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Sagada Igorot

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3 Parts of Millennial Lifestyle That May Hurt Finances


Millennial lifestyle comes with high colors. But it also comes with a not-so-good price.

The elders in my hometown Sagada always tell me that I must be receiving a high amount of salary because they see me on Facebook travelling to different places and living a seemingly luxurious life eating in restaurants, going to the casino, and even wearing blazers. It gives me a hard time explaining to them that that lifestyle is just an average millennial's way of beating the breeze just like how they spend their time on charities and voluntary works.

I have to admit that living the millennial lifestyle could be really expensive (but it should not be). And there are parts of this lifestyle that need to be reviewed because these could potentially waste money.


1. Using two to three screens in one time

It is not friendly to the electric bill when millennials open the television to watch a movie but then also open the cell phone to play a mobile game or call someone. And in the other room, the tablet is also turned on playing a music video.

Millennials are good at multi-tasking with screen. But they complain when they see that the electric bill is also multi-high. (Photo Source)


2. Living in a condominium unit for reputation’s sake

Do you know how to compute to get the amount that you should spend on house rental or accommodation? Here is a formula being used in real estate: multiply the gross salary by 0.3.  

Say for instance with a gross salary of P15, 000, the maximum amount of monthly rental or amortization should be P4,500.

However, there are those who still spend more than what they should because they feel their friends will leave them if they find out it is only them who do not live in a condo.

Living in a condo (for millennials) is staying close to work and saving on daily travel expenses. Privacy and urban amenities may come second, but it is definitely not about reputation.


3. Transferring from one workplace to another

There are two reasons why millennials hop from one company to another.

First, they look for a better salary package because they think they deserve what the CEO is receiving. Remember the millennial culture of entitlement? There is no problem with this as long as the quality of work is as good as that of the CEO, too.

Second, they are on the process of soul-searching because they still do not know who they are and what they want to do in life-  identity crisis. They still do not know their real skills because they think that the degree they took in college were just part of their parents’ choices for them. 

The problem is that starting a new work is like raising money for business capital.  When I quit my work in Paranaque to started in Ortigas, I literately spent all my savings to comply with the requirements for my new work.

-Relocation- boarding house hunting expenses including paying the meals of friends who came to help me look for a place, rental of truck that brought my stuff to the new place
-Condo Down payment- one-month deposit + one-month advance
-Clearances: Medical (this was the most expensive), police, NBI, barangay, work

Before resigning, budgeting is necessary to know the amount of money that needs to be secured to make things going even while not yet starting with the new work. This makes career upgrading easier and stress-free. 


Is there a way to get rid of these three major aspects of there millennial lifestyle? There is none because these are already part of the millennial DNA but there is a way to minimize the expenses. And one major step is through simple budgeting with the help of a financial advisor who knows how to deal with this kind of lifestyle.


A Marketing Communications specialist on weekdays and a life wanderer on weekends, Christian Lizardo Aligo enjoys working in the real estate industry. For more info, email him at [email protected]

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