Introducing ...Money Management For Millennials ...
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Brief Note :
When it comes to learning about money management, millennials are forging their own way for good reasons – the main one being that things are totally different now than they used to be. The fact is, millennials face completely different financial issues than the generations before them.

Millennials are defined as the individuals born between 1981 and 1997, and are also known as Generation Y. This generation is the largest generation. They are very diverse, as only about 40 percent of them identify as non-Hispanic whites. They are more likely to get married later in life, and they like to live in metropolitan areas rather than in rural areas. Additionally, they’re not as drawn to materialistic trappings as their older counterparts. However, that may be due to the money challenges that they face.

Gen Y faces hard realities when it comes to student debt, low wages, high rents, and the high cost of health insurance and health care today. Thankfully, even with these challenges, millennials overall like managing their personal finances and are confident about their ability to do so, even with the frustrations mentioned.

Statistically, millennials are saving more for retirement than past generations. They have learned from watching their parents burn through their own retirement savings during the Great Recession. In fact, according to the TransAmerica Center for Retirement Studies, 70 percent of millennials started saving for retirement around the age of 22.

They are also saving money for other reasons and tend to dislike using credit as much as their parents. The main problem isn’t willingness – it’s low wages. Due to this fact, they need to save more than the average of 8 to 10 percent of their salaries each year to ensure their retirements are safe. Because unlike past generations, millennials aren’t relying on the government to provide that retirement, since they are overall very distrustful of the government.

Even with all the positive information that the research shows regarding millennials and money in terms of their knowledge and desire to use money wisely, the importance of both retirement savings and emergency fund savings for this generation must be stressed. Having an emergency savings will ensure that Gen Y can avoid raiding their retirement accounts like many of their parents had to, due to high consumer debt and low short-term emergency savings available for them.

Every smart money decision you make starts with creating a realistic budget, so let’s look at the ebook in much details!