When it comes to money, millennials get a bad rap. If you’re tired of stereotypes about monetarily-challenged millennials, here’s another side of that coin. Two studies suggest that millennials are actually making some smart money moves from which other generations can learn.

A study by UBS suggests that, having weathered the Great Recession of 2008 (and the tough job market that followed), millennials may have more in common with their Depression-era grandparents. Those lean years made many millennials more cautious and savvier than their older counterparts. For example, the UBS survey revealed, millennials kept about 52 percent of their holdings in cash, compared to 46 percent for a control group of non-millennials.

And despite the stereotypes, the UBS study also showed that millennials value hard work, responsible spending and financial security. When asked how they were going to achieve long term financial success, millennials’ top answers were working hard (69 percent), saving/living frugally (45 percent), and acquiring education (37 percent). Some 78 percent of millennials surveyed believe healthy finances were the way to happiness, more than Gen-X (69 percent), Boomers (65 percent), and the WWII generation (66 percent.)

Similar findings came from TD Ameritrade's Next Generation Research report, which compared savings and spending habits of 1,038 boomers and 1,062 millennials.

While many millennials may balk at the “b” word – budgeting – they’re actually doing a better job of making a plan for spending and saving – and sticking to it. According to the survey, about four out of five millennials have a budget, compared to three out of five boomers. Younger respondents were also more likely to be following their budget some, most or all of the time.

Technology seems to give millennials an edge. They’re 10 times more likely than older counterparts to use an app to track purchases and monitor spending patterns, the survey found.

Millennials are also setting savings goals. Younger respondents were more likely than boomers to save for a goal (other than retirement) and more likely to set savings targets before making an exorbitant purchase. Millennials are also beating overall trends in terms of building emergency funds. According to a recent Bankrate.com survey, some 66 million Americans have nothing saved for a rainy day.

Millennials are also more likely to ask for help. When asked about eight hypothetical situations — such as receiving an inheritance or buying a home — younger respondents in the survey were more likely on all counts to say they’d turn to professionals for advice.