How Millennials Are Doing Money Management Differently

We’re no stranger to how different life looks for millennials when compared with previous generations. The internet and mobile technology have fundamentally changed how we carry out our personal and professional lives.

Money management is another part of daily life that’s getting a makeover now that millennials are coming of age. From earning to investing money, Generation Y is doing things a bit differently.

Little Faith In The Stock Market

One of the most significant differences between the millennial generation and Baby Boomers is the former’s aversion to risk. Millennials are likely to purchase a more comprehensive healthcare plan even if it means higher monthly premiums. They’re also much less likely to invest in the stock market than previous generations.

If there’s a generalization about millennials that seems to hold water, it’s that they’re more skeptical than previous generations and more likely to keep their savings in a checking account or even cash. Thanks to their general mistrust of the government’s fiscal direction and the average corporation’s profit-first mentality, millennials tend to avoid investing in the stock market altogether, fearing the risk won’t pay off.

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