Many a times, millennials get stigmatized as being terrible money managers, whether it‘s indulging in binge shopping instead of enjoying life‘s simple joys, taking on credit like a ruthless tornado engulfing a city or flaunting a sky-dive, while watching their emergency funds vanish into thin air.
The media especially has sketched a complex portrait of the modern millennial today - one whose inclination for binge-watching has pummelled broadcast TV ratings, one whose dependency on social platforms makes Instagram and Facebook the first and last destination to travel to every day, one whose expectations for online and offline experiences has redefined every industry, and one who is crushed by such an oppressive weight of monetary debt that it‘s shrivelled the housing market. The truth is millennials have grown up in some of the toughest financial conditions there has been in decades. As a result, they need to make a living on a much lower income. Not only are they holding down jobs, they are also the most likely to have a second job, or secondary hustle, to keep their income supplementing.
Having said that, it is time to analyse if these millennial stereotypes are still rightfully deserved! Let us look at the common millennial money myths, and decode the reality underlying them.
Myth1
Millennials are careless about financial investments
Bu hikaye Mad About Money dergisinin September 2018 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Mad About Money dergisinin September 2018 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
Pharma In Focus
The pharmaceutical industry is one of the biggest paperintensive industries in the world and of course, is responsible for the health and general well-being of the population.
The Adhaar Story
Quite frankly, the Adhaar policy took the country by storm. The 12 digit number has promised to replace every proof of identity for all Indians to make any registration process much easier to navigate.
Why Millennials Wish They Had Grown Up In Baby Boomers' Times
Growing technology and evolving mindsets have caused disparity and to some extent a wide gap between the two generations. Yes, we are talking about Millennials and Baby Boomers.
The Public Provident Scheme
The PPF scheme was introduced by the Ministry Of Finance (MOF), govt. Of India in the year 1968 to encourage tax free savings by the people. People could deposit money in ppf accounts and the interest earned on those deposits were tax exempted.
Starting With A Silver Spoon Is Not Essential To Be Wealthy
Yes, probably we all envy the Mittals, the Kapoors, the Mallyas! Not because they are billionaires, but because the coming generation would also inherit the wealth and affluence that has been there since years. Perhaps, the great grandson of Vijay Mallya would be able to spend his entire life slurging and indulging into luxury without even stepping out of his house! Probably Taimur Khan, son of Saif and Kareena, would get casted in some big budgeted flick by some renowned filmmaker, to get launched without even struggling to show his acting skills.
The Indian Solar Energy Sector - Will It Make A Comeback In 2018?
The Indian Solar Energy Sector - Will It Make A Comeback In 2018?
Smart Investments In Smart Commercial Real Estate
Investing in Commercial Real Estate is no different from any other investments, specifically the traditional residential real estate investment, in the sense that it requires doing your proper research and homework before getting into it. However, to become a smart investor one needs to understand the subtle differences that commercial real estate investment has over the residential version of it.
Extravagant Lifestyles Of The Wealthy
If you happen to be an average person who thinks apple phones are all about the makers and impressive specifications you could be mistaken.
India Post Payment Bank Rollout Plan
May 2018 is an important month for various reasons, one of them being the India post payment banks PAN-India roll out from may! Refuting all the speculations of delays, etc.
Desi Startups For Microsoft Ventures
India recently has been booming with various startups, catering to the regular needs of people, with sound supply chain and operational planning. Considering the innovative ideas of the startups and their rapidly growing popularity, global tech giant Microsoft is looking at investing in Indian tech startups through its venture funding arm. This news came from a senior official from Microsoft. Definitely this is going to be a revolutionary step in Indian economy.
