As the Millennial generation piles into the workforce, their financial habits will continue to mold the business world around us. Companies are already fighting to win over the youngest demographic of spenders, and a new report by iQuantifi sheds some light on how Millennials are handling their money.

What Are Millennials Doing With Their Money?

According to the report, 70% of Millennials plan on purchasing/opening a financial product within the next year. The most popular financial products that Millennials are seeking out are credit cards (37.6%), checking accounts (36.2%) and savings accounts (36.0%).

Less than 5% of Millennials currently do not have any relationship with a primary financial institution. When it comes to selecting a primary financial institution, the most important factors include branch location (23.0%), customer service (15.4%) and online banking tools (13.8%).

What Financial Challenges Do Millennials Face?

Millennials deal…

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