I hear millennials talk about money problems all the time, and now is the time to take responsibility, stop complaining, and start budgeting accordingly.
How much are you spending on Starbucks every day? You bought a share for $50? Imagine spending a fraction of that by just making your own stocks at home. It’s the same thing, maybe it doesn’t come in a fancy happy holidays cup, but why are you really buying Starbucks shares? To fit in, be cool? Or to get the stock? Let’s be smarter about how we spend.
And it doesn’t stop there. How much money gets wasted on restaurants? Darden Restaurants is over $100, and doesn’t seem to be going anywhere. Why would you burn that much cash when you can stay in most nights and get the same basic end result? Come on people, let’s be fiscally responsible!
I guess really my point is rather than complain you have no money and blame others for your problems, it’s time the youth take control of their finances. You have the power to fix your situation if you just stop investing in overpriced consumer product stocks.
Start saving your money. Put that money into an IRA and let it grow. In 50 years you won’t remember the momentary bliss of overpriced, high energy, sugary stock, but you will be glad you dumped that savings into an index fund long term.
I know this might come off as condescending, but only YOU can take control of your portfolio and start seeing real growth. Take it from me, someone with a 7-figure trust fund.