January 26, 2018

,

Bank of America Survey Finds That Millennials Are Getting Their Financial Houses in Order

Bank of America Survey Finds That Millennials Are Getting Their Financial Houses in Order
Share This

Findings show that the majority of millennials have savings goals and maintain a budget.

Millennials (age 23-37) are just as good as or better than older generations when it comes to money management habits, according to a Bank of America Better Money Habits® Millennial Report released this week. 63% of millennials are saving, and are more likely to have a savings goal (57%) than Gen Xers (42%) and Baby Boomers (42%).

Despite that, saving enough remains a top source of stress for 35% of millennials. Still, they are increasing their savings: 47% have $15,000 or more in savings (up from 33% in 2015) and 16% have $100,000 or more (up from 8% in 2015).

Bank of America has taken a pulse on millennials’ money mindset over the last four years. Its Better Money Habits free financial education platform provides the tools and information young adults can use to make sense of their money and take the steps they desire to improve.

Congratulations Bank of America Corporation!