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What Financial Advice Do Millennials Say they Need?

Stressed young adults, millennials hold question mark signs

Despite millennials' confidence in their financial knowledge, they want advice on three topics in particular: savings, budgeting and credit cards.

In a study conducted by Angus Reid Public Opinion for TD Bank, 59% of those polled reported being "extremely" or "very" knowledgeable about day-to-day banking products. Still, 26% of those polled felt they needed advice on credit cards. More men than women said they want help on the subject, by a margin of 29% to 23%.

Some 38% of 501 Hispanics polled wanted advice on credit cards, making that product the group's second highest concern. The group most wanted advice on savings (45%).

More millennials reported having a checking account (100%) or savings account (82%) than a credit card (72%). Women (68%) and Hispanics (64%) were less likely to have a card than men as a whole (75%).

The TD Bank Financial Education Survey polled 2,031 Americans ages 18-34 from Jan. 28 to Feb. 10, 2014.

See related: Infographic: Millennials have unhealthy credit habits, More infographics

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CreditCards.com infographic: Which financial topics millennials say they most need advice on

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Loan Type Graph Rate +/- Last Week
30 Y Fixed Graph 3.97% dw 4.14%  
15 Y Fixed Graph 3.05% dw 3.13%  
30 Y Fixed Jumbo Graph 4.28% dw 4.33%  
5/1 ARM Graph 3.06% dw 3.24%  
5/1 Jumbo ARM Graph 3.52% up 3.38%  
Loan Type Graph Rate +/- Last Week
$30K HELOC Graph 4.38% -- 4.38%  
$50K HELOC Graph 4.07% up 4.06%  
$30K Loan Graph 4.63% -- 4.63%  
$50K Loan Graph 4.25% -- 4.25%  
$75K Loan Graph 4.25% -- 4.25%  
Loan Type Graph Rate +/- Last Week
36 M New Graph 3.06% dw 3.07%  
36 M Used Graph 3.28% dw 3.29%  
48 M New Graph 3.04% dw 3.05%  
48 M Used Graph 2.95% dw 2.96%  
60 M New Graph 3.12% dw 3.13%  
Loan Type Graph Yield +/- Last Week
6 month Graph 0.39% -- 0.39%  
1 yr Graph 0.62% up 0.61%  
5 yr Graph 1.52% -- 1.51%