Financial advice for young adults Spending money improperly can make it difficult to boost credit scores and acquire mortgage loans. That seems to be especially true for young adults, according to a recent poll from USA Today. Millennials aren't saving enough money while they overspend and stockpile credit card debt, the survey showed. USA Today reported 69 percent of millennials have savings accounts, but less than 40 percent of young adults with such accounts have less than $5,000 in them .Nearly 40 percent of millennials claim they worry about their financial future at least once a week, CNBC reported . It might not be as hard to drop some of those substandard financial habits that are putting many young adults in a fiscal hole, CNBC said.Stay ahead of the curve Tracking expenses is one of the most crucial aspects for a healthy bank account, but most young adults forego the process. The Consumer Financial Protection Bureau reported 10 percent of millennials overdraft from their bank accounts more than 10 times a year . Subsequently, they could amass up to $350 or more in overdraft fees."Overdrawing a bank account is a big [issue]," Howard Pressman, a Virginia-based certified financial planner, told CNBC. "What I see is that millennials are not using a ledger."Young adults often make weekend purchases on a debit card which may not show up until Monday, and thus, many people are unaware of their bank account and how much they are actually spending, Pressman said.Most overdraft fees stem from very small amounts of money, according to CFBP. In fact, the median amount of an overdraft fee on a debit card is just $24. The median amount of a transaction that leads to an overdraft fee for all types of debits is $50.And most people who overdraft - if they can keep track of their finances - have enough money to avoid doing so. More than half of all consumers who overdraft put money into their account within three days and 76 percent do so within one week, the CFBP reported."They have so many things in the short-term that they're trying to juggle," Tom White, CEO of iQuantifi, a virtual financial advising service, told USA Today.Financial advice from millennials Erin Lowry, a recent college graduate who blogs for brokemillennial.com, told USA Today most of her income that doesn't go toward rent and other necessities is used for traveling or social purposes."I tend to just want to spend money on being around people and going out," she said.However, Lowry is in much better shape than many of her 25-year-old peers. Lowry managed to graduate college without any debt and was able save a good chunk of money because of that.She said one thing she often tracks to keep her discretionary income available for travel or nights out on the town is the way she eats. Instead of going out for dinner, she tends to make meals at home, and instead of getting take-out at work, she packs a lunch.Chantel Bonneau, a millennial and wealth management adviser, told USA Today many young adults aren't entirely aware of how much money they spend on certain objects or experiences. She said a good chunk of millennial incomes go toward social experiences when they could go toward a down payment on a home."A lot of Millennials are very dramatically making that a significant category of their income," Bonneau said. "We're seeing that directly come from savings.". Millennials want to save, many can't. Millennial money habits worth breaking. Data point: Checking account overdraft The information provided in these articles is intended for informational purposes only. It is not to be construed as the opinion of Central Bancompany, Inc., and/or its affiliates and does not imply endorsement or support of any of the mentioned information, products, services, or providers. All information presented is without any representation, guaranty, or warranty regarding the accuracy, relevance, or completeness of the information.