Narcissistic, tech-savvy, self-absorbed, lazy, financially irresponsible—these are some of the things that have been said about millennials. They often get a bad rap. But are these assumptions correct? When it comes to money matters, 75% of them do admit that they overspend, and 64% thinks their generation is poor at handling finances. On the flip side, a good 63% of millennials areactually saving. Just like not all baby boomers are hippies, not all millennials make terrible financial decisions.
When you think about it, it’s good that they’re aware of their money mishaps as it can encourage them to sort it out before it worsens. Like older generations, millennials will eventually know when it’s time to save, invest, and plan for their long-term financial goals. Despite others’ opinions, millennials remain to be a resourceful and resilient generation. And contrary to the negative stereotype, millennials don’t just care about “likes”. They care about their finances, too. Check out the visual guide below as it reveals the figures about millennials’ money habits.