Tech, Money, Now + Beyond

Millennials aren’t to blame for your awful spending choices, Baby Boomers

I guess we aren't lazy and entitled after all. 

The older generation has always made negative assumptions about young people. The way we communicate. The way we dress. Remember when the media demonized teenagers who wore a hooded jacket in 2009.

Yes, you could say it was a rough year for news.

But this still remains a problem in society today, particularly towards those aged 18-34. Like teenagers and young adolescents, we are put into one stereotype or another.  Are you a student or not? Do you work and make money or do you receive benefits?

There is no in between. However, there is an assumption that relates to us all, no matter if you are a student or working as a part-time bartender. That we spend money recklessly and live week by week.

My grandmother has the same mindset and criticizes my spending habits. “You spend money willy nilly,” she proclaims as I willingly hand over my bank card to the cashier.

I know her comments about money were made in jest, however, it does reflect what a majority of her generation think about millennials in wider society. That we aren’t saving money and we aren’t thinking about the future.

Mizuho Securities begs to differ. An 85-page report by the investment bank shows how the assumption that millennials are wasting their money is patently wrong.

The Business Insider draws upon the main findings from the report that surveyed more than 1,500 millennials aged 18-34. One of the biggest findings is that we are saving more money than the national average.

According to the study, millennials allocate about 6.7% of their total budget toward a savings account of some sort. This is above the US national savings rate of 5.5% by more than one percent.


Millennials don’t always live for the moment and spend money. This was proven correct by the finding that we are planning to buy homes.

While we are delaying home-buying and marriage and children (sometimes not by choice, some of us are still single *sobs*) we are planning to achieve those life milestones eventually. According to the report, when asked about they are saving for, millennials said (1) a house, (2) a car, and (3) retirement.


The results from the report by Mizuho Securities are promising for us. While we do face prejudice from the media and older generation, they don’t know what it means to be a millennial in wider society today.

Being a millennial means thinking ahead and worrying about the future. How many student loans have accumulated.  The cost of renting or buying a house if possible. The means to settle down and start a family.


All of the above should be considered at least five years in advance. With the current state of the economy, millennials are consciously aware that it’s better to be safe than sorry when planning their future.

I guess we aren’t lazy and entitled after all.