This presentation discusses issues facing the millennials in terms of finances as well as career management.

1. Millennials – Household
budgets –Wages,Career
Management andCost of
Living
By: PaulYoung, CPA, CGA
October 22, 2016

2. Agenda
 Student debt
 Average starting Salaries and household budgets
 Government Policies
 New Reality
 Other Sources

3. Student Debt
Source: http://news.nationalpost.com/news/canada/as-student-debt-climbs-to-an-
average-past-25k-schools-invest-in-battling-the-mental-health-issues-it-causes
Issues:
• Student loans start after you graduate

4. Scenario 1
Salary 35,000
Analysis
• Millennials on their own
• Rent can range from $850 to
$1,100 a month
• Mass transit is likely used
more with Millennials on their
own
• Hard to save for a house
when you have money tied
up in household spending as
well as student debt.
• Many millennials live at home
• No Rent
• Free access to cable/internet

5. New
Government
Policies
 CPP hikes
 New mortgage rules
 ReducingTFSA from 10,000 to 5,000
 Student Debt repayment
 Training and skills development
 CarbonTaxation
 Cost of consumer goods

6. New reality
 Slow economic growth (1.5% to 2.2%)
 Staying in current jobs longer than previous generations
 Cost of living forcing millennials to live at home longer
 Government policies has restricted new foreign direct investment

7. What can be
done
 Millennials
 Need to managed their name
 Select a career that both pays a good income as well as having
career opportunities
 Network early and often through linked-in
 Start with financial plan sooner than later
 Push government to support policies that support economic growth
and low taxation
 Do not get caught up with MSM when it comes to politics.You need
to ask tough questions when it comes to policies. Selfies do not pay
the bills!

8. OtherSources
 Instagram – http://www.slideshare.net/paulyoungcga/how-to-use-
instagram-for-marketing-activities
 Career Management -
http://www.slideshare.net/paulyoungcga/career-and-financial-
management-strategy-for-millennials-22-year-olds-to-38-year-
olds
 Wages and Employment -
http://www.slideshare.net/paulyoungcga/wages-and-
employment-canada-july-2016
 Understanding of Government Policies -
http://www.slideshare.net/paulyoungcga/what-is-carbon-tax-or-a-
price-for-carbon
 Labor Market - http://www.slideshare.net/paulyoungcga/canada-
labour-market-september-2016
 How millennials can be successful?
http://www.slideshare.net/paulyoungcga/how-can-we-help-the-
millennials-be-more-successful