Teamsters President Delivers Fiery, 'Drain the Swamp' Address at Republican Convention
We Have Another Major Update on Trump Assassination Attempt
I’m Not Interested In Unifying With Leftists Right Now
Following the Attempt on Trump's Life, We Nominate the Worst Media Coverage
Trump’s Near Miss — The Day George Washington’s Words Came To Life
An Assassination Attempt Was Inevitable
Trump Rewrites Republican Convention Speech to Focus on Unity, Not Biden
Tone Down the Rhetoric
The Republican Party Platform is Good
Trial Lawyers Are the Only Winners From Arbitration Restrictions
Half an Inch From a Civil Crisis
DEI Is Transitioning to Die
The Riots That Never Happened
KJP Warns Biden Won't Change His Rhetoric, as Biden Won't Even Admit He's...
Joe Biden's Latest Plan to Combat Inflation Is a Joke

Yikes: More Than Half of Millennials Have Less Than $1000 in Savings

A new survey of Millennials (those between the ages of 18 and 34) by How Much shows that more than half of them have less than $1,000 in savings.

For those surveyed, we found that:

  • 51.8% of Millennials have less than $1,000 in savings.

  • 18% of Millennials have savings of $1,000 to $5,000.

  • 7.3% of Millennials have savings of $5,000 to $10,000.

  • 6.4% of Millennials have savings of $10,000 to $20,000.

  • 16.5% of Millennials have savings of more than $20,000.


This is a little disturbing. For some unknown reason, it has become relatively trendy to discourage Millennials from taking care of their finances and to save money for retirement--or to save money at all. As a 24-year-old Millennial (and, admittedly, one who has taken multiple spur-of-the-moment trips that probably weren't necessary but definitely were fun), I understand the temptation to spend, spend, spend, but I also recognize the fact that I'd like to eventually retire someday (and move to Disney World). While I certainly don't have $20,000 in savings (which, considering I've been in the workforce for about two years, isn't all that shocking), I'm apparently in the minority of my peers because I have a solid rainy-day fund in case something happens. And this is distressing--a person who doesn't save runs the risk of running into serious debt if something goes wrong, like car trouble or a busted laptop. Debt isn't good, and can easily be avoided.

Millennials should be encouraged to save, not to spend money they don't have.


Join the conversation as a VIP Member


Trending on Townhall Videos