If you want a lesson in money management, you might ask a young person.
It turns out Gen Z is not only handy when it comes to navigating the ins and outs of technology, they are also awfully adept at putting money away in their savings accounts.
A new report from TD Bank says Gen Z is the best at showing the discipline needed to save for the future. They are better than Millennials, better than Boomers.
The survey showed half of Canadians figure they are not saving enough to meet their financial goals. And almost as many are not especially confident about their financial knowledge. Roughly a third of us have no financial plan and an equal number have never invested for the future.
But the group that has demonstrated the best record on saving is Gen Z. 70-percent of them have consistently invested funds to their savings at least annually.
No other demographic group can match that rate. They also are most likely to agree that better financial planning is the first step towards achieving financial objectives.
