A new survey from Bank of America shows that the financial standing of millennials is improving. According to USA Today, one in six millennials have savings of at least $100,000. They have been doing a good job of saving money since 2015, when only 8% of Americans between the ages of 23 and 37 had that much money in their bank accounts. The survey found that 47% had savings of at least $15,000, an increase from the 33% who had that much in 2015.
Andrew Plepler, global head of environmental, social and governance at Bank of America, summarized the report pointing out that millennials have been acting "quite responsibly" with their money. 54% say they have a budget, and 73% say they stick to that budget each month.
"Their financial habits have become more disciplined," Plepler says. "They've built it into their lifestyles."
As a result of better financial habits, 60% of millennials say they feel financially secure.
Despite the increase in wealth, money issues are still on their mind. The survey found that 35% say their top financial stressor is not saving enough money.