Millennials are reaching the age when they should be achieving financial autonomy and independence, but unfortunately many aren't. Why are millennials having so much difficulty landing a job and living independently? According to a survey, this generation says its biggest obstacle to financial success is the lack of earning power and unemployment, followed by a lack of budgeting, planning and saving.
It's time for students to take control of their finances, and the first step in doing that is becoming more knowledgeable. Melissa Jarman, director of student banking at RBC, says there's a lot of work that needs to be done to improve financial knowledge.
For most people in my generation, stress runs high. Among high school students and university/college students, academic stressors are king. That said, the main stressors facing students and recent graduates are integrally connected. Career stress is a big concern.
While Millennials are known for being the generation of "job-hoppers," switching jobs year-to-year, data from our most recent study shows that the threat posed by high unemployment rates is starting to impact our career goals. A flashy open-concept office or extravagant signing bonus may not be what many new grads are looking for.
During the 30 days leading up to Christmas students and youth aged 16 - 29 told us that they are spending more on holiday activities and gifts for others. And it doesn't end there. Most troubling for many students will be paying tuition next semester. Here are some tips from StudentAwards for how to beat the holiday spending crunch.
Millennials face these "trappings of success" and we aren't making six figures. We live in a world where our parents, teachers, and professors of the c-suite generation still hold us to these traditional measures of success. Today post-secondary students are graduating with more than $26,000 in debt, on average. This is a far cry from the rosier prospects that those in the Baby Boom generation saw when they were in their 20s.
Sit down, take a nice cold sip of your iced grande half-caff sugar-free non-fat vanilla hazelnut latte, turn off Angry Birds on your iPhone 5, and pay attention, 'cause Gen Y? We need to talk. Stop blaming everyone else for your lack of a decent job. It's not the labour market. It's you.
I've been watching the discussion of millennial citizenship on the HuffPost. It's a spirited exchange. Perhaps it's worth taking a step back and re-examining what we mean when we talk about political engagement; at the core, I'd submit, are principles that apply regardless of age or demographic. It's the ability to engage in critical thought that makes us "citizens," rather than mere "consumers" or "taxpayers." It's the ability to follow a line of reasoning, to view an argument analytically, to evaluate the evidence on which it's based and determine whether it makes sense.