Complete honesty moment: saving money is second nature to me.
Even as a teenager, when you’re supposed to be a little reckless with your cash, I was hoarding the dollars I made in that amusement park ice cream stand like I’d never make another. In college, when my friends were complaining of bank accounts with less than $20 in them, I never went below $1,000. And in the past 3 years, I have managed to save $60,000 as a single lady all on her own, and that even excludes anything I contributed to retirement. Like I said, I’m a natural.
However, this isn’t the case for most millennials. In this 2016 GoBankingRates study, they found that 72% of young millennials (18-24) have less than $1,000 saved, and 31% have no savings at all. It doesn’t get much better for the older millennials (25-34) either: 67% have less than $1,000 and 34% have nothing saved.