Millennials – they’re the generation that’s now more likely to hold a bachelor’s degree and living at home with parents for longer stretches. It seems they’re topping the charts year after year in areas that will help them be more financially prepared later down the road, and yet – they’re struggling with money now more than ever.
In fact, only one-third of millennials are even thinking about financial goals – and even fewer are staying on top of things by checking their credit scores and reviewing an annual budget.
This spring, Navy Federal teamed up with Forrester Research to better understand the financial habits, behaviors and outlooks of the millennial generation in 2017 – and figure out how financial institutions can help. What we found? Even though millennials think they’re financially on track, their bank accounts tell a different story. Not to mention, many millennials are navigating these murky waters alone, relying heavily on their own research and personal contacts for financial advice.
Military Millennials and Their Money – 2017 Report
Over the next few weeks, we’ll be spotlighting results of our 2017 Millennials and Their Money survey, right here on the Navy Federal Blog. Today, we’re kicking things off with a colorful overview of our findings. Check out the infographic below – and be sure to check back in weekly for financial tips and advice to help you (or a millennial you know). And remember – no matter where you do your banking, your financial institution is there to discuss your unique needs and guide you to the products and services that will help you manage your money with confidence.