Millennials get a lot of flak in the media for just about anything: being too young, being too precious, not focused enough, too deep in their smartphones, too privileged, unable to work… the list just goes on and on, with some complaints such as the famous accusation that millennials not being able to afford to buy property because of their addiction to avocado toast being more than a little ridiculous.
However, it’s time to put that slice of delicious avocado toast down and think about your personal finance. Sure, it’s not the sexiest subject in the world, but if you take good care of your money early in life, it will take good care of you later on.
A survey released recently detailed that millennials were spending too much money – and quite possibly addicted to – coffee. There’s nothing wrong with that skinny latte, but when you are spending more of your money on coffee that any form of retirement investing, there’s a problem.
The survey revealed that 44% of female millennials were simply spending more on their morning fix – and guys weren’t far behind at 34%. It’s worth noting that you can make coffee at home that’s just as delicious and save a lot of money – which can be used to bolster your own personal finance.
It’s easy to think that retirement is something that’s not important – after all, it’s a whole four or even five decades ahead of us! However, time has a habit of speeding up, and being prepared with personal finances is the best way to ensure that you enjoy your life as a pensioner as much as you do now. After all, even pensioners like coffee and avocado toast..