February, 2016

The Millennial Money Habit That Defies Logic

February 11, 2016 Nemes Money

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Last month, the Federal Reserve Bank of Philadelphia published a report that looked at millennials money habits, particularly their use of banks and alternative financial systems. While some findings were hardly a surpriseyounger consumers are most likely to use peer-to-peer lending and alternative payment systems like PayPal and Venmothe report found one big head-scratcher of a trend. Millennials, even those earning high incomes, are exceedingly fond of general-purpose reloadable prepaid cards.

The conventional wisdom around these cards is that they are used mostly by low-income and unbanked … Click Here to Read More

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