NEW YORK (MainStreet) — While Christina Piskula works at a tips-based wage job in Chicago at a casino near the lake, she really wants to be a teacher.
“I have a college degree in English literature from Indiana University, but it's hard to find work even with an education and you start to feel the degree is worthless,” Piskula told MainStreet.
Piskula is among the 74.1% of Millennials who say it is hard to keep up with bills and save for retirement at the same time, according to BlackRock's Global Investor Pulse Survey. But Millennials, as a result, are more likely to take an active approach to stay atop their finances: while older generations would review their investments when quarterly statements arrived in the mail, Millennials spend the most time reviewing or adjusting their investments, which is some seven hours per month compared with Baby Boomers who average who hours a month.
Piskula fits squarely into active approach, as the 24-year-old tries to stay afloat financially while living with four roommates in Camden, Ind..
“I try to save $50 or less a month in a savings account, but then I dip into it so I don’t end up saving anything at all,” she said.
The avid fitness buff takes comfort in the fact that she has a 401(k) plan through her employer that is matched, but overall Piskula feels overwhelmed by her fiscal life.
“It’s difficult for young people to establish themselves, because everything costs so much,” she said. “Education costs money. Even to be a hair stylist and work in a salon requires going to school. It’s very deflating.”