The Truth About Millennial Money

  • It’s important to share your real struggles, support and fundings once you find success, or it gives a distorted and false impression to those struggling without any resources. There shouldn’t be a stigma attached to getting help from parents and spouses.
  • It’s imperative to have transparency about money and understand that in any structure of privilege, the people at the top have to take into account what it means to people below them, who are struggling with meagre resources or a network of supporters.
Summer S. (@summers_wdd) - Profile Photo

@summers_wdd

💰

Money

MORE IDEAS FROM THE ARTICLE

Self-Made Millennials

Millennials who claim to be ‘self-made’ get support from their parents and in some cases, enjoy the privilege too, but are reluctant to admit the same. They have to show the world that they are able to do well and sustain themselves on their own, and any conversation around money, privilege, success and class stirs up topics they may try to avoid.


Gender Bias: Women who inherit from their parents and do well are looked upon differently than men who do the same.

Deepstash helps you become inspired, wiser and productive, through bite-sized ideas from the best articles, books and videos out there.

GET THE APP:

RELATED IDEAS

The two tales about houses

The one story we tell ourselves about homeownership is it is a path to a more stable, equitable future. The idea is that it is a responsible decision that requires commitment and hope. It is centered around bright futures, long lives, children, grandchildren, and hard-earned success.

The second story is about the horror of being trapped, especially for the members of the cash-poor, dream-rich millennial generation.

The homeownership obsession

curbed.com

John T. Reed, a real estate investor, looked into the accuracy of Kiyosaki's best-selling book and found it inaccurate:

  • The Rich Dad is most likely an invention. It's unlikely for an entrepreneur to succeed in construction, restaurants, and convenience stores. Authors history also doesn't match up.
  • Previously Kiyosaki named at least 2 other people as "the best teacher I ever had", making the same claim about the "Rich Dad" sound false.

John T. Reed's analysis of Robert T. Kiyosaki's book Rich Dad, Poor Dad, Part 1

johntreed.com

Measure your expenses

Take a hard look at how much you are spending day to day. Every time you spend money, write it down as it happens in a little notebook or log it into an app.

Alternatively, use the envelope method. Make an envelope for each of your non-fixed expenses, like groceries, clothes, entertainment and budget a certain amount of money for each envelope. When an envelope is empty, you have no more money to spend until the following month.

It's About Time You Stop Wasting Money

listenmoneymatters.com

❤️ Brainstash Inc.