Today’s topic covers two generations for a reason; they are both born when nothing is sure, especially when it comes to work and money, so we have to find a way to invest. Before them, we had generations of people who would work from nine to five the same job for 40 or 50 years and have a stable income and a pension. But what happened after?

Millennials

“But what about a stable job?”

It’s hard to explain to your parents why you feel the need to avoid ‘settling down’ early in work and personal life. Chances are, you’re in your mid-twenties, and you’re still single and don’t have a stable job. Not that you’re lazy, but a ‘stable job’ is just don’t exist anymore. “We have to hustle; we have to find a source of passive income and feel some stability,” they say.

Today’s young adults are mostly renters, and it’s highly unlikely that they will have our own house or an apartment in their thirties. That might make it more fun if you are splitting rent with your best friends, or with your partner, but it also makes you a lot more nervous.

The problem with the income-vs-expense issue today is that no matter how much you are trying to save, there is always something that comes up, and many millennials have been in a situation where they don’t know how they’re going to pay their next apartment bill, even though they are working two jobs.

Young peeps are curious, creative, and want to learn

It’s pretty normal to have a YouTube channel, be on a platform where you can sell your handmade stuff, and express your creativity while also making money (which makes us less stressed about the future).

In term of personal finance, I noticed that every YouTuber, especially this year when the pandemic is on the roar, is talking about investing in the stock market, as well as cryptocurrency market. They see it as a way to learn more about the economy and start little but still have a chance to have a passive income that will come in handy. If they don’t talk about the stock market, they will usually talk about finding the best bank, so you can tailor your needs and figure out easier where you are overspending.

Finding the best bank includes having low fees and even points if you buy at individual shops which will give you discounts on various things, from food to flights. Of course, many Millennials and Gen Z prefer online banking, so that is a must if you have an account in your bank.

If you’re into trading, you also need an account for that. Let’ say you’re trading stocks; It’s useful to have an account, from the typical Paypal account or the ‘trending’ cryptocurrency account, which can be helpful for the stock exchange, and you can also run down through your savings smoother than you would if you had a separate app.

Act like a man

Why they act like “kids”

Millennials have either traveled a lot or not at all. Naturally, they want to explore the world once they have some money on the side and feel what it’s like having fun. This also means saving and knowing the ultimate goal. It doesn’t always have to be something long-term.

Many people overlook this fact, but they know that they will have to create the pension fund ourselves because they don’t know where they’re going to be in five years, what job are they going to do or if the planet will still be suitable for humans since the climate change is real. That’s why they are always trying to save up for things that aren’t “future family,” “future apartment,” etc. They know that nothing lasts forever, so they are trying to make the best out of it.

They are big multitaskers

Yes, they are generations that are still adapting to the permanent quick changes and “system overload,” but that means they can grasp so many things with a different point of view. they binge-watch Netflix; they play video games, they enjoy festivals. Still, they also hustle, educate ourselves daily, and even artists learn about the economy and management because they realize how much it affects our lives and work.

They can’t make a ten-year plan with utmost security, but they can assume how they want our life to be, what they want to experience until then, and make our financial goals try to meet that. That is also why they are investing because that can be something similar to a savings account, but they know they can come to it and see more money than they had, but not in a matter of 40 years from now.

Busy millennials in meeting

They work because they want to enjoy it

You will come across many freelancers, and older generations still can’t understand why and how this happens. What confuses them the most is that it isn’t a job that guarantees us years of a secure paycheck. But they know the risks and with that come benefits as well. We can do our job well anywhere. We can travel to the seaside, and still manage to meet the deadline; they can work from home and have the same paycheck while even saving on transportation and eating out.

Lastly, they want a sense of freedom, which they usually don’t have since they have to think about money. We are also thinking about the future of our country, the world. We want to change it and slowly and surely we can, one by one.