Lots of people are saving more these days, although the reasons aren't necessarily ones to cheer about. And the people doing the most saving aren't necessarily those you might expect to be doing so, either.

That's according to a new Bankrate.com study of whether and why people are saving/spending less/more, and the surprising news is that millennials are coming out at the top of the saving heap.

According to the report, the Bankrate Financial Security Index survey found that three out of every five U.S. adults are limiting their monthly spending. Most of them say it's to boost their savings, and surprisingly enough that's particularly true for Americans aged 18 to 26. An equally surprising 74% of them say they need to put more money away.

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Marlene Satter

Marlene Y. Satter has worked in and written about the financial industry for decades.