Question

We know that the longer a person saves, the more time their savings have to compound and grow. Given that fact, why do you think the young save the least and the older generations save the most? I'll give the brainliest!

Answer 1

Answer:

The illusion of time

Explanation:

This is because younger people think that they have time to save up later; that if they spend now, they can always make up for it later. On the other hand, older people know that they don't have much time (comparatively) to save money as they did before, so saving money becomes a bigger deal for them.