Millennials* learned about saving money at a young age and their parents encouraged them to save, according to a recent study by PNC Bank. However, they received less guidance on investing. Here are some key findings from PNC’s survey of Millennials:
"Parents always encouraged me to save money." - 12 percent disagree
- 26 percent ambivalent
- 62 percent agree
"Parents showed me more ways to increase wealth than just via a job."##
- 32 percent disagree
- 35 percent ambivalent
- 33 percent agree
48 percent have an emergency fund.
38 percent feel in complete control of their financial well-being.
33 percent feel confident they are saving enough for the future.
*79 percent of Millennials 25-29 say parents talked to them about managing finances vs. 70 percent among those 30-35.
Click here to read more about what PNC Investments says about Millennials’ long-term financial attitudes and habits.
