Millenials get a bad rap, especially when it comes to money.
But what don’t Millenials get about money? According to this article, one thing millenials don’t get about money is how much they make every month.
They focus on keeping up with their peers, and they say that it’s increasingly more challenging when their friends are flaunting new shiny gadgets (cars, iPhones, anything) via social media.
So, here’s my advice to millenials. Get smart about money.
How much money do you make? And by that, I mean, how much are you bringing home every month?
Are you saving enough? Aim for half.
Don’t spend more than you make every month. The deficit will only get worse as time goes on.
And be careful of the company you keep.
Hang out with the thrifty crowd. The one that likes bargain hunting. Don’t hang out with the shiny things crowd. There’s a chance they can’t afford that stuff, either, and when you spend time with them, you’ll begin to feel inferior, and you’ll want to buy things to catch up.
There’s no point.
The Joneses are living beyond their means.
Remember, spending more money than you make will not make you happier in the long term. Reprioritize and spend time with friends and family. Volunteer.
In fact, volunteering is one way to really see how good you have it.
Understand your money, and know that setting good habits will set you up for a long time.