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Millennials Are Saving More Money Than Other Generations

October 30, 2017

Apparently all that advice about saving money is being heed.  A new survey from Bankrate found 60% of millennials reported they are limiting their spending in some way to save money for the future. That particular reason beat out others like cutting spending in order to pay off debt or concern about job security or stagnant incomes. Just 25% of respondents from other generations who cut costs cited the same reason. And 74% of the youngest millennials (ages 18 to 26) were most likely to say they're setting aside money for the future. Study after study has revealed millennials do place a higher priority on savings and a lot of that stems from having a front row seat for the financial crisis and, for the older millennials, they were witness to the dog-com bust, too.

SOURCE: CNN (CAUTION: Autoplay)

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