According to a study by lobby group Young Invincibles, Millennials earn on average 20% less than their parents at the same stage of their lives, even though they are more qualified. This is probably one of the reasons why they are more attentive to their savings. Renowned fo their optimism, people born between the early 1980s and the end of the 1990s have nonetheless a sense of responsibility: according to a recent study, millennials are even thriftier than the previous generations. On average, they are spending 4 hours per week managing their personal finances from their office, when GenX would spend only two, and Baby boomers just one, explains a survey conducted by Boston Research Technology for Bank of America. What's interesting is that, unlike previous generations, it is not so much for retirement plans but rather for pleasure: Millenials save to 'relax' and 'release tensions'. This 'fear-of-missing-out' (FOMO) actually pushes them to spend their money primarily on travel (81%), dinners (65%), and sport (55%) rather than keeping it for their old age.