We've always argued with those who say millennials are the worst generation yet. And now, we have some research to back that ish up. Millennials may be more financially responsible than everyone thinks, according to a recent white paper from Facebook.
Among the statistics uncovered? 86 percent of millennials say they save money; and 37 percent have a financial plan.
This demo defines financial success as being debt-free (46 percent), owning a home (21 percent), buying experiences (16 percent), being able to retire (13 percent), and being able to buy nice things (4 percent).
Millennials are also redefining how they approach finances: 49 percent say they use mobile banking so they can better track their spending habits; 45 percent are open to switching banks, credit card companies or brokerage accounts; and just 8 percent say they trust financial institutions for financial guidance. The study also found that 53 percent of millennials say they have no one they trust for financial guidance.
Facebook used its audience data from users age 21-34 for the study, that's about 70 million people, give or take.
Here are some infographics breaking down the study results:
We're millennials right? We love a good shortcut. Tap here for a quick breakdown of the study.