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.
The car loan and student loan will be paid off in the next 3-5 years. I'll be mostly debt free by 35, other than mortgage, and have probably over a year's worth of savings. Let's be honest, how many people can say that?
I'm aware of it in ways far beyond the macroeconomic level - or maybe "far below." But when you talk about reducing consumer debt and spending, there's always some Econ 101 disciple* who stands up and says, "But, OMG, that would crash the economy!" To which I always instantly reply, "Yup! ...I guess we'll need a new one."
* "Disciple: someone who got an A in the course but missed the whole point." - Alan Watts
Well the article is actually isn't about reducing debt but getting rid of it. That was my mindset coming in.
This is a pretty neat article recently posted on Forbes revealing the underground (or at least seemingly) movement paying off debt. I guess social media has turned debt paying into a community.
Older millennials definitely have it worse than Gen X'ers and Boomers. Many of us came out of college just as the crash was happening. Couldn't compete for entry level jobs when they were being filled with people who had 4-10 years experience companies could hire at an entry level salary. If we did manage to get hired, our starting salary was lower thus making lifetime earnings lower.
Older millennials definitely have it worse than Gen X'ers and Boomers. Many of us came out of college just as the crash was happening. Couldn't compete for entry level jobs when they were being filled with people who had 4-10 years experience companies could hire at an entry level salary. If we did manage to get hired, our starting salary was lower thus making lifetime earnings lower.
And younger boomers came into the job market in the sucky 1978-1983 window. Boo hoo.
Each generation (and sub-gen, and sub-sub-gen) has its own unique experience... that is a lot less unique if you take one step back and look at repeating history for that age group.
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.
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.
