Millennials are in critical financial situations combined with their low level of financial literacy. This condition puts them at risk. Instead of investing their money for home and starting a family, they are often teased for splurging on entertainment and travelling.

The stereotype is that millennials spend their money frivolously. They are spending a lot on streaming services and electronics like the brand new iPhones, and thus makes Stefanie O'Connell, a millennial money expert labelled this a thoughtless overspending.

How to start?

You don't need a lot of money to start investing. It's fine to start with a small amount. The good news, there are a number of apps that allow us to invest using pocket change. Yes, indeed that investing a few amounts each week is not likely to fully fund your retirement or other financial goals. But, Starting small gets you in the habit of investing and growing your wealth. 

Make sure to learn the basics. Read on how investing works, how different assets perform, and when they might be appropriate. Investing in the fine gold is worth the hype, and now there are so many online marketplace offering investing it with very small amounts, such as Rp5,000,00 (USD 0.35) In the end, no one knows your situation as well as you do. Before investing, carefully consider your situation and requesting help from an investing professional.

Welcome to the risk, and get used to it

Risk is kind of like that friend who regularly cancels plans but always comes through in a pinch. There might be heartache in the day-to-day, but in the long run, you’ll be glad you stuck it out.

Controlling risk is key to your investment strategy. One of the best ways to manage risk is to spread your investments and savings across a variety of channels. This is important because if you have all of your money in one place (whether it’s the stock market, real estate, or even municipal bonds issued by your hometown), you’re at a higher risk to lose it all if something goes wrong.