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I'm 33 and by the time my friends and I were 25 (if not younger) they either had their own apartment or had bought a house (we bought our first one when i was 21).
None of them drove fancy cars. I think the 'fanciest' any of us had back then was a honda civic 2 door that my friend Krista had... LMAO
Wanted to see how many of you know people likes this, I am a 25 y/o male I live on my own (Own a condo) and do pretty well for myself, but alot of my friends around my age and some even older 28-30 Instead of saving or choosing to live on their own they stay with mom and dad and almost every bit of their salary goes towards paying for a $40,000-$50,000 car and they are just content to continue living at home rent free as long as they can spending 60% or more of their income on their car and as far as saving money their lucky if they even have $50 bucks left in their account by the end of the month. Just kind of a rant here I wanted to know the logic behind this and also see how many of you out there know people like this.
You are smart, your friends are not. I wish I was smart like you 10 years ago..
You are smart, your friends are not. I wish I was smart like you 10 years ago..
Thank you its tough sometimes being 25 but feeling more like 35, because also with most of my friends I like to do just chill things like movies, bowling or nights at home and all my friends idea of a good time is still "lets go out and drink till were stupid"
In all honesty, a lot of the parents of my generation didn't do their kids any favors. The 20 somethings now don't ever want to leave the nest and why should they? I've actually had friends who's kids told them they didn't ask to be born and it's the parents responsibility to support them FOREVER.
It took an economy melt down for the kids to realize their parents no longer had any money to support themselves let alone the kids... and the kids had no choice but to grow up....
Wanted to see how many of you know people likes this, I am a 25 y/o male I live on my own (Own a condo) and do pretty well for myself, but alot of my friends around my age and some even older 28-30 Instead of saving or choosing to live on their own they stay with mom and dad and almost every bit of their salary goes towards paying for a $40,000-$50,000 car and they are just content to continue living at home rent free as long as they can spending 60% or more of their income on their car and as far as saving money their lucky if they even have $50 bucks left in their account by the end of the month. Just kind of a rant here I wanted to know the logic behind this and also see how many of you out there know people like this.
Often the young make bad choices by not having their priorities in order.
Sadly, way to many young people are simply not mature enough to make the most of their youth often frittering away the day.....playing with expensive toys and habits.
This is a case where I admire the Israelis since all young people MUST serve in the military or at humanitarian service for two years out of their High Schools. Two years to grow up and mature in the company of accountability ,and mentoring, from adults not their parents.
-A lot of it is the schools. They were a sham for this generation. What kind of education did this generation get in math, computing interest, etc? Not a very good one. The dumbing down of math. "New math". What does the average 18 year old know about finance, interest, how much they can afford? Very little.
Consumer finance is more of a scam now than it was in the baby boomers time. The baby boomers weren't paying 30% interest on credit cards. A little bit of common sense would go a long way. Cut that $50 k car down to $25 k, save the difference, invest at 8-10%, and look how the tide turns.
-There's a general lack of responsibility in the culture. Look at the housing boom and how many people want to walk away from their mortgages. You didn't have that in the 60's and 70's in such large numbers.
And plus, many don't really have to leave home by a set time. The previous generation left home because of....lack of opportunity, lack of comfort, lack of conveniences to do things at home (computer, laptop, etc). Now, with a bigger home, more comfort, why suddenly leave home?
-Plus things are so babied and remedial for people under 25. Something like 70% of community college students have to take remedial classes now? The schools don't force you to accept accountability. Too much self esteem, passing people that shouldn't. Too much summer school.
I blame my parents for letting me get away with this sort of behavior when I was younger.
basically I was living at home, making a good living but spending all of my money.. not paying rent, etc. oddly enough, any time i talked about moving out they told me it was a bad idea.
they did nothing to guide me in a better direction, curb my spending on expensive pointless things (e.g. a 30k car), etc.
-A lot of it is the schools. They were a sham for this generation. What kind of education did this generation get in math, computing interest, etc? Not a very good one. The dumbing down of math. "New math". What does the average 18 year old know about finance, interest, how much they can afford? Very little.
Consumer finance is more of a scam now than it was in the baby boomers time. The baby boomers weren't paying 30% interest on credit cards. A little bit of common sense would go a long way. Cut that $50 k car down to $25 k, save the difference, invest at 8-10%, and look how the tide turns.
-There's a general lack of responsibility in the culture. Look at the housing boom and how many people want to walk away from their mortgages. You didn't have that in the 60's and 70's in such large numbers.
And plus, many don't really have to leave home by a set time. The previous generation left home because of....lack of opportunity, lack of comfort, lack of conveniences to do things at home (computer, laptop, etc). Now, with a bigger home, more comfort, why suddenly leave home?
-Plus things are so babied and remedial for people under 25. Something like 70% of community college students have to take remedial classes now? The schools don't force you to accept accountability. Too much self esteem, passing people that shouldn't. Too much summer school.
I'm a boomer, too -- and my schooling didn't teach me any of this.... my PARENTS did. You learned this stuff at your parents knees. My parents were savers, hubs parents were savers and we are savers. Friends of mine? Parents spent every dime they could, and so do they.
This is for the ones still living at home and having a good time being with the family, etc.
Who does your laundry?
Changes your sheets?
Sweeps under your bed?
Washes your dishes when you eat at home?
Pays for your hot water, lights, heat?
etc.etc.etc.
If you do all these things yourself, WONDERFUL! Otherwise, it's time to grow up and give your folks a break.....that is unless they can afford to hire people to do all these things for you.
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