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· It’s an “alarming” trend, according to Ryan Bailey, head of Bank of the West’s retail banking group. “Millennials are so eager to become homeowners that some may be inadvertently cutting off their nose to spite their face.” He recommends relying on savings rather than dipping into your retirement funds.
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Millennials increase their savings but financial security slips. "Keeping a good savings account is something I think would really help me survive something like that." His self-assurance isn’t uncommon. A new bankrate survey finds millennials, like Markey, are the age group most comfortable with their financial situation.
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[np-related] But Jeffrey Schwartz, executive director at Consolidated Credit Counselling Services of Canada Inc., says students should shoulder some of the responsibility for their indebtedness and.
For anyone looking to get a handle on what makes the influential millennial consumer tick, don’t forget this simple truth: not all millennials are alike. referencing a Boston Consulting Group study.
New Study Affirms Savings Habits of Millennials. Millennials, who are defined in the report as being between the ages of 23 to 37, are saving (63 percent) and are meeting their savings goal (67 percent). This youthful demographic is more likely to say they have a savings goal (57 percent) when compared to members of Gen X (42 percent) and Baby Boomers (42 percent).
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