When it comes to saving money, Americans are falling short. According to a 2016 GOBankingRates survey, 69% of Americans have less than $1,000 in their savings accounts — and 34% have no savings at all.
Millennials are no exception.
And one of the biggest mistakes financial advisers see young people make is spending more than they earn and living above their means.
Of "young millennials" — which GOBankingRates defines as those between 18 and 24 years old — 72% have less than $1,000 in their savings accounts and 31% have $0. A sliver (8%) have over $10,000 saved.
"Older millennials" — defined as those between 25 and 34 — aren't doing much better: 67% have less than $1,000 in their savings accounts, 33% have nothing at all, and 15% have over $10,000.
GOBankingRates broke down savings by multiple age ranges, so you can see how you stack up against your peers: