The generation known as the Millennials are often thought of as entitled, lazy, and ignorant about many facets of everyday life. People from older generations often believe people in this age category live in their parents' basements and work part-time jobs while spending most of their times playing video games or browsing social media. While these broad characterizations are largely false, it is true that Millennials sometimes struggle with tasks that older generations take for granted. To learn what they need to know, people from this generation may find it helpful to hire a Millennial life coach.
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.
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.
One of the tasks they may have to accomplish during their coaching involves opening a retirement savings account. This could be a 401k, Roth IRA, or another tax-exempt account. They then are instructed to put ten percent of whatever they earn each pay period into that account. They are told the money will come in useful for emergencies like car repairs, medical expenses, or retirement later.
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.
Their coaches show them the basics of opening an account, finding stocks to invest in, and selling or buying new stocks as the market fluctuates. They can often achieve this without hiring a stockbroker to handle their accounts for them. There are websites set up for this purpose.
By hiring the services of a life coach, people of the Millennial generation conquer some of the biggest challenges that come with being independent. They eventually go on to live independent lives. They also shed the reputation that comes with their generation of being lazy and not ready to venture out on their own.
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.
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.
One of the tasks they may have to accomplish during their coaching involves opening a retirement savings account. This could be a 401k, Roth IRA, or another tax-exempt account. They then are instructed to put ten percent of whatever they earn each pay period into that account. They are told the money will come in useful for emergencies like car repairs, medical expenses, or retirement later.
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.
Their coaches show them the basics of opening an account, finding stocks to invest in, and selling or buying new stocks as the market fluctuates. They can often achieve this without hiring a stockbroker to handle their accounts for them. There are websites set up for this purpose.
By hiring the services of a life coach, people of the Millennial generation conquer some of the biggest challenges that come with being independent. They eventually go on to live independent lives. They also shed the reputation that comes with their generation of being lazy and not ready to venture out on their own.
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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.