Entrepreneurship is the main gig
While working for yourself is a full time job already, people will develop several revenue streams for themselves through freelance and contract work.
It allows more freedom while being kept financially afloat and professionally on your toes as well. It won’t make sense to have one job and one job only.
Entry level and part time jobs are just as likely to get axed as executive and mid-level ones. Developing a cushion is a sound course of career strategy, if not a necessity.
Job hopping will take longer and be more strategic
Its important to test the waters of different professions. Today’s young job seekers, nonetheless, are faced with a recession market. They’ll be a lot wiser (and calculating) within the job hop strategy. The days of of haphazardly taste testing the job sampler plate are long gone.
In reality, there’s limited resources and the illusion of limited resources. Whether or not the job market is as dire as everyone thinks, it won’t matter. Young people will decide to stay at their jobs longer. They’re hedging their bets by adding longer stretches of consistency and time to their job histories.
Distrust is a strong suit
Since the financial debacle, young people bear witness to the consequences of living a life on fast plastic and bling. Working for a living won’t be taken for granted. Today’s twenty something has gained a new respect for what money can and can’t do.
They’ll be smarter borrowers, read the fine print and take more control of their financial futures. Financial institutions are on the chopping block, Gen Y will not have the patience to wait for them to “get their act together.”
Marry sooner rather than later – with no frills
This is not for people on the fence or unequivocally opposed to commitment of any sort. There’s nothing wrong, however, with marrying for the added security that comes with having life partner. This is especially true if you are already in a strong relationship heading towards that result anyway. Long engagements and super-fabulous debt laden weddings don’t make any sense.
Why not marry now and pocket the $30,000 wedding money for a down payment on student debt?
Or, stashing it away for something much more useful: a high earning savings account
You’ll become more creative
Instead of trying to find ways to spend money on others (or for others), twenty somethings will become an even more creative consumer. This isn’t limited to the simple economics of purchasing goods and services. Enlightened people (Gen Y and beyond) will find ways to keep their jobs interesting and engaging. They’ll create “more” within their own professional and social contexts.
This will not be at the expense of money or opportunities (like graduate school or job hopping). This will result in becoming more efficient with time, skills and talents. Fortunately, finding ways to express yourself that don’t involve a materialistic slant and instead, lean towards more altruistic ones is always a good thing.
Photo Credit: R_rose @Flickr