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Why genY?

Generation Y, also known as Millennials, includes individuals born between 1980 and 1997. This diverse and tech-savvy cohort is characterized by their unique attitudes and expectations shaped by cultural influences, such as the internet and social media. Millennials are often viewed as optimistic yet skeptical, confident yet questioning. They significantly impact consumer spending and prioritize visual and engaging content. To effectively reach Gen Y, understanding their relationship with money, goals, and financial habits is crucial. Strategies for financial literacy and responsible spending are essential for their success.

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Why genY?

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  1. Why genY?

  2. The Silent Generation Born 1925-1945 / Ages 66-86 Baby Boomers Born 1946-1964 / Ages 47-65 Gen X Born 1965-1979 / Ages 32-46 Gen Y (Millennials) Born 1980-1997 / Ages 14-31 Generations defined

  3. Generational Markers

  4. How would you describe them? their attitude? their expectations? Who is genY?

  5. We’re not stupid; just inexperienced Tech savvy Independently dependent Parents often cited as best friends! Entitlement - Boomer parents over-protective Overwhelmed with information Optimistic Confident Who is genY, really?

  6. Diverse Tolerant Skeptical / Cynical And not afraid to ask questions Adaptable Not afraid of change Instant Gratification Who is genY, really?

  7. Major influences: friends celebrities Entertainment: Xbox, Multi-Plex theaters, DVD/blu-ray, On-Demand, CD, Social-Media Information Sources: any style any time any format Who is genY, really?

  8. How genY gets money Spending money - Very influential in house hold spending - Allocating money for savings - Image conscious - Active consumer Not against hard work GenY’s spending style

  9. Money • Spending power • I want it now • Debt • Image • On-line

  10. BE REAL!!! Viral marketing Technology Online Social media Text How to reach genY

  11. Free stuff Visually appealing We’re not stupid; just inexperienced Understand Mentor Buck the norm How to reach genY

  12. Be aware of spending Become and remain organized Prepare for upcoming expenses Use Money Wisely

  13. Three basic goal types: Short-term – 1 year or less Mid-term – 1-3 years Long-term – 3+ years Priorities Know the goal cost and achievement date Price / # of paychecks = amount per paycheck BE PREPARED FOR SETBACKS! Set Goals

  14. Avoid impulse purchases Don’t gamble your money away Keep an Eye on Cash

  15. Establish Credit • Building a history and score • When shopping for credit, look for: • Low APR • Long grace period • No annual fee • Low penalty fees

  16. Stay out of debt Pay more than the minimum payment Pay on time Limit the number of cards you have Use Credit to Your Advantage

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