Financial Facts about Millennials

Financial Facts about Millennials cites “seven interesting financial facts about millennials.”  It starts with “Slow income growth. Millennials lag their previous generations when it comes to income growth and their net take-home salary. Data from the Insitute of Fiscal Studies finds that it is the first time that people in their 30s are earning less than those who were born a decade earlier. The median annual household income has declined for those born in the early 1980s in comparison to those born in 1970s.” 

The second point is Questionable financial literacy.  “This has been a talking point in the UK for quite some time, with the average individual owing more than £8,000 in debt (apart from the mortgage). Research finds that millennials, aged 25 to 34, are the most likely to have debt among all the generations.”  Read more


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