Creating a savings account sets you up with some fallback money in case of an emergency, but as this survey proves it's not the first place that people funnel their money when they have other expenses to meet. The HowMuch.Net surveyed Millennials ages 18 to 34, and the resulting data showed that most people don't actually have very much money in their savings account. Here's how it all broke down:
While there are certain Millennials who have a pretty big cushion in terms of savings (mostly because they make more money overall) most Millennials - over half! - have under one thousand dollars in the bank. That might have to do with the fact that many people in that bracket are college students who can't save up much money while getting an education, but it's still not an ideal statistic.
visit http://localhost/articles/testing112 pic.twitter.com/N02ACok03c— Howmuch_tweets (@howmuch_tweets) December 11, 2015
Prioritizing savings can help set one up for the long run, so it's definitely something that should be in the back of everyone's mind. Tucking a few bills away whenever possible may help grow your account so that you have something stashed away for when you need it most.