generation.
According to experts however the best thing young adults can do is not compare themselves to others.
“Getting married, having children, we’re looking at other people who have that and we don’t,” Ms Lishman said.
“There’s a bit of anxiety there. Now we have more options where we can travel more, we don’t have to have children so early.”
Psychologists also warned parents it was time to lay of nagging of their kids.
“Parents need to not pressure them,” Ms Lishman added.