This video is sponsored by monday.com. Click here to get a 28-day free trial: https://hey.monday.com/TheFinancialDiet In this episode, Chelsea discusses the differences in how millennials and boomers handle money, much of which has to do with the world and economy they've been faced with. Entitled millennial stereotype: https://www.youtube.com/watch?v=IZ72kWfZgwc Ageist stereotypes: https://hbr.org/2019/08/generational-differences-at-work-are-small-thinking-theyre-big-affects-our-behavior Lower average pay for millennials: https://www.cnbc.com/2019/11/05/millennials-earn-20-percent-less-than-boomersdespite-being-better-educated.html Federal minimum wage: https://www.epi.org/publication/raising-the-federal-minimum-wage-to-15-by-2025-would-lift-the-pay-of-32-million-workers/ Share of workers holding multiple jobs: https://www.reuters.com/article/us-usa-economy-multiple-jobs/share-of-u-s-workers-holding-multiple-jobs-is-rising-new-census-report-shows-idUSKBN2AH2PI https://www.cnbc.com/2019/09/19/survey-how-much-millennials-gen-x-make-from-side-hustles-on-average.html#:~:text=Millennials%20surveyed%20said%20they%20made,baby%20boomers%20(%245%2C892)%20reported.&text=Millennials%20were%20defined%20as%20those,boomers%20ages%2055%20to%2073 Homeownership by generation: https://www.businessinsider.com/millennials-own-less-real-estate-than-boomers-statistic-2020-1 Homes are more expensive: https://studentloanhero.com/featured/millennials-have-better-worse-than-generations-past/ Rising rental costs: https://studentloanhero.com/featured/millennials-have-better-worse-than-generations-past/ Differences in generational spending: https://smartasset.com/checking-account/how-different-generations-spend-money-2020 Millennials say no to McMansions: https://www.wsj.com/articles/a-growing-problem-in-real-estate-too-many-too-big-houses-11553181782 Banking stats: https://www.thebalance.com/where-do-millennials-bank-and-why-4428054 Rising bank fees: https://www.cbsnews.com/news/bank-fees-hit-a-record-high-this-year-2019/ Retirement: https://www.businessinsider.com/personal-finance/millennials-baby-boomers-financial-behavior-money-habits-2019-4#but-more-millennials-than-boomers-expect-to-never-retire-at-all-around-9-compared-to-4-of-boomers-and-18-of-millennials-dont-know-when-theyll-retire-compared-to-13-of-boomers-9 Millennial wealth gap: https://www.businessinsider.com/pandemic-widened-millennial-wealth-gap-economic-inequality-rich-poor-henry-2021-1 Join this channel to get access to perks: null The Financial Diet site: http://www.thefinancialdiet.com/ Facebook: https://www.facebook.com/thefinancialdiet Twitter: https://twitter.com/TFDiet Instagram: https://www.instagram.com/thefinancialdiet/?hl=en