This Is the Biggest Financial Worry for Millennials
A new report by Facebook indicates that millennials are not as
financially illiterate as some believe, as 86 percent are saving money each
month. Millennials account for 40 percent of financial conversations on the
social media platform, with female users accounting for more than 60 percent of
content involving peer-to-peer payments, loans and mortgages, banking,
investments, and credit cards. The report also reveals that 68 percent of
millennials do not feel like they are understood by their bank; close to 50
percent are open to changing banks, credit card companies, or brokerage
accounts; and 33 percent describe their current bank in unflattering terms.
Twenty-five percent of millennial respondents believe credit cards will worsen
their financial standing, and those who use credit cards do so primarily to
build credit (46 percent) and increase their financial flexibility (36
percent). However, 57 percent of millennials would rather pay with cash.
From "This Is the Biggest Financial Worry for Millennials"
CNBC News (01/25/16) Whitten, Sarah
From "This Is the Biggest Financial Worry for Millennials"
CNBC News (01/25/16) Whitten, Sarah
No comments:
Post a Comment