38 ms·

Millennials aren't cheap, they just have different spending priorities

24 points by pman2000 10y ago

Cephlin 10y ago
I think after 10 years of being an adult and having relatively little money, it's not a question of whether I want a new car or not, it's just the simple matter of not being able to afford one. I can't afford to buy my own home even though I'd be saving money on the mortgage compared to the rent. I can't afford nice holidays even though it suggests I'm more inclined to do that. I think a better title would be "Millennials aren't cheap, they're just poor..."
- kozak 10y ago
  Or maybe owning a home isn't as high a priority for you as it was for earlier generations? So high that you sacrifice a lot of other things, including living in a much more modest place than the one you are renting now?
  - corobo 10y ago
    An argument I have had so many times with the fiancee (both on the older side but still millennial) is that renting means we don't have to deal with the things that can go wrong with a property. Absolute worst case scenario? We can just pack up and move without hiring lawyers and trying to sell a house. She would much prefer to settle and buy a place. On the flip side of the same coin we don't yet have kids or any real specific ties to the area right now so my opinion may eventually change. I realise my two data points are opposing and basically cancel each other out. Maybe grouping by "millennial" is too vague.
  - carsongross 10y ago
    Nah, man. Real wages are flat to down, housing in areas with jobs is through the roof, and everyone gets a free debt treadmill upon graduation now. Tastes change and all, but, end of the day, they are poor.
- soneil 10y ago
  I haven't bothered with a car because they're frankly ridiculous here (Ireland). I just went looking for an example to put some actual numbers behind this - and I couldn't. I picked the most unassuming car I could think of (a 2006 Nissan Micra, €1500-€2000), and went looking for an insurance quote. For a 35-year-old on a brand new license, with the dullest, most economical car I could think of - I couldn't find anyone willing to even offer me a quote. They'll let me put myself as a named driver on someone else's policy - but as my family don't live in this country, that's not an option. Every time I read various articles about various industries complaining that 'millennials' not providing the business they expect from us, I just end up screaming at the monitor. I won't buy a car because they won't let me. If they won't even allow me to bend over, they can't complain I'm not letting them screw me.
overgard 10y ago
I think we'd be smarter as a society if we did away with the term "millenial". Pretending like "everyone under 35" is a group with common goals is too much.
- Cephlin 10y ago
  I think the common goal is fuck Brexit, at least in the UK. When will these old people die already/get out of politics and let us decide our own future? So we can mop up the mess they imposed upon us?
  - hatsuseno 10y ago
    Isn't this a mindset shared by every "generation" before us?
    - k-mcgrady 10y ago
      I think the difference this time is that the older generation is significantly larger than ever before. Also, IIRC, this generation will be the first to do worse financially than their parents generation. So taking the parents point - after enjoying a good standard of living and taking on a huge amount of debt they couldn't afford, contributing to the great recession, the older generations have now decided that the solution is Brexit/populism. Both these things will have lasting consequences for younger generations but not for the older generations looking for a quick fix as they won't be around long enough to suffer the long term consequences. I'm not saying whether this is right or wrong but based on my conversations this is the general thought process and why it is a little different than the general 'the last generation sucked' feeling.
      - Cephlin 10y ago
        Not only that, they just voted us out of the common market, if the old people get their way, I'll have to get a bloody visa to go to on holiday to France or some nonsense. At least it kinda looks like Brexit isn't going to happen and the EU will collapse before we leave, so who knows... This all just looks like a world war is on its way.
mawburn 10y ago
Why would you disable zooming on mobile, if you publish articles that are infographics?

24 points by pman2000 10y ago

I think after 10 years of being an adult and having relatively little money, it's not a question of whether I want a new car or not, it's just the simple matter of not being able to afford one. I can't afford to buy my own home even though I'd be saving money on the mortgage compared to the rent. I can't afford nice holidays even though it suggests I'm more inclined to do that. I think a better title would be "Millennials aren't cheap, they're just poor..."

kozak 10y ago
Or maybe owning a home isn't as high a priority for you as it was for earlier generations? So high that you sacrifice a lot of other things, including living in a much more modest place than the one you are renting now?
- corobo 10y ago
  An argument I have had so many times with the fiancee (both on the older side but still millennial) is that renting means we don't have to deal with the things that can go wrong with a property. Absolute worst case scenario? We can just pack up and move without hiring lawyers and trying to sell a house. She would much prefer to settle and buy a place. On the flip side of the same coin we don't yet have kids or any real specific ties to the area right now so my opinion may eventually change. I realise my two data points are opposing and basically cancel each other out. Maybe grouping by "millennial" is too vague.
- carsongross 10y ago
  Nah, man. Real wages are flat to down, housing in areas with jobs is through the roof, and everyone gets a free debt treadmill upon graduation now. Tastes change and all, but, end of the day, they are poor.
soneil 10y ago
I haven't bothered with a car because they're frankly ridiculous here (Ireland). I just went looking for an example to put some actual numbers behind this - and I couldn't. I picked the most unassuming car I could think of (a 2006 Nissan Micra, €1500-€2000), and went looking for an insurance quote. For a 35-year-old on a brand new license, with the dullest, most economical car I could think of - I couldn't find anyone willing to even offer me a quote. They'll let me put myself as a named driver on someone else's policy - but as my family don't live in this country, that's not an option. Every time I read various articles about various industries complaining that 'millennials' not providing the business they expect from us, I just end up screaming at the monitor. I won't buy a car because they won't let me. If they won't even allow me to bend over, they can't complain I'm not letting them screw me.

overgard 10y ago

I think we'd be smarter as a society if we did away with the term "millenial". Pretending like "everyone under 35" is a group with common goals is too much.

Cephlin 10y ago
I think the common goal is fuck Brexit, at least in the UK. When will these old people die already/get out of politics and let us decide our own future? So we can mop up the mess they imposed upon us?
- hatsuseno 10y ago
  Isn't this a mindset shared by every "generation" before us?
  - k-mcgrady 10y ago
    I think the difference this time is that the older generation is significantly larger than ever before. Also, IIRC, this generation will be the first to do worse financially than their parents generation. So taking the parents point - after enjoying a good standard of living and taking on a huge amount of debt they couldn't afford, contributing to the great recession, the older generations have now decided that the solution is Brexit/populism. Both these things will have lasting consequences for younger generations but not for the older generations looking for a quick fix as they won't be around long enough to suffer the long term consequences. I'm not saying whether this is right or wrong but based on my conversations this is the general thought process and why it is a little different than the general 'the last generation sucked' feeling.
    - Cephlin 10y ago
      Not only that, they just voted us out of the common market, if the old people get their way, I'll have to get a bloody visa to go to on holiday to France or some nonsense. At least it kinda looks like Brexit isn't going to happen and the EU will collapse before we leave, so who knows... This all just looks like a world war is on its way.

mawburn 10y ago

Why would you disable zooming on mobile, if you publish articles that are infographics?