Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Economics > Personal Finance
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 01-15-2015, 06:37 AM
 
24 posts, read 62,691 times
Reputation: 62

Advertisements

My kids, who are in their 20s, don't think twice about spending $25 for lunch or $50 for dinner on a regular basis. If they go out to lunch they always have to get an appetizer, the main course, a desert and a few mixed drinks or beers. They don't think that is expensive or extravagant. That is just what all their friends spend.

Then if they go out to a bar on Saturday night, they don't think spending $50 on a cover charge and alcohol only is that unusual or extravagant. $12 drinks and a cover charge. That is what all their friends do.

Back when I was their age, we did not have access to credit cards and it was more painful to pull money out of our wallet, so we spent less, adjusted to inflation.

The younger generation is just use to spending lots of money with friends when they leave the house. Agree?
Reply With Quote Quick reply to this message

 
Old 01-15-2015, 06:41 AM
 
Location: Mount Laurel
4,187 posts, read 11,899,952 times
Reputation: 3513
Quote:
Originally Posted by The Investor View Post
My kids, who are in their 20s, don't think twice about spending $25 for lunch or $50 for dinner on a regular basis. If they go out to lunch they always have to get an appetizer, the main course, a desert and a few mixed drinks or beers. They don't think that is expensive or extravagant. That is just what all their friends spend.

Then if they go out to a bar on Saturday night, they don't think spending $50 on a cover charge and alcohol only is that unusual or extravagant. $12 drinks and a cover charge. That is what all their friends do.

Back when I was their age, we did not have access to credit cards and it was more painful to pull money out of our wallet, so we spent less, adjusted to inflation.

The younger generation is just use to spending lots of money with friends when they leave the house. Agree?
No necessary. I have plenty of friends with their kids in the 20s and they certainly don't spend like the way you are describing.
Reply With Quote Quick reply to this message
 
Old 01-15-2015, 06:45 AM
bUU
 
Location: Florida
12,077 posts, read 10,680,765 times
Reputation: 8798
Quote:
Originally Posted by The Investor View Post
The younger generation is just use to spending lots of money with friends when they leave the house. Agree?
I agree that that statement was also made by our parents' generation about us, and almost surely was made by their parents' generation about our parents. The mechanisms may have changed, but the relationship between the generations and the respective generations' perceptions of each other, haven't.
Reply With Quote Quick reply to this message
 
Old 01-15-2015, 06:47 AM
 
Location: southwestern PA
22,430 posts, read 47,411,742 times
Reputation: 47723
"Young people in their 20s don't understand how expensive everything is "

Plenty of them understand!
And because they are among those who understand, my kids spend nowhere near like your kids do.

And even YOUR kids know the expense... I mean, they ARE paying for it, right?
Why is this an issue for you?
I feel I have no say about how my kids spend their hard-earned cash.Do you feel differently?
Reply With Quote Quick reply to this message
 
Old 01-15-2015, 06:50 AM
 
24 posts, read 62,691 times
Reputation: 62
Quote:
Originally Posted by Pitt Chick View Post
"Young people in their 20s don't understand how expensive everything is "

Plenty of them understand!
And because they are among those who understand, my kids spend nowhere near like your kids do.

And even YOUR kids know the expense... I mean, they ARE paying for it, right?
Why is this an issue for you?
I feel I have no say about how my kids spend their hard-earned cash.Do you feel differently?
I care because I am their father and they always complain about being broke and ask for money now and then. When I try to give them advice they tell me all their friends spend that type of money when they go out and it is required to be part of the group.

Last edited by The Investor; 01-15-2015 at 07:04 AM..
Reply With Quote Quick reply to this message
 
Old 01-15-2015, 06:52 AM
 
Location: southwestern PA
22,430 posts, read 47,411,742 times
Reputation: 47723
And do you give them money, or do you show them how to budget, live within your means, etc.
Reply With Quote Quick reply to this message
 
Old 01-15-2015, 07:05 AM
 
Location: New York
1,098 posts, read 1,243,090 times
Reputation: 1073
Money comes from work...go get a job! This is a lesson you can teach at the early age of 3 years old.
Reply With Quote Quick reply to this message
 
Old 01-15-2015, 07:58 AM
 
Location: NY
9,131 posts, read 19,947,658 times
Reputation: 11706
These sound like kids who did not learn the proper value of money growing up, and as such do not have an appreciation for how to spend responsibly now.
Reply With Quote Quick reply to this message
 
Old 01-15-2015, 08:20 AM
 
Location: ATL & LA
986 posts, read 1,858,725 times
Reputation: 1598
As long as they are making their own money and spending their own money, and not getting any handouts from their parents, what they do with their money is their business. They're young and they'll learn, but only if mom & dad don't bail them out when they run out of money!
Reply With Quote Quick reply to this message
 
Old 01-15-2015, 08:25 AM
 
18,533 posts, read 15,514,456 times
Reputation: 16214
Quote:
Originally Posted by The Investor View Post
My kids, who are in their 20s, don't think twice about spending $25 for lunch or $50 for dinner on a regular basis. If they go out to lunch they always have to get an appetizer, the main course, a desert and a few mixed drinks or beers. They don't think that is expensive or extravagant. That is just what all their friends spend.

Then if they go out to a bar on Saturday night, they don't think spending $50 on a cover charge and alcohol only is that unusual or extravagant. $12 drinks and a cover charge. That is what all their friends do.

Back when I was their age, we did not have access to credit cards and it was more painful to pull money out of our wallet, so we spent less, adjusted to inflation.

The younger generation is just use to spending lots of money with friends when they leave the house. Agree?
Every generation has some big spenders, some frugalites, and lots of in-between'ers.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics > Personal Finance
Similar Threads

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top