A Foolish Take: Millennials Are More Frugal Than You Think
A seemingly endless number of reports assert that millennials are spendthrifts with poor saving habits. It's an image that people have broadly come to accept: In a recent Merrill Edge survey, only 8% of respondents saw millennials as "very good savers" -- compared to 54% for seniors, 45% for Baby Boomers, and 19% for Gen Xers.
Yet that same survey revealed millennials are actually saving more money than older generations, in terms of the percentage of their annual incomes they set aside.
Source: Fool.com