One thing I’ve noticed among professional Millenials in my office is that they’re loading up their credit cards to “earn points” on other things. It’s the old “I have to spend money to make money” mentality, and it’s getting worse.
I had one co-worker spend $2500 on an Apple laptop which he didn’t need (he has a corporate-issued Mac Book) so that he could get points to fly to Vegas “for free.” I was dumbfounded by the logic, but this is how they think.
Not surprising.
They are “owed” fancy dinners, trips to Vegas, 3 lattes a day... I always try to get younger employees into the 401k plan.
Wow. That's... I want to laugh and cry at the same time!
Points are nice, you can get free stuff after a while, randomly!
But buying a 2.5 grand laptop just to get a trip with the points (that’s actually a good point return) is stupid. You get points from stuff you buy anyway, like food or gas, rent/mortgage/car payment if they accept card. Getting that 1% back is better than nothing back. But buying stuff just for the points is stupid.
Millenials also don’t buy cars or houses.
Mostly because they’re broke and/or under/unemployed.
They ride the public transit and rent. Which is fine if you want the nomadic ,no child lifestyle.