Make mine a millennial money Christmas

As Santa readies himself to come down the chimney, Isobel at Templars gives her last millennial money rant of the year, considering the tidings of good joy offered this year.


For those of us trying not to go crackers over the festive period, some festive tunes give us some millennial money celebrations for the year gone and much hope for the year ahead.

Driving Home for Christmas

This has been the year that FinTechs started fighting to get millennials back on board, and InsurancePal is just one example of the ways they are going about doing it. Last week the insurance start-up announced that it will launch a £15m Initial Coin Offering (ICO) to make it finally possible for us millennials to be able to afford to drive a car. Hurrah!

Using the funds raised from the ICO, InsurePal claims that it can reduce premiums for millennials by giving discounts based on “social proof” endorsements, when a friend vouches for a driver they say is safe and provides credit card details as a guarantee. All bets suggest the launch will be successful (in the first nine months of 2017, 225 companies conducted ICOs and raised more than $2bn).

So, much to the delight of my parents, it looks like I might be (slowly and safely) driving home for Christmas!

I Believe in Father Christmas

Celebrations this week for our young friends, the Zennials, who in coming years will become a part of the pension picture in the future.

They have more than just stockings to celebrate, with the great news that there finally looks to be a reversal of the downward cycle! Millennials are actually in a better place than everyone thought on pensions (yes, remember we grew up in a recession and are money sensible – most of the time….) thanks in part to auto-enrolment into workplace pensions.

As long as my younger sister doesn’t get tempted to opt-out of such pension saving schemes, she might just – one of these years – be finally able to offer more than the customary ‘special’ Christmas hug as her gift of choice! (p.s. Lottie, I’d still like the hug though)

I’ll Be Home for Christmas (home buying)

Christmas is a time for sharing and caring, giving and receiving, and spending time with loved ones.  For many millennials, it is a chance for free food, free wine and hopefully a nice new skirt – all the while providing a rare chance to try to put away a few pennies in a bid to stash cash for the ever-elusive house deposit (sorry, the what?).

All we millennials want is a home to call our own – a trend that hasn’t changed throughout the generations. However, with the autumn budget announcing new measures, and whispers of house price stagnation and even potential drops, maybe 2018 will be our year! Could you fit a little flat down the chimney please, Father Christmas?

Merry App-mas Everybody

From Monzo to Moneybox, the FinTech enabled millennial has never had a better time to be nudged into good budgeting habits. From snapshots of spending, to rounding up investing, the app world is leaving very few excuses for us to not stick to our New Year budgeting resolutions.

So after your cold, crisp Christmas walk, warm your feet by the fire & explore the ever apt app budgeting world. Want a weekend away in the spring? Set up a budget and start working towards it. I tried it out last month and can now afford to fly to Rome for the New Year!

Most importantly this Christmas, cherish those around you; friends you call family and family you are lucky enough to call friends. Enjoy the food, enjoy the wine, and remember that inspiration is all around you – not just on Instagram.

Happy Christmas, from all of us at the Templars Team!