The Financial Diet

How Millennials And Boomers Do Money Differently (2021x54)

Air date: Jun 07, 2021

This video is sponsored by monday.com. Click here to get a 28-day free trial: https://hey.monday.com/TheFinancialDiet In this episode, Chelsea discusses the differences in how millennials and boomers handle money, much of which has to do with the world and economy they've been faced with. Entitled millennial stereotype: https://www.youtube.com/watch?v=IZ72kWfZgwc& Ageist stereotypes: https://hbr.org/2019/08/generational-differences-at-work-are-small-thinking-theyre-big-affects-our-behavior# Lower average pay for millennials: https://www.cnbc.com/2019/11/05/millennials-earn-20-percent-less-than-boomersdespite-being-better-educated.html Federal minimum wage: https://www.epi.org/publication/raising-the-federal-minimum-wage-to-15-by-2025-would-lift-the-pay-of-32-million-workers/ Share of workers holding multiple jobs: https://www.reuters.com/article/us-usa-economy-multiple-jobs/share-of-u-s-workers-holding-multiple-jobs-is-rising-new-census-report-shows-idUSKBN2AH2PI https://www.cnbc.com/2019/09/19/survey-how-much-millennials-gen-x-make-from-side-hustles-on-average.html#:~:text=Millennials%20surveyed%20said%20they%20made,baby%20boomers%20(%245%2C892)%20reported.&text=Millennials%20were%20defined%20as%20those,boomers%20ages%2055%20to%2073 Homeownership by generation: https://www.businessinsider.com/millennials-own-less-real-estate-than-boomers-statistic-2020-1 Homes are more expensive: https://studentloanhero.com/featured/millennials-have-better-worse-than-generations-past/ Rising rental costs: https://studentloanhero.com/featured/millennials-have-better-worse-than-generations-past/ Differences in generational spending: https://smartasset.com/checking-account/how-different-generations-spend-money-2020 Millennials say no to McMansions: https://www.wsj.com/articles/a-growing-problem-in-real-estate-too-many-too-big-houses-11553181782 Banking stats: https://www.thebalance.com/where-do-millennials-bank-and-why-4428054 Rising bank fees: