Do you spend big bucks and not lie? Studies show that millennials are known to be incredibly big spenders. This young generation spends more than they can save. But what do studies say about young women specifically? Despite this financial stereotype with millennials, the landscape for millennial women, specifically, seems to be changing for the better.
The question is: with this changing landscape, do young women have more financial freedom to achieve their most sought-after goals such as living independently? Girls, are you ready to live on your own?
For the ‘Gram
Ah, the Instagram influencer lifestyle of freedom and pretty things—it’s the millennials’ “kryptonite.” With the millennials’ keen interest in Internet glamour and the Instagram-worthy life, it’s not surprising that data show a less financially responsible generation.
A lot of millennials are digital natives. As consumers of this digital lifestyle, the young generation is more likely to be drawn to online trends and be part of the cool kids. Most millennials, not just young women, are drawn to the Instagram-worthy life whether it be minimalist, dreamy, or whatever theme it may be; the younger generation tends to attach importance to “aesthetics.” Now, if you’re planning on living on your own, you will have to find a way to balance out expenditures without sacrificing your style.
Happy Wallet, Happy Home
By now, we all know how important it is for millennials to live “with aesthetics.” But when you are young and still in the process of learning how to do your daily accounting properly, are there thrifty aesthetic options out there?
There are different options available for you. One thing you could do is to opt for garage sales and thrift shops for home furniture, decor, and other things you would need to spice up your place. If you have a bit more money to spare, you can also find an interior decorator you can consult to help you out with your design vision while meeting your budget requirement.
With the generation’s current financial situation, it’s no surprise that these wallet-friendly options are available. Just because you opt for the safe side of spending doesn’t mean that you have to sacrifice your style that provides your daily dose of happiness.
The Power of Baby Steps
Let’s say you are eager to leave home but you don’t have quite enough funds yet. No need to feel down. Grab a friend as your roommate. Don’t underestimate the power of baby steps. Living away from home doesn’t mean that you have to live alone right away. You (and your friend) can choose to take baby steps as you live together for, let’s say, a few months to a year. This would be a big help for both of you in learning practical home economics before taking the big leap of living full-on independently.
The Big R
You have got your place set up, you may have arrangements with your roommate, but you may still be forgetting another thing to consider: responsibilities. Living independently is not just about the money; it’s about maintaining a clean, safe, and healthy space for your mind and body. Isn’t that what living is all about anyway?
Mental health is an important topic, especially for young adults nowadays. With all the daily stressors at work, relationships, and life in general, one other thing you have to consider when living alone is whether you can take care of yourself without your support system, i.e. your family.
As you live independently, your daily responsibilities now include maintaining a healthy lifestyle and not just ordering take out because it’s more convenient. It involves regular cleaning and maintenance of your physical space to aid in uncluttering your mind as you go about your daily life.
Living alone also entails being alert and sharp enough to make grown-up decisions as you encounter them in real-time. There will be multiple instances wherein you can’t consult your parents before making a decision.
As studies show, young women are now more financially independent than before. Living independently of one’s family is a milestone in anyone’s life, but there are different factors to consider before making that big leap. You may already be financially independent, but are you ready to take on big girl responsibilities? Can you live alone while providing yourself the good life you deserve? Take a step back and observe. After all, we are not here to win a race in life. We are here to simply live.