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Millennials have felt that pinch all too much.
So how have theyshielded their finances from inflation, in the midst of all that?
Whether or not that was true, theyve grown up quite a bit since then.
Millennials have become more intentional about their budgets, said Jordan Mangaliman, owner ofGoldline Financial Services.
Theyve learned how to cut discretionary expenses when necessary.
Indeed, millennials make up the largest portion of homebuyers in the market, according toNational Association of Realtors.
Sure, taxes and insurance will still go up, said Kevin Leibowitz ofGrayton Mortgage.
But the largest portion of your housing costs stay locked despite inflation, if you borrow a fixed-rate mortgage.
Many millennials have turned to real estate investments that pay them cash flow, said Mangaliman.
Sometimes that means buying rental properties directly.
In particular, they like index funds and dividend stocks for long-term planning.
Sure enough, millennials have outpaced other generations in buying up index funds.
We have seen the biggest rise in side hustles among millennials, said Barcelo.
Theyre less about grinding 24/7 and more about finding fun ways to make extra money without burning out.
That helps when prices rise faster than your W-2 paycheck.
Ultimately, millennials have simply found ways to make it all work.
They combine these strategies to stay afloat, even when the floodwaters of inflation and economic uncertainty rise.
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