Millennial will not spend money on these things, 10 to review
As per as the Time, even is the Y and Millennial generation are not supposed to have enough financial education, there are some factors that indicate a prevention to any money adversity in the future.
This attitude is visible by looking how the young people are not willing to spend on the following services, products or entrepreneurships:
- – Pay television
It is very common to see homes of young people without a television; this is because they know this is a hook to consume all the marketing.
- – Investments
Regardless, young people are recommended to invest on stocks, but the crisis from 2008 caused that they think about the stock exchange as an uncertain scenario.
- – Beer
On this specific field, young people have left behind the mass production and looking now for artisanal choices, taking into account the taste, or just to consume something that is independent.
- – Cars
As per as the report from Yahoo Finance, the percentage of the people around 16 and 24 years old that have a driver’s license as decreased since 1997. On the other hand, The Atlantic added that adult people between 21 and 34 years old represent just the 27% of the sold vehicles.
- – Real Estate
For this generation is almost impossible to cover the cost of having a house of their own, not even a credit to get it; therefore, young people decide to go for a monthly lease.
- – Bulk products from membership clubs
This is caused to the lack of having a car, because the purchases from these stores or clubs require a car to transport all the merchandise big volumes.
- – Weddings
This is not a rejection of the idea to get married, but to go into that step when they have accomplished job stability and a better financial future.
- – Children
As simple as no marriage no kids.
- – Medical insurance
They are so confident about their generation, that they don’t foresee health problems in their future.
- – All people saying what they should buy
51% of these people, would rather take an advise from an stranger than their family or closest friends before accepting a product or a service.
Salomon Juan Marcos Villarreal, president of Grupo Denim, added that this is all caused by the new area we are living. “We are seeing the industrial area dying and the information area is in the present, millennial people would rather start up a business than ask for a job interview”, said Salomon Juan Marcos Villarreal.