Despite criticisms of the generation, Millienials are actually cost-conscious consumers, often opting to save money instead of spending it on TVs, cars, houses and Costco memberships. But as a millennial, shelling out dough for certain items and experiences at this time of your life can come with priceless benefits, including health, wellness, experience and career growth. Here are five areas where splurging (or investing) pays off.
Being a part of the fitness craze doesn’t come cheap. CrossFit, boxing and bootcamp gyms, along with yoga, cycling and boutique fitness studios can cost hundreds of dollars per month. Not to mention registration for Ragnar Relays, Tough Mudders, Spartan Races and marathons can sit within that range, too. But the benefits far outweigh the costs when it comes to health, community and weight management — especially in our culture known for sedentary lifestyles full of restaurant dining and bar drinking. Although joining a fitness studio may seem like a hefty expenditure, it’s also an investment in something that has no price tag — your health and wellness. For some fitness fanatics, these types of workout trends also become more than a workout, but a passion for strength and challenge among a team or group of friends.
Since the development of YouTube, blogs, podcasts and social media, it’s easier than ever to produce and share content. Storytelling is a great hobby for creative types or those who are passionate about producing and sharing content. There are plenty of gadgets that are tempting to buy, but if a piece of pricey technology is the centerpiece of your video making or photography, then purchasing the GoPro, Final Cut Pro X or an Ikon camera may be worth the financial plunge. Storytelling through a medium is not only a positive outlet (compared to going out for drinks or playing video games), but it could also help you build a portfolio and your career.
Between your IKEA furniture and Craigslist finds, a premium mattress is one home item worth the price tag. A high-quality mattress is one element of high-quality sleep, which many of us don’t get enough of. Restful sleep is just as essential to our health as staying active and eating well, yet more than a third of American adults aren’t getting enough ZZZs on a regular basis, according to the Centers for Disease Control and Prevention. Make sleep a priority by starting with a brand new mattress, then create a sleep-supportive sanctuary by keeping your bedroom uncluttered, maintaining a cool temperature, decorating with soothing colors and dimming the lights before bed, the National Sleep Foundation suggests.
Time moves fast, so take advantage of being young and uninhibited by choosing your own adventure. Maybe it’s backpacking, mountain biking, skiing/snowboarding or exploring abroad. No matter what type of adventure you dream of, make it happen now. Whether you need to collect your backpacking gear or plan out a European excursion, the first step is to save. Reprioritize your budget to make that adventure your next big purchase; this is an investment in experiences and memories, which are priceless. NerdWallet offers a savings guide so you can adventure out into nature or around the world without racking up debt.
While some men stay on the leading edge of fashion, other dudes have a closet driven by comfort and a disdain for shopping. If you fall into the category of still wearing college T-shirts, then you’ll want to overhaul your closet, especially if you’re starting out in your career or are ready for that promotion. According to GQ, the staples every man needs his in closet include a crewneck sweatshirt, navy chinos, tan derbies, an oxford shirt, a suit and a timeless watch. For the clueless, one easy way to start your new clothing collection is with Trunk Club, an online service that provides personal stylists and delivers your clothes right to your home.