The most talented, technologically advanced and competitive generation - Millennials. The industrial revolution created its own success for the Baby Boomers and now it's the Millennials who are harnessing the power of technology and augmented reality.
We change what we touch. We touch what we don't not like. And we create what we want. That's a Millennial!
We are now the most entrepreneurial member of our society. We lead in most corporate roles and we collaborate in making a difference. But with so much expectations from the generations ahead and after us, what are the most common financial mistakes of millennials?
There are millennials who are only focused with what they can enjoy short-term rather than what they can have long term and that includes missing to plan long-term. YOLO is nice, You Only Live Once but it does not mean that you need to do whatever your peers are telling you to copy.
Instead of retirement planning, some millennials are too focused now on travel plans. Something that they can enjoy in the next 6 months.And they are willing to spend another 6 months to repay what was spent on their #yolo's.
I am not your mom and it's your money - so what? I love you millennial! I am a millennial too. YOLO responsibly. Don't waste your time, your resources and talent.
Tip: Remember the rule of delayed gratification. Work now play later. Not play now and pay later.
2. I DESERVE IT.
Oh yes you do!
You've worked so hard to get it. But exactly, be wise when you make financial decisions because at the end of the day, the people you were trying to please will become irrelevant.
You deserve a fuller expression of your gift, of life and your vision. Learn to value what you have rather than excessively use it without thinking of your future.
Tip: Buy what you truly need, spend what you truly have.
3. BUT I AM STILL YOUNG.
Exactly! Use your youth to reward you when you are older.
When a Millennial is offered an opportunity or given a responsibility, the respond would usually be - "but I am still young." Making them unprepared or less valuable in the marketplace.
Grab it or someone else will take it away from you.
Indecisiveness and procrastination will not make you a leader in your industry. Our generation is doing a transition period in wealth, in leadership, in influence and in power. Those who are prepared to take over will always be a winner.
Tip: Explore your youth but do not make it an excuse to not learn faster. Make mistakes but if the action is an obvious mistake be smart!
4. FOCUS
I will finish it with one word - focus.
We learn faster than anyone else. We work with excellence. Our generation is very sensitive to the issues in our own communities. We care for others and for nature. Which is very good.
But at some point there are millennials who lack clarity with what they truly want and they easily get distracted by the issues around them even if it's not relevant to them. They are distracted so much and ended up taking no action about it.
Focus on the things you can control first - this is how we effectively create an impact.
If you truly want to make this world a better place, be a better person. Show the world what a real millennial should look like. Represent what a real person in this generation will be like.
You cannot be everybody, but you can always be somebody.
Tip: Find a career that you are passionate at and excel at it. You have so much power in you - flourish!
I am a Millennial, in writing this it is never written to judge your choices. My wish is we will continue to be a gift to our generation. I would love to see your reactions, write your comment below.
P.S. It's my mission to guide the movers of the next generation and in my generation. If you are looking for a digital mentor to guide you, you are always welcome to connect with me in any of my social media accounts.
P.S. It's my mission to guide the movers of the next generation and in my generation. If you are looking for a digital mentor to guide you, you are always welcome to connect with me in any of my social media accounts.