Jul 11, 2012

Money Matters: The Generation Y Spending Types


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?

~Confessor

P.S: Don't forget to enter my PrintRunner giveaway! It's open until next Friday.

31 comments:

  1. that's really interesting! we always talk about 'expenditures in fashion' but never talk about how we spend and manage our money.
    well done babe and thank for sharing it.
    there are great advices!!

    Love, Ylenia from Longuette

    ReplyDelete
  2. I am definitely frugal. I love spending but majority items that I buy are on sale and I plan purchases, vacations,etc...I am most definitely not an impulse spender.

    ReplyDelete
  3. Very cool topic! I am actually a combination of anti-millenial and old school! I am somewhat conservative and frugal (I've always saved >50% of salary and never bought big ticket items until the last few years). But I have always splurged on travel. I'm taking two big trips to two destination weddings in the fall. But I also get a lot of travel through work so I'm not itching as much to travel either. I am also finally starting to reward myself and splurge on shoes and a crazy handbag and jewelry. Money after all is a means to sustain, maintain and reward ourselves right?
    Thanks for stopping by and have a lovely week!

    xoxo,
    Chic 'n Cheap Living

    ReplyDelete
  4. Love the article, but IDK where i fit in lol Guess I'm a little mix of old school and millenial mom :)I feel ya on the post grad and jobless, I JUST started working after graduating June 2011 *sigh* so it might take forever, BUT trust it will happen :)

    www.rewindfashforward.com

    ReplyDelete
  5. GREAT POST:)
    Your blog is so wonderful and Im following...I hope you follow me also:)

    If you want some cute swedish decor inspiration...check out my new post:)

    Have a great week.

    LOVE Maria at inredningsvis.se
    (sweden)

    ReplyDelete
  6. I love this!! Lately Ive been trying something Ive never tried before its this thing called saving lol. Im only 23 but time waits for no one so Ive been trying to cut back on my shopping which isnt working out too well but Im trying :/


    Editor & Chic

    ReplyDelete
  7. such a cool post! dont think i'm any of these though.. they need to come up with a new box for my spending habits!:-)

    ReplyDelete
  8. I did a presentation similar to this survey! Gen Y is interesting to study.
    -MalibuMara

    ReplyDelete
  9. This is a great post, but I don't think I'm any of these... maybe part old-school, part hip... part mom (even though I'm not one...) hhehehe...

    ReplyDelete
  10. Love your blog! Great post and amazing article :)

    love
    http://www.meghasarin.blogspot.com

    ReplyDelete
  11. THis was a great post but I'm not sure which one I am... they need to make a whole new category for this spendaholic. You have a new follower now :)

    xx Jenee C.
    http://camomeetscouture.blogspot.com

    ReplyDelete
  12. I know I'm the type of girl who will need to make a LOT of money to 1) be fulfilled, 2) not have to end up being a stripper. Or worse, go to the red-light district in Amsterdam and see what happens.
    Love,

    S

    www.sonushka.com


    ReplyDelete
  13. hola!!! yo creo que una de las formas de ahorrar es teniendo una lista de lo que compramos y analizarla ,y sacar conclusiones. Organizarnos,priorizar, y reciclar lo que tenemos olvidado, como prendas, maquillaje, etc.
    Cocinar en casa y comer en casa tambien es una forma de ahorrar, llevarnos a la escuela o el trabajo comida hecha por nosotros.
    Hay muchas formas de ahorrar y utilizar el dinero de manera responsable, solamente hay que tener controlados ciertos aspectos. Toda crisis pasa, los latinos estamos acostumbrados a vivir en situaciĆ³n de crisis y tenemos mas respuestas, como las que te mencione al comienzo.
    Solamente hay que tomar las cosas con responsabilidad y una buena actitud,y siendo positivo todo se ve desde otra perspectiva.
    MUY BUEN TEMA! BESOS Y ABRAZOS DESDE URUGUAY
    SABI
    herencianomade.blogspot.com

    ReplyDelete
  14. I'm definitely an old-school millennial! Interesting article :)

    ReplyDelete
  15. love your blog! It's so nice!!! I follow you!
    Pass to my blog and if it likes you follow me too, I will be so glad :D
    kisses
    http://francescagiusti.blogspot.com/

    ReplyDelete
  16. hmmmm. i don't know which one of these represents me. my dad always says it's not how much you make, it's how much you have so i'm a big saver. but he also says you can't take it with you when you're gone, so i also splurge when i feel like it.

    ReplyDelete
  17. Very interesting post! I am definitely the last type, like you, the old school millennial!
    Thanks for the advices, your blog is very useful and nice!

    ChicToChic

    Marta

    ReplyDelete
  18. You have what it takes to make this blog a success!

    ReplyDelete
  19. love it! so perfect

    http://fashionhandglide.blogspot.ca/

    ReplyDelete
  20. sounds very useful. I think I should think of planning on money part more than I actually do

    Lyosha
    Inside and Outside Blog

    ReplyDelete
  21. great post! im not sure which one i am still but I did enjoy reading this article
    www.sugarfilledcloset.com

    ReplyDelete
  22. What happened? Jobless by choice?

    BLEURGH
    www.say-bleurgh.blogspot.com

    ReplyDelete
  23. I like this post, you are totally right! Thanks you so much for your comment on my blog ;) ! If you want there's 3 items totally made in FRANCE to win if you enter my give away ;) it's very simple!

    Much Love, ThePeppyMay

    http://thepeppymay.blogspot.fr/2012/07/give-away-concours-3-gifts-to-win.html

    ReplyDelete
  24. oh I definitely spend too much money online.. seriously I can resist I definitely need a shopping ban :-)

    ReplyDelete
  25. This is such an interesting post. Thank you for dropping by my blog. xx

    feminine-art.blogspot.com

    ReplyDelete
  26. Very interesting post! I think I'm a combination of an anti millennial and an old school millennial. Vacations and experiences are important to me. :)

    xo
    Quiet Luxury

    ReplyDelete
  27. Thank you to let us know you a bit more! :) Interesting post! xoxo
    NL.

    ReplyDelete
  28. Great article doll!*
    Thanks for sharing & good luck with budgeting & saving =)

    xXx

    luxachic.com

    ReplyDelete
  29. Hiiii girlfriend thanks for the comment and im following you ;) your blog inspired me and i love brocklyn and nyxoxox lia

    ReplyDelete

**Due to a dramatic increase in spam comments, verification has been turned on until further notice.**

Dont be afraid, confess your thoughts!
And by "thoughts" I do mean thoughts about this post, not a generic "Hey, love your blog, wanna follow each other?!"

;-)

Be sure to follow me on:
Twitter @SherineP
Bloglovin
and Instagram EnerjieeBySherine

Popular Posts