The generation we call Millennials are the most educated generation in history, but a good education doesn’t always mean that some Millennials can get their financial act together. The baby boomers were expected to perform financially and to a certain degree they have exceeded expectations. But many baby boomers are well below the poverty because they didn’t plan for retirement and the cost of living in the 21st century.
Millennials have a different approach to life, according to Fersen Lambranho. They don’t stay in one job like their parents and grandparents did. They jump from job to job looking for more money and a better position. They look at politics, religion and social issues differently too. They are not afraid to buck the system, and they incorporate new concepts especially in the science and technology fields.
So why are one in five young parents having financial trouble? The first reason is wages and the second reason is too much debt. Most young adults are paid less than the generation before them percentage wise, and the student loans are taking most of their cash flow. The third reason for financial stress is children. Raising children is more expensive than it was forty years ago.