A recent article by Time Money interviews "financial blogger Jason Vitug," who "explains how millennials can break the mold by becoming financially savvy." Vitug says that "social media has made it difficult for millennials to live within their means," thus it is important to take a step back and really consider your financial situation, particularly if you'd like homeownership to be a part of your future.

Here are Vitug's Three Tips: 

1. Define your lifestyle - "determine what lifestyle you would like to live and stick to it."

2. Don't try to keep up with the Joneses - "don't expect to be able to keep up with other people's lifestyles...while living yours." 

3. Money can indeed buy happiness - "money provides the basic needs. For example, without money you wouldn't have basic necessities such as food, housing, and transportation."