Student debt, health insurance and attending friends’ weddings are preventing young people from saving
Let’s call it the millennial paradox. You’re in your 20s, and suddenly, you’re actually making money. The problem is that something or someone is after every single dollar. You need to pay off your student loans; you need to cover your living costs. You need to save for the short term – the next vacation; an emergency fund – as well as for your retirement. Maybe you’re helping out a family member, as well.
The worst of it all is that probably all of these demands on the finite number of dollars you’re making are just as important as each other.