They say they’re serious about saving, but apparently they’re pretty easily distracted from objectives that lie far off in the future.
So says a new survey about millennials’ money habits, which found that while more than a third cited saving as their top priority, impulse buying waylaid them on the way to that goal. The survey, from the American Institute of Certified Public Accountants and the Ad Council, found that although 34 percent of millennials put saving ahead of living a healthy lifestyle (20 percent), paying off debt (19 percent), and losing weight (14 percent), that apparently only lasted until they met a potential purchase—and there were remarkably few purchases they didn’t like.
Sixty-five percent said their inability to save was thanks to impulse buying, despite the importance of some of the savings goals they’d set: saving for an emergency fund (40 percent), saving for retirement (22 percent) or starting a family (15 percent).
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