Millennials, in general, are characterised by being familiar with a huge variety of digital technologies and communication methods. Current research has focused on the recent economic depression, and the long- and short-term effects that this is having of Millennials and their ability to progress in life both socially and economically.
Here there are 5 important things to understand about millennials' lifestyle
1. Changed Values Influence the Lifestyles of Millennials
Millennials definitely hold vastly different values than previous generations, which is possibly one reason for the negative stereotypes which have risen around them. Rather than work and live solely for themselves, as generations which came of age in the seventies did, Millennials look outside themselves to see what can be done to make their communities and localities better places to live and work.
2. Millennials Choose Experiences over Material Possessions
It is commonly accepted that Millennials prefer to accumulate experiences and impressions rather than personal property – this is seen as a fundamental difference between generations, with negative associations on both sides. While it is true that Millennials do seem to be moving towards acquiring experiences and minimising personal possessions, this could be attributed to a variety of reasons: one, the economic recession has made property acquisition difficult; two, Millennials approach the job market differently – the job market is now one which is more fluid, allowing and perhaps encouraging people to be less rooted to one place so that they can more easily follow work.
3. Millennials Spend Too Much Time on Social Media
Another common complaint is that Millennials spend far too much time on social media, with predictable results in people thinking that they are lazy or that they don’t appreciate life as it is happening. Of course, the increase in social media can be explained by the fact that social media of this kind did not exist until this generation. Social media is a highly important tool in today’s world, so using it and familiarising yourself with it is advisable.
4. Millennials Spend More Than They Earn
Many people have the stereotypical idea that Millennials spend much more than they earn per month. Millennial lifestyles and spending habits do not reflect their financial realities. Perhaps one reason for this is that Millennials fell for the platitude that each generation should have a higher living standard than the one before – instead, they are facing worse living standards.
5. Millennials are More Environmentally Conscious
Recycling and conservation have been around for a while, but it is only recently, perhaps due to the efforts of Millennials, that they have become normalised within society. This is possibly because we now have advanced enough science to determine what is happening to a greater degree, or because we are seeing the effects of it.
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