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Millennials’ Relationship with Money Is Changing

Millennials’ Relationship with Money Is Changing

Millennials don’t care about money—kind of. At least, twentysomethings don’t look at money like their parents and grandparents did.

According to a survey from CNBC, barely a quarter of them invest—half as many as previous generations. But that doesn’t mean millennials are bad with money. In fact, TIME suggests they budget more carefully than Boomers by more than 10 percent.

The real difference is that the vast majority of millennials are influenced by their passions more than “conventional” wisdom about money and work. Nearly 60 percent, according to a Forbes survey, would choose a job they love, even if it comes with a smaller paycheck.

Millennials aren’t stingy, though. Last year, for example, some 84 percent gave to charity. This generosity doesn’t stop with charitable giving: they are making the idea of crowdsourcing normal, sending some $2 billion to Kickstarter campaigns alone.

Apparently, millennials just care less about keeping money for themselves.

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