As Canadian Millennials, we work hard for our money, and we like to go out and enjoy it too. From fancy gym memberships and cold-pressed juice habits, to going out for food and drinks at some of the best restaurants in town multiple times a week, it’s clear that most of us would rather use our salaries to celebrate, rather than save. I mean, YOLO – right?
But our frivolous ways do come at a cost, and a recent TD survey found that almost half (46%) of Canadian Millennials aren’t taking their full allotment of vacation days, despite the fact that 90% of those surveyed say that vacation time (even mini-vacations or “staycations”) is essential to keeping them happy. TD says taking time to recharge doesn’t have to be an expensive endeavor like a destination vacation. Lower cost options like a staycation can be easier to budget for and can offer a stronger ROE or Return on Enjoyment.
So what’s holding us back from taking as much vacation as we should be? Apparently, the reasons include a heavy workload (31%) and not being able to afford travel (29%). Sounds about right, doesn’t it?
As a busy millennial and entrepreneur, I can certainly relate to feeling overwhelmed by my workload and finding it hard to find the funds to put towards vacations. But the reality is, taking time off is essential to all of our mental-well being, and it can be easier to save than we think, especially when we have the right financial plan to help us fund life’s pleasures. Seriously, you’ll be amazed by just how much you can save at the end of the month simply by cutting out that daily 4 o’clock almond milk latte!
And I’m not the only one who believes taking time off is healthy. Just take a look at some of these insights from Hellen Buttigieg, the life coach and founder of We Organize U. Hellen says:
- Millenials often set high expectations for themselves when it comes to professional advancement, but it’s important for them to recognize that taking time off can actually benefit their work life.
- Making time for yourself can help boost productivity and makes employees better equipped to handle challenging tasks, clients or colleagues.
- Maintaining a work-life balance is essential to one’s health and well-being – to avoid the anxiety that comes with leaving a heavy workload behind, book time off during slower periods and space out the days throughout the year.
- Relaxing also looks different to everyone – whether you want to invest in a new hobby that can be experience time and again or plan a getaway, what’s essential is to take a break, refresh, and invest in some much-need time for yourself.
So when you’re tired, cranky and stressed out, you’re actually not doing anyone any favours by not taking time off. That doesn’t have to mean jetting off to the Bahamas for ten days, but it could be something as simple as taking a long weekend just because, or finding that new activity that helps you relax. For me personally, that’s doing Hot Yoga on the weekends which I consider my personal meditation and time to escape – with no talking or phone for a whole 90 minutes! Bliss!
For more information on how you can start saving for your next vacation, staycation or hobby, visit your local TD Branch to begin the new financial plan that will hep you find your work-life balance.
*Please note this post has been brought to you in partnership with TD Bank, all thoughts and opinions my own*
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