This is my third and last post in a series about Millennials and money following El País’ event No Money this April, reflecting some of the topics that were raised. Blockchain is the database system underpinning the cryptocurrency Bitcoin, but has started to draw attention on...
Last week I spoke at a conference in Madrid called “No Money”. It was hosted by Spain’s leading newspaper El Pais and was literally about the transition to a cashless society. Foregoing cash in the near future is no far-fetched idea since entire countries are...
Image courtesy of Stuart Miles at Free Digital Photos[/caption]
According to psychologists who measure things like high rates of materialism, narcissism, the millennials have grown into adulthood with some serious personality problems which the baby boomers lacked. The entire nation is worrying about the present financial condition and the steps that the generations need to take in order to keep debts at bay. The analysts see a clash between the baby boomers and the young generation in accordance with the way they handle their finances and this is what is leading to a huge gap between the two aforementioned generations. While the current seniors are still in the process of learning how to handle their finances, the young generation is already suffering due to the wrong steps taken by them. The younger generation seems to be stressed over debt, thereby making savings a distant dream. The concerns of this article will deal with the different financial problems faced by the seniors and the young and the message that the seniors would love to pass on the young adults to save the economy from crushing.
