The 5 Biggest Mistakes Millennials Are Making With Their Money

Gen 2 Gen Chat

Millennials aren’t necessarily focused on financial planning.  Many, like other generations at their age, are struggling to live in the present. They are straddled with high rent and student loan debt (Millennial student loan debt totaled $1.2 trillion in 2015, more than any other generation).  Millennials also want work/life balance with more focus on lifestyle.  That lifestyle often includes lots of Starbucks, spin classes, and travel. Nothing wrong with that, but having fun can be expensive!

The article shared below, written by a contributing financial planner, offers some interesting thoughts.  The author suggests that instead of paying off your loans earlier by paying an extra $50 or so per month, you may be better off investing that money aggressively for the long term off by putting it into an employer matched 401 (k).  Some of the suggested Millennial mistakes in the article are common sense, and pitfalls many of…

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