When it comes to money, Millennials – also known as Generation Ys* – have mixed feelings. On the one hand, they have a positive attitude to personal financial planning. On the other, they may be more inclined to indulge in discretionary spending, leading to overspending and difficulties in budgeting effectively.
Adding to this dilemma is that Millennials prioritise immediate gratification over long-term financial goals, such as saving for retirement or building an emergency fund, and may be less inclined to seek advice or guidance from financial professionals.