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My two kids are 27 and 33 years old. They have lots of friends and get together with them nearly every evening after work. Happy Hour and then dinners out. They tell me that most everyone they know who work in professional jobs and don't have kids spend their evenings at happy hour and eating out with friends. At a minimum, they spend at least $1000 a month in these after work social events.
Do you think this is as common with white collar professionals their age who don't have kids?
I spend 0 on eating out or partying and I still can't afford a home.
Don't forget about Uber, I hear those young college kids saying yeah I'm using my parent credit card. I am like why don't parent put this money in a trust or will for a future inheritance.
If someone within that age group has that much disposable income then they probably live at home with their parents, have roommates or they're using their credit cards or store/restaurant credit cards too much. From someone like me within that age group, I think if they live with their parents still especially if they are over 30, then they are never going to leave and reach full adulthood.
Don't forget about Uber, I hear those young college kids saying yeah I'm using my parent credit card. I am like why don't parent put this money in a trust or will for a future inheritance.
who says they are not???
First, I'm not big on inheritances. I hate the entire concept of people believing they are some how "owed" money just because their parents die.
What I find really funny is people will say "set up a trust" and then when a child grows up as a trust fund kid will turn around and called the kid "spoiled or entitled"? lol
My son went to college out of state in Ohio. We got him an American express card on our account. first of all I wanted him to be able to get home easily if crap hit the fan without having to worry if he had enough air fare. Next, it was easier than sending him money and very easy to keep track of his spending.
Now, if it is a dive bar, then yeah you might get a bucket of 5 beers for $15, but I don't think the OP is talking about dive bars.
Thanks for adding your jet-set take. My own take remains that the OP is basically talking through his hat, styling himself as some sort of rakish son-of-the-slopes in the process. The lifestyle he and a few others have suggested here would be more that of some spoiled brat one-percenter trying to burn his way through an inheritance than of actual young professionals in general.
There is a big difference between 25 and 35 for a working professional. 35 is mid-career, while 25 is early career or even grad/professional school for my circle of friends. By 35, many people I know are bringing home a large multiple of the median income for my region of the country.
That being said, $1000 month for eating out is not excessive even in a low cost of living area for someone with an upper middle class income. My students pay almost $1000/month for their university cafeteria meal plans. If someone is buying $1000 worth of bottom shelf well drinks then they might have a problem, but a nice dinner with a date can easily be $200 at a casual but nice restaurant, and it is very easy to run up a few bills on a tab during a happy hour.
My best friend, who is a lawyer and married to another lawyer, was joking about this very topic the other night. He said that the difference between single life and married life was that when he was single he spent $2000 a month at bars but now he spends that same amount on daycare and doesn't have time to go out at all.
One thing that can get a kid into trouble is rich friends. When I was in my early twenties I had rich friends who were constantly taking oversees vacations, eating out at fancy restaurants, and staying at expensive hotels. I was a graduate student making $20K. I fought the pressure to overextend myself and I never let myself get involved in activities I couldn't afford.
Only the numbers have been changed -- to make it all sound more interesting and exciting.
i dont think so. well, it varies. when i was younger and going out more, i remember you would pay $250 for a bottle of absolut vodka when you go out. that was the lowest priced option. i still remember one girl showing up and didnt like absolut so she added another bottle of grey goose. that was probably $350-400 and then she threw in not nearly enough money and left before the check came (and we had almost a whole bottle left over). so if you go out with a group and get a few bottles, it adds up very fast. that doesnt include your dinner beforehand. if you are single and looking to hook up with loose women, you would probably do this multiple times a week which would easily add to $1k a month.
that $250 per bottle was about 10 years ago, its probably a good amount more today.
My two kids are 27 and 33 years old. They have lots of friends and get together with them nearly every evening after work. Happy Hour and then dinners out. They tell me that most everyone they know who work in professional jobs and don't have kids spend their evenings at happy hour and eating out with friends. At a minimum, they spend at least $1000 a month in these after work social events.
Do you think this is as common with white collar professionals their age who don't have kids?
I'm 27 and a white collar worker who doesn't even spend close to $1000 a month going out. It's probably $100 or $200 at most per month on going out. Then again, I don't act like most young folks, I'm aiming to purchase property and settle down soon.
Typical dinner:
Kale aid: $6
Guacamole appetizer: $10
Noodle bowl with shrimp: $19
Pudding dessert: $7
Including a 15% tip that's about $50 for one meal for one person not including if an Uber is involved (for me it usually is as I don't have a car). It's also common for those going out to places they plan on drinking at and don't want to drive and will be out very late.
Do that for only 10 days out of the month and that's already $500 for only the meal.
Do that for half the month (15 days) and that's already $750. What if you treat someone during a few of those meals? Even more money. What if you go to places that are more expensive than this place (this place isn't even expensive)? Easily WAY way more money.
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