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.
In reality, these so-called coaches specialize in teaching people in their 20s and 30s multitudes of tasks associated with living independently. For starters, they teach the finer points of handling money. Studies have shown that Millennials struggle with everything from managing a checkbook to paying bills on time. Their coaches provide them with the foundation of solid money management so they can become independent adults.
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.
Another critical tip provided by coaches involves saving for retirement. For people in their 20s and 30s, retirement may seem like a far away goal. They might believe they have ample time to put back money for this purpose. Coaches teach them that saving now is better than saving later. They also learn about the importance of savings accounts.
In fact, some coaches have their students open IRAs, 401k accounts, or savings accounts at their bank. Once these accounts are open, students then take 10 percent of their earnings each pay period and put it into them. They learn in a short period of time that the funds will come in useful during emergencies and for later use such as when they retire and are no longer able to work.
Millennials are also statistically behind other generations when it comes to investing. Many of them are not aware of the finer points of investing. They are too afraid to venture into the stock market simply because they do not know what it takes to open an investment account.
Coaches instruct them on how to find websites that allow people to launch their own investment accounts with relatively small amounts of funds down. They also are advised on trading and selling stocks, buying commodities, and investing in bonds and certificates of deposit. In a short amount of time, they could have investments as part of their assets.
Navigating adult society is sometimes trickier than it looks for people of the Millennial generation. They grew up without many important life lessons at their disposal. They are just learning about them now by hiring a life coach who guides them through basic lessons in adulthood.
In reality, these so-called coaches specialize in teaching people in their 20s and 30s multitudes of tasks associated with living independently. For starters, they teach the finer points of handling money. Studies have shown that Millennials struggle with everything from managing a checkbook to paying bills on time. Their coaches provide them with the foundation of solid money management so they can become independent adults.
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.
Another critical tip provided by coaches involves saving for retirement. For people in their 20s and 30s, retirement may seem like a far away goal. They might believe they have ample time to put back money for this purpose. Coaches teach them that saving now is better than saving later. They also learn about the importance of savings accounts.
In fact, some coaches have their students open IRAs, 401k accounts, or savings accounts at their bank. Once these accounts are open, students then take 10 percent of their earnings each pay period and put it into them. They learn in a short period of time that the funds will come in useful during emergencies and for later use such as when they retire and are no longer able to work.
Millennials are also statistically behind other generations when it comes to investing. Many of them are not aware of the finer points of investing. They are too afraid to venture into the stock market simply because they do not know what it takes to open an investment account.
Coaches instruct them on how to find websites that allow people to launch their own investment accounts with relatively small amounts of funds down. They also are advised on trading and selling stocks, buying commodities, and investing in bonds and certificates of deposit. In a short amount of time, they could have investments as part of their assets.
Navigating adult society is sometimes trickier than it looks for people of the Millennial generation. They grew up without many important life lessons at their disposal. They are just learning about them now by hiring a life coach who guides them through basic lessons in adulthood.
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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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