Agreed. Moreover, I’d like some more insight in the consumer patterns of Gen Z. A pie chart would be nice including groups like eduction, healthcare, subscription services, entertainment, etc.
I have a feeling, without the data, that a lot of young people are spending way more on novelty and entertainment things than ever before while they’re complaining about not being able to afford things.
I can’t fix people’s narratives. I’m asking for data to illustrate the measurable impact of the economy on people’s personal finance and leisure over the decades.
For one example, to compare 2020 to 1960, what is considered “leisure”, what does that cost, and what percentage of a person’s income is spent on it. I’m not really interested in polls where “Gen Z says they’re struggling to afford a car” because that’s subjective and relative. It’s not at all about questioning their anecdotes; I’m curious what the graph or pie chart looks like over the decades.
I think, and am asking for something to prove me right or wrong simply because I’m curious, that there’s more leisure and luxury available to all people today than ever before. And I feel pretty strongly that the culture of consumerism has grown much stronger over the past 30-50 years making everyone feel like they need to spend more than they were in the first half of the last century.
Productivity Purchasing Power in The United States peaked in the '70s late '60s. The country’s overall productivity sucks today [see below comments]. I believe the numbers show that we’re all spending more of our income than we ever have before. And for those “earning” a salary based on archaic values set decades ago, it’s certainly logical they’d be most hurt by the culture of consumerism that’s so rampant today.
Also, I’d be very interested to compare the graphs to credit card debt over time. It’s too easy to click a button on our phones now to have something charged to a card without the stress of seeing it coming directly out of our checking account. This use of technology, I think, is a real factory for younger people who haven’t grown up learning how to balance a checkbook or the need to save real cash money to make major purchases. The success of services like Mint and Acorn and Chime indicate this isn’t my imagination.
No one likes when someone says your opinion is irrelevant when they’re asking for tangible numbers. I’m well aware that the economy is harder for young adults today. I’m also well aware that most people on the internet are ultra-sensitive and lack reading comprehension. There’s a large segment of the internet that can’t be bothered to read more than headlines and watch ten second TikTok videos. I know younger people aren’t the only ones guilty of this, but I have doubts they’re not the primary culprits.
the conclusion that young adults’ personal spending habits are to blame.
At what point did I ever suggest anything close to a conclusion or blame? But since you didn’t ask, I blame Reaganomics, consumerism, and the deregulation of Wall Street. I blame the exportation of jobs for pennies and the mistreatment of workers. I blame disinterest and carelessness and I blame our value and reward of ownership over generosity. I blame “The New American Dream”.
Can’t you stop whining about being a victim for a moment and consider the implications of studying the history of economic and personal finance patterns to plan for the future? I am utterly bored of the repetitive copy/paste talking points and the whining with zero proposals for a solution other than “the boomers did it to us” and we’re all out of ideas.
Look at the real historical data. Present hard evidence and propose how the country is doomed for economic turmoil in ten to twenty years. A couple of charts and anecdotal polls aren’t going to push congress to do anything. No one cares if you can’t afford to buy a car when the economy says people are loaded with money right now. I mean, General Motors just had their best year since 2019 so they don’t care if young people aren’t buying cars. So prove them wrong. I want to prove them wrong - why don’t you?
This is what I mean by you can’t fix people’s narratives. You’re blinded by your grief. No one is saying it’s your fault. You, like the boomers before you, are so self-centered that, unless you get your faces out of your screens and fix this shit, you’ll end up being responsible for a country worse than it’s ever been (slavery aside / if it makes it through this election cycle). I’m absolutely terrified for future generations.
I really don’t get it. I don’t get all the stories and anecdotes and complaining yet no one has provided a full story of the reality of personal finance over the decades. Maybe this does exist and I just don’t know it - it’s probably paywalled. But it seems that without it, this “discussion” exists to divide us and generate clicks and ad revenue and political and corporate control. It’s bullshit.
Hi! My less-than-10-year-old has their own iPad (registered under my apple id) and wants to be able to “text” with the rest of the family. Most of us are not Apple people though: Android phones, using some combo of SMS, Discord, and Signal. The little one doesn’t have a phone, so I think that prevents us from signing them...
It’s mind boggling how anyone could possibly consider otherwise. Aside from your own life, there’s nothing more belonging to oneself than their thoughts.
Gen Z is choosing not to drive (www.newsweek.com)
What non-SMS non-Apple app can I use to "text" my younger kid on their iPad
Hi! My less-than-10-year-old has their own iPad (registered under my apple id) and wants to be able to “text” with the rest of the family. Most of us are not Apple people though: Android phones, using some combo of SMS, Discord, and Signal. The little one doesn’t have a phone, so I think that prevents us from signing them...
Amazon and Tolkein Estate force author to destroy all copies of his work. Only pirated copies will survive. (variety.com)