Millennials and Gen-Zers are pulling in bigger paychecks, but much of their spending power is fueling short-term purchases like groceries and vacations, not savings - eviltoast
Young adults are getting used to living on a financial cliff
www.nbcwashington.com
Many young people came of age between two recessions, a pandemic and crushing student loan debt.
  • Worx@lemmynsfw.comEnglish
    58·
    8 months ago

    I hate the rhetoric of including groceries and vacations as if they’re the same. People don’t ‘waste money’ on food. They buy food because you need it to live

    • I_Fart_Glitter@lemmy.world
      11·
      8 months ago

      When I was making about $1400 a month I made a spreadsheet with prices of staple foods from four grocery stores in my area and went to all four on a regular basis to get the best price on each thing. Now that I make substantially more than that I “waste” about $400-$500 per month by only going to one store and buying everything I need. I still feel guilty about it sometimes.

  • karashta@kbin.social
    591·
    8 months ago

    How dare we want to… checks notes … Eat food and experience some of life before we MAYBE live until we are 70

    • mommykink@lemmy.world
      411·
      8 months ago

      Had a conversation with my friend the other day about this. Why should I be putting away 20% or more of my income and make myself miserable for the years when I’m healthy and fit, just for the chance of being able to be financially comfortable when I’m old?

      Our bodies are full of microplastics. The earth is getting hotter than ever year after year. Right-wing authortianism is on the rise across the globe. This isn’t a cry for help, but I genuinely don’t plan on living that long.

      • Deceptichum@sh.itjust.worksEnglish
        211·
        8 months ago

        If I expected to have a future I’d probably save for it, but I’ll never afford a house, be able to raise a family, and will spend my last years working until I’m 90 paying some landparasite most of my pay check.

        Might as well enjoy what time I have and go out guns blazing in my 60s.

        • knightly the Sneptaur@pawb.social
          7·
          8 months ago

          I’m lucky, I have a tech job and might actually be able to pay off my mortgage if I can live to 65.

          I’m still working paycheck-to-paycheck though. There’s literally no room in the household budget for vacations or retirement savings.

  • AlternatePersonMan@lemmy.world
    40·
    8 months ago

    I was just talking about this. The amount I spend on groceries for a small family is insane. It has doubled in less than five years. My income has not.

  • Zorsith@lemmy.blahaj.zoneEnglish
    24·
    8 months ago

    Who tf can afford a vacation in 2023/2024??? Hell I’d have to be between jobs to even have the time off

    • 1995ToyotaCorolla@lemmy.worldEnglish
      15·
      8 months ago

      my “vacations” are basically for having an extra day or two off. Maybe I’ll go on a day trip to somewhere in the area. It’s not like I’m going to a retreat on a private island or anything

    • Fredselfish@lemmy.world
      8·
      8 months ago

      Now I go on vacation it’s only thing that keeps me from going fucking crazy. It expensive but goddammit I am going.

      Also only reason stay at this shitty job because of three weeks of vacation I get. If I didn’t get that I would quit.

    • ArumiOrnaught@kbin.social
      6·
      8 months ago

      I went to visit a friend a few states over for their wedding. They let me stay at their place for a week. For the time off I work union :D

    • DLSantini@lemmy.ml
      6·
      8 months ago

      Doing that as we speak. My job was shit, so I’m moving back to an old also-shit-but-slightly-less-shit job. I don’t start back at my old job for another week or two, and had originally planned to keep working the currently one until then. But I got fed up with bullshit and stopped going a few nights ago, and am now enjoying a two-week unpaid “vacation”.

  • Lucidlethargy@sh.itjust.works
    11·
    8 months ago

    How do I sign up for a higher paycheck? I don’t really know anyone who’s paycheck has, actually gone up when weighed against inflation.

    • Krauerking@lemy.lol
      2·
      7 months ago

      I’m on like 3 years running of no raise and my SO got one 4 days before being laid off after 3 years of no raises.

  • Binthinkin@kbin.social
    8·
    8 months ago

    Nothing new. This is the same shit since Bush was around. Keep the millennials and their children held back as much as possible so all the rich kids can steal everything.

    NOTHING NEW.