Current Events > Do you think millennnials will EVER be able to build up serious savings?

(+) Yeah! (+)

jedisamurai posted...

JBaLLEN66 posted...

Hell no, youre telling me that a person is unable to save money is because god forbid they are human and want to occasionally indulge themselves on a beer or latte from Starbucks. We dont live in ****** Sparta for gods sake. You are completely ignoring the underemployment rate, rising cost of living, the costs monetary and time wise for obtaining the education to get the opportunity to get a gainfully employed job, and etc. BUT NO! Mr Ramsey drones are like youre poor because you buy a 5 dollar latte herp derp!!

Where in the flying fuck did I say nobody could have anything? HUH? WHERE? Fucking post a quote where I said you cant have any indulgences whatsoever.

You come in here flying off the handle just because I said people could use a fucking thermos and pack a sandwich. Seriously? Did I say you could NEVER get a cup of Starbucks? Did I say NEVER go to a movie? No I didnt.

So seriously, stop with the Ramsay shit. I told you I've never seen the guy. I dont normally care about someone calling me a name, but in this case one more fucking word about that shit, like calling me a drone, and I will report you.

Again, grow up or shut the fuck up.

This is why I love CE
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LOL never change, CE.

$210 a month on coffee is nothing compared to $1800

$210 is actually over 11% of 1800, which imo is a fairly large amount. Plus that's just coffee expenses, what other expenses do you have that you could cut down on to save money?

Like I also enjoy having Starbucks or DD every once in a while but it legit is a lot cheaper to make it at home, or even buy it at a gas station or small cafeteria or something (a $2 cup of gas station coffee is going to total to $60 at the end of the month).
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jedisamurai posted...

I'm an independent who voted for Obama and Trump... I fall on both sides of the aisle on topics.

so you have a track record of bad decisions, and are a walking billboard for the r/enlightenedcentrism behavior. not things you should really be so proud about.
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Lol @ people thinking spending money eating out for lunch and coffee daily doesn't add up to a significant amount of $$
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SK8T3R215 posted...

Lol @ people thinking spending money eating out for lunch and coffee daily doesn't add up to a significant amount of $$

It doesnt. Explain to me how a daily $3.49 coffee adds up to a lot when you make 6 figures.
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bkkorps posted...

jedisamurai posted...

I'm an independent who voted for Obama and Trump... I fall on both sides of the aisle on topics.

so you have a track record of bad decisions, and are a walking billboard for the r/enlightenedcentrism behavior. not things you should really be so proud about.

Why do cultists get so triggered whenever they see someone who doesn't toe a party line?

FFVII_REMAKE posted...

SK8T3R215 posted...

Lol @ people thinking spending money eating out for lunch and coffee daily doesn't add up to a significant amount of $$

It doesnt. Explain to me how a daily $3.49 coffee adds up to a lot when you make 6 figures.

This is about people who haven't made it yet but spend like that, then blame the system.
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voldothegr8 posted...

FFVII_REMAKE posted...

SK8T3R215 posted...

Lol @ people thinking spending money eating out for lunch and coffee daily doesn't add up to a significant amount of $$

It doesnt. Explain to me how a daily $3.49 coffee adds up to a lot when you make 6 figures.

This is about people who haven't made it yet but spend like that, then blame the system.

Then quit generalizing Millennials.
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FFVII_REMAKE posted...

SK8T3R215 posted...

Lol @ people thinking spending money eating out for lunch and coffee daily doesn't add up to a significant amount of $$

It doesnt. Explain to me how a daily $3.49 coffee adds up to a lot when you make 6 figures.

If you're making 6 figures you really shouldn't have issues saving money so go ahead and spend money on things like that daily.

This is more for people who can't save any money each month and sit there blaming others instead of reviewing their expenses and making adjustments to save more.
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FFVII_REMAKE posted...

SK8T3R215 posted...

Lol @ people thinking spending money eating out for lunch and coffee daily doesn't add up to a significant amount of $$

It doesnt. Explain to me how a daily $3.49 coffee adds up to a lot when you make 6 figures.

If you buy one of those 5 days per week for 50 weeks out of the year it comes to $872.50 (not including tax). There's a lot other things you can do with that money, especially considering a lot of people don't even have $1000 in savings.

If you're making six figures, and that's one of your few indulgence, then it's really not a big deal. But just from what I've seen, the people who casually buy daily coffee or other things at inflated prices regularly and say "it's not a big deal because it's only a few dollars" are the ones who are always short of money and have too much debt because they spend carelessly in other areas.
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bkkorps posted...

jedisamurai posted...

I'm an independent who voted for Obama and Trump... I fall on both sides of the aisle on topics.

so you have a track record of bad decisions, and are a walking billboard for the r/enlightenedcentrism behavior. not things you should really be so proud about.

Well how bout you tell me what YOUR genius fuckin decisions would have been the last two elections, slick.

Shit...I mean...Please PLEASE enlighten me on what better decisions I could have made. With the shit I've had to choose from...

2012--Obama or Romney. So I pick a guy on Obama whom I disagree with a decent amount but at least have some respect for even when I disagree, or Romney, who came across as a real bad used car salesman to me. Lesser of two evils....

2016-- Trump or Clinton. I went with Trump because I liked the attitude of aggressively needing to take on the establishment. Or Clinton, who like Romney came off as shitty used car salesman on top of being a criminal. Again, lesser of two evils...

Whether or not I'm entirely happy with Trump is a different argument. It's been a mixed bag, but I'm SURE that I'll be given a stellar Democratic candidate to make an easy decision next year and make you happy bud.

More likely I'll have to choose the lesser of two evils again...

I went with Trump because I liked the attitude of aggressively needing to take on the establishment.

lmao
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JBaLLEN66 posted...

I really dont see a point in owning a house tbh

Seriously. I'd rather live in my shitty apartment and use that money to go on vacation.

It be nice to own a house but you're fucked out of 5k if your A/C breaks.

DakotaPrescott posted...

JBaLLEN66 posted...

I really dont see a point in owning a house tbh

Seriously. I'd rather live in my shitty apartment and use that money to go on vacation.

It be nice to own a house but you're fucked out of 5k if your A/C breaks.

For the same amount of money I was paying in rent at an apartment, I am paying mortgage, taxes and insurance for my house.

The property value is going up, the loan amount is going down, hopefully we'll get some roommates in here and that will mean I'm spending even less monthly.

I don't think homeowning is for everyone and it's more work than having an apartment but overall it can be a great investment.
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I sympathize with the argument for not buying daily indulgences and also for saving.

No one really buys lattes because it's an indulgence. It's usually to socialize with friends or colleagues. I don't know why, but the only time I've been able to have meaningful conversations with colleagues is over coffee. It's also how I meet dates when I'm lucky enough to convince someone (that or a $6/$7 dollar beer).

Most offices I've worked in had coffee, but especially the women liked to meet over Starbucks or local cafes. Most of them have good, stable jobs and possibly houses where I live (extremely high COL). I think the people who struggle with saving are more the ones who spend money on weed, alcohol, cigarettes, and entertainment. I have also known people who bought new cars before getting out of college, never cared about negotiating on cable or gym memberships, and took dates out frequently. These people probably enjoy their lives way more than me. However, where I live, this lifestyle is encouraged. Where I grew up, it was about who can go to the fifteen dollar buffet, who had the biggest truck, shit like that.

All my life I've skimped. It's been hell on my social life. I can no longer sit around and mooch off my friends or save up five bucks to throw down on taco/pizza night. Adults just move too fast. So I think the $5 dollar a day on a latte is a red herring from people in the media looking to rile people up. No one in genuinely thinks people are blowing their mortgages on avocado toast and coffee... well, maybe a few, but that obviously won't last. There is other stuff, however.

When I was growing up it infuriated me that my mom would constantly spend on cigarettes and McDonald's meanwhile we couldn't afford to get an apartment. My dad couldn't help me buy a car but was always going on cosmo vacations. I have no sympathy for spending everything on addiction and laziness because everyone has choices to make.

You know what, though? The my age people I see eating out and getting drinks/coffee/spa days etc. are doing just fine because they've devoted themselves to being corporate workers. They'd planned and executed on certain things and had support while doing it. The things that have always made people wealthy are the things that will continue to, it just exists on a different scale. So I don't think it matters if you blow ten bucks a day on indulgences when you're smart with your money and career. It matters how much you make in this world more than how much you spend. I know people who live paycheck to paycheck (cash wise) who are rich and those who are dead broke.

Worrying about minutiae is counterproductive in the long run. Decision fatigue is real. If I spent the time I worried about money being productive and consistent I'd be a lot healthier and better off financially, I'd bet.
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berlyman101 posted...

No one really buys lattes because it's an indulgence. It's usually to socialize with friends or colleagues.

Why do so many people buy them at drive through or take them to go? Especially during the morning commute hours?
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DifferentialEquation posted...

berlyman101 posted...

No one really buys lattes because it's an indulgence. It's usually to socialize with friends or colleagues.

Why do so many people buy them at drive through or take them to go? Especially during the morning commute hours?

Maybe they do. I'm speaking from experience here. If they do that even every other day, yeah that's dumb... however, if they have kids and a 25 minute commute, I could see it as a part of a morning ritual where they can think and get focused for the day.
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Most Boomers spend more per year on cable TV than Milennials spend on, well, literally anything.
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Yes, but it will take them much longer due to imbalances with the economy that other gens never had to face. Plus the Fed just bent the knee to Trunp so that makes things hard on the rates. I'm just starting to seriously save and it took a whole lot of work and planning.

Looks like none of the generations will be able to:

https://dqydj.com/retirement-savings-by-age-united-states/

See especially the differences between mean and median savings.
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jedisamurai posted...

JBaLLEN66 posted...

Hell no, youre telling me that a person is unable to save money is because god forbid they are human and want to occasionally indulge themselves on a beer or latte from Starbucks. We dont live in ****** Sparta for gods sake. You are completely ignoring the underemployment rate, rising cost of living, the costs monetary and time wise for obtaining the education to get the opportunity to get a gainfully employed job, and etc. BUT NO! Mr Ramsey drones are like youre poor because you buy a 5 dollar latte herp derp!!

Where in the flying fuck did I say nobody could have anything? HUH? WHERE? Fucking post a quote where I said you cant have any indulgences whatsoever.

You come in here flying off the handle just because I said people could use a fucking thermos and pack a sandwich. Seriously? Did I say you could NEVER get a cup of Starbucks? Did I say NEVER go to a movie? No I didnt.

So seriously, stop with the Ramsay shit. I told you I've never seen the guy. I dont normally care about someone calling me a name, but in this case one more fucking word about that shit, like calling me a drone, and I will report you.

Again, grow up or shut the fuck up.

Someone seems angry
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1337toothbrush posted...

Looks like none of the generations will be able to:

https://dqydj.com/retirement-savings-by-age-united-states/

See especially the differences between mean and median savings.

This makes me feel more secure in where I'm at >_>
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lmao we're absolutely fucked
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Crepes posted...


Boomers literally had the cheapest overall cost of living of any generation ever, voted themselves neverending tax cuts and entitlements, and have the audacity to blame the people they left with tab.

Their education was 10x cheaper than ours even adjusted for inflation.

Their housing 2-3x cheaper even adjusted for inflation

Their starting incomes dramatically higher.

They're leeches who have destroyed future generations' wealth and prosperity.

And they have the audacity to blame Milennials for not having enough savings.

I dont disagree. But I think its more down to human nature. Do you think the millennials today are going to leave the world in a better place for our kids?

Its really beyond their control, at this point. You vote for one thing and you get another, so its hard to blame anyone. The boomers had certain things really tough, but when it came to the workplace? Boomers had Easy-Easy mode for the workplace. It was rare for a boomer to not be a home owner by age thirty, and most thirty year olds today are lucky to stay out of the red even with a good job.
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