From Visual Capitalist:

See if your students can pick up on the inconsistencies and contradictions from this survey data on how millenials feel about investing, debt and banking. Here are just a few:

• 87% feel confident about investing but 70% hold their savings and investments in cash.
  • Holding cash does not equal investing
• 65% feel confident about their future finances but 48% don’t know their credit score
• Despite being digital natives, only 40% would stop using cash if cards could be used for all transactions
• 60% distrust financial markets and 46% believe investing is too risky
  • Scarred by the Great Recession and the market tumult during that period of time
  • May limit the wealth creation process as less time for compounding of interest (especially since savings accounts are near 0%)

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.

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