{"id":313012,"date":"2025-10-18T09:08:20","date_gmt":"2025-10-18T09:08:20","guid":{"rendered":"https:\/\/www.europesays.com\/us\/313012\/"},"modified":"2025-10-18T09:08:20","modified_gmt":"2025-10-18T09:08:20","slug":"7-money-habits-baby-boomers-have-that-millennials-should-copy","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/313012\/","title":{"rendered":"7 Money Habits Baby Boomers Have That Millennials Should Copy"},"content":{"rendered":"\n

Boomers and millennials have followed very different financial paths<\/a> as a result of the decades when they came of age, entered the workforce and more. Boomers built wealth with steady jobs, cheaper housing and decades in the market, then protected it with habits like paying themselves first and avoiding high-interest debt. Millennials came of age in the Great Recession, carry more student loans and face higher housing costs, but they\u2019re quick to automate, use low-cost index funds and hunt for better rates from their phones.<\/p>\n<\/p>\n

Explore More: 8 Frugal Habits Americans Are Ridiculed for \u2014 and Why You Shouldn\u2019t Care<\/a><\/strong><\/p>\n

Read Next: 5 Types of Cars Retirees Should Stay Away From Buying<\/a><\/strong><\/p>\n

Here are seven boomer moves worth copying to get ahead financially, even though the odds may be slightly more stacked against millennials<\/a>.<\/p>\n

Boomers are much likelier than younger workers to have saved for retirement<\/a> and to have contributed through their workplace plans, according to the Employee Benefit Research Institute\u2019s 2024 Retirement Confidence Survey. Though many millennials were off to a difficult start in the early days of the Great Recession, saving for retirement should be a priority. Automate retirement funds so you don\u2019t have to stress when that day arrives.<\/p>\n

Find Out: 8 Frugal Habits You Should Never Quit, According to Frugal Living Expert Austin Williams<\/a><\/strong><\/p>\n

Those sweet employer matching funds that some companies offer can grow your savings immensely over time. Boomers are more likely than younger workers to defer more money, thus getting more of a match over time, according to Vanguard.<\/p>\n

Additionally, the older you get, the more you can contribute for tax deferred savings. Millennials can learn from their elders and bump up their contributions<\/a> once they hit age 50 and above.<\/p>\n

If your job is more than manageable, it may be worth it to stick it out for the long haul, especially if it puts you in the position of increased salary, better benefits or a longer time to earn employer matching funds. Boomers are more likely to hold their jobs for longer than millennials, according to the Bureau of Labor Statistics. Millennials might get itchy for something new, but in an economic landscape where job growth is stagnating, it might be smart to stay put.<\/p>\n

Older generations use less of their available credit on average, indicating lower revolving utilization than younger peers, while millennials\u2019 credit card balances grew faster than any other generation in 2024, according to Experian. High-interest debt not only ties up your money in monthly payments, it costs you more money over time in interest fees.<\/p>\n

Boomers tend to focus on capital preservation through diversified and balanced investing portfolios<\/a>. While millennials may be able to get away with slightly riskier investments \u2014 and are more prone to consider digital and tech investments \u2014 they can learn from the tried-and-true approach of boomers by staying invested in a well-allocated portfolio for the long haul.<\/p>\n

It\u2019s no surprise that more boomers own homes than millennials \u2014 not only are they older, thus have had a head start, they were buying into markets when home prices were much cheaper. However, millennials can make buying an affordable home a priority, with the goal of paying off their homes, to be mortgage-free, by retirement age. This can lower their fixed costs in retirement.<\/p>\n

Boomers tend to be the most price conscious about food, whether eating in or dining out and gravitate more toward lower cost meals and groceries. Millennials, on the other hand, like a good meal and are more \u201cfoodie\u201d conscious \u2014 with as many as 39% of them letting higher Michelin star ratings and online reviews influencing where they eat, according to a survey by TouchBistro. Cutting costs on food can free up a lot of money to save or invest with.<\/p>\n

More From GOBankingRates<\/strong><\/p>\n

This article originally appeared on GOBankingRates.com<\/a>: 7 Money Habits Baby Boomers Have That Millennials Should Copy<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Boomers and millennials have followed very different financial paths as a result of the decades when they came…\n","protected":false},"author":3,"featured_media":313013,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[64,16791,39623,255,67,132,68],"class_list":{"0":"post-313012","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-business","9":"tag-frugal-living","10":"tag-millennials","11":"tag-personal-finance","12":"tag-united-states","13":"tag-unitedstates","14":"tag-us"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/115394386651547150","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/313012","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=313012"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/313012\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/313013"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=313012"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=313012"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=313012"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}