by Kingcoal » Thu 19 Jun 2008, 09:18:19
I'm 45 and I am spoiled compared to my parents and especially compared to my Grandparents, God rest their souls.
The thing I've noticed about a lot of twenty somethings these days is that they don't understand basic economics and they seem to think it's normal to stay with their parents when they are capable of living on their own. When I was in my early twenties, I realized that, by US standards, I was poor and I wasn't alone. I lived within my means, didn't run up my credit cards and worked my way up the ladder. A typical Saturday night when I was 24 was me and my buddies playing penny poker, drinking beer at home. I was on my own, living in a dump and it was fun. I didn't have any money, but I was on my own and that meant a lot - I was proud! We couldn't afford to go out and blow money at clubs, we couldn't afford new cars, etc. We knew we were poor and somehow managed to have fun. What I see these days is young people getting out of school, moving back in with their parents, buying a brand new car and going out to clubs and bars every weekend wasting all their money. They ruin their credit history early on, compromising their future. They seem to subscribe to the "fake it until you make it" philosophy and end up being a lifetime burden on their parents/grandparents.
When I was in my twenties, it was weird to stay with your parents and it was cool to be out on your own.
It's really simple; you have x amount of money coming in and x amount going out and you make that balance. If it doesn't balance, you make some business decisions. You don't assume that your boss is going to walk up to you in six months and tell you that you are going to get a big raise and promotion. You do everything you can to get ahead, but you don't assume that you are going to be ahead in the future. In other words, live within your means, make good investments and things will happen for you.
"That's the problem with mercy, kid... It just ain't professional" - Fast Eddie, The Color of Money