Plenty of negative descriptors have been associated with millennials, making it seem like they are the generation that will bring the economy down. This is not the reality, however, as millennials are also known to be more financially savvy than Gen X. They have also learned from the mistakes of those before them, particularly during the economic crisis of 2008.
With these said, these are what millennials are doing to secure their future and the economy:
Venturing into Entrepreneurship Early
It takes a lot of courage for an individual to lay their savings on the line just to get a business going. Millennials are taking the jump with caution, but with plenty of wise advice on their back. They come up with innovative solutions to lifestyle problems that did not exist generations before, either. With their exposure to the world through traveling and social media, they gain insight into the things that need to be addressed as soon as possible, and they take action to be the one to address it.
Taking Company Culture Seriously
Millennials make good employers because they allow for flexibility and opportunities for growth in the workplace. The rigorous job descriptions is gone; a person who is wise or skilled enough can carve a niche for himself and set his path in the company. Millennial bosses also take company culture as a marker for growth, which means they do their best to keep turnover rates low. Even small decisions, such as offering free lunches and getting cleaning services from providers like ProKleen, contribute to the overall growth of their company in Utah.
Moving Out of Expensive Cities
Real estate prices are reaching record-breaking highs. At a meager salary, millennials know to look for better housing options elsewhere. This is why they’re leaving the Bay Area to scout for houses in Utah, Oregon, and other places that will not bury them in debt. San Francisco and New York, home to the dreamy but underpaid, continue to experience one-way outgoing moves while real estate prices are rising.
There’s plenty of bad to see in millennials if that’s what you want to focus on. But there is merit in how they view investing, and that just might be what secures the future.