Many Millenials Struggling To Save Money – A Solution
According to Hadley Malcom in this “Young Money” report by USA Today, many millenials are seeking long-term stability, but are living their lives with a short-term mindset. This is resulting in “a significant gap between how they feel and what they are able to accomplish.”
The report goes on to say that one third are receiving financial support from their families, and one half are living paycheck-to-paycheck. Most don’t have more than about $5,000 in savings, which won’t last long without employment income.
Even with employment, the picture isn’t much better. Wage growth has been flat, and many millenials still have tens of thousands of dollars in student loan debt. This makes it very difficult to end up with enough money left over each month to accumulate any significant savings.
There is a solution, however: build your own business to generate additional income. This is possible even if you are working and don’t have a lot of spare time if you build a business that is highly automated and does most of the work for you. MOBE (My Online Business Education) offers just such a business. Find out more at My Top Tier Business.