Although I love to blog about entertainment, fashion and beauty; I am a stickler for financial stability!
Even though I'm a year post-grad and jobless, *cues violins*, I spend a lot of my time reading financial improvement websites. Balancing the little bit of cash I have left between the bloodsucker that is Sallie Mae (I say that with LOVE) and my day to day travel expenses, I realized that the key to living comfortably is living within your means AND planning ahead.
One of my recent favorite money websites has been www.LearnVest.com. They write really great articles that are geared towords females gaining and maintaining great finances. I recently read an article titled The 6 Gen Y Spending Types: Which One Are You? and I thought i'd share it with you all!
Click "READ MORE" to see which type of spender you are...
The 6 Spending Types:
- Hip-ennials- Hip millennials are optimistic but cautious. They believe they can have a positive impact on the world. They splurge on anything that gives a percent back to charity. And often their do-gooding hearts are bigger than their current budgets.
How to save if you’re a hip-ennial: Remember, just because it does good doesn’t mean it won’t blow your budget.
- Millennial Moms: Millennial Moms spend lots of time online. When it comes to money, they value health, travel and pampering their children.They splurge on health, wellness and family. They will pay whatever it takes for the latest juice cleanse, family-friendly cruise or Mommy & Me developmental class.
How to save if you’re a millennial mom: It's important for millennial moms to set up a “set-aside” system early. Having automatic deductions put into your emergency fund, retirement savings and your kids’ college accounts will ensure you can support your kids in style today and tomorrow.
- Anti-Millennials: Traditional, hard-working and frugal, their top concerns are their family and their work-related goals. They value comfort and success first and foremost. They splurge on anything they can justify in the name of efficiency–think high speed mobile modem or paying for a maid service.
How to save if you’re an anti-millennial: Rather than saving money, you might want to strategize about how to save yourself. It’s important for anti-millennials to put aside part of their budget for little splurges so they remember that life isn’t all work and no play.
- Gadget Gurus: They’re laid-back, but also pride themselves on being in the know: For example, when Facebook acquired Instagram, they took to Twitter in droves to appear “cool.” They splurge on the “latest” cell phone and make constant tech upgrades to computers and electronics.
How to save if you’re a gadget guru: Avoid the trap of buying the latest gadget just because it’s new, and, instead, focus on those that will really enhance your life.
- Clean and Green Millennials: Gen Y are “clean and green” millennials who are cause-driven, extremely positive and environmentally minded. Their money tends to go to supporting not just themselves, but everyone around them. They splurge on hemp-based, recycled, eco-friendly products.
How to save if you’re a clean and green millennial: First, create a “charity” section of your budget so you can see exactly how much drop on eco-spending. You can support your beliefs (for free!) by getting out and doing clean-ups, organizing awareness campaigns and recycling.
- Old-School Millennials (ME!): They are much less into technology, are conservative spenders and, unlike the majority of their peers, prefer real-life to online interactions. They splurge on experiences as opposed to products. Vacations, comedy nights, dining out and concerts are the big ticket items.
How to save if you’re an old-school millennial: You’ll benefit by signing up for LearnVest’s My Money Center, where you can create a free budget, along with folders for every category you spend on—like concerts, restaurants and vacations. This will help you track exactly how much you spend each month.
From reading this, I fall into the smallest category, which is Old-School. I will definitely be using that budget tool!
Which spender are you?
P.S: Don't forget to enter my PrintRunner giveaway! It's open until next Friday.