Some say Gen Y can’t adult.
Others say they’re self-absorbed, tech-reliant idiots who ride the wave of their parents’ hard work (yikes, harsh).
But the actual truth is that they’re the most influential, powerful, transnational consumer market in history – and growing.
As young people start earning their own money and making big life decisions (in case you were wondering, yes, extra guac is always a good idea), they’re changing the economy as we know it in a big way.
Spending more, doing more, living more: Gen Y lifestyle choices are driven by their aspirational values.
Despite the fact that they’ll most likely face pressure from their parents (and society) to:
- Go to uni
- Get a job
- Save up
- Buy a house
- Settle down with a significant other
- Pop out 2.3 children, and
- Adopt a puppy…
- Traveling straight after school
- Studying something that probably wasn’t around 20 (or even 10) years ago
- Changing jobs at least 12 times before they turn 30
- Moving interstate or internationally
- Having kids later in life
- Being pickier about who they settle down with, and
- Quite frankly, a golden retriever just doesn’t fit into that plan.
The reality is that they’re spending their disposable income (and believe us, there’s a lot of it) on life experiences, travel and yes, occasionally, extra guacamole on their Mexican takeaway.
A common theme is exploring in your 20s and 30s (while you’re able-bodied), then settling into a settled routine.
So moral of the story is this: don’t feel bad if you don’t have a mortgage or a stack of cash saved up for retirement. Why wait till you’re over 50 to experience the good life?
Where we got our info:
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