According to a recent survey from a U.S. bank rate monitor, the younger generation watch their finances closer than older generations.
The survey with 1002 adults in the United States showed only 33 percent of respondents aged 18-29 owned credit cards, compared to 55 percent of those aged 30-49 and 68 percent of participants aged 65 and older. One possible theory for millennials’ hesitation to credit cards could be that they were witnesses to the financial crash of 2008, and even though the economy has improved, millennials still haven’t warmed to the idea of using credit cards.
Another survey from an investment firm also found people aged 18-34 are better at budgeting and watch their spending more than older generations.
Do you think that millennials are actually better with their money nowadays?