Being a student of social anthropology, I always find generational studies particularly interesting because they ask wide array of behavioral, economic, and big picture questions that have a fairly good chance of impacting the future path of a country.
This demographic profile, from the Pew Center on the American Millennial generation (aka Gen Y), is one of the most eye opening that I’ve seen in a while.
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Of course, if you’re a Gen Y member or you interact with them on a regular basis, none of this is really news to you. But from a business or political standpoint, much of this data will be highly influential in the way marketers attempt to sell you their products/services or the way political candidates try to persuade you for your vote come election day.
To dig a little deeper, I would have been curious to know what percentage of Millennials earn their income from a single source, or had multiple income streams. From the interactions that I’ve had with my < 30 aged friends, it seems that a minimum of 1 in 4 has a blog, has a second job, or doing something outside of their normal 9 to 5 job as a side income hustle.
If anything pops out about the study that you find interesting, be sure to leave a comment below.
Articles from the last week that stimulated more than two neurons…
Fiscal Fizzle - There’s No Such Thing as Passive Income.
Interesting article that generated lots of discussion, but I’m not so sure that I agree with the conclusions. I’m of the philosophy that no income source is 100% passive, but just because a business idea or investment isn’t a “fire and forget” missile, doesn’t mean you should ignore the income generating potential.
Minneapolis Star Tribune - Real frugality means carefully using your limited resources.
Excellent example of the “new frugality”…
Being frugal doesn’t mean being stingy, miserly or downright cheap. The true spirit of frugality is to be mindful of how you use your limited resources. To be prudent with your money. To buy the best of what you need but no more. To avoid waste.
Slate - A parable about how one nation came to financial ruin.
If you’re a Berkshire Hathaway shareholder, and you aren’t familiar with the name Charles Munger yet, you might want to give this a read and gain a few insights into how your Executive VP’s mind works when it comes to investing. Basically, he’s just like Buffett with a more outspoken tone and without the witty sound bites.
Marketplace Public Radio – Banks: Like fragile little girls.
Leave it to Bill Maher to come up with the most humorous way to say what we’re all angry about.
LifeHacker – The Best Times to Buy Anything, All Year Round
If you’re a bargain hunter, you’ll love this detailed chart of the best time to buy those higher end items you’re always trying to say money on.
I participated in a few carnivals over the last two weeks:
Money Hackers Carnival at Live Real Now.
Carnival of Personal Finance at Budgets Are Sexy.
Carnival of Debt Reduction at Ask Mr. Credit Card.