I was checking this post by Studenomics that talked about why Twenty Somethings are not saving money and being of the same generation Y/ 20 something category, I got to thinking…
In the past, Canadians have traditionally saved about 10% of their gross income and stashed it away in their piggy banks. Currently, the savings rate is about 0% (or with a net negative percentage). In China, it’s 30%. For some reason, we are not saving money any more!
Really, why AREN’T we 20-somethings saving money? Why IS there a disparity between the savings of Generation X and Generation Y?
I personally have a few hypotheses myself.
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