The recent recession has certainly left its mark on both the economy and on the spending and saving habits of everyone, regardless of generation. With 69 percent of people claiming that they are spending less and 67 percent using coupons, the population in general is trying hard to remedy its money habits. However, certain generations appear to have better luck at this than others.
The Baby Boomer generation, consisting of those born in between 1945 and 1966, is generally expected to be good at saving. After all, their parents lived through the Great Depression, and many expected that hearing about this would cause them to be more careful with their money. However, this expectation isn’t necessarily reality; due in part to job losses in the recent recession and the high costs of saving for their children’s educations, many Baby Boomers are finding their retirement savings coming up short...Read More
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