(Last Updated On: December 20, 2017)

Gone are those days when buying a car or a sophisticated gadget or owning an apartment was important to people. A different mindset can be seen on the part of the upcoming generation. Now success is not measured on this materials but in the way of living. According to a recent research, the so-called millennial generation between the age group of 30-35 is least bothered about buying a fancy car or a house. Most of the people in the USA are basically seen staying on a rent are said to be ‘the generation of renters’.

Why does this happen?

Sociologist put forward that the youngsters these days suffer from the problem of financial crises and are not ready to apply for any loans. But on a serious note, this is not the actual problem. The present generation is completely different from their parent’s generation. Their way of thinking and values are different. The youth of this generation believe that success is only achieved if you are staying at a rented house.

If you want to live life ‘King-size’ then become a globetrotter, do some extreme sports or build your own start-up. The main thing is that it is not about achieving stability and prosperity but it’s about having flexible schedule, financial and geographical liberation.

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Lack of interest in the Material things

Remember those days when owning a car was a very big thing for everyone. Now the present generation thinks like Why to buy a car when you can get a cab with your own personal driver. Why to take a mortgage for 40 years when you can live happily in your own rented apartment your whole life.

The mindset has become such that if you stay on a rent it will be easier for you to move from this to another place when you change your job. On a recent study by Forbes, these days’ young people change their jobs in every three years on an average. The concept of proprietorship is no longer pertinent.

 

Ownership concept has become an irrelevant concept.

The Atlantic’s columnist James Hamblin has shed some light on this phenomenon saying that the psychologist has carried out some of the research proving that in terms of happiness and the well- being, the joy of spending money on some new experiences is much more profitable than buying new things.

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Experiences lead us to build good relations and make new friends

These days the present generation is quoted as ‘Neck down generation’ as most of them are seen being busy with the mobile, tab etc. But they believe that social interaction between people is very important which will make you feel livelier.

If you are surrounded by lots of friends you will be happier. It has become such that people would love to hear how you spend your whole year exploring the wild rather than how many apartments you have bought.

Here’s an extract from Hamblin’s article:

‘Turns out people don’t like hearing about other people’s possessions very much, but they do like hearing about that time you saw Vampire Weekend.’

Even one of your bad experiences can become of hell of a good story but material things can never be so.

Buying new things can be a headache

Now, when you look into this you will see that if you own an expensive item, you will definitely worry about its condition. For instance, if you buy a car, you will definitely flinch every time someone’s alarm sounds outside. You be scared of getting robbed if you buy a house with expensive items.

And yes, your car can be scratched or destroyed. Your brand new super expensive TV might shut off after a year. But no one can scratch away your fun filled experiences.

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Each purchase will go down in price

If we talk about our parents they weren’t able to travel as often we do these days. They were not able to have so much fun.  The opportunity was less to start a brand new business and so they invested in cars, houses and any other material.

But we don’t want to do that. Over the time every purchase will denigrate if it’s not a house or an apartment. Then certainly if we think about the real estate during crises then this is definitely a huge ‘NO’.

The only thing that matter are the Experiences which will never let you down, nor can be stolen or won’t go down in price.

Reference: brightside.me