The Two Types of Millennials, and the Differences Between Them

undefined undefined / iStock via Getty Images
undefined undefined / iStock via Getty Images

Though often described in blanket terms, each Millennial's experience varies greatly. And it isn't just their age ranges and relationships to technology that divide the generation. According to one expert, American Millennials (anyone born between the years 1981 and 1996) fall into two subgroups based on their levels of success: "me-llennials" and "mega-llennials."

Center for Generational Kinetics president Jason Dorsey, who researches Millennials, told Business Insider that life paths and financial status may be a better indicator of the differences in members of this generation than the years they were born. According to him, the first group feels behind in their careers and other areas of adult life, while the second group feels right on track.

For the first group, he coined the term "me-llennials." These are Millennials who fit the common narrative surrounding the generation: They're dealing with stagnant wages and career paths, unaffordable housing, and mountains of student loan debt. The homeownership rate of Millennials today is 8 percent lower than that of Baby Boomers at the same age. National student loan debt, meanwhile, reached a record high of $1.5 trillion in 2019.

Millennials belonging to the second group are at a much different place in life. These so-called "mega-llennials" manage their bills, feel satisfied with their careers, and are overall more financially stable than other members of their generation. For these reasons, mega-llennials may not relate to the typical millennial experience that's often reported.

These trends indicate that the story of Millennials' progress is more complicated than it may seem. While the combination of steep bills and low wages may be worse for young people today than it was for older generations, the Millennials who aren't dealing with those hardships have an even greater advantage over their peers. The gap between these subgroups will only get wider: Millennials are set to inherit trillions in wealth over the coming decades.

[h/t Business Insider]

Amazon's Under-the-Radar Coupon Page Features Deals on Home Goods, Electronics, and Groceries

Stock Catalog, Flickr // CC BY 2.0
Stock Catalog, Flickr // CC BY 2.0

This article contains affiliate links to products selected by our editors. Mental Floss may receive a commission for purchases made through these links.

Now that Prime Day is over, and with Black Friday and Cyber Monday still a few weeks away, online deals may seem harder to come by. And while it can be a hassle to scour the internet for promo codes, buy-one-get-one deals, and flash sales, Amazon actually has an extensive coupon page you might not know about that features deals to look through every day.

As pointed out by People, the coupon page breaks deals down by categories, like electronics, home & kitchen, and groceries (the coupons even work with SNAP benefits). Since most of the deals revolve around the essentials, it's easy to stock up on items like Cottonelle toilet paper, Tide Pods, Cascade dishwasher detergent, and a 50 pack of surgical masks whenever you're running low.

But the low prices don't just stop at necessities. If you’re looking for the best deal on headphones, all you have to do is go to the electronics coupon page and it will bring up a deal on these COWIN E7 PRO noise-canceling headphones, which are now $80, thanks to a $10 coupon you could have missed.

Alternatively, if you are looking for deals on specific brands, you can search for their coupons from the page. So if you've had your eye on the Homall S-Racer gaming chair, you’ll find there's currently a coupon that saves you 5 percent, thanks to a simple search.

To discover all the deals you have been missing out on, head over to the Amazon Coupons page.

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Here's How Much Money You Need to Earn in Each State to Afford a Home

The keys to your own kingdom.
The keys to your own kingdom.
PhotoMIX Company, Pexels

By this point, it’s well-known that American Millennials are much slower to buy homes than Baby Boomers were at their ages. While certain cultural changes have contributed to this trend—people are waiting longer to get married and have children, for example—the most common reasons to continue renting ad infinitum are financial. In other words, it’s especially hard to afford a house these days. That said, residents of some states have it easier than others.

According to a study by The Cost Guys, West Virginians only need to make $26,393 a year to become homeowners—the lowest of any U.S. state. In general, Appalachia, the Midwest, and the South are good places to live if you have your heart set on pocketing keys to your own tiny kingdom; in Alabama, Arkansas, Kentucky, Mississippi, and Oklahoma, you can feasibly afford a home on an annual salary below $40,000.

The West is expensive.The Cost Guys

If you live in Hawaii, on the other hand, you might end up renting for the long run; that is, unless you earn $152,676 per year (or more). Parts of the continental U.S. put up similarly high stats: Californians need to earn at least $136,600 to set up shop, and inhabitants of Colorado, Washington, New Jersey, Massachusetts, and Washington, D.C. all need more than $100,000.

To come up with these figures, The Cost Guys worked off the widespread assumption that about 30 percent of your annual earnings will go toward your home—which includes mortgage, insurance, property tax, and down payment—and used median real estate values from Zillow to calculate how much that percentage would amount to.

If you’re feeling discouraged by the high price tags on homeownership, it’s worth noting that there’s plenty of room for variation. Maybe you find a home listed for much less than your state’s median value, or maybe you can negotiate a deal for a much smaller down payment than 10 percent (which is what The Cost Guys used for their analysis). There’s also the possibility that you’re able to budget a little more than 30 percent of your income toward housing costs.

You can explore more detailed info and data here.