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My sense is that Millennials have a less rosy view of their future economic situation than did generations past. I don't know if it was coming of age during a
by nostromo 10y ago
My sense is that Millennials have a less rosy view of their future economic situation than did generations past.
I don't know if it was coming of age during a banking crisis or huge student loans or expensive housing or what.
But obviously if you're unsure about your future earning potential you'll be more hesitant to rack up future obligations.
- Bartweiss 10y agoNotably, the suggestion that "it's fine if you pay off your card every month" or "loans are sensible if you get good rates" only holds for people with some kind of faith in stability. With a stable job and some savings, paid-off credit cards and zero-apr loans are great tools. If you're worried about losing the job and barely making rent (like many millennials are) then even 'safe' debt becomes troubling.
- spdionis 10y agoOr if you don't want to chain yourself to the job and like the financial flexibility to take time off whenever you want.
- theandrewbailey 10y agoIt might also be that many are un-/underemployed compared to where they want to be, and have been for years. They don't see their economic fortunes ever improving much.