Millennial money myths: why giving up coffee won’t get you on the property ladder

The fact of the matter is that many people do studies that indicate that young people are spending far too much money on things like coffee and TV subscriptions. Young people do not realize how this money can work for them in other ways and as a result, they are finding it harder and harder to buy a house. When that happens, people are throwing away money on things that many deem to be rather unnecessary for many reasons.

Key Takeaways:

  • Many people think that young people spend too much money on little things that do not matter.
  • Some people are just better with their money than other people and that is just a fact.
  • The best thing that a young person can do is take advantage of the time on their hands.

“Aspiring first-time buyers are routinely advised to cut out coffee, mobile phones and alcohol, on the basis of wildly-exaggerated spending figures.”

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