Shoppers are seen at Toronto Eaton Centre in Toronto on Dec. 26, 2019. COLE BURSTON/THE CANADIAN PRESSLife under pandemic lockdown has upended many things we take for granted, including the golden rules for personal finance. Gone are the days -- if they ever existed -- when cutting back on lattes was the key to financial freedom and staying away from avocado toast was a one-way ticket to home ownership.
It wasn't until she graduated from university that it occurred to her how minimal of an effect savvy spending had on her overall savings compared to the amount of income she was making. Put simply, Ding realized money coming in makes a bigger difference than money going out.In an effort to increase her income, she enrolled in classes with the CFA Institute and set the objective of earning six figures by age 25.
The daughter of two immigrants, Enriquez says it was drilled into her that university would be the path toward prosperity. But at 18, she had little idea of what she wanted to do with her life. Like many others, she settled on a major that fulfilled her personal interests , rather than any precise career goals. These interests quickly changed, however, and over the course of five years at McMaster University, so did her major - twice.
Enriquez is adamant that her geography background has in no way helped her accomplish this goal. In fact, she knows very few people who directly use their degrees in their day-to-day work - and says that for many, the financial undertaking of university is not worth it. For most, it's because of messaging they've heard from their parents. “Older generations didn't use credit cards in the same way, and so they still have this idea that credit is bad, debt is bad, spending more than you earn is bad,” Plumb says.
this is a dumb article. only thing i agree with is university being a waste. DEFINITELY AVOID CREDIT CARDS. if you use one, every day you use it, pay it off that day to build your credit score and that's it, if you cant pay it off that day, don't use it. debt is bad.
Do millennials have money to give finance tips?
I have the Mastercard retirement plan. As long as I can make the minimum payments I'm OK. Good luck collecting after I'm gone.
Skip the article. Here is what they say: 1) 'CUT YOUR DAY-TO-DAY SPENDING' 2) 'UNIVERSITY IS YOUR TICKET TO SUCCESS' 3) 'AVOID CREDIT CARDS'
Advice from a millennial: you’re not gonna retire, so spend your money now.
I guess millennials dont invest in the stock market. 😉