A recent survey revealed that a good amount of millennials are not exactly staying on top of their finances.
StudyFinds reports 2,000 millennials participated in a survey on how they managed their money. It found that the average young adult spends nearly 150 more hours a year scrolling through social media than monitoring their finances.
The survey also found that millennials are more likely to play with their pets or search for a new TV show to stream than checking on their money every week.
Additionally, being on top of their finances came last on a list of activities millennials spend time doing — including deciding what’s for dinner or caring for their plants.
Finances overall appear to be a touchy subject for millennials, with more than a quarter of respondents admitting they only check their bank account balance once a week (27%). The survey also found that nearly half were unsure of the amount of money currently in their bank account (45%).
About 75% of the millennials in the survey did agree that it’s important to develop good financial habits at a young age with more overall turning to financial planners to help keep track of their debt and savings.