There was a time when been successful was measured the traditional way.

In those days, as you set your goals for the future, you dream of buying a property or owning a beautiful apartment with a Car packed in the garage because these are the things considered to give stability in life. Interestingly, today’s young adults live in an entirely different world.

What Has Changed?

These days, the above line of thought are changing, majority of today’s younger generation don’t want to be tied down by these things

Today’s Mindset is, You can either take on a mortgage for 40 years, or you can accept the fact that you will spend your whole life in a rented place.

Today’s generation of young people prefer to rent and rarely think about buying a house or lavishing on expensive cars.

Well it’s not that this generation don’t want to own a home, in fact 9 out of 10 young people wants to buy a property but research in United kingdom shows that, as price of owning a property continues to go over the roof, young people are less inclined to buy one.

Some say the economic downturn is to blame, many are faced with financial crises and are afraid of ‘serious’ loans.

The deposit requirement is unattainable for most youngsters who are trying to climb the property ladder, as a result, it makes more sense for this generation to rent since it is affordable and cheaper.

Most young people below the age of 35 are described as a generation of renters, comparing this to the 60’s, 70’s and 80’s when people were more likely to start life buying a property and raising a family.

What about Cars?

The thinking of the younger generation is all about investment. Why buy a car that will depreciate?

With the exception of car collector for future value, this generation isn’t spending their cash on super-cars, worrying at every sound alarm because it could get stolen or even breakdown.

Today’s generation wants to live free of worry

Generation of today’s young adults is satisfied with taking a cab. Many cab services or rentals that are tapping into this gap in the economy.

For example, the ZipCar – No monthly car repayment, car insurance bill, or worry about the cost of fuel again. that is the way this generation thinks

Or the Uber service ( 5 – 10 minute max), your transport has arrived, ready to take you to your desired destination.

Property Ownership No longer Relevant

According to James Hamblin, The Atlantic’s columnist explains the phenomenon as follows: “Over the past decade, psychologists carried out a great amount of research proving that, in terms of happiness and a sense of well-being, spending money on new experiences is much more profitable than buying new things. It brings more joy.”

Welcome to the millennial, a generation of young adult interested in investments, and the experience of travel. This is what gives today’s young adult happiness. Today’s generation wants to invest and see their capital rise, not tie it down on super-cars.

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