Boomer generation, generation X, millennials, generation Z. What’s the commonality?
Finances always are a first priority. I am a millennial, however I would like to think I am a part of the better half that is somewhat financially responsible. More than half of millennials do not think that far ahead apparently. There are articles that say, millennials need to save nearly half their paycheck to retire at 65 years of age. 40% needs to be saved for the next 30 years if you want to live off your final salary in retirement. According to Megan Leonhardt, millennials should aim to set aside nearly half of their income for the future. Only one in five, save more than 15% per month for their 401k. 15. Percent.
As a Millennial growing up, no budget or financial well being classes were offered to myself until I was an adult. Am I the only one who think that should change? What is the financial topic that our parents strive to teach us? Wasn’t it be careful about spending your money. Don’t be gluttonous, don’t spend the money on stupid things like eating out, don’t spend money on items that don’t benefit you later. Well as my late grandfather said, “It’s not about the money you make, it’s the money you save.” To this day, my grandfather is right. For my 401k, I save about 28% of my paychecks each month. That does not include my personal savings or any emergency funds.
Adulting is not an easy task for anyone though millennials do have an upper hand. The traditionalists, boomer generation, and even some of generation x did not have the opportunities or technology we have. Of course, being in my parents’ house, it was hard to recognize. The household I grew up in was parents provided for their children. You did not know about the financial status of your household until you got notices in the mail or on your door. Safe to say times have changed huh?
Finally, the bird has flown the nest to live in Florida. In my own apartment. Grocery shopping for myself. Buying everything for myself. My parents send me love gifts but not depending on the parents to survive anymore. Once I left my house in California, the time had come for me to be able to pay for rent and utilities, living essentials, provide for my fiancé and my dog, and all types of insurances. What has been the saving grace? Full-time career, 401k, great medical and travel benefits, budgeting notebooks, and finally my favorite, cash back applications on my phone.
Not only in the cooking adventures, but in general, the goal is to save and get in return pennies, if not dollars back on items that I purchase. The applications used in the grocery shopping for the blogs will be Ibotta, Fetch Rewards, ShopKick, and Coinout.
Ibotta will claim offers from grocery stores such as Walmart, Kroger, Publix, Whole Foods, Safeway, Aldi, Costco, Sam’s Clubs, convenient stores such as CVS, Walgreens, K-Mart, Circle K, 7-Eleven, and gas stations such as RaceTrac, Wawa, Shell, and travel stops such as Love’s. You can cash out to gift cards or Paypal.
Fetch Rewards receipts are accepted from any grocery, convenience, and club stores.
You can cash out to gift cards. ShopKick is more particular regarding items. Though you get “Kicks” when walking into certain stores. You also receive kicks by scanning certain items, using linked cards, or scanning in receipts with those selected items. You can cash out to gift cards.
Finally coin out, is a cash redemption application that when you scan receipts you receive a penny to 20 cents on each receipt. Cash out is $10.00 minimum and that is to PayPal. Cooking certain recipes could be costly. Being a millennial and saving for assets, you will receive examples of how I cook my way through but not go broke. Retiring by 65 if not sooner, and buying a house by 28. Oh and raising a family. Goals though right?