People in every age bracket overspend.
I am really really tired of this young people being entitled argument being rehashed everywhere.I think everyone should read this and see the math:
http://www.theglobeandmail.com/globe...ticle10327284/.
College and university degrees cost much more than they ever did for generations before. Young people are in debt because of student loans. They were promised that degrees would get them jobs. Those jobs never came. So how do you pay down this debt?
Some of my friends have had to go back to school and pay upwards $15K to get jobs in more in demand fields. That's on top of the previous debt. Does that sound entitled? More like doing whatever you can to make ends meet.
Some of my friends can't afford to get married. I haven't been to a wedding in 2 years (my own!). One of my friends scraped together enough money to have a small, lovely wedding after living together nearly 10 years, but couldn't even afford a drive to Niagara Falls for the weekend to get the honeymoon they deserve. Supporting their son is more important. This is entitled?
I have only one friend who owns a home. Not a lot of people my age (30) can afford to even buy a home, ever. And if that's the case, why is travelling, having a nice dinner, or nice clothes so awful? Is it entitlement? You can't take it with you and if you can't put it in a home, why keep it in a bank account? And no, I'm not suggesting people spend money they don't have, just make the most of what they do have.
Meantime, I'll keep paying rent to my landlord who lives in Hong Kong. In the long run, it is cheaper than buying a home at ridiculous prices they're at right now.