When it comes to finance, a lot of people have a lot of ideas on the best way to manage your money. Some people advocate for investing while others insist on saving, and to make matters even more complicated, there are countless apps, programs, and software available to help you keep track of every aspect of your finances. From tracking how much money you spend each month on coffee to helping you build a visual budget and more, there are apps available for every aspect of the financial process. And while they’re great, all of these apps are lacking in one major thing: a way to get people to stick to their plans. You can have all of the best planning and best advice in the world, but what it comes down to is the person him-or-herself, and their lifestyle and habits.
This holds especially true for the Millennial generation. As a whole, their spending habits continue to perplex and frustrate those who are trying to figure them out. Not only would they rather spend their money on travels and experiences than material things, but they view money itself differently than previous generations. This means that we need to find new ways to communicate with Millennials about finance.
That’s what the Dow Jones was hoping to accomplish with the release of its new Millennial finance website, Moneyish.
Moneyish, as Raakhee Mirchandani, Dow Jones content editor, said, is “not personal finance… it’s personality finance.” Rather than bombarding users with current financial news, constant tips on personal finance, and the best ways to invest your earnings, Moneyish instead turns its focus towards the culture and atmosphere of money and the thoughts and feelings we have surrounding it.
Rather than discussing the current state of global finance through the eyes of financial leaders and politicians, Moneyish talks about various aspects of the financial world by tying in aspects of popular culture and presenting interesting information that also sheds a light on how the people of the world are spending their money. While Forbes features articles like The Costly Bonus Season Mistake and Wanda’s $1 Billion Acquisition Of Dick Clark Productions Falls Through, Moneyish tends to highlight pieces of interest to the Millennial generation like Would you pay $25,000 for this taco? and Inside the $100,000 Hollywood preschool wardrobe.
While these stories may not be hard hitting news, they open the discussion for Millennials to talk about how they spend their money and how they see others doing the same.
The launch of Moneyish will mark the second digital property released by Dow Jones following the success of the 2015 launch of Mansion Global, a Luxury Real Estate Portal. Although the site is backed by Dow Jones, it seeks to target the Millennial audience which is a much different audience than it typically caters to.