Lazy. Entitled. Self-absorbed. No work ethic.
These are a few common phrases you may hear thrown around about
the devil generation Generation Y.
Amongst the stereotypes, is the sentiment that Gen Y are absolutely terrible at saving money.
BUT ALAS! Hold onto your flat brim caps, kids. A new study has shown that Generation Y (the generation born roughly between the early 80s and the late 90s) has are leading the way when it comes to saving money.
Yes. Gen Ys are better at saving money than their parents.
According to the 2013 National Savings and Debt Barometer survey by RaboDirect, 29 per cent of Gen Y save a ‘regular’ amount each month, compared to only 19 per cent of Baby Boomers and 25 per cent of Gen X.
This from SmartCompany:
The founder of Wealth Enhancers, Sarah Riegelhuth, 32, told SmartCompany Gen Y is becoming savvier at saving.
“From the GFC… Gen Y realised the heyday of investments was over. We came through high school and into university and at that time the GFC shocked everyone into line,” she says.
“In the past four to five years they’ve started to save. However, what we’re seeing is they’re not taking the next step to invest.”
So there you have it. Looks buying cask wine and mi goreng for dinner is working out well for the twenty-somethings of today.
And let’s just pretend the whole living-at-home thing has nothing to do with it. K?
What do you think? Do you think the year you were born has anything to do with whether or not you’ve a good saver? What are you saving/spending habits like?
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