New Study Affirms Savings Habits of Millennials » Mortgage Masters Group

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They’re building good savings habits. Compared with older generations, millennials are more likely to be saving for a goal, more likely to have a written plan for their financial goals independent of meeting with a financial adviser, and more likely to set savings targets before pulling the trigger on an unaffordable purchase.

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My retirement is very under-funded. I do have more savings than most people, but it isn’t enough to change my lifestyle in any big way. A couple things. I am not here to complain about my lot in life,

New Study Affirms Savings Habits of Millennials Mortgage Masters Group In follow-up research to a November 2014 report on millennials’ financial habits, Bank of America and usa today surveyed 1,000 millennials and 1,005 parents of millennial children to examine the parental influence on the money habits and views of today’s young adults and.

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Bank of America study shows millennials are doing a good job of stashing away money. Around one of six millennials has at least $100,000 in savings. Nearly half have $15,000. Their habits are nothing to scoff at either, with nearly three of of four millennials creating and sticking to a budget each month.