If millennials were to come into a sizable sum of money, over 40% of them would use it to pay down debt, according to a new report from Goldman Sachs.
Paying down debt trumps all the other options such as putting it towards buying a house (~17%), investing it with the help of a financial advisor (~15%), or spending it on vacation or leisure (~10%).
It’s notable because things like buying a house or investing one’s money are more about moving forward in life, while paying down debts is just trying to get back to zero.
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