Five Finance Experts Share Their Advice For Millennials

Among the many concerns/stresses/worries and of course, mass amounts of overthinking that goes on in the brain of a millennial, money is pretty high on the agenda of stress inducing issues.
How to manage it, where to find it, how to save it.
Student debt, first time buyers schemes, invasive and inconvenient wanderlust thoughts, high expectations of the kind of lifestyle we should be living.
How little petrol can we get away with putting into the tank while waiting for pay day? Will we be living on cornflakes until pay day again? Will taxes ever make sense?
Welcome to the brain of a millennial confused about money.
And yes, it can be confusing, overwhelming and highly stressful handling financial matters in your life, but it doesn’t have to be that way. Here’s the advice financial experts are dishing out to millennials.
Mind the gap.
“Mind the gap. If I can distill personal finance advice into three words: mind the gap. Focus on ramping up your income while keeping your expenses the same or less. That gap will naturally grow wider and wider.”
Paula Pant, Afford Anything
Go for big wins.
“Instead of stressing over a few expensive lattes, consider how you can slash your biggest expenses, like cutting your housing cost in half by getting a roommate. Or saving thousands of dollars on your loans by refinancing your debt at a lower rate. These kind of big win strategies will free up far more room in your budget.”
Stefanie O’Connell, Millennial Money Expert and Blogger via The Everygirl
It’s the little things.
“Save every £5 note and put it in an envelope. After a year you’ll be surprised by how much you’ve saved.”
Paris Chevalier, Chief Marketing Officer at Xceed Financial Credit Union
Rainy Day Funds.
“Always save for a rainy day, because nothing lasts forever and nothing stays the same. Saving for a rainy day makes any transition much easier to deal with. You cannot control what happens to you, but you can control how you handle it.”
Harrine Freeman, financial expert
Know why you’re saving.
“You can Google how to budget and do all this stuff but the piece a lot of people miss is that you, personally, have to understand what you’re saving towards. It’s very easy to see big pockets of money and think, it doesn’t matter if I pull from it.”
Jamila Souffrant, certified financial education instructor via Refinery29