Reaching the millennial generation through financial education
by: Jason Vitug
I recently read a post by fellow community blogger, Bryan Clagett, asking the question, “What does financial education really mean?” I thought it would be an opportune follow-up to address the very same question as viewed by my generation, the Millennials.
Just last year, articles noted how financially ill-prepared we were and now the tables have turned with data reflecting our real attitudes towards savings, spending and retirement. According to Time magazine, “70 percent of millennials started saving for retirement at an unprecedented young age of just 22 years old. By contrast, the average boomer began saving at age 35, while Gen X’ers got started at 27.”
We grew up from one economic crisis to another and also the war against terror. These environmental factors shaped our values around living richer lives that include sound financial management. We are aware of the importance of saving money and the impact of debt. We are loyal to brands that are experts in their field, transparent and offer solutions in line with our values.
Tom White, CEO of iQuantifi a platform targeting millennials and provides a virtual financial advisor, echoed my sentiments about my generation. He states that “the past economic crisis and current debt burden are causing this generation to focus more on their finances and how to achieve financial goals much earlier than previous generations.”
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