Millennials are often stereotyped as the spending careless generation. As a millennial, I don’t relate to this stereotype because adulting is a forever learning process. Adulting can be hard for many reasons. You’re being put out into the real world to live our lives! Even if your parents or school prepared you for this process, there’s always a struggle. Whether its struggling to find a job or get healthy, millennials are dealing with major stress.
Most importantly student loans are at a high, this has led some people to not pursue an education. Imagine having to pay $300-$400 for monthly loan payments while being paid minimum wage at a retail or entry job! Some people have even re enrolled into school to pause the struggle of trying to get their lives together! Millennials it’s time for us to save our money! Being an adult isn’t cheap! Here are some reasons why millennials should be saving money!
If you want to achieve the goal of buying a house, it’s time to save up! Buying a home is a major milestone for any adult! Being able to pay for an apartment that fits every point in your checklist is also an achievement! Homes and apartments aren’t cheap! You have to pay for maintenance and utilities! If you live in a west expect a high AC bill! East coasters expect to pay a lot for heating and air conditioning! East Coast summers are hot and muggy. Save money and live at home, If you want to have a roof under your head. Once you have enough to last you for a year or more then move out! This is a reason why millennials need to save money!
We all love to eat! Most of the activities that are participated with friends and family involve food. Whether it’s going to brunch with friends or cooking a meal for your partner, you will have to spend money! We need food for energy and to survive. It’s best to budget when it comes to spending money on food. It’s fine to occasionally treat yourself to some expensive ass cauliflower crusted pizza or an overpriced latte!
Cooking food at home will help you save money and learn how to cook. Going out to eat will lead you to spending money! DO NOT eat out if you don’t have enough to tip the waiter properly! If you can’t afford to tip then you can’t afford to eat out! Stay in and cook a meal and you’ll notice changes in your finances. I’ve saved around $170 after deleting Postmates and Ubereats!
You have to protect yourself financially in any relationship. Yes, it’s important to trust your partner and family members but people are sneaky. Statistics show that finances usually lead to couples splitting up. Dating and being in relationships cost money. If you’re frugal like myself, invest in a Costco membership! Take your date to Costco and eat free samples! It’s a cheap alternative than having to go to dinner and have awkward small talk. This is a reason why millennials need to save money!
You can have the perfect relationship and job but struggle at being financially smart. Life will hit you at the most awkward moments. Whether you’ve been laid off or fired from a job, it’s important to save! Life hits you when you least expect it. Be ready to overcome and grow as a person! This is a reason why millennials need to save money!
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