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If the average debt is only $28,000, that's nothing. Get a GD job and try the novel concept of paying it off.
The problem is do jobs pay enough to cover that debt? I can tell you the answer, too many of these "GD jobs" do not. They barely pay a livable wages and it doesn't depend where they live.
There's definitely some truth to millennials indulging on higher quality foods and products than past generations. I grew up middle class but my parents always bought the cheap stuff and never said you should wear fancy clothing or eat fine dining. Whenever my parents were invited to fancy places they always said you should eat at these places only a few times in your life.
Fast forward now, I go to some of the best restaurants in NYC which used to be frequented by boomers and business people. Now you see lots of young millennials at fancy places because of the youtube generation everyone wants to eat at a 3 Michelin star place.
Millennial have to drive Tesla, Acura, or BMW and they refuse to work on their own car. A 26 yr old showed me his new car and he has a scheduled oil change with BMW, I said I could've changed that with him out in the parking lot. He insisted on having BMW change the oil.
Very few young people today cook at home or eat simple meals. It has to be some fancy delivered custom meals or Door Dash the food. Just look around at the office and how many young people really bring food from home..
There's definitely some truth to millennials indulging on higher quality foods and products than past generations. I grew up middle class but my parents always bought the cheap stuff and never said you should wear fancy clothing or eat fine dining. Whenever my parents were invited to fancy places they always said you should eat at these places only a few times in your life.
Fast forward now, I go to some of the best restaurants in NYC which used to be frequented by boomers and business people. Now you see lots of young millennials at fancy places because of the youtube generation everyone wants to eat at a 3 Michelin star place.
Millennial have to drive Tesla, Acura, or BMW and they refuse to work on their own car. A 26 yr old showed me his new car and he has a scheduled oil change with BMW, I said I could've changed that with him out in the parking lot. He insisted on having BMW change the oil.
Very few young people today cook at home or eat simple meals. It has to be some fancy delivered custom meals or Door Dash the food. Just look around at the office and how many young people really bring food from home..
Are they from well to do families?
Many of us do work on our own cars. Like changing brakes/oil etc.
Besides don’t you need a special certification for BMW?
On top of that, who’s to say those people eat there all the time?
And many of us don’t care too much for fancy cars. Only one friend I know has like 2 bmw, but he does come from a more well to do family. Everyone else either has no car or drives a clunker.
Social media? lol They just weren't raised well enough when it comes to finances.
YOUR article said the millennial carry less debt than the generation before them.
And, IF they weren't raised well, why not hold the parents generation responsible?
Stones, glass houses and all that.
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I rarely see millennials in anything except ultra-lavish luxury cars.
Amazing, how millennials which a vast majority insist on only the best have similar debt-burdens as baby boomers who for the most part own their homes free and clear and a majority of big pensions or 401k.
A vast majority of millennials have not even started a family yet as most are in their mid 20s to early 30s but many, many will have an average of 2 kids each in the next decade as ultimately only a tiny percentage of people don't have children by the time they are 45.
College students seem to live very, very peer-pressured social media lifestyles. Many are leveraging a fortune in the last year or two because many think Elizabeth Warren or Bernie Sanders will forgive every penny of the debt from their celebrity-like lavish lifestyles in college.
I would venture to guess that many millennials daily food and coffee budgets are similar to what people of the same age group spent each month for food.
I have noticed that around many college campuses there are very few students biking, walking or taking transit. Most have late-model luxury vehicles.
Amazing, how social media has caused such a tremendous consumerist spending spree.
You keep flipping between millennials (mid 20s to turning 40 this year) to college students. Your post is very incoherent and not focused at all. I’m a millennial, most people I know in my age group either rely on public transit or drive economy cars. I don’t use social media personally, I know it can sometimes be a pissing contest, really not much different than boomers buying their McMansions in the suburbs to get into a pissing contest with their friends and acquaintances.
I rarely see millennials in anything except ultra-lavish luxury cars.
Amazing, how millennials which a vast majority insist on only the best have similar debt-burdens as baby boomers who for the most part own their homes free and clear and a majority of big pensions or 401k.
A vast majority of millennials have not even started a family yet as most are in their mid 20s to early 30s but many, many will have an average of 2 kids each in the next decade as ultimately only a tiny percentage of people don't have children by the time they are 45.
College students seem to live very, very peer-pressured social media lifestyles. Many are leveraging a fortune in the last year or two because many think Elizabeth Warren or Bernie Sanders will forgive every penny of the debt from their celebrity-like lavish lifestyles in college.
I would venture to guess that many millennials daily food and coffee budgets are similar to what people of the same age group spent each month for food.
I have noticed that around many college campuses there are very few students biking, walking or taking transit. Most have late-model luxury vehicles.
Amazing, how social media has caused such a tremendous consumerist spending spree.
And baby boomers average non-mortgage debt is 25, 1876....given that boomers have had lots more time to pay off school loans etc.....the fact it is only nominal smaller than milenials --- well it just shows your feelings are all wrong once again.
You really need to work a little harder at this...
Many of us do work on our own cars. Like changing brakes/oil etc.
Besides don’t you need a special certification for BMW?
On top of that, who’s to say those people eat there all the time?
And many of us don’t care too much for fancy cars. Only one friend I know has like 2 bmw, but he does come from a more well to do family. Everyone else either has no car or drives a clunker.
They must be from well to do families. I don’t know many people who could afford to live in NYC, much less frequent Michelin 3 star restaurants. You can change the oil on pretty much any car, sometimes you do need to buy a special part to remove the oil filter though. I do all of the work on my car and I have worked on beemers before.
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