Millennials have the least amount of spending money: study

VANCOUVER (NEWS 1130) – The status quo isn’t good enough if millennials are to be able to put down roots in Vancouver.

That’s according to a new report from Van City.

A lot of millennials in Vancouver either face a debt or a very small amount of money left over, according to William Azaroff with Van City.

“If they run into unforeseen circumstances, they may not have a cushion. If they want to do things like travel or save for retirement or invest back into their communities by being philanthropic, they don’t really have the opportunity to do that,” says Azaroff.

After paying for basic expenses, like food and housing, millennials in Vancouver don’t have much left.

“At this critical stage in their life where they’re trying to build — build income, build a family perhaps, build a career, that the discretionary income they have, which is what we used to build a lot of that in our lives, is harder to come by here than in other places across the country.”

Azaroff points the finger at lower incomes and housing prices.

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