Better Money Habits® Millennial Report

Millennials are a group that will shape our nation’s economic landscape for decades to come. Over the course of two years, Bank of America has worked with USA TODAY to survey thousands of millennials and parents of millennial children to gain insight into their money mindset. Here is the latest from the Fall 2015 edition of the report.

Our Fall 2015 report found:

  • While 84 percent of millennials are confident in their ability to manage their finances, 41 percent are “chronically stressed” about money
  • Millennials’ top areas of financial stress include not putting enough money into savings, spending more than they should and facing adulthood
  • Even though they’re confident in their ability to manage them, they feel less experienced in their actual knowledge of finances (17%) as opposed to their expertise in things like social media (34%) and food (33%)
  • Millennials spend the same amount of time tending to personal finance as they spend working out (3 hours avg. on each per week). Yet only 40 percent believe they are currently financially fit, while 61 percent are physically fit

For complete findings, download the Fall 2015 report

Download the Spring 2015 report

Download the Fall 2014 report

Those who worry, do so often

Millennials who worry about money: 82% Worry once a month or more, 58% Worry once a week or more, 30% Worry about having enough money to last through the end of the month, 22% Worry about not having enough money to make it until the end of the week, 23% Worry they won't have enough to retire.
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The material provided on this website is for informational use only and is not intended for financial or investment advice. Bank of America and/or its affiliates, and Khan Academy, assume no liability for any loss or damage resulting from one’s reliance on the material provided. Please also note that such material is not updated regularly and that some of the information may not therefore be current. Consult with your own financial professional when making decisions regarding your financial or investment options.

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