Tim Gurner’s millionaire advice to millennials (him saying to stop buying avocado toast in order to save for a downpayment) didn’t go over so well with millennials, and we should know.
Let us be clear: Millennials would rather eat avocado toast than save every penny for “Freedom 55”, thank you very much! As further evidence of this millennial mindset, new research conducted by the 18-35 year old travel experts at Contiki Holidays Canada found that experience is exactly what matters most to millennials. Home ownership may have been a priority for previous generations, but not for modern youth.
Here’s the real deal on 18-35 year olds and what’s most important to them, everything listed on ‘The No Regrets List’ (the same research that you featured this past winter about the top destination/experiences, but these results are on them from a social-economics point of view):
71% of young Canadians agree that experiences are the most important thing in their lives. In fact, Gen Z’ers (a subcategory of millennials born after 1995) place an even more significant value on experiences rather than material possessions at 96%.
Casper Urhammer, Global CEO of Contiki noted “our research shows 18-35 year olds place a larger value in experiences over possessions and now with housing being so expensive in places such as Vancouver and Toronto, some young people are likely pursuing other goals first, knowing that buying a house could be a little further down the line than it was for previous generations.” 29% of 18-35 year olds agree that material things have very little value. In contrast, only 27% of 18-35 year olds would call themselves frugal.
Millennials are very attuned to the political and economic state of the world, with majority (93%) feeling that the economic and political state will have a big impact on their generation at large.
Today’s Millennials Are Obsessed With These 9 Things (And Avocado Toast):
- SOCIAL & CULTURAL EXPERIENCES: Social (81%) and cultural (64%) experiences are most important to 18-35 year olds.
- OPEN MINDEDNESS: 66.7% believe in equality; 54% believe in multiculturalism; 48% believe in peace; 45.4% cannot understand why accepting the LGBTQ community was ever an issue.
- MAKING A DIFFERENCE: 55.4% want to make a difference in the world; 32% believe sustainability matters.
- HEALTH: 52.4% focus on keeping their mind and body healthy; 24% do not concerns themselves with body image
- GOING TO GET WHAT THEY WANT: 40% are confident they will achieve their dreams
- TAKING RISKS: 44% are not afraid to take risks
- FEMINISM: 20% believe feminism is standard
- GLOBAL CITIZENRY: 20% look at themselves as global citizens
- WORLD TRAVELLING: over 30% would rather travel the world then go straight to college, grad school, or the work force