Money habits, emergency funds, supporting your adult kids, retirement mistakes and spending less.

1. Millennial Spending Habits: Good or Bad?

The Broke and Beautiful Life — Millennial money practices have been a hot topic. Stephanie noticed this as well, and dug up some specific information using surveys and studies. She found that “28 percent of students with federal loans reported having no federal debt.” It’s no wonder many financial experts are skeptical about millennial money habits.

On the flip side, millennials are more efficient at tracking and using a budget than baby boomers. But Stephanie concludes that the way millennials view their financial situation is different from their actual financial actions. She thinks there is a “disconnect.” That would explain their federal debt misunderstanding we mentioned above.

2. How Much Do I Actually Need in My Emergency Fund?

Half Banked — Des has an emergency fund, but she never really understood how much money she needed in that account. So she wrote this blog and figured out an accurate amount. What’s great is, we can follow her methodology and apply it to our situation.

She first figures out what she’ll spend these funds on. Her fund is for emergency car expenses and income loss — for example, if she loses her job.  She also figures out how much an emergency “might” cost and how much money she spends every month. Check out her blog, it’s helpful. And read this in case you have no emergency fund and suffer an emergency.

3. Still Supporting Your Adult Kids? 5 Steps to Set Them Free

Money Talks News — A Pew Research study found “61 percent of American parents” gave their adult kids “financial support” in the last year. Obviously, those same parents hope their kids can flourish on their own and finally leave the nest. With that in mind, Marilyn created these insightful steps.

The fourth step is “pull back gradually.” Don’t abruptly cut your kids off. That would probably trigger a backlash and a financial and emotional meltdown. Many parents don’t mind helping their kids , but parents must also save money for retirement.

4. 13 Retirement Planning & Savings Mistakes You Need to Avoid

Money Crashers — Supporting your adult kids, as in the previous post, could negatively impact your retirement. That’s definitely a  mistake. Michelle comes up with a bunch more. The most frightening is not saving at all for your retirement. Like she says, Social Security payments alone won’t cut it.

Another huge mistake is “taking loans against your retirement fund.” Once you borrow that money, you must pay it back. And when people start paying the loan back, their 401k contributions falter. If you’re worried about retirement plans, read this post on retirement role models.

5. 5 Simple Ways to Trick Yourself into Spending Less

Good Financial Cents — Alex is a recovering spendaholic. He admits that in the past “spending money felt great.” He overspent on new clothes and even rented Corvettes for the day. He “felt like James Bond.” He also felt like a failure. Then six months ago he abruptly started spending less.

He provides 5 steps that helped him. The second step is: “Acknowledge and Rewrite.” He found out the real reasons he overspent. One reason was he liked getting compliments, so he bought really nice clothes. He acknowledged that and changed it. Now he grooms differently, saves money and still gets compliments.

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Brian Bienkowski

Brian Bienkowski


Bienkowski is a contributing writer and is the face of's 'By the Numbers' videos.

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Article last modified on November 22, 2017 Published by, LLC . Mobile users may also access the AMP Version: Around the Web: Millennial Spending Habits - AMP.