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Originally Posted by FireGilbert
Kids these days are not better or worse at saving than their parents were.
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You don't really believe that, do you? I'd bet the grandparents of virtually every person here are cheap as ####. You know who else is cheap? First generation (and to a lesser extent second-generation) immigrants. Cheap Asian parents are a cliché for a reason.
Every generation you move away from real poverty and hardship, the slacker and less disciplined people become with money. It's just a natural progression.
Quote:
Originally Posted by FireGilbert
Looking at what wages, house prices, and interest rates were 40 years ago it was easier to save enough to buy a house or have a nest egg.
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40 years ago most families were still single-income. And if a mom worked, she had a job at Zellers or as a receptionist, not as an accountant. The household with two professional earners is a recent thing.
Quote:
Originally Posted by FireGilbert
The older generations spent more on optional things like music, smokes, and alcohol while the younger generations spend more on the necessities of life such as rent and education.
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Younger generations also spend much more on dining out and travel. And detached homes are 50 per cent bigger than they were 40 years ago. Look at a neighbourhood built in the 50s or 60s. They're full of 1,200 sq ft bungalows with one or maybe two bathrooms. And they were considered perfectly suitable for middle-class families with 2 or 3 kids.