New Money

Gen Y Members Aren't Financial Misfits

By Katy Marquardt

Posted: April 24, 2009

Despite Generation Y's apparent spending priorities and debt issues, this group is tucking away more money than the nation overall. According to a recent survey from Money Management International, a credit and debt counseling nonprofit, 44 percent of Gen Ys say they're funneling more money into savings (Americans as a whole say they're saving 36 percent more.)

Maybe we shouldn't beat up on Gen Y so much. Case in point: "Characterized by their sense of entitlement, casual clothes, Blackberries and high expectations, Gen Y has presented Generation X and Baby Boomer employers with the problem of managing and retaining them as employees," writes MMI.

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New Money

Katy Marquardt, a senior editor at U.S.News & World Report, takes a contemporary look at happenings in the financial world and aims to help young investors get going with their portfolios--or just sound cool at cocktail parties. Have a question? E-mail Katy at newmoney@usnews.com

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