patrick.net

Strategist says

What counts is your liquid assets, and credit card limits that can be used in an emergency.

Both of which, Millennials don't have.

Strategist says

Who bothers to save in a savings account?

The gist I get from this article (and others like it) is that they use the terminology "savings account" to designate saving money somewhere. Using the term "savings account" makes it clear to the readers what the intention is.

I think if they said "checking account", most people would equate a checking account as the one you PAY all your bills out of, not SAVE money for the future, that you don't touch.

As we all know, if a Millennial had $1000 in their checking account (debit card access), they would just spend it on a iPhoneX.

Sniper says

Strategist says

What counts is your liquid assets, and credit card limits that can be used in an emergency.

Both of which, Millennials don't have.

I do. So this is not true.

WookieMan says

Sniper says

Strategist says

What counts is your liquid assets, and credit card limits that can be used in an emergency.

Both of which, Millennials don't have.

I do. So this is not true.

Well, we all know you're special! :)

Actually, my kids do too, but they are definitely a minority within their peers. The majority of their friends are the paycheck to paycheck group. My youngest son wants to rent a house with one of his buddies, but none of them will leave the comfort of mommy's basement and strike out on their own.