NO ONE HAS IT HARDER THAN THEIR FATHER DID:

Millennials get a bad rap for being irresponsible with money.

But new studies show that not only are they carrying less debt than they did in previous years, they are actually pretty good at saving. Millennials are saving more aggressively than they have in the past, and in some cases they're saving more than their older counterparts, according to a new study from Bankrate.com.

"There is a greater inclination toward saving among millennials than we've seen in previous generations," says Greg McBride, chief financial analyst for Bankrate.com.

Sixty-two percent of millennials, defined in the survey as consumers between the ages of 18 and 29, are saving more than 5% of their pay for retirement, emergencies or for other financial goals, the study found. 

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