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The world is full of parents who upgrade their "dining room sets" on credit. It seems useful to have actual classes, not have parents pass along their ignorance.
It's tougher to move out at a young age compared to generations past. The boomers could graduate HS and have a union factory job which paid enough to put down a payment on a house. Today, kids have to spend years and years in the university system racking up debt and still may not make a living wage. In the time of the boomers a college degree holder was a rarity, and if you had one companies would offer you generous wages and benefits package. Now you see job ads for $12 an hour requiring a bachelors. You can't live on that kind of money comfortably anywhere in the country.
It's tougher to move out at a young age compared to generations past. The boomers could graduate HS and have a union factory job which paid enough to put down a payment on a house. Today, kids have to spend years and years in the university system racking up debt and still may not make a living wage.
They don't have to do that. If their mindset was the same as somebody decades ago, they would take that factory job early, earn and save enough money for a down payment on a house (in an area that they could afford to live in) and do that. I have met some that do. Then there are those that instead CHOOSE racking up debt at a university.
I disagree with the bolded. Once people live with a partner, it makes less sense, financially, socially, and emotionally, to continue being with parents.
Definitely, but what if you don't have a partner? It makes sense to cut bills as many ways as possible then.
Quote:
Originally Posted by RbccL
They don't have to do that. If their mindset was the same as somebody decades ago, they would take that factory job early, earn and save enough money for a down payment on a house (in an area that they could afford to live in) and do that. I have met some that do. Then there are those that instead CHOOSE racking up debt at a university.
You aren't going to get that factory job these days without prior experience and training. They're not going to train you. Even if you did, many low skill manufacturing jobs are now run through temp agencies - in my area, that's generally $10-$12/hr with no benefits. With a $10/hr job, how are you going to save for a downpayment on a house, even in a low cost of living area? You might qualify for a $60,000 house. That's a trailer here, and I live in northeast TN.
They don't have to do that. If their mindset was the same as somebody decades ago, they would take that factory job early, earn and save enough money for a down payment on a house (in an area that they could afford to live in) and do that. I have met some that do. Then there are those that instead CHOOSE racking up debt at a university.
What factory job? There are factory jobs where you live?
What factory job? There are factory jobs where you live?
Geez! I'm not one of you guys who just says stuff without any experience or facts.
There is a warehouse where I used to live, in Northern MN, 2000 employees. The starting pay I believe is $16 an hour, when I left I was getting paid $20 an hour, with opportunities for OT, and almost free benefits. And yes I could have saved enough for a down payment for a home if I wanted to live in a small town. They hired most right out of high school.
If you need more information DM me.
Why do people think previous generations had it easier? WTF? There were difficulties in the 80s and 90s too.
You can still get a self supporting job without a college degree today. Neither my husband nor I have college degrees, yet we have the household income of those that do. You either have the drive to succeed or you don't. Both of us started on the ground floor making beans. My husband started in the mail room for goodness sake and is now a solution architect in an F500 company. I started as a floater in a law firm making $24k (in NYC of all places). In fact, when I purchased my condo, my salary on paper was barely $30 something thousand dollars (though my overtime bolstered that figure by a lot). Suffice to say I make much more than that now in a lower cost of living state.
If anything, our kids have it easier than us. They live in relative affluence, whereas my husband and I had more modest beginnings. One of the things that's paramount to me is instilling a work ethic into them and not thinking that the world owes them a living, or expecting big things just because. My mother didn't have to deal with entitlement because I understood from early on that money doesn't fall from a tree. Our kids are grateful and really great kids, but my eldest daughter just doesn't have that motivation for independence that I had and I guess I don't blame her. She has a nice life, surrounded by loved people, and lives in a nice house. I'm not going to kick her out once she's 18 years old. But I just notice the difference between me and her. Her sister, on the other hand, has shown an independent streak early and I fully expect her to be out of the house as soon as she can. She'll probably work two jobs if she has to and live with a roommate before she moves back in to our house.
Geez! I'm not one of you guys who just says stuff without any experience or facts.
There is a warehouse where I used to live, in Northern MN, 2000 employees. The starting pay I believe is $16 an hour, when I left I was getting paid $20 an hour, with opportunities for OT, and almost free benefits. And yes I could have saved enough for a down payment for a home if I wanted to live in a small town. They hired most right out of high school.
If you need more information DM me.
No factories where I am at.
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