1. How Millennials Are Saving More Money Than Past Generations
MONEY
NewsUSA
NewsUSA
(NU) - Sponsored News - Millennials may still have a way to go before totally gaining their
footing as adults, but many are already better at one thing than past generations: saving mon-
ey.
That’s one of the findings of Fidelity Investments’ intriguing second biennial “Millennial
Money Study.” Yes, 47 percent of those surveyed confessed that their parents have helped them
cover expenses since being on their own -- and that includes everything from cell phones (21
percent) to clothing (16 percent) to rent/mortgages (12 percent). But most have apparently used
that cushion to help start socking bucks away.
How much bucks? Well, not only do 62 percent have an investment account, but -- are you
ready? -- 59 percent have a fatter emergency fund, totaling an average of $9,100, than both Gen-
Xers or Baby Boomers.
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