Millennial Habits That Are Totally Different From The Baby Boomer Generation
Millennials have been accused of killing everything from napkins to "breastaurants". Commonly described as narcissistic and entitled, this generation has become an easy target for frustrated baby boomers who are trying to cope with the changing times. Millennials are not like their parents, just like baby boomers were not like the generation who came before them... and that's okay.
While accusing the generation of ruining things may seem like innocent fun, there is actually a lot that can be said for the habits and trends they have adopted. I mean, they're actually talking about their personal finance and only buying houses they can actually afford! WHAT?! Millennials keep on proving that its okay to do things differently than their parents.
They Eat Differently
They eat out more, but not at the usual restaurants. Millennials prefer "fast casual restaurants" like Chipotle, Panera Bread, or Five Guys purely for the convenience factor. Despite eating out more, they tend to generally eat healthier. According to Forbes, they are eating 52% more vegetables than baby boomers.
Combine convenience with healthy habits and you have a growing trend of straight-to-your-door food product companies like Blue Apron. These deliver fresh ingredients to your door, saving millennials the hassle of shopping while still giving them an easy and healthy meal to prepare.
They Are Entrepreneurs
Millennials are no longer buying into the idea of climbing corporate ladders. Instead, they want to create and cultivate their own business. In a study by Bentley University, 67% of respondents said they want to be an entrepreneur, while only 13% said they wanted a traditional career path.
This trend is said to stem from the distrust of big business. Many millennials have seen their friends and family become overlooked or fired in corporate positions, and they see owning their own business as a way to be in control of their career paths.
They Don't Buy Cars
While some believe failing car sales are due to an environmentally friendly generation, the reality is that fewer millennials need cars, and even fewer can actually afford them. Many millennials either work in big cities with ample public transportation or they are increasingly working from home or remote offices. Couple this with a generation with high student debt, and it's easy to see how many can't afford an expense that includes a monthly payment, insurance, gas, maintenance, and repairs.
This change certainly isn't a bad thing! Fewer cars mean less road congestion. Cities have noticed the change as well, and many have made accommodations to their public transit or provided new programs such as bike shares.
They Don't Follow The 9-5 Workday
A generation with different priorities means one with a different workday. The 9-5 workday arose after WW2 and was based on a single-breadwinner family structure. With shifting industry, gender roles, and career possibilities, millennials have strayed away from the 9-5.
Freelancing and self-employment are increasing, and with that, workplace flexibility rather than workplace routine has taken priority over pay. Millennials are also looking to make more of an impact, and many do not view the traditional 9-5 cubicle job as fulfilling that desire. Adding to all of that, a globally connected world means you can work anywhere, anytime, and still pay your bills.
They Aren't Getting Married, Or Divorced, As Much
Rather than dating, getting married, moving in together, and having kids, millennials are messing all that up. This is what many have viewed as a routine-reversal. Millennials are moving in with their partners before deciding to get engaged, and when they do get married they are doing it later in life. As a result, divorce rates are decreasing too.
Divorce rates are decreasing as many millennials choose to never marry at all and instead opt for common-law partnerships. Economics can be a part of this choice. WIth more debt, many millennials don't see a reason to drop cash on expensive wedding rings and lavish ceremonies.
They're Abandoning Big Box Stores
It doesn't take an economist to understand that millennials stray away from big box stores because they are less convenient, and cost more, than online retailers. With an increase in not only online availability of products, but also same-day-delivery, millennials would rather order that nightstand from Amazon then drive to multiple retailers to find one instead.
Adding to that, new technologies such as Google Home and Amazon Echo have made it possible to order home staples such as toilet paper and toothbrushes straight to your door.
They're Bringing Back The Library
While many believe that millennials killed the library, they are actually the ones bringing it back too. Digital technology has made it so that almost any information, books included, are available at our fingertips. Millennials have dealt with this massive shift in information absorption by repurposing libraries to function closer to a community center.
Along with books, many new libraries now have workbenches, free WiFi, 3D printers, and tech classrooms, all of which are intended to provide a place for all ages to gather and increase their skills, whether it be by book or through a new form of technology.
They Are Over Traditional Breakfast Foods
In 2016, the New York Times suggested millennials don't eat cereal because they are too lazy to clean up. In reality, millennials still love cereal but as a snack. Traditional sit-down breakfasts like cereal, eggs, or bacon take too much time in the morning. Instead, millennials are opting for quick breakfasts like smoothies, toast, and breakfast bars.
Millennials also aren't buying into the morning sugar craze. Many have claimed they desire actual energy rather than the synthetic sugar rush that most cereals provide. Looks like this generation didn't inherit their parent's sweet tooth.
They Discuss Their Personal Finances
Discussing your salary used to one of the biggest taboos at work, but increased awareness of wage gaps have changed this. In fact, discussing salaries has increasingly forced workplaces to become more transparent. Surveys have found 30% of millennials feel comfortable discussing their salary and pay discrepancies, while only 8% of baby boomers held the same views.
Some believe this is a shifting attitude toward personal finances in general. Millennials discuss finances more with friends and family, alongside their coworkers. New beliefs are that salaries should be less competitive, and more collaborative.
They Cheat On Eachother Less
Millennials have been criticized for their non-traditional views on dating, with an emphasis on fewer relationships and more casual relationships, but this has resulted in less cheating than their parents. Millennials are less likely to cheat because a hookup or quick fling is easy to achieve now with apps like Tinder. They also wait longer to marry, so they spend more time before marriage exploring other relationships.
Baby boomers were more likely to cheat as they found themselves caught between the sexual oppression of their parents, and sexual liberation as seen during the Summer of Love. Baby boomers average 11 sexual partners in their lifetime, while millennials average only 8. Maybe millennials are just pickier?
They're Bringing Back Small Crafts
With distrust of corporations and big box stores comes the reemergence of small business and craft. Craft brewing is representative of a larger trend, as millennials are willing to pay more for unique, high-quality products rather than pay less for generic products. Studies have shown that millennials want to connect with the back-story of the beer and support local brews.
This is seen in a variety of other industries. The success of online sellers such as Etsy has provided millennials with a convenient supply of unique items.
They're Not As Interested In Getting Drunk
Millennials may love craft beer, but apparently, they don't love the idea of getting drunk as much as their parents do. In a survey of millennials, 90% said that getting drunk, particularly in public, is both "messy" and "pathetic". Many of them believe the practice to be uncool and something that the baby boomers used as a coping mechanism. Social scientists have argued that millennials are more open with their issues and do not use traditional coping mechanisms, such as drinking.
This means that millennials are also consuming less alcohol as a whole. While baby boomers still consistently indulge, millennials on average consumer only 5 units of alcohol per week, which equals out to either 2 glasses of wine or 2 pints of beer a week.
They Don't Buy A House If They Can't Afford It
The financial crash and house market burst in 2008 has made anyone today wary of buying a home, but studies have shown that millennials have always been skeptical of this major purchase. The delay in homeownership is said to be a combination of higher debt and a change in lifestyle. Millennials are not getting married or having kids as early, so they don't see a need for a home as early in life either.
Not only are they delaying their home purchase, they're opting to rent longer to find a permanent house. Gone are the days of the "starter home." Millennials would rather wait to find a home they want to be in for a long time rather than purchase multiple homes in their life.
They Travel Differently
Not only are they different at home, they're different abroad. Rather than travel for escape and leisure, millennials are increasingly traveling for adventure and nightlife. They are more likely to travel to "hot spots" as advertised through celebrities than to the traditional 5-star resort.
Millennials also tend to travel with a purpose. More report traveling to participate in volunteering or gain awareness of social issues. This also means many are not staying in traditional accommodations such as hotels, but instead are trying to experience the local culture.
They're Job Hopping, And That's OK
The term "job hopping" has grown recently, but many prefer to consider it "jumping at the opportunity." It's true that millennials take on more jobs rather than staying in one place longer, but studies have shown that millennials would stay with their employer if they provided more opportunity and better pay.
The result is a generation with a higher education level that are stuck in jobs they are overqualified for. This means a discrepancy between what Millennials can do and what they are doing. Millennials have taken flack for it, but job hopping is really just a term for taking on new, and better, opportunities.
They Are Learning More Online
Millennials are opting out of in-person education and toward self-taught and online education courses. Many don't see a four-year degree as the most viable way to receive an education anymore. Studies have also shown that factors Millennials look for in an education such as collaboration, feedback, and technology are all more readily available on the internet than in a traditional classroom setting.
Combine this with a desire for fast, affordable, and flexible education to match their lifestyles, it's no surprise that online education has grown as a way to receive both an initial education and expand your education while working.
They Are Picky With Their Religion
Many relgious instituions have noted they are losing millennials and are trying to change that. One of the biggest critiques is that many religions don't engage in serious social reflection. Millennials want to make a difference in the world and many no longer see religion as providing that.
Competition between denominations within a religion has also been seen as a turn off to millennials, prompting those who do still maintain religious practices to do so in either non-denominational churches or on their own. Travel and increasing global connections have also allowed millennials to explore different religions they may not have been exposed to.
They Are Using Social Media As Diplomacy
Millennials are taking over social media accounts for anything from companies to countries, and they're having fun while doing it. Many are using crowdsourcing and social media to gain a better understanding of how the public views their corporation.
Humor is also seen to be a major success factor in social media diplomacy. All you need to do is take a look at the Twitter account of some major corporations like Wendy's or Taco Bell to see that. Recently, Ukraine's Twitter account was in the news for the millennial who used memes and Simpsons' GIFs to poke fun at Russia.
They Are Developing New Social Systems
Most of us have heard of cryptocurrency and most of us still don't understand it, but millennials are the ones taking the plunge and exploring this new form of currency. Millennials were the first to grow up in a digital age and so it makes sense why they are open to using technology to make big societal changes.
Baby boomers shouldn't be scared. Bitcoin and cryptocurrency, along with the growing legalization of marijuana, have brought millennials to the stock market for the first major wave since 2008.
They Are Skeptical Of Financial Institutions
Despite being more open with their finances, millennials are the most skeptical of financial institutions. They were born in the 1980's, a volatile time for banking in America, and have had to live through multiple bubbles and crashes. Banks also have traditionally low-acceptance rates for clients such as millennials, who hold minimal credit history and a lot of debt.
Aside from these major causes, millennials don't believe the financial institutions have their best interests in mind. Many reach out to third parties or the internet for financial advice, and many prefer to bank online rather than go into a bank.