Millennials Possessed By Money

Millennials Possessed By Money

Millennials (born after 1986) grew up during the financial crisis. 88% of American millennials, according to Forbes research, value happiness over material possessions and money. Millennials spend a lot of money and time on travel. This sometimes seems to be related to the uncertain economic future in which millennials grew up. However, what this research also shows is that this group is relatively concerned about money. More than 43% say they don’t have enough money to afford proper health care should they become ill, and a whopping 46% are highly indebted as a result of education. Fortunately, the health care system and the student loan system in the Netherlands are now much better organized than in the United States, but are millennials here also so paradoxical when it comes to money? So on the one hand indicate that you do not consider the value of money and possessions to be a determining factor in life, but on the other hand, do you have a lot of worries about money?. By the way, you can visit this sites (https://lacenturylaw.com/motorcycle-accidents/).

Are Millennial Participation Plans Affordable?

And does thinking about money, experiences and possessions influence the way millennials participate in the company? Can Millennials Pay for Participation Plans? And if they can, do they want to spend their thirteenth month on stocks? Or would they rather save that for a big trip? Research from ProShare, the UK equivalent of SNPI, shows that millennials do indeed indicate that “affordability” is a problem with participation plans and the biggest reason for not participating. Interestingly, ProShare’s research shows that for the two generations above the millennials, the pragmatic and the lost generation, the affordability of participation plans is a much bigger problem. As many as 58% of the lost generation participants indicate that the affordability of the plans is an issue.

 Appreciation

How do we see that reflected in our research, how do the generations value the balance between money, work, and experience? No surprise is the large differences in the first question in the survey, which is about the property and then specific homeownership. Only 32% of millennials own homes versus nearly 90% of other respondents. However, the desire to buy a house in the future among millennials is great, 93% of the millennials without a house still want to buy a house in the future. Millennials are even slightly more materialistic than the other respondents. With the statement “possessions are not important in my life”, 74% of millennials disagree compared to 61% of other generations. Millennials consider experiences more important than possessions (74%), but the pragmatic generation (78%) find this slightly more important than the other generations (71%). Major differences lie in the appreciation of work. Only 9.3% of millennials say work is the most important thing in their life compared to 20.5% of other age groups. This difference is mainly due to the fact that 60% of baby boomers indicate that work is the most important thing in their lives. The differences are minimal, but millennials value the level of income from work slightly more than other age groups. However, in this study too, the pragmatic generation attaches the most value to income from work. Millennials are the most indifferent of all age groups about bonuses: only 39% consider being rewarded through bonuses or profit-sharing important compared to an average of 59% over the other generations. This 59% is fairly evenly distributed over the other generations. Millennials find leisure slightly less important than salary compared to the other age groups in the study: 60% would rather have more free time than more salary, compared to 63% of the other age groups.

Millennial myths debunked!

“Millennials don’t care about possessions, they care about experiences” is a common assumption. However, we do not see this in our research. Millennials indicate that possessions are important. But it also seems that millennials can’t – or don’t want to – choose. After all, they also indicate that experiences are important. We also see in other studies that the idealism of millennials is overestimated. Millennials, for example, are the most important group in the housing market in the Netherlands. All generations indicate that they consider experiences more important than possessions, the differences are too small to speculate further. What is striking is that millennials and the generation above, the pragmatic generation, also seek experiences in their work. They want to learn and make friends at work. For the baby boomers, it seems that they have already found that, they give work an important place in their lives.


The Influence of Money on Happiness

Category : Finance

Money cannot buy happiness but studies show that money has a huge impact on happiness.

Many people aim to become a millionaire. And even if you don’t hit that high note, you would at least want to experience financial security for your family and something to hold on to when you reach senior age. Money (after all) can make anyone a lot happier.

Can Money Impact Happiness?

Various studies into the influence that money has on happiness show that money does make people happy. It is about what you do with your money and what you spend it on. But then, of course, you have to have it. And how much is enough to be happy? Tip of the veil: you don’t have to be a millionaire …

Spend smarter Spend your money on things that give you more free time. So you don’t need more money to become happier, you just have to spend it differently.

There are plenty of things with which you ‘buy time’. For a – relatively – small amount you can, for example, have your groceries delivered at home or someone who cleans your house. Although that person only comes once a month, it does give you time for other fun things!

A lot happier

So you get time in return! You can, for example, spend that on your friends or family. Or you can pick up your neglected hobby, talk to your partner, hug your turtle, visit your grandmother or annoy your best friend. And yes, that makes you happy.

Is there a lucky formula?

Yes! It is there! OMG! Research has shown that everyone’s happiness consists of three building blocks, namely: goals, charging points and people. Goals ensure that you have something to look forward to. A reason to get out of bed and have a perspective on the future. And now it comes: charging points are the biggest problem for people. You probably have a telephone and are – whether you want it or not – to a certain extent addicted to that thing. In summary: You get new impulses again and again and that costs energy.

How many knocks do you need?

If you want to be able to do all this, you need money. You have to earn enough money to be able to take free time and recharge yourself. So there is a maximum limit to which money makes us satisfied with our quality of life. What? Yes really. Research has even been done. Up to the limit of EUR 67,900 on an annual basis, more income generally means more happiness. According to this research, ‘happy’ people earn on average between € 53,000 and € 67,900 per year.