I can understand why millennials are putting money into crypto's. They have been let down by the system because the system is failing. A lot of Millennials do need to consider saving more than they spend on consuming though. I often see them throwing their credit cards around in bars drinking expensive drinks and wearing designer clothes. These were things that were considered a luxury and not affordable when I was in my 20's and 30's.
I think it is debt that will hamper millennials, and anyone in that age group reading this should avoid debt at all costs and invest in real assets. This will give them a long term advantage in relation to their peers.
If I can share my experience - In my 20's, some of my friends got into debt to buy nice cars, mobile phones (yes they cost a lot of money back then) and other luxuries. At the same time I went without, investing money in my education and saving and investing. At one stage I remember being at a festival with holes in my shoes while my friends drank champagne. Now, many years later, they live in small rented apartments and houses and I own my own house outright. I didn't enjoy the festival any less because I had holes in my shoes, and I enjoy a stress free life with choices now, while some of the people I still know have quite stressful lives.
You are viewing a single comment's thread from:
Congratulations! This post has been upvoted from the communal account, @minnowsupport, by unc.hermit from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews/crimsonclad, and netuoso. The goal is to help Steemit grow by supporting Minnows and creating a social network. Please find us in the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
This comment has received a 0.63 % upvote from @drotto thanks to: @banjo.