Britain Thinks: Millennials - living for today, not saving for the future

This article examines how millennials think about money and finance as well as how they differ from preceding generations.

"One of the largest generations in history is about to move into its prime spending years. Millennials are poised to reshape the economy."1

While Millennials have 'scale' on their side, many of them doubt their ability to fulfil the destiny predicted recently by Goldman Sachs and others. Seven out of ten believe their financial situation to be significantly worse than that of previous generations. People in their twenties are earning 7% less than those at the same age ten years ago (Institute for Fiscal Studies, 2016) and it is predicted that they will spend an astonishing £44,000 more...

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