Only 20% of 20-somethings manage to save 10% of monthly income: Study

Many are servicing education or personal loans. It would make more sense to repay debt before investing aggressively

Many young adults belonging to the millennial generation today tend to spend more than they earn. Born into relatively affluent families, they do not suffer from the kind of insecurity that propelled earlier generations to save compulsively, even though their salaries at the same age may have been small. Given their free-spending habits, many youngsters run the risk of falling into a debt trap from which they may have immense difficulty extricating themselves.
 
Meagre savings: Research by Money View, a money management app with over 10 million users, found that only 20 per cent of young adults (aged between