Millennials aren't saving a dime

If you're younger than 35, you're probably broke.
 
According to a study by Moody's Analytics and reported by CNNMoney, people in that age group are actually spending more than they earn, resulting in a negative 2 percent savings rate. By comparison, those between 35 and 44 have a savings rate of 3 percent.
 
Blame stagnant wages, which have remained flat or have fallen over the past 20 years, making it tough to get ahead no matter what your age. Adding to millenials' financial woes is the staggering student debt many are burdened with, and that baby boomers don't seem to be in any hurry to retire or die, limiting millenials' professional upward mobility, the report states.

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