How Millennials And Boomers Do Money Differently

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In this episode, Chelsea discusses the differences in how millennials and boomers handle money, much of which has to do with the world and economy they've been faced with.

Entitled millennial stereotype: https://www.youtube.com/watch?v=IZ72kWfZgwc&

Ageist stereotypes: https://hbr.org/2019/08/generational-differences-at-work-are-small-thinking-theyre-big-affects-our-behavior#

Lower average pay for millennials: https://www.cnbc.com/2019/11/05/millennials-earn-20-percent-less-than-boomersdespite-being-better-educated.html

Federal minimum wage: https://www.epi.org/publication/raising-the-federal-minimum-wage-to-15-by-2025-would-lift-the-pay-of-32-million-workers/

Share of workers holding multiple jobs: https://www.reuters.com/article/us-usa-economy-multiple-jobs/share-of-u-s-workers-holding-multiple-jobs-is-rising-new-census-report-shows-idUSKBN2AH2PI
https://www.cnbc.com/2019/09/19/survey-how-much-millennials-gen-x-make-from-side-hustles-on-average.html#:~:text=Millennials%20surveyed%20said%20they%20made,baby%20boomers%20(%245%2C892)%20reported.&text=Millennials%20were%20defined%20as%20those,boomers%20ages%2055%20to%2073

Homeownership by generation: https://www.businessinsider.com/millennials-own-less-real-estate-than-boomers-statistic-2020-1

Homes are more expensive: https://studentloanhero.com/featured/millennials-have-better-worse-than-generations-past/

Rising rental costs: https://studentloanhero.com/featured/millennials-have-better-worse-than-generations-past/

Differences in generational spending: https://smartasset.com/checking-account/how-different-generations-spend-money-2020

Millennials say no to McMansions: https://www.wsj.com/articles/a-growing-problem-in-real-estate-too-many-too-big-houses-11553181782

Banking stats: https://www.thebalance.com/where-do-millennials-bank-and-why-4428054

Rising bank fees: https://www.cbsnews.com/news/bank-fees-hit-a-record-high-this-year-2019/

Retirement: https://www.businessinsider.com/personal-finance/millennials-baby-boomers-financial-behavior-money-habits-2019-4#but-more-millennials-than-boomers-expect-to-never-retire-at-all-around-9-compared-to-4-of-boomers-and-18-of-millennials-dont-know-when-theyll-retire-compared-to-13-of-boomers-9

Millennial wealth gap: https://www.businessinsider.com/pandemic-widened-millennial-wealth-gap-economic-inequality-rich-poor-henry-2021-1

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