Millennials birth year generally ranges between 1980-2000 (ages of 16 and 36).  According to USA Today, in 2014 that Millennials were “entering the workplace in the face of demographic change and an increasingly multi-generational workplace”.  Even though research has shown that Millennials are joining the workforce during a tough economic time they still have remained optimistic, as shown when about nine out of ten Millennials surveyed by the Pew Research Center said that they currently have enough money or that they will eventually reach their long-term financial goals.

Millennials are faced with an egregious amount of student loan debt and at times unable to acquire employment in their field of study; therefore, taking employment with lower paying jobs.  Millennials have learned from acquiring student loan debt that increasing in debt is not the way to go.  These are some of the ways that some millennials are decreasing their spending, post college:

1)      Some millennials are spending less and saving more – In speaking with a group of millennials, they seem to be more conscious of how debt can become the controlling factor of their lives where mismanagement of their finances are concerned.  This particular group seemed to have steered away from accumulating more debt, but was very responsible with saving, setting financial goals and seeking ways to start investing.

2)      Moving back home with their parents – While some millennials are gainfully employed, others find that it is difficult to move out on their own until their financial situation change.  For some families this move could be helpful for the household and the millennial college graduate.  Others that have lower paying jobs and live at home contribute to the household finances and are saving before taking the plunge to get their own place.

3)      Avoiding credit card debt – Student loan debt has deterred some millennials from accumulating credit card debt.  If it is at all possible avoid using credit cards, unless you are discipline enough to pay the balance in full monthly.

4)      Asking for help when needed – Do not be afraid to ask for help with understanding your finances.  If you cannot afford a financial adviser; millennials are becoming acclimated to searching online resources.

5)      Using more apps for money management and investment needs – Millennials are tech savvy and have shifted towards using more apps.  Although I do not endorse any apps, is a very useful source that could help make your money management needs easier to analyze. is another source that will help you to keep your finger on the pulse of your finances.

While these financial tips are from millennials, they could be very helpful for the older generations.  Your comments are encouraged and welcome!  E-mail me at