Who Are the Millennials and How They Are Different from Other Generations

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Generation after generation has always talked badly about one another and how that generation never contributed anything positive into the world, but time after time each generation proves itself to overcome the negative outlook people thought. Everything that has been built or an idea turned into reality has all changed throughout time but one of the largest groups of people that made an impact on this world in modern-day technology time is Millennials. According to the Cambridge Dictionary, Millennials are people who were born in the 1980s through the early 2000s.

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Millennials grew up with technology which is why people think they are lazy and spoiled, but while the shape of the future is changing, millennials are the ones changing it. The group of people has changed the way a household is supposed to be set up, marriage, education, and communication.Millennials are the largest generation in America, with 95 million members in their twenties and thirties. Millennials are mostly baby boomer’s babies, which is now the second-largest generation. Millennials, however, vary in several key ways from their predecessors. Younger generations of Americans are less likely to marry in their twenties. Nearly 50% of baby boomers have been married between the ages of 18 and 32, while only 26% of millennials are married within the same age range. The U.S. marriage rate plummeted 60 percent from 1970 to 2012, from 74 annual marriages to 31 per 1,000 unmarried women. Yet, millennials have a strong desire to marry which happens to be a reflection of what stage they are in life.

Much of their decision to cohabit rather than commit to marriage is due to their deep insecurity about the possibility of failure based on many of their parents’ marital failures. Also, millennials are less likely to have children at the same age than older generations. But if millennials were to have children, it is twice as likely to have kids out of wedlock and live as a single parent. Even so, they are less likely to live with their children in the same household than Boomers. Apart from marriages, there are living arrangements set in place that Millennials have also changed. Millennials are more likely than the previous two generations to stay with other family members, such as parents or siblings. Thirty-six percent of Millennials are dependent on financial assistance from their parents or other family members.

When it comes to spending, millennials are slower to own homes than previous generations. Instead of buying a home, millennials spend more money than their predecessors on high rent prices and paying off student loans. Millennials are the most educated of the last four generations, they are likely to have graduated from high school, and most likely completing a four-year college and earning themselves a degree. Before the introduction of the World Wide Web, for instance, Baby Boomers grew up without it, while Millennials incorporated it in their cultural identity from a young age. The average debt of a graduate student in 2015 amounted to $30,100 per borrower. That combined with low salaries in many fields of work, ensures that Millennials have to struggle to pay off a significant amount of debt for many years, which often leaves them to be financially unstable to pursue aspirations such as starting a family, buying a home or establishing their own company. In contrast, Baby Boomers had much lower costs to get work in their fields for higher education. In 1971, it wouldn't take nearly as much time and effort to pay off a college education as it does today. Baby Boomers would work a part-time job to pay for school in the seventies and still have seed money for other things. But that’s what millennials struggle to do.

Millennials have restated on how to communicate in this world. Baby Boomer’s understanding of all kinds of relationships throughout their lifetime as a source of trust in being able to talk to a millennial. Millennial’s personal growth and development priority are taking the time to talk to the Boomer about his or her thoughts and emotions even when it’s awkward. While comparing generation so close to each other, at first people may think that no significant or noticeable difference would be involved. However, as people begin to analyze every aspect of the lives of their parents, these gaps are becoming apparent.

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