The best millennial finance stories of the past fortnight

A selection of the best millennial finance stories from the past fortnight. Find out why not all millennials fit the avocado munching mould, why they could be threatening the credit card and how gambling is on the rise among this age group.

New study reveals millennial business owners differ in surprising ways

A new study has revealed key differences in the way millennial and other groups go about doing business. According to the Small Business Leaders Outlook Survey 2018, millennial business owners are more optimistic and likely to be growth focused. This has seen them recruit at a faster rate than other age groups and also increasingly open to seeking credit and other forms of finance.

Home improvement: action to address the housing challenges faced by young people

An alarming report was published by the Resolution Foundation this week which suggested that up to a third of millennials may never get onto the housing ladder. Currently, up to 40% of this group were still renting by the time they were 30 and the report raises further concerns that they face a future of renting, with all the uncertainty that can bring.

There’s a term for people born in the early 80s who don’t feel like a millennial or a Gen X-er – here’s everything we know

Webster’s dictionary is said to be closely watching the term “xennial” according to this article. This millennial segment was born between 1977 and 1985 and shares characteristics with both younger millennials but also gen x-ers, being the youngest generation to remember the days before mobile phones and the internet changed everything (many younger millennials won’t). They’re also more likely to have been shaped by the Great Recession as they will either have been entering the workforce at this point or several years into their career and therefore directly affected by the resulting contraction in the job market

Why society’s “millennial” stereotype erases young Northerners

Further evidence that not all millennials are the same. This piece unearths another group of millennials, who are far removed from the traditional stereotype of the avocado eating, hipster millennial that dominates the agenda of marketeers: the “northern millennial”. According to the article, this group is more likely to be in a lower paid job and to already have children.

Debt conscious millennials are a threat to credit cards

The future of the credit card could be in doubt, if current trends are anything to go by. A recent report by Bankrate.com found just one in three millennials has a credit card. High levels of student debt and the fact that this age group spent their formative years in the shadow of the credit crisis are thought to have made them more debt averse.

Home improvement: action to address the housing challenges faced by young people

An alarming report was published by the Resolution Foundation this week which suggested that up to a third of millennials may never get onto the housing ladder. Currently, up to 40% of this group were still renting by the time they were 30 and the report raises further concerns that they face a future of renting, with all the uncertainty that can bring.

Millennial money: Gambling apps are draining my friends’ finances

With more than one fifth of 18-24 year old millennials admitting to having gambled at work, this piece explores the rise of gambling among millennials. Apparently, millennials were responsible for the biggest rise of online gambling of any generation, and, as gambling apps make it easier than ever to bet online, this could represent a worrying trend.

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