The Millennials are a generation that is synonymous with incompetency and laziness. Many people from the Baby Booomer and Generation X generations believe Millennials to be so ill-equipped to handle everyday life that they envision these individuals as hiding out in their parents' basements, binging on video games and spending copious hours on social networking sites. Of course, such a broad generalization does not ring true for everyone born in that particular generation. However, it does some hold truth in that Millennials are statistically proven not to know how to navigate some aspects of adult life, which is why many are now hiring a Millennial life coach to teach them.
These types of coaches teach a variety of lessons to people in this age category. Among them, money management is typically labeled as one of the most important. People today in their 20s and early 30s many times report being unable to balance a checkbook, pay their bills on time, or save money for the future. Many of them are living paycheck to paycheck and feel controlled by their finances rather than the other way around.
Their coaches teach them how to balance their checkbooks and set up a schedule by which to pay their monthly bills. If their rent is due on the first of each month, for example, people learn to set aside money from the last of the month with which to pay their rent. Likewise, if their utilities are due during the middle of each month, they learn to use their first paycheck each month to satisfy these expenses.
Coaches also teach pupils to save money to put in a savings account or toward retirement. For some people in this generation, they have never heard of the rule of saving 10 percent of their income each time they get paid. They spend all of their money instead of putting some up in case of emergencies or for later uses like retirement.
One of the tasks they may have to accomplish during their coaching involves opening a retirement savings account. This could be a 401k, Roth IRA, or another tax-exempt account. They then are instructed to put ten percent of whatever they earn each pay period into that account. They are told the money will come in useful for emergencies like car repairs, medical expenses, or retirement later.
People of the generation are also relatively ignorant about investing. They figure investing is for people who make large sums of money or wealthy individuals who come from old money families. The idea of opening an investment account frightens some of them because of how difficult it seems.
Coaches instruct them on how to find websites that allow people to launch their own investment accounts with relatively small amounts of funds down. They also are advised on trading and selling stocks, buying commodities, and investing in bonds and certificates of deposit. In a short amount of time, they could have investments as part of their assets.
A life coach can help Millennials learn the basics of navigating adult life. They teach people basic lessons like saving money, paying rent, and investing. These lessons help people become independent and no longer afraid of venturing out on their own into the adult world.
These types of coaches teach a variety of lessons to people in this age category. Among them, money management is typically labeled as one of the most important. People today in their 20s and early 30s many times report being unable to balance a checkbook, pay their bills on time, or save money for the future. Many of them are living paycheck to paycheck and feel controlled by their finances rather than the other way around.
Their coaches teach them how to balance their checkbooks and set up a schedule by which to pay their monthly bills. If their rent is due on the first of each month, for example, people learn to set aside money from the last of the month with which to pay their rent. Likewise, if their utilities are due during the middle of each month, they learn to use their first paycheck each month to satisfy these expenses.
Coaches also teach pupils to save money to put in a savings account or toward retirement. For some people in this generation, they have never heard of the rule of saving 10 percent of their income each time they get paid. They spend all of their money instead of putting some up in case of emergencies or for later uses like retirement.
One of the tasks they may have to accomplish during their coaching involves opening a retirement savings account. This could be a 401k, Roth IRA, or another tax-exempt account. They then are instructed to put ten percent of whatever they earn each pay period into that account. They are told the money will come in useful for emergencies like car repairs, medical expenses, or retirement later.
People of the generation are also relatively ignorant about investing. They figure investing is for people who make large sums of money or wealthy individuals who come from old money families. The idea of opening an investment account frightens some of them because of how difficult it seems.
Coaches instruct them on how to find websites that allow people to launch their own investment accounts with relatively small amounts of funds down. They also are advised on trading and selling stocks, buying commodities, and investing in bonds and certificates of deposit. In a short amount of time, they could have investments as part of their assets.
A life coach can help Millennials learn the basics of navigating adult life. They teach people basic lessons like saving money, paying rent, and investing. These lessons help people become independent and no longer afraid of venturing out on their own into the adult world.
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Get a summary of the things to consider when picking a life coach and more information about a knowledgeable millennial life coach at http://www.guidinglifecoaching.com/about now.
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