Money Matters on the Millennial Front.

Do you have a financial plan? Credits: Daily Express.

The stuff of nightmares brought forth during our childhood years were often intensified by Hollywood movies, from clowns to witches and ghouls. If you’re a fan of Japanese horror movies, you will be plagued by many sleepless nights.

But the stuff of nightmares that we, millennials, face are more frightening than a sheet of white with long black hair. With the blessings of a priest, or a sprinkle of holy water and a few lines of the Bible, you might just be able to tell the spirit to GTFO. But what we face today cannot be chased away with mere biblical verses.

What I’m getting at today is what we have been facing for a long time now, ever since we graduated from university with a triumphant smile, a punch in the air, and a degree in our hands. Thus began our journey towards financial deterioration.

So, how did we get here?

Credits: The Daily Posh.

We worked so hard, buried ourselves under mountains of pressure while burning the midnight oil, and suffered failure just to emerge (bruised and battered, no less) with a piece of paper that was supposed to guarantee us a career, only to learn that we are now strapped for cash and are unable to have a life and live it?

I had trouble sleeping last night because of the increasing financial pressure. I do have a few savings plans. But they are not enough. I’m not looking to retire comfortably with a yacht docked at the Mediterranean, or with a few studio duplexes under my name. No. They are not enough because the interest rates are low, the cost of living is high (and it still rises from time to time), and – this is where things get interesting – because of the weakened economy, we find it hard to secure a job, let alone save money for our future.

So tell me, where did we go wrong?

We need money to save money. We need experience to get work experience. There has got to be something wrong somewhere with these two equations. Because we neither have the money to save money, nor do we have any experience to get work experience. Remind me again why we are work ourselves to the bone when, at the end of the day, we end up working to get poor.

millennial money matters
A millennial’s financial concerns. Credits: Life Happens.

Judging by the way it looks, we might all end up living in cardboard houses by the time we grow old. But we can’t let that happen now, can we? We can’t, and we won’t, and we definitely shouldn’t let that happen to us.

What you can do if you find yourself financially poorer when you shouldn’t even be in the first place:

  • Replace your favourite luxury brands to something less dollar-draining
  • If you really need retail therapy (books or clothes), wait until there is a sale
  • Preparing your own meals is both cheaper AND healthier
  • Shop around for more options instead of settling on the first thing you see
  • Donate or sell unused / preloved items to someone who will find a use for them
  • Make full use of your office’s water dispenser instead of buying a bottle of water at lunch time
  • Carpooling with friends or colleagues will save money on petrol, toll, and the environment
  • Review your mobile package deals if you find that there are some features you hardly use
  • Pounding the pavement is free of charge compared to paying for a gym membership
  • Be your own handyman for repairs you can do. It will save you a hell lot of money!
  • Grow your own vegetables for pesticide-free and organic produce
  • Assess, analyze, and audit your daily spending – can you really do without some things in your life?
  • Use vouchers and in-store incentives to get discounts on your favourite items. Don’t forget to bring your membership card!

Source: Daily Express.

These would do for now. Unless you have a better idea, then do share them with me. We need to really start saving our skins, because no one is going to do this for us. You can also find some top tips here at CommonBond, Inc. Or quickly fix an appointment with your financial planner!

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