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3 takeaways from Bank of America’s millennial assessment

Mortgage lender says millennials are still reeling from the recession, but are not willing to sacrifice lifestyle for white picket fences and big yards
  • Millennials are all about balance, thinking of today and tomorrow and not letting goals for one take precedence over the other.
  • Millennials care about managing their money and are actively trying to stay in control of their finances each week.
  • About a third of millennials said the recession affected them personally, with 46 percent finding it difficult to find a job, and 21 percent reporting that it has been impossible for them to find a job.

Still feeling the effect of the recession on their own and their families’ finances, millennials are gobbling up all of the information they can find on their mobile devices to plan for their futures, including when they would like to buy a home and what kind of home best suits their unique lifestyles. This is according to a recent assessment of millennial homebuyers by Bank of America (see the snapshot embedded bel0w). However, the mortgage lender noted that millennials are all about balance, thinking of today and tomorrow and not letting goals for one take precedence over the other. So while they are preparing for the future and saving early for retirement, some are also willing to selectively take on debt for higher education and for experiences. [gview file="http://www.inman.com/wp-content/uploads/2015/12/Millennial-Snapshot-Infographic.pdf"] Seeking a better understanding of what millennials want, and believing that this generation’s attitudes toward finances also ...