Top Tips for Beginner Investors

Everyone needs to have some form of financial goal throughout their life. It can be that you are saving up for a holiday or buying your first ever house, we all have certain goals that need financing in order for us to achieve them. Many savers who are fed up with risible rates of return on their cash are being tempted to invest in stock markets instead. This article will let you know what taking a punt on shares really means for your money, what and where to buy, and how much risk to take.

Make a plan

Create an investment plan that works for you. Thorough and useful funds research will allow you to be able to identify the types of product that could be suitable for you and your money. A good way of going about your investment plan to is to start thinking about low risk investments such as Cash ISAs. Once you have built up confidence and know what you are doing, add medium-risk investments like unit trusts if you’re happy to accept higher volatility. Only think about high-risk investments once you’ve built up low and medium-risk investments.

Think about what you want to invest in

Cash is normally viewed as the least volatile asset class. Your money will always be safe and protected by the Financial Services Compensation Scheme in the event of a bank or building society goes bust. Fixed interest investments, which are loans to companies or governments, provide modest but consistent returns and are usually regarded as lower risk than equities. You can invest in this sector via bond funds.

Shares, also known as equities, allow you to buy a certain amount of stake in a company. Shares tend to rise in value when a company does well and fall when it does not. You can also invest in commercial property funds and commodities, such as steel, oil or gold.

What to avoid

While traders of all backgrounds and educations end up making the same mistakes from time to time, beginner traders need to make sure that they do everything they can to stop themselves from making them, as their capacity and capability to bounce back from a severe trading setback is likely to be much more limited than with knowledgeable traders. Avoid high-risk products unless you completely appreciate their specific risks and are happy to take them on. Only consider higher risk products once you’ve built up money in low and medium-risk investments. And some investments are usually best avoided altogether.

Invest regularly to minimise losses

You will never be able to pick the absolutely best moment to invest to beat the market. You can though, increase your chances of increasing your returns by drip-feeding your money into a fund often, for example once a month, rather than investing it all at once. This is known as pound-cost averaging. You buy fewer shares if you catch the market when it is rising but you can buy more at cheaper prices if it is falling, averaging out the overall cost and risk.

Is Investing in Real Estate too Good to be True?

Many people have profited from real estate investment, and when you see properties skyrocketing in value in a short space of time, you may think that perhaps property investment is too good to be true. Not only is there potential for your property to increase in value, but you can also earn rental yields, paid by your tenants. With guaranteed yields, enormous projected profits and huge demand, it looks like property investment is a money-making no brainer.

However, there have been occasions when an investment has been too good to be true, and caution is always advisable before investing. Though property investment has a wide range of benefits, it also has disadvantages, and these must be weighed against each other. There are some drawbacks to real estate investing, and if a deal seems too good to be true, it is essential that you perform due diligence and thorough research. Look for any hidden clauses, any guarantees, and make sure you are aware of all terms before investing.  There may be extra costs, like ground rent, maintenance costs and solicitors’ fees which you will need to cover, and these may cut down your profits.

It is important to bear in mind that property values can go down as well as up, and there may be times when your property is worth less than you paid for it. Property, like any asset, is at the mercy of the market, so if property prices go down, yours will too. If you do want to sell your property because of an increased profit, then it is also worth pointing out that selling property can be a time-consuming and expensive process, which means it isn’t advisable for investors looking for speedy returns. 

However, overall, real estate continues to perform well as an asset, with house prices rising by over 3% in the UK, despite some of the toughest economic times. Demand for rental property in the UK is constantly growing, with almost 5.8 million households expected to be living in private rental accommodation by the end of 2021. Currently around a fifth of the population rent from a private landlord, with that number set to grow impressively. Any other asset which could demonstrate such demand would be high up on any investors’ priorities. Because there is such high demand, prices have also gone up, so landlords are earning more rent.

Though property investment may seem too good to be true, this is oversimplifying the process too much. Look for a property investment company that shows ample due diligence and has a proven track record, like RW Invest. There are some outstanding opportunities available for property investors, but there are also disadvantages and considerations that need to be made. If anyone tells you that you will not lose money, be wary, there is always a chance you can lose money by investing it. However, investing in real estate doesn’t need to be too good for true. It can be a truly lucrative way to invest your money and grow your wealth, you just need to properly evaluate each opportunity and make sure you are as well-informed as possible. By prioritising your income and by looking for rental yields and tenant demand, you can ensure that your property investment pays off for you.

3 Simple Steps to Grow Your Finances in 2019

Could 2019 be the year you stopped living from payslip to payslip? A study by Fidelity Investments tells us a growing number of people planned to make a financial resolution for 2019. Yet, year after year, this simple dream continues to elude even the smartest of people.

 We know the story too well–by the second week of February, 80% of resolutions fail. The good news however, is some have done it and we can glean a few things from their experiences to set you on the path to wealth in 2019. While we can tell you upfront that the process itself is easy, figuring out the how to go about it can be daunting.

Getting in shape financially in 2019 requires 3 simple steps: 

  • Save more. Spend less.

Anyone with a slow metabolic rate knows that losing weight translates to two things–consume less food and exercise more. Relating this to your finances, financial fitness requires you to reduce your spending while accumulating savings. You will need to develop a written budget to set limits on your money. Give every single penny a job.

 To make an effective budget, track your spending for 30 days. Then, work on putting your spending habits right. Make sure none of the following makes you spend:

1.       impulse buying

2.       unnecessary services

3.       services and subscriptions you never use

 There are quite a few personal finance apps that can help with this by helping you wait at least one full day before going ahead with any purchase. As you spend less, save too. Set aside a small amount every payday, and steadily grow that amount over time. Your confidence will grow and drive you to do more.

There should be days or even weeks when you spend nothing at all. Also, be on the lookout for loyalty schemes that help you save money on subsequent purchases. These can be found for all types of businesses, as they have come to recognise the value of capturing customer loyalty.

  • Grow your retirement account balance

Thinking of retirement sooner than later helps shape your thoughts about money. It’s what you do with your money that counts. Your company might have a pension scheme in place. Do opt in now.

If you happen to be in line for a raise in 2019, your appetite should not grow along with it. Put aside some additional income for retirement. Redirect 50% of your raise to your retirement account. This will reduce your current tax bill, increasing your payslip value and helping you build a decent nest egg.

  • Invest

It’s a good thing that you work and are paid to do so, but have you considered putting your money to work for you? Yes, begin to look for ways to invest your money. Investing is not for billionaires alone. You can start right where you are.

There are investing platforms that let you explore the power of index funds with small amounts. Once you sign up, you invest in the stock market. It is a smart way for new investors to get started as index funds imitate the performance of a particular market index, like the FTSE100. This keeps your exposure at a minimum.

With index funds, you won’t be required to research and pick individual stocks. Your portfolio’s performance is also not dependent on the performance of any single company. American billionaire, Warren Buffet, rates index funds quite highly. This means that even the super-rich trust them.

A note of warning however – investing is not a get-rich-quick scheme. You will get rich, but it will be down to a combination of hard work, commitment, and patience. If you stay consistent, the power of compounding will work for you and you will have a chance to grow your money consistently.

Compounding works when you make it work–by investing small (if that’s what you have) sums–and let it turn these into fortunes many times over. The only requirement of compounding is that you pick the right investment. To help with your financial fitness journey, Suburban Finance will provide tips, tricks, and deals throughout the year to contribute to your success.

Pros and Cons of Accepting a Company Car

In an ideal world, accepting a company car from your employer is a no-brainer. However, if you know about them beforehand, there are various reasons that will make you question accepting the offer. As with most incentives, there are pros and cons to accepting and the receiver should be wholly confident and happy with their decision.

To be or not to be?

With all serious musings set aside, a company car is a considerable incentive and there are a number of advantages to accepting a company car from your employer.

The winning argument usually lies with the fact that insurance, road tax, repairs, car servicing and fuel costs are all covered by the company. Indeed, this is all within reason. You won’t be so lucky if you’re prone to driving recklessly or performing donuts in the work car park. Nonetheless, these are reasonable costs that would be taken care of by your employer and will no longer a concern for yourself. This enables you to spend the money elsewhere or save if you’re a practical thinker.

For others, the most convincing factor will be the idea of driving the newest version of the chosen car model every three to four years. Admittedly, this is purely a vanity aspect, but if you’re going to drive a car owned by the company, it may as well be an aesthetically pleasing, environmentally conscious, and powerful vehicle.

For further reasons to accept a company car, the OSV have compiled a convincing argument for and against: https://www.osv.ltd.uk/company-car-worth-it/.

Are some things too good to be true?

On the other hand, when you get deeper into the finer details and small print, the idea of having your own company car may not seem as good as it was made out to be.

When talking about driving the newest model above, you may have noticed that it says “the” chosen car model, not “your” chosen car model. In most cases, your company or employer will choose which car model you get to drive as they will be covering all costs associated with said car. Therefore, they’ll most likely choose a model that is cheap to run and won’t cost a fortune to replace any necessary parts. Be mindful that whilst you could be driving a new model, the chances of you driving your dream car are slim.

Following on from this point, the car will never fully be yours as you don’t own it. As mentioned previously, the costs are being covered by the company and for that reason, the car is owned by the company. As a result of this, there are complications to driving a car owned by someone else. For example, the employee is restricted to how often they can use the car for their own personal use. This means you may need to pay and run a second car to use on the weekends or after work. For most employees, the option to use their own car for work and claim back miles through the company will be more appealing as it’s less hassle, easier to track, and takes up less space on the driveway.

In conclusion, there are advantages and disadvantages to both sides of the argument. Essentially, the easiest way to decide will be to look into how often you use your car outside of work. If it’s often, then consider approaching the option of claiming the business miles acquired in your personal vehicle through the company. However, if you decide you only really drive when you’re commuting and for business appointments, then why not save yourself some extra pennies and accept a company car.

Different Ways to Save on The Cost of Funerals

There are several things to think about and determine when arranging a funeral service. It is often a difficult time for family and friends who are dealing with the loss of a loved one. A funeral is also, to some people’s surprise, a lot more expensive than they first thought, often costing thousands of pounds. As the cost keeps rising, more people are looking for ways to save on the associated funeral costs, from a backyard burial to government help all the way to ‘tree headstones.’ But there are some other things you can do to significantly lower the costs when it comes to somebody dying.

Choosing the Funeral Director

The services of a funeral director will start approximately at around £2,000. While funeral directors can take on all elements of a funeral service, you may want to assume some duties yourself to cut the funeral costs. Talk to your chosen funeral director about the different processes involved with organising a funeral, step by step.

Is a chapel of rest required? Do you need a vehicle and if so, does it need to be a hearse and limousine?  Would friends and family act as pallbearers and help carry the coffin or casket? The decision is yours. If a funeral director opposes to what you want, you need to ask them why. If you are not happy, then contemplate going to another funeral director that can organise the service just the way that you want it.

In fact, there is no legal obligation to use a funeral director at all. You may wish to organise the funeral yourself. However, you need to think about the responsibilities carefully. Are you confident enough to take on these duties yourself at such an emotional and stressful time?

Burials and Cremations

Burial and cremation fees can often be one of the most costly aspects of a funeral service. Alternatives to keeping the costs down can include choosing natural burial or direct cremation.

A natural burial involves a burial in a protected area of natural beauty such a forest, in which the deceased are returned to the earth in the most natural way possible. It’s often cheaper and is generally viewed to be much better for the environment.

Similarly, you could pick a direct cremation. This takes place outside of normal crematorium hours and mourners are not allowed to be present while the cremation happens. Following the cremation service, the ashes are then returned to the family. This is far more affordable than a conventional burial or other cremation options that are available, and any money that is saved by taking this cheaper option of cremation can be put to good use by remembering the deceased through a suitable memorial ceremony or wake.

The Wake

A contemporary wake is, basically, a celebration of the deceased. Close friends and family members gather together. A wake involves refreshments, good vibes, and, above all, laughter. It is an important time for telling and swapping stories about the person who has passed away; sometimes they can be serious stories and sometimes funny ones. For some people, it is a way to compensate for the sadness of losing a loved one.

If you want to hold a wake or memorial ceremony after the funeral service, then there are several different ways you can keep the costs to a minimum. There is no right way to hold a wake, so do what feels right to you and try to plan within your price range.

Instead of hiring a large venue, the wake can be held at the home of the deceased or at the home of a family member or close friend. Likewise, responsibility for refreshments can be shared among all the guests, with everyone bringing food and drink to share.

The Contemporary Way to Pay for Funerals: Crowdfunding

If a person wants to raise money by crowdfunding, they can ask for it by posting details of why they are seeking to raise money on a website. This means they can bypass approaching a bank and asking them for the money that is required. The most popular crowdfunding platforms on the internet today are Kickstarter, Indiegogo, Patreon and GoFundMe.

A more contemporary way of reducing the cost of a funeral service is using crowdfunding websites. Rather than a single family member or one part of the family taking on all the financial responsibility of the funeral costs, those that knew the deceased can all donate to help cover the expenses. This can be an excellent way to cover the cost of a funeral and bring people together to remember those who have passed. When everyone has helped fund something, no matter how little, there is often a sense of greater involvement in the planning process of a funeral.

How Will Brexit Impact Small Businesses?

The business world is changing, with new policies being made on a regular basis and new economies emerging. For the UK, the major game changer businesses are concerned about is the ongoing Brexit discussions. The question on every lip is: How is Brexit going to affect economic establishments in the UK, especially small enterprises?

Brief History of the EU

British Exit from the European Union, popularly referred to as Brexit undoubtedly can change the UK market in ways that are yet to be understood. The history of European Union dates back to 1958 when six countries came together to form the European Economic Community. Germany, Italy, France, Belgium, Netherlands, and Luxembourg created the EEC to boost the economies of member states and ensure higher standards of living for all their citizens.

Twenty-one countries later joined the EEC with the UK becoming a member in 1973, bringing the total membership to 28 member-states. The EEC was renamed the European Union in 1993 to reflect the diversification of its operations. From being an economy-only organisation, it expanded into other areas of policymaking: health, security, justice, environment and climate, migration. But running a single market has been at the heart of the European Union functions.

Benefits of EU’s Single Market for UK Businesses

The internal market system operating in all member states means there are no borders within the European Union. All EU citizens enjoy the four freedoms: freedom of movement of goods, services, money, and people. And the UK enjoys all of these. Statistics show the EU has remained the UK’s biggest single business associate. The single market accounts for 44% of the country’s exportation of goods and services.

Conversely, a market impact analysis says Brexit will close the EU export channel, causing the UK to lose £220bn while incurring at least £4.5bn every year in extra trade tariffs only, not to mention the cost implication of the huge administrative burden the new policy will cause.

No-Deal versus Chequers Agreement

Brexitnegotiations commenced between the EU and the UK on March 29, 2017, and are due to end at 11:00pm on March 29, 2019. The country is still struggling to get in-house support for the draft departure deal.

By March 29, 2019, if the UK does not have a signed withdrawal agreement, they will crash out of the EU on the set date. And this situation is known as No-Deal exit, and it automatically ends all ties on that day.

The Chequers Agreement is a draft deal that stipulates the future relationship the UK would have with the EU after Britain’s exit from the union. Theresa May, the British Prime Minister, issued this document at her residence.

If the agreement gets endorsed before the exit due date, activities will remain the same between the British people and the Union for 21 months to give Britain the opportunity to adjust properly before the new relationship comes into effect in 2020.

What Brexit implies for Small Businesses in the UK

• Fear of the Unknown

New policies bring with them the fear of the unknown. Reports show that the future isn’t going to be rosy for British enterprises. Whether Britain gets a No-Deal or the Chequers Agreement at the end of March, all UK SMEs need to get well prepared for Brexit immediately to avoid unpleasant surprises.

• Increase in costs

Besides general fears, the major implication will be that of cost. Since Britain will become the third country to leave the EU, trade tariffs will definitely increase. That means small exporters and importers get to pay more to sell to or buy from the EU countries. Small businesses’ cash flow will radically reduce.

• Extra administrative necessities

With the withdrawal come new policies in different kinds of trade. Depending on the business you run, you’ll need experts to help you handle complicated administrative matters to avoid legal entanglements.

• Limited access to workforce

With the restriction in the movement of EU citizens into the UK, small businesses will be stuck with a limited choice in labour as they must choose employees only from among UK citizens.

• Loss of inspiration

Ambitious small business owners draw inspiration from their bigger counterparts and always try to measure up to their standards. With Brexit, some big businesses will move out of the UK, especially those owned by the citizens of EU countries. This will affect the small businesses that are trying to model their operations after the well-established brands. Business coaches have advised that small enterprises should learn their art well and deliver quality goods and services. This coupled with exceptional business ethics will keep you afloat.

Why Credit Reports are so Important in Business

It doesn’t matter whether you are applying for finance with a lender; credit with another business or simply just trying to get a good deal on your business mobile contract, your credit score will definitely come in to play at some point of the process. Choosing to ignore you companies credit score is a big mistake. Your credit score can affect how customers, potential leaders and business partners see your company.

If you would like to learn why your credit reports are so important for your business, read on.

Build your score

A poor credit score can make it extremely hard to obtain credit from suppliers or funding when you may need it. The first thing you need to when trying to build a good credit score is to understand what your score is and what you can do to change it. If you are aware of both of these factors, you will be able to do things to positively improved your score and make sure it is not limiting your company to new and different opportunities.

Leasing office space

As your business grows, you may need more room to allow you to expand. You may just want to move your business instead of trying to expand the room you have. Obviously, in both situations you will be renting, although having a bad credit score is more likely to ruin your chances. Landlords now use business credit reports to help decide whether they want a business in their space or not. They will have a deep look into your business credit score before allowing you to use their space. A good credit score will make your life so much easier when looking for offices.

Low-interest rates

An interest rate is the cost you pay on the amount you borrowed from a financial institution. The interest rate of a business is related to the credit score of the company trying to get one. A good credit score will allow you the low interest rates from the banks as it is a sign that you will pay back all of the money that you owe on time. It is a really good idea for entrepreneurs and business owners to try as much as they can to improve the credit score of the business. Make sure that you pay all your bills and invoices on time, repay your loans and monitor your business credit report on a regular basis to correct any errors you may uncover.

Correct your mistakes

A credit report gives the world a financial picture of your company. If you find out that you have wrong information, your company will be presented in the wrong light to people you are going to be trying to impress. This, therefore, could end up meaning that the lenders and suppliers will make unfavourable decisions due to this incorrect information.  By being able to work out your own company credit report, you can frequently check and identify any mistakes and request it be corrected.

Liverpool buy to let is booming due to an increase in salary and job opportunity

Liverpool has recently disclosed that the city has seen the second largest increase in job vacancies in the UK, as well as the average wage rising. Renowned recruitment website CV Library discovered that the employment opportunities across Liverpool had risen dramatically by 14.4% in May 2018, whilst a 6.2% rise in salaries advertised on the site for the Liverpool region was also evident.

CV Library is the third largest job vacancy site currently on the internet with an extensive database of around 12 million CVs. Statistics across Liverpool are a clear indicator for the increasing success of the city and the thriving job market it possesses. The northern city is a true contender against the southern powerhouse of London, as it overtakes the capital and the city of Birmingham to offer the second highest amount of jobs across the whole of the UK.

In 2017, the city was crowned the best location to guarantee stable employment by the Liverpool Echo. This was a result of high business confidence in the area. In the same year, the city experienced an 11% rise in job applications with vacancies up by 20%, which resulted in entering 2018 with an abundance of job market assurance. Positive trends looked set to continue, as the northern hotspot succeeds in maintaining its prominence for employment across the UK through the amount of stability the city provides.

The population of Liverpool has increased by over 180% since 2002 and the region has been highlighted as a melting pot for younger residents between 17 and 29. This demographic sets the demand high for good quality city centre living, as they require proximity to local universities, a thriving nightlife and access to a range of different businesses on their doorstep. Although living in the bustle of the city centre can present higher costs compared to living on the outskirts, often the advantages outweigh the drawbacks of a slightly increased cost. As salaries are increasing, those who choose to live in the city centre for convenience have a larger amount of disposable income that helps to justify steeper rental costs in brand new, luxury properties.

Both the quality and quantity of jobs are producing a mass exodus from London as the capital isn’t the only region that entices those from around the world that are seeking careers in a major city. When it comes to residential accommodation, London’s steep prices are off-putting for anyone, therefore the northern corners of Liverpool are a far more appealing prospect. A flourishing job market and low cost, affordable rents are tempting to those living in the South as they can escape extortionate living costs whilst still residing in a spacious and high-quality apartment. A region delivering a high standard of opportunity is not only attractive for residents, but investors are also able to reap the benefits of the city’s prosperous investment opportunities. Property investment specialists RW Invest have a diverse range of completed and off plan developments that offer a combination of both low property prices and high rental yields for both first time investors and those looking to diversity their property portfolio.

The Three Pillars Of An Investment Manager Relationship

Hilton Capital Management CEO and President, Craig O’Neill put it best when he said, “We balance entrepreneurship with conservatism.”  

When asked by both shareholders and investors from all sectors who wonder how best to weather market volatility, he says there are three constants in his industry and constant change is one of them.  (The other two are constant pressure to perform and constant competition.)

So, he says, work with a financial investment manager or advisor whose firm’s interests are aligned with yours–and of course one who has experience, discipline, and integrity, and a strong process in place that can demonstrate proven, measurable results.

“Experts can’t stress enough how important to it is to have professionals in place who can anticipate market shifts and react or adapt,” he says.

Hilton Capital Management is a privately-held  investment firm. The focus on risk management and capital preservations are the cornerstones of the company philosophy and they pride themselves on managing money in a responsible manner, with a long-term outlook.

The company’s financial philosophy rests on three pillars. These three pillars are solid advice for any investment manager in a client facing role.

1. Craft an investment road map.

This involves taking the time to learn about a client’s strengths, tolerance for risk, and long-term goals, and then applying this knowledge to an effective strategy for how to get there.

2. Develop a long-term strategy.

Using insight into the client’s long-range plans and short-term needs to craft an effective, yet, safe plan of action.

This includes managing and moving assets as needed to harness momentum when the market is strong and minimizing potential losses in economic downturns.

3. Review and revise to adapt to changing circumstances.

The plan should be flexible enough to adapt as circumstances and markets change without exposing the client to undue risk. Clients should have enough liquidity to provide comfort and flexibility while enabling adequate growth and maneuverability

The Business Side Of The Equation

On the other side of the manager/advisor and client relationship are the business essentials. The three pillars here are:

1. Client education.

Clients should always be kept fully informed and in the loop about their financial health, inverting decisions, and potential problems. This allows a true partnership that benefits advisor and client.

2. Support.

Advisors and wealth managers should provide support on-demand by being reachable over a range of platforms during business hours and for emergency consultations. Service should be personalized and robust.

3. Effective, timely communication.

Clear communication is the backbone of any successful partnership. Any information should be conveyed in such a way that the client understand the implications of every move and factor, and it should be performed in an honest, timely manner.

The financial landscape is always changing, but having the right tools and a seasoned consultant to guide you to long-term growth will make the road to financial freedom a little less bumpy.

Millennials Bent on Redefining What it Means to be a Family

Millennials are disrupting many aspects of society, including the way families share wealth. This is highlighting how different this group of people are compared to other generations.

It is true that this generation is known to disrupt established norms, such as working with the gig economy where an individual can use assets to make money, but this particular change is quite unexpected. In essence, a number of millennials are doing their best to share their wealth with their families.

The following is meant to help highlight these changes to give everyone a glimpse into the kind of society millennials are going to be creating.

Help Goes Beyond the Self

Many people within the baby boomer generation and other generations pride themselves on their ability to pull themselves up by their bootstraps. The idea of asking for help once they are adults seems to be something many in these generations frowned upon. Furthermore, the concept of helping their grown children was something many did not want to do.

Millennials seem to be throwing these concepts out the window in different ways. Yes, a large portion of this generation is not only staying at home longer, but they are also asking for support, even if they are grown adults. It should also be pointed out that this generation also intends on helping grown parents when the time comes and are more than willing to help their own children at any stage in their lives.

Family Home is Expanding

More millennials are having trouble purchasing a home. Perhaps this is the reason many are choosing to stay home or creating a plan to purchase a family home to share with everyone in the family, even as the family grows. The idea of having more than one generation living in one household seems foreign to developed countries, like the UK, but the reality is this concept is old as time.

There are individuals within this generation who are actively looking for a home that would accommodate their entire family’s needs, which is different from before. This means that millennials are going through the entire mortgage process not only to help themselves but anyone else in the family who needs the living space. These new homeowners will likely want to pass on their homes so that their children do not have to worry about their living situations.

It is a bold idea that is bound to catch some of the older generations off guard since they have been taught that multi-generational home living is frowned upon. Still, it seems that this particular trend amongst this population is not slowing down. It may be birthed from necessity, but the idea may stick around.

Gender Roles are Radically Changing

Millennials are bringing back multi-generational living, and they think that the wealth of a family should be shared amongst anyone in the family that needs help. Clearly, things are definitely shifting in those areas, but this young group of individuals did not stop there because they are also rapidly changing gender roles within a family along with expectations.

There was a time when women were expected to stay at home and men were expected to work, but that is no longer the case; in fact, it has not been the case for decades, but it has never been more clear as it is with this generation. Both sexes are expected to work nowadays, and both sexes are expected to contribute to the family unit in equal ways.

Furthermore, it seems that many millennials are encouraging members of their families to seek out multiple streams of income and not just one income from one job. It is easy to see why since many millennials wear more than one hat through the shared economy that allows them to not only work one job but a number of little jobs in between, such as ride-sharing or doing little odd jobs for others. There is no telling what other changes millennials are going to introduce to modern families, but it is safe to say that it will be different. Some of these changes may evolve, but only time will tell how far this new crop of people are willing to radicalise things.