Millennials – Save for traveling or save for the future?

Unlike previous generations, Millennials definitely prioritize experiences over things. The CNBC report found that “65 per cent of Millennials are currently saving money specifically for travel. 63 per cent are saving for their desired lifestyle, and just 37 per cent are saving to leave the workforce.”. This trend comes together with the key aspects that happiness and health are what matters the most and thus, experiences, rather than material things, bring greater happiness and wellbeing in the long run. With this mentality, traditional goals like buying a house or getting married become secondary and millennials are just more likely to save for short-term goals, such as taking a one-month backpack trip in SouthEast Asia.

And what is even more interesting is to take a step back and analyze the evolution of the word “successful”, that went from being associated to stability and working in the same company for 20 years, to being intrinsically related to freedom and flexibility.

It is no longer about how much money one makes but how much freedom one has. To Miles Rote, marketing director for Under30Experiences, “flexible schedules with the freedom to work from anywhere, is much more appealing to most millennials than a high paying job that has strict hours and requires 8 hours in an office every day.”.

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