The Millennials are a generation that is synonymous with incompetency and laziness. Many people from the Baby Booomer and Generation X generations believe Millennials to be so ill-equipped to handle everyday life that they envision these individuals as hiding out in their parents' basements, binging on video games and spending copious hours on social networking sites. Of course, such a broad generalization does not ring true for everyone born in that particular generation. However, it does some hold truth in that Millennials are statistically proven not to know how to navigate some aspects of adult life, which is why many are now hiring a Millennial life coach to teach them.
These types of coaches teach a variety of lessons to people in this age category. Among them, money management is typically labeled as one of the most important. People today in their 20s and early 30s many times report being unable to balance a checkbook, pay their bills on time, or save money for the future. Many of them are living paycheck to paycheck and feel controlled by their finances rather than the other way around.
For example, many people in this generation have never been taught to balance a checkbook. With more people using debit or credit cards to pay for things, they never think to look at their own accounts and make sure their banks are taking out the right amount of money. They sometimes lose money from their accounts or never realize they are accruing interest and cash back rewards. Coaches show them how to manage money as well as save it.
Another critical tip provided by coaches involves saving for retirement. For people in their 20s and 30s, retirement may seem like a far away goal. They might believe they have ample time to put back money for this purpose. Coaches teach them that saving now is better than saving later. They also learn about the importance of savings accounts.
They learn to take 10 percent of whatever they earn each pay period and put it in a savings account, 401k, or Roth IRA account. They are often advised to forget they have this money in savings to avoid spending it on frivolous items. They will have the cash to use later in case their car breaks down, they suffer a medical emergency, or for retirement decades down the road.
People of the generation are also relatively ignorant about investing. They figure investing is for people who make large sums of money or wealthy individuals who come from old money families. The idea of opening an investment account frightens some of them because of how difficult it seems.
Coaches instruct them on how to find websites that allow people to launch their own investment accounts with relatively small amounts of funds down. They also are advised on trading and selling stocks, buying commodities, and investing in bonds and certificates of deposit. In a short amount of time, they could have investments as part of their assets.
A life coach can help Millennials learn the basics of navigating adult life. They teach people basic lessons like saving money, paying rent, and investing. These lessons help people become independent and no longer afraid of venturing out on their own into the adult world.
These types of coaches teach a variety of lessons to people in this age category. Among them, money management is typically labeled as one of the most important. People today in their 20s and early 30s many times report being unable to balance a checkbook, pay their bills on time, or save money for the future. Many of them are living paycheck to paycheck and feel controlled by their finances rather than the other way around.
For example, many people in this generation have never been taught to balance a checkbook. With more people using debit or credit cards to pay for things, they never think to look at their own accounts and make sure their banks are taking out the right amount of money. They sometimes lose money from their accounts or never realize they are accruing interest and cash back rewards. Coaches show them how to manage money as well as save it.
Another critical tip provided by coaches involves saving for retirement. For people in their 20s and 30s, retirement may seem like a far away goal. They might believe they have ample time to put back money for this purpose. Coaches teach them that saving now is better than saving later. They also learn about the importance of savings accounts.
They learn to take 10 percent of whatever they earn each pay period and put it in a savings account, 401k, or Roth IRA account. They are often advised to forget they have this money in savings to avoid spending it on frivolous items. They will have the cash to use later in case their car breaks down, they suffer a medical emergency, or for retirement decades down the road.
People of the generation are also relatively ignorant about investing. They figure investing is for people who make large sums of money or wealthy individuals who come from old money families. The idea of opening an investment account frightens some of them because of how difficult it seems.
Coaches instruct them on how to find websites that allow people to launch their own investment accounts with relatively small amounts of funds down. They also are advised on trading and selling stocks, buying commodities, and investing in bonds and certificates of deposit. In a short amount of time, they could have investments as part of their assets.
A life coach can help Millennials learn the basics of navigating adult life. They teach people basic lessons like saving money, paying rent, and investing. These lessons help people become independent and no longer afraid of venturing out on their own into the adult world.
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Get a summary of the things to consider when picking a life coach and more information about a knowledgeable millennial life coach at http://www.guidinglifecoaching.com/about now.
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