When it comes to finances, millennials are not known for being the luckiest generation. In fact, ever since the financial crisis of 2007-2008, things only seemed to be going downhill for them. They carry an average of $28,317 in debt – an amount that doesn’t include mortgages. Those are difficult enough to obtain as it is – and when they do get them, millennials reach debts of hundreds of thousands.
That being said, considering all the debt going on, you’d think that millennials don’t have enough money to set aside – let alone invest. So, why does it feel like they are now investing more than ever? Whether it’s crypto investments, stocks, or currency trades, millennials are taking a leap of faith in terms of investments. And we will find out why.
Educational Resources of Millennials
Compared to previous generations, millennials had better chances of gaining an education. Scholarships were much easier to find, and student loans were not as difficult to get anymore. Millennials are also deemed to be the most educated of all generations, with most of them striving to get at least one college diploma.
Due to their high education levels, they have more insight into how to handle their finances. Technology made it much easier for them to find the information that they need, allowing them to make a better investment. They were born in a time when you didn’t need a finance major to save money – you simply had to go on the Internet and self-educate.
The Millennial Saving Habits
Studies show that millennials are the most financially conscious of generations, saving money for various reasons. Whether it’s a down payment for a mortgage or setting money aside for that dream vacation in Brazil, they have learned to feed their savings accounts – a habit they now apply to their investment strategy as well.
The pandemic also helped them be more socially conscious with their money. They learned how easily things could go wrong with their finances, and a backup plan is recommended for an easy life. With their high yield opportunities, millennials found that investments represent a good way to make the most of their savings.
Finding Better Opportunities
Investment opportunities are everywhere. Stocks can be easily purchased, and the database of offshore Forex brokers makes it easy for you to find someone that can provide the aid that you require. Nowadays, many brokers are also famous for their zero-interest policies, which only attract more and more potential investors.
With these apps, millennials have an easier time investing – only starting with a small deposit and working their way after that. Technology also made it easy for them to see the market in real-time, with multiple investment opportunities, allowing them to make the right investment move at the right time.
The Bottom Line
Millennials are indeed investing more than ever, and there’s a mix of reasons for that. They have more opportunities nowadays, both in terms of investment options and education, and they also learned the value of putting money aside. This is why they chose to invest, as it brings them more yields.