The carpe diem of millennials
The millennial generation, the one starring young people born between 1983 and 1999, not only has great differences in consumption trends with respect to their predecessors, but also in the way of seeing and understanding life. And it is that, according to a study recently published by Bank of America Corporation , those who now move in the age group that goes from 18 to 34 years barely save thinking about their future; his priority: to enjoy the present as much as possible.
Being the latest in fashion, acquiring technology frequently, eating and dining out, traveling, traveling and traveling are some of the priorities of millennials, for whom the concepts of "retirement", "savings" or "future investment" they don't make, at least for the moment, much sense. A concept of life very different from that maintained, at the same age, by the so-called seniors, currently over 72 years old, or the baby boomer generation, between 53 and 71 years old. It is even different from the lifestyle of the popular "generation X", aged 35 and 52, who touched the dream of "live in the present regardless of the consequences" with their fingers to find themselves now immersed in a difficult job market and the need to face difficulties such as paying the mortgage or raising children.
More than 60% save to maintain your lifestyle
"Millennials are the first generation to plan long-term for financial freedom rather than retirement," reads the Bank of America study. 63% save to preserve a lifestyle very focused on the consumption of goods and services, while only 37% save to be able to stop working as soon as possible and live comfortably during their retirement from work. And although the study data have not been obtained from a Spanish sample, they can be perfectly extrapolated to our country. 42% save less than 10% of their salary and 7% save nothing .
Looking for financial support
For those who grant savings an important chapter of the family economy, millennials live practically from day to day. Perhaps this is one of the reasons why the demand for fast loans or online microcredits grows for this type of consumer, since obtaining fast money in a simple and comfortable way through a smartphone not only fits with the lifestyle of this generation but with their spending needs.
If you are one of them, keep in mind that obtaining up to 1,000 euros is a matter of a few minutes, so it becomes the perfect answer to face the payment of the mortgage or rent, of a trip abroad or of a new mobile phone.