quote:

Originally posted by Voshterkoff:

Housing and tuition costs are seriously inflated compared to prior generations.

I don't find this true if going to in state college. I've worked since I was 10 years old and have taken care of myself since 5 years old. I graduated college in 2002 and didn't start when I was 18...started when I was 23 or so. Junior college for the first 2 years was affordable and completing my undergrad at our state school university wasn't cheap but it was doable. I keep reading over and over again how much school costs today and have to laugh. I worked my entire college life, full time. And I'm about to start grad school as well, and not seeing the ridiculous costs people keep mentioning and my graduate program is very well respected. I guess if you are wanting to go out of state, pay out of state tuition, live on campus, and not work full time, yeah I could see college being very expensive. So instead, go local, get your basics done at junior college, transfer, and work while you are at your 4 year university. I hustled, took a big pay cut during my 5 years in school for 2 degrees. I was running my own business prior to college and had to take a big pay cut during to start working in my field of study. It wasn't fun, but it was doable. But I wasn't buying a thousand dollar phone every year, a new computer every year, didn't drive a new car, didn't go out to eat, and watched my money like a hawk. I even managed to move up in my new career during college and got my employer to tuition reimburse 70% of my tuition the last 1.5 years of my 2nd degree.

I had multiple out of state academic scholarships but when analyzing the mandated dorm room stay the first 2 years at both, the cost, etc, said fuck that, and did it on my own locally because I knew it would be much less debt. I graduated with 2 degrees and had 17k in loan debt. Not understanding all the school debt loan issues I've talked to youngsters and asked their story. In each case, if they even worked, it was some buster job, and they worked minimal hours. Going to the school of their choice, and having a social life were more important to them then busting ass. You get what you get. There wasn't social media apps when I was in college but even if there were I wouldn't have signed up for any of them. I had no time. I worked, I went to school, I lifted weights, studied, got laid when I could, worked my 1st career on the weekends and had many months where I worked 7 days a week. Looking at costs of local universities today, the state schools are still very doable. I could do it all over again, and end up with minimal debt, akin to what I owed when I graduated with obvious inflation adjusted. I still don't buy this bullshit and think it's just a bunch of coddled children imo. My first 2 years were rough and I didn't have any help from anyone. Nobody paying for my phone or anything. I knew I'd have to sacrifice a social life, fun, etc, but also knew it would be 5 years of my life and that it would pay off. I was right. Maybe these kids need to sacrifice the same and choose more affordable schools. It's all about attitude. I had to live in some pretty low rent apartments that were shit holes. My wardrobe consisted of jeans, hanes t-shirts of every color. I'd wear a pair of shoes out before buying another. Winter attire was 3 different sweatshirts (hoodies) bought at the bargain store. It was all about sacrifice. I even remember tailoring my driving to get groceries or needed things done to/from work or to/from school.

And as Elk Hunter just pointed out. You and your family don't have the scrilla to go to that university you want? Join the military. Most of fields you want to study, tell the recruiter. Put your 4 years in and get the military's help for your bachelors degree. Many options. This generation is just a bunch of lazy assholes that think social media is more important than anything.

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Originally posted by Bytes:

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Originally posted by SevenPlusOne:
Why do people have kids to begin with?

When your child "out does you" it is really rewarding. Both my daughter and my son "out does" the wifey and I in many areas. That is such a good feeling.

I have two sons in that category and you're right. They have great families and are doing ok financially.

quote:

Originally posted by Voshterkoff:
Housing and tuition costs are seriously inflated compared to prior generations.

I don’t know for certain but my guess is this is true.
Here’s the inflation calculator if anyone feels like running numbers. Compare your college expenses to your kids.

https://data.bls.gov/cgi-bin/cpicalc.pl

Young adults getting financial help from parents is, in my opinion, not a big deal.

In Japan, young adults are expected to live at home until about 30, by which time they have the financial wherewithal to do fine on their own.

My child choose not to, but asked me for help buying a new used car. I agreed because she'd done the math on loan alternatives and found if
I put $4500 into my credit union savings, allowed it to be collateral for a loan in her name, she'd pay three to four percent less interest, which allows her to shorten the loan life by a year, without making a much higher monthly payment. It also lets her build credit history other than student loans.

I have other cash resources, so why not? Years ago I did the same thing for a friend whose divorce landed him in a financial jam.

She's on our phone plan because keeping her there is, I kid you not, $5.00. She's also on our awesome medical insurance because it's far cheaper than the shit policy available via her employer. She pays those costs back to us.

Bottom line is this... Do you love your child or money more?

It's not always just about the money. Having a child soar can be much better for them than constantly helping them. Japan is proof positive of that notion. The young people there typically live with their parents much longer than the U.S. and are obviously in a better financial situation at 30 than someone who does not. They also have one of the highest suicide rates and very high levels of feeling unfulfilled.

I still remember the feeling when I moved out and bought my own house while getting married shortly after. No amount of parental coddling could ever replace that.

Reading this thread and the justifications that everyone is making has me thinking 50% might be low.

I read somewhere and I'm trying to find the source but this will be the first generation of kids since The Great depression that will not do as well as their parents

Things on the front have changed drastically. When our kids graduated high school, our deal was go to school and we'll help. Operative word here is help. Not pay everything as we couldn't do that with three in college at the same time. Cell phones weren't a big player but we paid towards tuition, books and covered car insurance and two out of the three live at home with all the benefits that brings. Once they were out of college, they were pretty much on their own. Of course we wouldn't let them live under a bridge, but they had some tall explaining to do if they wanted financial help. I'm happy to say they all sucked it up and made it work and very productive self sufficient.

ironic that a bunch of boomers (most posters here), the generation that brought us the hippie, free-love movement and began the breakdown of America's high moral standards, not to mention raised the millenial generation, sit and harp on about "kids these days."

some millenials need a kick in the pants. plenty of boomers needed a kick in the pants.

Raised my kids like my parents raised me. Want a car when you get your license? Fine you can have any car you want as long as you pay for the car , insurance and plates. When you're out of HS you will be paying rent. Don't get me wrong my parents were a very loving Mom and Dad. But they thankfully raised me and my brother to become responsible adults. I did the same with my kids and I'm VERY proud of the adults they have become. You do your kids a huge disservice if you make it too easy.

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Originally posted by kramden:
Raised my kids like my parents raised me. Want a car when you get your license? Fine you can have any car you want as long as you pay for the car , insurance and plates. When you're out of HS you will be paying rent. Don't get me wrong my parents were a very loving Mom and Dad. But they thankfully raised me and my brother to become responsible adults. I did the same with my kids and I'm VERY proud of the adults they have become. You do your kids a huge disservice if you make it too easy.

Same here in every regard. I am extremely proud of my son and everything he owns he purchased for himself with money he earned. He has highly succeeded at every job he has held, and graduated with a business degree from college with no debt.

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Originally posted by Voshterkoff:

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Originally posted by FenderBender:
Why can't millennials seem to make enough money in general?

Housing and tuition costs are seriously inflated compared to prior generations. Combine that with unchecked migration depressing entry level job wages, laziness, and poor spending habits and you get to where we are.

This.

It's a mix of some kids being lazy and others just having a rough time. Wages adjusted for inflation are less than what they were 30 years ago.

Globalization and technology making the shifting of once well paying jobs to more profit friendly areas of the globe have a lot to do with it.

I knew it was bad, and recently got to experience it myself at 57, when my well paying job was sent to India. I now, as a contractor, make what I made in 1995 not adjusted for inflation. If I adjust for inflation, I need to go back to 1986 when I was a very young Sr. Computer Operator (here is a once well paying job gone the way of the do-do for the most part).

So, I can see how many kids, who are trying to do it right, struggle. Sure, quite a few do real well, but they can consider themselves lucky, in today's globalized environment. The average job today, that the average person gets, pays much less than what their parent's got.

I was smart, lived within my means, took advantage of my parent's support when I was young and set myself up to be able to survive on '95 wage level today. A paid off house - all done by myself, goes a long way.

Remember, most of the jobs created in this Trump Economy, pay between 35K - 60K a year, and in a large number of areas in the country, this is barely a living wage. I had more disposable income in '95 than I have currently in 2019. Bravo.

quote:

Originally posted by Voshterkoff:

quote:

Originally posted by FenderBender:
Why can't millennials seem to make enough money in general?

Housing and tuition costs are seriously inflated compared to prior generations. Combine that with unchecked migration depressing entry level job wages, laziness, and poor spending habits and you get to where we are.

I don't find this to necessarily be true. I went to FAU in the late 90's, let's just say 1999 and tuition was $125 a credit hour. It's $201 a credit hour, 20 years later. That sounds about right and is the same for any in state school- IE FSU, UF etc. Housing follows inflation too.

The problem is, all of these kids now want to go away to school, pay for a nice apartment versus a dorm, and not work a side job at all. I went to the local community college for my AA, then FAU for my BS in Finance, lived at home, paid my mom $3-400 a month rent, and paid for all of my stuff, my tuition, books, and worked 3-12 hour days a week (36 hours a week). It wasn't that difficult to do. These millennials think it's one big party.

it seems like any commentary on any article with "millennials" in the title turns into a blame-game between stupid, rich, old boomers and entitled, naive, and moronic millennials, all of which goes no where because it's largely all generalizations and absolutes that, while fit such stereotypes and memes, don't do shit but perpetuate the dick-measuring and pissing contests of which generation is better, who had/has it worse, or who's fault it all is. Far too many factors and circumstances, even across "nearly half" to point one way or another for definitive generalizations in my book.

quote:

Originally posted by dusty3030:
Can't blame them for not weaning themselves if you refuse to take the tit out of their mouth.

========================================

Bingo! It is all about the basics.

Parents have no clue how to teach responsibility.

therefore,

Children do not learn survival skills.

quote:

Says the bill they struggle with the most is their cell phone.

I suspect it's not so much that they struggle with it as it is that it's just an inconsequential amount and the survey revealed that there's a lot of that going on.

I still have my 25 and 27 YO on mine - it's $20 per month each. All I'm doing is taking the hit for the "primary" user that I would be anyway and adding them for next to nothing rather than them having to pay 3-5 times that for the same coverage. They buy their own phones, insurance, cars, rent, pet food, whatever. It's $40 - couldn't possibly care less. I waste that or more on something more than once a month probably, one might as well be them.

There's plenty of coddling going on out there, but leaving them on a cell plan ain't what's leading to the discussion we have about this segment.