How millennials are making and managing money differently
Millennials have been described as a highly mobile generation, both in life and in the workplace. They rarely stick to a job for more than a year. A millennial may have switched jobs three or four times in a period of five years. They are looking for opportunities, some are lucky to land great chances to make money while some get discouraged.
When it comes to money management, some are doing it right while others are living for the moment. One difference that stands out is that they are making more money than other groups. So how are they managing their money differently?
Millennials are highly skilled and they are putting these skills to work. Although their turnover is high, they’re always looking for ways through which they can utilise their skills to earn more money. They are engaging in side hustles in order to make extra money to maintain their lifestyles. There are opportunities that allow them to hold more than one job. The online work platforms such as Fiverr, and Upwork are offering millennials a way to make extra money; these flexible plans give them an opportunity to earn more, helping them to meet their financial obligations.
There are more investment options today than there were previously. Millennials are taking advantage of these opportunities to make extra money. Apart from working more than one job, millennials take advantage of investment opportunities. Most of them invest with the expectation that they will get good returns to allow them to earn more with little effort.
Millennials are not in a job for perks only, they’re also looking for ways through which they can earn a living and at the same time get the flexibility they need. They’re looking for money-making platforms that allow greater flexibility, a chance to combine work and leisure. They’re looking for the means through which they can find personal growth as well as to give back to the society. This shift will continue to be experienced as millennials take over stewardship of the economy.
Disclaimer: The above information is general in nature and not intended to be financial advice. You should consider seeking professional advice before following any suggestions in this blog/website.