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29% of households have jobs but struggle to cover basic needs
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<blockquote data-quote="ThatRobGuy" data-source="post: 77659631" data-attributes="member: 123415"><p>While it's obviously a disingenuous "boomer answer" when people suggest "if you didn't buy that expensive starbucks, then maybe you'd be able to afford a house" (as if $30/month on coffee is going to be the deciding factor on if someone can afford a $400k home at a terrible interest rate)</p><p></p><p>...but I think it's one of those things where there is a measure of truth with regards to the sentiments about spending habits of younger millennials and genZ where they're certainly not helping themselves in some facets.</p><p></p><p>Two things can be true at once.</p><p></p><p>[URL unfurl="true"]https://explodingtopics.com/blog/gen-z-spending[/URL]</p><p>[URL unfurl="true"]https://ecocart.io/gen-z-spending-habits/[/URL]</p><p></p><p>Now, would reducing/adjusting any of these spending habits be a "game changer" with regards to them being able to get their piece of the "American Dream" like previous generations did? Likely not, there are still some things that need to change systemically.</p><p></p><p>But at the same time, statistics like ones listed in the links (46% spending more on fashion than other category, 30% spending more on beauty care products than any other category - more than any other generation, and being 2-3x more likely to buy clothing every week than any other generation, spending $2,000 a year on products for their pets, etc...) aren't necessarily helping their stated case in terms of being taken seriously.</p><p></p><p></p><p>So one can understand why it maybe rings a little more hollow when the "<em>It's not fair that you were able to buy a house so easily when I still have to rent</em>" is coming from someone carrying a bag full of $85 worth of stuff from Sephora and spending $90/month on various streaming services.</p><p></p><p>It doesn't make their point invalid, like I said, just makes it so a lot of people won't take it as seriously or will be more likely to be dismissive.</p><p></p><p>It's possible for a younger generation to be both A) getting a raw deal, while B) simultaneously being not-so-great with regards to prioritizing.</p></blockquote><p></p>
[QUOTE="ThatRobGuy, post: 77659631, member: 123415"] While it's obviously a disingenuous "boomer answer" when people suggest "if you didn't buy that expensive starbucks, then maybe you'd be able to afford a house" (as if $30/month on coffee is going to be the deciding factor on if someone can afford a $400k home at a terrible interest rate) ...but I think it's one of those things where there is a measure of truth with regards to the sentiments about spending habits of younger millennials and genZ where they're certainly not helping themselves in some facets. Two things can be true at once. [URL unfurl="true"]https://explodingtopics.com/blog/gen-z-spending[/URL] [URL unfurl="true"]https://ecocart.io/gen-z-spending-habits/[/URL] Now, would reducing/adjusting any of these spending habits be a "game changer" with regards to them being able to get their piece of the "American Dream" like previous generations did? Likely not, there are still some things that need to change systemically. But at the same time, statistics like ones listed in the links (46% spending more on fashion than other category, 30% spending more on beauty care products than any other category - more than any other generation, and being 2-3x more likely to buy clothing every week than any other generation, spending $2,000 a year on products for their pets, etc...) aren't necessarily helping their stated case in terms of being taken seriously. So one can understand why it maybe rings a little more hollow when the "[I]It's not fair that you were able to buy a house so easily when I still have to rent[/I]" is coming from someone carrying a bag full of $85 worth of stuff from Sephora and spending $90/month on various streaming services. It doesn't make their point invalid, like I said, just makes it so a lot of people won't take it as seriously or will be more likely to be dismissive. It's possible for a younger generation to be both A) getting a raw deal, while B) simultaneously being not-so-great with regards to prioritizing. [/QUOTE]
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