- 249
- 44
- Joined
- Jul 26, 2002
The writing's been on the wall for a while now. There was an article a while ago that Milleniels are buying more luxury cars while also carrying increased amounts of student and consumer debt. At some point, our generation will learn one way or another. Unfortunately for now we aren't learning that the best way to build wealth and financial security is to be debt free and live within your means.
While we (millennials) are definitely strapped with more student debt than our parents, we have way more resources to self-teach money management. The bottom line is that a small percentage of people care about/ budget their finances for the future, and the majority of people live month to month - being gen x or millennial has no direct effect on this.
I've been telling my friend that makes roughly $80k per year to buy Nike stock each month with some of his extra cash (up 30% last year) instead he bought a Lexus RC350. Dope car, but its gonna cost him $700 a month for SIX YEARS. People will be people.