#big mac

Melbourne millionaire Tim Gurner went off to fame recently after stating on the TV program 60 Minutes, that millennials ought to save by skipping on their expensive avocado toasts in order to buy their dream home. Avocado toasts are now the new BigMac index on purchasing power.

Things change quite fast in the age of information where the economy doesn’t serve well as much as it did for millennials’ parent. Back then household expenses were limited to the analog world of mortgage payments, groceries, and transportation bills.

Today the door revolves the other way. The new generations have different goals that don’t reflect the Baby Boomers’ ambitions and we all should take notice about it. The Avocado Toast Index is becoming the new marker of the purchasing power for which this new generation of tech-citizens is being measured for.

Some may argue that:  “When I was trying to buy my first home, I wasn’t buying smashed avocado for $19 and four coffees at $4 each,” isn’t the way to approach financial independence. However, we should argue over what brought spending that much on a veggie toast since it’s so popular.

Millennials are drifting away from repeating the financial patterns of their parents and getting into debts by mortgaging an over-inflated piece of property they can release in 20 to 40 years from now from their bank. Millennials tackled the new reality of economics by denying the old approach of becoming subjugated to indebtedness.

Those born between the 80s and the 90s are defying the status quo by following their own interests on housing rental and purchasing, away from any real estate expectation. Millennials prefer living downtown cities in order to experience the city lifestyle without the stress of the suburban commuting and social isolation.

Markets ought to observe this generation much closer without drawing cheap and antiquated marketing data conclusions. There’s a lot that needs to be analyzed and understood from the millennial user point of view which can bring favor to many companies that are willing to listen.

There’s so much we can learn from the Avocado Toast Index because it has now given us a way to understand the spending habits of a growing and intelligent community.

Homemade Big Mac

Source

randommakings:

BIG MAC IS SINGING

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