If you ask just about anyone over 30 about the millennial generation, they will likely have, at the very least, a small list of daily stressors. One thing the majority of millennials can agree on is that the number one thing millennials stress out about most is finances.

 Many are living at home with their parents, even into their late 20s and early 30s. They often find that the demands of life are greater than any generation prior. Yes, the economy is strengthening, but not everyone finds that “dream position” in terms of employment and financial stability.

Then, there is the fact that we live in a time of immediate gratification. There is little to no waiting period on almost anything. While that can be a great thing, it also means having to deliver results just as quickly which ultimately can be stressful.

Now We’re Stressed Out

According to the American Psychological Association, those who are between the ages of 18 to 35 are more stressed-out than any generation before them. This is why they have become known as “generation stress.”

Unfortunately, there are some legitimate concerns. This generation has to compete in the job market, a market that is no longer limited to those in their specific location.

Now, because of the advancement of technology, the millennial generation finds itself competing with people all across the globe.

Telecommuting enables people to work wherever they live, sometimes making it more difficult for a person to find a job.

This leads to a lot of anxiety, both for men and women, and is driving up the stress levels of the millennial generation.

Millennial Finances 

While this is a major concern, it is only a symptom of the overall issue that is most concerning to the millennial generation – financial concerns. The majority of people graduating from college now have $75,000 or more in student loan debt.

Finding a job is a huge challenge, adding to the stress of having such a large amount of student loan debt. Being in a financial crisis and being unemployed is a recipe for high stress. 

Financial Competition

The Millennials generation experiences increasing competition to do something epic. Your good friend is getting married?

This is a totally a reason to drop $2k in Miami on a bachelorette party right? You’re turning 30? So, of course, you have to rent out the VIP area even if you have to put it on your card and pay it in installments. Wrong! 

Women Are Affected Most By Stress

Sadly, women are more affected by this crisis more than men. It used to be that men were far more stressed than women, but since 2007 the trend has been going the other way.

Women are finding themselves far more stressed psychologically than men are, and this is leading to ill effects for both.

This anxiety can lead to weight gain or loss, decreased physical health, anxiety, depression, and much more. It has even led many women to become unable to carry children because of their stress level.

How To Manage Financial Stress

As always, let’s discuss some solutions. The truth is that the best stress management method is to create a plan to manage that stress.

Creating a plan of what you intend to do with your life is the number one way to decrease stress levels.

Listen, we can go back and forth forever and say is this my golden opportunity? Do I want to stay on this path and receive a degree in this area or take this particular job?

The truth is who knows yet if it is a mistake until you try it out, move up the ladder and see how far you go? 

Many people back out from a career in which they’ve made progress because they are scared. They say ya know what? Let me start on a new path before I finish this one, because maybe it was a mistake. That is a big maybe.

Unless you truly feel with every fiber of your being that you’re meant to go on a new path, stay still!

Slow down and climb the next ladder rung. If you get where you wanted to go in your current path, you’ve established confidence and made some headway, now you can truly say, “Wow I can’t believe I’m established in this field!”, or “Holy crap! this is not for me.”

Set Goals 

A goal can be any objective that you set and push yourself to achieve. Sometimes that goal may be small (like going for a run three days a week) and sometimes it may be larger (like earning a promotion).

Setting attainable goals is also important. Committing to a career path and making progress towards this path, step by step, will help to alleviate stress.

Why not think of a small goal you want to set right now, personal or professional. To make your goal S.M.A.R.T., it needs to conform to the following criteria: Specific, Measurable, Attainable, Relevant, and Timely.

S.M.A.R.T. goal setting: Specific

What exactly do you want to achieve? The more specific your description, the bigger the chance you’ll get exactly that. S.M.A.R.T. Goal setting clarifies the difference between “I want to be a millionaire” and “I want to get paid a salary fitting for my career area.”

Questions you may ask yourself when setting your goals and objectives are:

• What exactly do I want to achieve?
• Where?
• How?
• When?
• With whom?
• What are the conditions and limitations?
• Why exactly do I want to reach this goal
• What are the possible alternative ways of achieving the same?

The goal must clearly state what is to be achieved, by whom, where, and when it is to be achieved. Sometimes it may even state why that goal is important.

For example, rather than saying “I want to lose weight” you could say “I want to lose ten pounds by this summer”.

S.M.A.R.T. goal setting: Measurable

Measurable goals mean identifying exactly what it is you will see, hear, and feel when you reach your goal.

Measurable goals mean breaking down goals into measurable elements. You’ll need concrete evidence. For instance, “I want to save $5,000 a year for the next five years.” This can be measured by the dollar amount and  amount of years.

S.M.A.R.T. goal setting: Attainable

Is your goal attainable? That means investigating whether the goal is realistic for you. So rather than starting with “I will win a Pulitzer,” Maybe the goal can be “I will write five articles in the next month and try to submit one to an online journal within the next three months.”

S.M.A.R.T. goal setting: Relevant

Is reaching your goal relevant to you? Do you want to run a marathon? Or maybe it is more important for you to focus on getting a job that fits within the degree you obtained.

S.M.A.R.T. goal setting: Timely

Time is money! Make a tentative plan of everything you do. Maintain deadlines and keep them realistic and flexible.

It is not only about making decisions, but it is also about sticking to those decisions.

There is something so settling about creating a plan and sticking with it!

The Takeaway

Make smart decisions about what you want to do with your life, and you will quickly find that your stress levels will decrease and become more manageable.

Will there be a divine certainty from up above telling us we are on the right path?

No, but that would be nice.

Trust yourself and trust that you are moving forward. Sometimes, this is better than staying still or starting new, before you’ve given yourself a chance to succeed.