The reputation of millennials is that they spend money frivoulousy and have zero responsibility when it comes to money. The truth is, millennials are doing a great job and expanding their wealth and they’re doing it on their own terms. The net wealth of millennials will be around $5 trillion by 2020.  A lot has been said about the fate of millennials, and much of what’s written about this generation tends to focus on how they’re prone to frivolous spending and lack financial responsibility. What their secrets? Well, first they plan for the future. A survey conducted by Charles Schwab showed that millennials were 88.9 more likely to have a written financial plan. Also, millennials aren’t afraid to ask questions. A TD Bank Survey found that when they spend money on major purchases they’re more likely to get help from a sales associate. Millennials also start saving their money early on. 71 percent of millennials are saving for retirement, according to The 18th Annual Transamerica Retirement Survey. Most importantly, millennials stay away from credit cards. They’re doing much better than past generations when it comes to credit card debt, which is the ultimate destroyer of net worth