Young and Thrifty? The Myth of YOLO Lifestyle for Millennials (The Economist)

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Judging by recent newspaper headlines, you wouldn’t be wrong to think that the financial state of millennials is in disarray. As a recent Financial Times article described it, “the concept of savings seems so futile, they [millennials] spend freely, insisting on a #yolo lifestyle…despite their restricted means.”

But youthful bashing aside, the media may be off the mark. Data from the United Kingdom shows that 16-to-34-year-olds have a savings rate that is higher than the overall average population, as well as the rates of those in their thirties, forties, and even fifties. Read the article.

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