The Millennials are a generation that is synonymous with incompetency and laziness. Many people from the Baby Booomer and Generation X generations believe Millennials to be so ill-equipped to handle everyday life that they envision these individuals as hiding out in their parents' basements, binging on video games and spending copious hours on social networking sites. Of course, such a broad generalization does not ring true for everyone born in that particular generation. However, it does some hold truth in that Millennials are statistically proven not to know how to navigate some aspects of adult life, which is why many are now hiring a Millennial life coach to teach them.
But what do these coaches really do and are they worth hiring for this purpose. Statistically, Millennials are lacking in money management skills, for example. Coaches have proven successful in teaching even the smartest of this generation how to handle basic money management tasks like balancing a checkbook or paying their bills on time. They learn to control their own money so they do not have to rely on their parents.
Their coaches teach them how to balance their checkbooks and set up a schedule by which to pay their monthly bills. If their rent is due on the first of each month, for example, people learn to set aside money from the last of the month with which to pay their rent. Likewise, if their utilities are due during the middle of each month, they learn to use their first paycheck each month to satisfy these expenses.
Saving money can be particular important for Millennials. They are statistically behind Generation X when it comes to putting up savings for retirement or emergency purposes. Moreover, the concept of saving 10 percent of what they earn is entirely foreign to many of them. Coaches instruct them on the finer points of saving cash.
They learn to take 10 percent of whatever they earn each pay period and put it in a savings account, 401k, or Roth IRA account. They are often advised to forget they have this money in savings to avoid spending it on frivolous items. They will have the cash to use later in case their car breaks down, they suffer a medical emergency, or for retirement decades down the road.
Investing is another big challenge many of them are led to tackle on their own. Coaches may advise them on the importance of having investments at their disposal. Millennials many times avoid the stock market because it looks and sounds intimidating or they believe you need to hire a stock broker to do it for you.
In fact, websites exist where you can open your own account for mere dollars down. Once these accounts are open, you have the leeway to trade and buy stocks at your leisure. You also get access to commodities, bonds, and CDs once you accrue enough money.
A life coach can help Millennials learn the basics of navigating adult life. They teach people basic lessons like saving money, paying rent, and investing. These lessons help people become independent and no longer afraid of venturing out on their own into the adult world.
But what do these coaches really do and are they worth hiring for this purpose. Statistically, Millennials are lacking in money management skills, for example. Coaches have proven successful in teaching even the smartest of this generation how to handle basic money management tasks like balancing a checkbook or paying their bills on time. They learn to control their own money so they do not have to rely on their parents.
Their coaches teach them how to balance their checkbooks and set up a schedule by which to pay their monthly bills. If their rent is due on the first of each month, for example, people learn to set aside money from the last of the month with which to pay their rent. Likewise, if their utilities are due during the middle of each month, they learn to use their first paycheck each month to satisfy these expenses.
Saving money can be particular important for Millennials. They are statistically behind Generation X when it comes to putting up savings for retirement or emergency purposes. Moreover, the concept of saving 10 percent of what they earn is entirely foreign to many of them. Coaches instruct them on the finer points of saving cash.
They learn to take 10 percent of whatever they earn each pay period and put it in a savings account, 401k, or Roth IRA account. They are often advised to forget they have this money in savings to avoid spending it on frivolous items. They will have the cash to use later in case their car breaks down, they suffer a medical emergency, or for retirement decades down the road.
Investing is another big challenge many of them are led to tackle on their own. Coaches may advise them on the importance of having investments at their disposal. Millennials many times avoid the stock market because it looks and sounds intimidating or they believe you need to hire a stock broker to do it for you.
In fact, websites exist where you can open your own account for mere dollars down. Once these accounts are open, you have the leeway to trade and buy stocks at your leisure. You also get access to commodities, bonds, and CDs once you accrue enough money.
A life coach can help Millennials learn the basics of navigating adult life. They teach people basic lessons like saving money, paying rent, and investing. These lessons help people become independent and no longer afraid of venturing out on their own into the adult world.
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Get a summary of the things to consider when picking a life coach and more information about a knowledgeable millennial life coach at http://www.guidinglifecoaching.com/about now.
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