The Unsexy Reality of Millennial Financials
A couple days ago I came across a post on Instagram offering financial advice. It was written by an entrepreneur-slash-influencer whose follower base I would argue is largely millennial – current college/university students or those in their mid-to-late 20s that are still rather early in their careers. The directions were fairly simple: · Take 30% of your income and put it in an “Investments” account. ($2,400 paycheque = $720) · Take 10% of your income and put it in a “Treat” fund. This is for that vacation or night out you deserve.($240) · Determine your absolute expenses. P ut the exact cash in an “Expense” account. ($1,164 based off existing bills). · Figure out what’s left. That is your spending cash. ($2,400 - $720 - $240 = $1,440 - $1,164 = $276.) · ...