Quote:
Originally Posted by SeeBass
I do notice due to the cost of certain goods that the younger generation has items that we could only dream of.
A flat screen tv, music system, more affordable clothing and furniture.
I think thanks to cheaper quality goods, technology and labour the prices are lower in comparison to the wages.
How many of you guys in your 20's have a tv you bought yourself? How many of you have been to Europe or flew somewhere on a holiday cause the boomers rarely had that chance. I cant think of one person in the 80's that was under 25 that would ever have a new tv yet a vcr and speakers to go with it
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I'm 23 and have owned two brand new cars already and will be purchasing a third (a Camaro) next year. I was not born into a rich family nor had money given to me. I just graduated with two degrees but was able to operate a private music studio out of my home for the last six years with little overhead...a couple of nights every week after classes and it adds up.
I think what you are finding is that while things aren't more affordable as they used to be, this generation is all about luxury and pleasure first, and worrying about the staples of life later. Many friends or people I know (similar age) go on frequent vacations, etc. and have all the gadgets despite living on little income.
It's not about how much you make, it's about how you allocate those funds. I think my parents' generation was more concerned about saving money, investing and such whereas my generation is more about having stuff, and having it whenever we want.
In the case of cars, credit is easy to obtain and with 0% financing being offered all the time now, it is easy to buy a car now and pay for it later with zero cost for borrowing. Similar deals exist on furniture, jewelry and electronics as well. All this "don't pay until 2013 stuff"...it sucks people in.
My parents always remind me that they never bought a new car until 2001...but they started their own business and had to build it from the ground up, working basically for free the first few years until it took off. I got a full-time job right out of University with guaranteed income. Big difference.
They also own their own home now...whereas I won't even be able to buy one for several years yet. So there are definitely pros and cons to both ways of thinking.