John Drake Posted March 22 Share Posted March 22 Anybody surprised? Quote Reflecting on her upbringing, the initiator of the discussion noted, “When I reflect on how I was parented, I don't remember my parents ever giving me any type of life advice.” She said her parents did not teach her to save money or to appreciate the swift passing of time, particularly regarding education and personal growth. Her story resonates with a broader experience among millennials, where parental guidance on practical life skills was minimal or absent. https://finance.yahoo.com/news/am-not-prepared-life-millennials-150011198.html 1 Link to comment Share on other sites More sharing options...
Popular Post OneMoreFarang Posted March 22 Popular Post Share Posted March 22 And when did she realize that she has to learn more than her parents told her? And when did she start to learn all those things. I am sure we all will find things which our parents didn't tell us. And then we learned it somewhere else. And obviously that is not just a millennial issue. But maybe more millennials listen to other millennials how bad life is. 1 1 2 Link to comment Share on other sites More sharing options...
bendejo Posted March 22 Share Posted March 22 People ask me why I never had kids. I tell them I forgot to. So I guess the OP is validated: some of us were so negligent to the next generations that we couldn't be bothered producing them. Birth control, what a concept! 1 Link to comment Share on other sites More sharing options...
Popular Post tomazbodner Posted March 22 Popular Post Share Posted March 22 There are a few things that this generation is great at, though: demanding their rights, and blaming others. 4 1 4 1 2 Link to comment Share on other sites More sharing options...
FruitPudding Posted March 22 Share Posted March 22 (edited) To be fair to both sides, most boomers didn't teach their kids about finances because they, themselves, are financially illiterate and, therefore, could not. The difference is that financially illiterate boomers grew up in a world where a blue collar worker could buy a home and have 3 kids and a housewife, despite the fact that most have no clue about financial instruments (except buying a home and maybe having a savings account). They could also get lucrative white collar positions (e.g. engineer) with nothing more than a couple years of parttime nightclasses at college. They benefited from the booming economy, basically. Now, however, millenials are living in a world of educational inflation where bachelor's degrees are not worth much and most people can forget about buying a house and affording a large (or even moderate sized) family. Edited March 22 by FruitPudding 1 1 Link to comment Share on other sites More sharing options...
Popular Post John Drake Posted March 22 Author Popular Post Share Posted March 22 26 minutes ago, OneMoreFarang said: I am sure we all will find things which our parents didn't tell us. And then we learned it somewhere else. I knew there were going to be problems when, a few years ago, a news report said millennials weren't buying breakfast cereal because they didn't want to clean the bowl after eating from it. 8 Link to comment Share on other sites More sharing options...
John Drake Posted March 22 Author Share Posted March 22 2 minutes ago, FruitPudding said: Now, however, millenials are living in a world of educational inflation where bachelor's degrees are not worth much and most people can forget about buying a house and affording a large (or even moderate sized) family. I think this is true and is at the core of the problem. I'm not sure what financial strategy can even help you buy a house in the US today. It's just beyond reach for everyone starting out. Link to comment Share on other sites More sharing options...
John Drake Posted March 22 Author Share Posted March 22 4 minutes ago, tomazbodner said: There are a few things that this generation is great at, though: demanding their rights, and blaming others. I was six years old when my mother took me to the credit union and had me open up a savings account. 1 Link to comment Share on other sites More sharing options...
Popular Post xylophone Posted March 22 Popular Post Share Posted March 22 I, and of course many of my friends from the two countries in which I lived, are "boomers" and I don't recall any of our parents teaching us anything about life, other than the occasional "clip round the ear" if we did something wrong – – we learned from our experiences and mistakes and of course schooling, college and university attendance. And we didn't do too badly at all in life, well most of us anyway! 6 Link to comment Share on other sites More sharing options...
thaibeachlovers Posted March 22 Share Posted March 22 3 minutes ago, John Drake said: I think this is true and is at the core of the problem. I'm not sure what financial strategy can even help you buy a house in the US today. It's just beyond reach for everyone starting out. Surely then, prices must decrease if people can't sell theirs at a high price. I thought America was a market economy, or does that not apply to houses? 1 1 Link to comment Share on other sites More sharing options...
Popular Post bendejo Posted March 22 Popular Post Share Posted March 22 4 minutes ago, John Drake said: I was six years old when my mother took me to the credit union and had me open up a savings account. I was pre-school age when my grandfather took me on a visit to his bookie. 3 Link to comment Share on other sites More sharing options...
thaibeachlovers Posted March 22 Share Posted March 22 4 minutes ago, John Drake said: I was six years old when my mother took me to the credit union and had me open up a savings account. Most kids in NZ probably opened a Post Office savings account- 3% interest ( house mortgages were 9% ). Now of course, those accounts are long gone and so is the post office as an institution. 1 Link to comment Share on other sites More sharing options...
FruitPudding Posted March 22 Share Posted March 22 47 minutes ago, John Drake said: Reflecting on her upbringing, the initiator of the discussion noted, “When I reflect on how I was parented, I don't remember my parents ever giving me any type of life advice.” She said her parents did not teach her to save money or to appreciate the swift passing of time, particularly regarding education and personal growth This pretty much sumarizes it. It seems boomers were able to coast through life relatively easily benefiting from the rising tide and now millenials are trying to survive in a <deleted> up economy. And most boomers cannot teach their kids about this because the challenges are different and they have no clue. 1 Link to comment Share on other sites More sharing options...
Popular Post CHdiver Posted March 22 Popular Post Share Posted March 22 They never learned from the parents to complain, blame and be offended. But then, they still are the masters of complaining, blaming others and beeing offended. Funny, isn't it? That said, it's the duty of tictoc to educate this generation. So please do not blame your parents, blame tictoc. Thank you. 1 1 3 Link to comment Share on other sites More sharing options...
John Drake Posted March 22 Author Share Posted March 22 3 minutes ago, thaibeachlovers said: Surely then, prices must decrease if people can't sell theirs at a high price. I thought America was a market economy, or does that not apply to houses? Yes, I think the housing market must crash to give another generation a chance. 1 Link to comment Share on other sites More sharing options...
John Drake Posted March 22 Author Share Posted March 22 3 minutes ago, bendejo said: I was pre-school age when my grandfather took me on a visit to his bookie. That's why you're probably better off financially than I am. 1 Link to comment Share on other sites More sharing options...
thaibeachlovers Posted March 22 Share Posted March 22 12 minutes ago, FruitPudding said: Now, however, millenials are living in a world of educational inflation where bachelor's degrees are not worth much Nobody I knew bothered going to uni anyway. Unless going to be a Dr or lawyer etc, no working person doing a proper job needed a degree, including nurses. I got an apprenticeship without needing a degree- but the government did away with apprenticeships years ago and made people pay to do a course instead, so now it costs a lot to get a plumber or electrician. Now nurses need a degree that they pay for and it's hard to find any. 2 Link to comment Share on other sites More sharing options...
John Drake Posted March 22 Author Share Posted March 22 1 minute ago, thaibeachlovers said: Now nurses need a degree that they pay for and it's hard to find any. That's why the US just imports them from the Philippines. Link to comment Share on other sites More sharing options...
thaibeachlovers Posted March 22 Share Posted March 22 56 minutes ago, John Drake said: “When I reflect on how I was parented, I don't remember my parents ever giving me any type of life advice.” Mine kicked me out to boarding school, and the teachers didn't educate me about life either. I had to learn everything on my own after I started working. Didn't do too badly either, except I was too trusting of others. 1 1 Link to comment Share on other sites More sharing options...
thaibeachlovers Posted March 22 Share Posted March 22 1 minute ago, John Drake said: That's why the US just imports them from the Philippines. Along with Saudi, the UK and NZ. I worked with many and for the most part pretty good. Not as good as the Australians though. Lots of them in the UK doing their OE, till the UK government did away with agency nurses and recruited nurses from Africa- they worked for less. Link to comment Share on other sites More sharing options...
OneMoreFarang Posted March 22 Share Posted March 22 31 minutes ago, FruitPudding said: boomers grew up in a world where a blue collar worker could buy a home and have 3 kids and a housewife, despite the fact that most have no clue about financial instruments My parents, which I guess were the generation before the boomers, were very careful how they spent their money. They never visited restaurants, except when they were away from home. They also looked for good prices when they bought food and anything else. This is how they could afford a house and had money when they retired. I spend a lot of money in restaurants, for cars, and entertainment. And, obviously, I couldn't afford a house because I used the money for other things. Somehow I am pretty sure this is similar for millennials. It's up to us how we spend our money. If we spend it for A and B, then we should not be surprised that there is less money for C. 1 1 Link to comment Share on other sites More sharing options...
FruitPudding Posted March 22 Share Posted March 22 2 minutes ago, OneMoreFarang said: My parents, which I guess were the generation before the boomers, were very careful how they spent their money. They never visited restaurants, except when they were away from home. They also looked for good prices when they bought food and anything else. This is how they could afford a house and had money when they retired. I spend a lot of money in restaurants, for cars, and entertainment. And, obviously, I couldn't afford a house because I used the money for other things. Somehow I am pretty sure this is similar for millennials. It's up to us how we spend our money. If we spend it for A and B, then we should not be surprised that there is less money for C. But how do you explain this? Link to comment Share on other sites More sharing options...
FruitPudding Posted March 22 Share Posted March 22 7 minutes ago, OneMoreFarang said: My parents, which I guess were the generation before the boomers, were very careful how they spent their money. They never visited restaurants, except when they were away from home. They also looked for good prices when they bought food and anything else. This is how they could afford a house and had money when they retired. I spend a lot of money in restaurants, for cars, and entertainment. And, obviously, I couldn't afford a house because I used the money for other things. Somehow I am pretty sure this is similar for millennials. It's up to us how we spend our money. If we spend it for A and B, then we should not be surprised that there is less money for C. In the UK in the 1950s, you could buy a nice house in a good area for 600 pounds. Now, the same house is selling for 300,000 pounds 1 Link to comment Share on other sites More sharing options...
Popular Post Photoguy21 Posted March 22 Popular Post Share Posted March 22 I was 5 or 6 when my mother opened a savings account for me. Trouble with the young people of today they don't want to learn. After all why learn when you are entitled to everything you want? 2 2 1 Link to comment Share on other sites More sharing options...
John Drake Posted March 22 Author Share Posted March 22 Another factor, at least in the US, is people from my generation took summer jobs and even part time work during school. That doesn't seem to happen much at all anymore. Perfect way to gain experience, not only for discipline needed to show up and do work but understand salaries, deductions, and banking. 1 1 Link to comment Share on other sites More sharing options...
Popular Post Peabody Posted March 22 Popular Post Share Posted March 22 19 minutes ago, John Drake said: Another factor, at least in the US, is people from my generation took summer jobs and even part time work during school. That doesn't seem to happen much at all anymore. Perfect way to gain experience, not only for discipline needed to show up and do work but understand salaries, deductions, and banking. Growing up in the '60s, I would mow lawns, shovel snow, rake leaves, wash cars, make and hawk trinkets in my neighborhood, run a lemonade stand, deliver newspapers 7 days/week, 365 days/year, and babysit. As I got older, I would clean the local movie theater before school, saved and bought diving gear and did light salvage (purses, winch handles, and outboard motors dropped in the harbor), and boat bottom cleaning, painted boats and homes, washed airplanes at the local airport, cleaned sewer pipes, shoveled shyte at the local greenhouse, did day labor on construction sites, etc. Pretty much anything to honestly and legally earn money. I feel like I worked my ass off for many years, learning a lot about making and saving money. My parents taught me NONE of these skills directly. They also wouldn't let me get a license until I saved enough to buy a vehicle ($600 USD for a 1963 Ford Econoline van, bought in 1969, equivalent to about 5K today). I know many of these jobs are unavailable now- but the lack of a strong work ethic prevents many from being creative. Being a creator/influencer is not really a great career choice. 2 1 3 Link to comment Share on other sites More sharing options...
John Drake Posted March 22 Author Share Posted March 22 14 minutes ago, Peabody said: Growing up in the '60s, I would mow lawns, shovel snow, rake leaves, wash cars, make and hawk trinkets in my neighborhood, run a lemonade stand, deliver newspapers 7 days/week, 365 days/year, and babysit. As I got older, I would clean the local movie theater before school, saved and bought diving gear and did light salvage (purses, winch handles, and outboard motors dropped in the harbor), and boat bottom cleaning, painted boats and homes, washed airplanes at the local airport, cleaned sewer pipes, shoveled shyte at the local greenhouse, did day labor on construction sites, etc. Pretty much anything to honestly and legally earn money. I feel like I worked my ass off for many years, learning a lot about making and saving money. My parents taught me NONE of these skills directly. They also wouldn't let me get a license until I saved enough to buy a vehicle ($600 USD for a 1963 Ford Econoline van, bought in 1969, equivalent to about 5K today). I know many of these jobs are unavailable now- but the lack of a strong work ethic prevents many from being creative. Being a creator/influencer is not really a great career choice. That's quite a list! I can't begin to match. I did mow lawns in the neighborhood when I was 10 and 11 years old. Did landscaping (which is damn hard work in 100 degree weather) while in high school, and then later worked at a shooting range--sounds easy until you spend 100 plus degree days running up and down inside skeet towers or flushing out the water moccasins from the trap houses. Link to comment Share on other sites More sharing options...
OneMoreFarang Posted March 22 Share Posted March 22 54 minutes ago, Peabody said: I know many of these jobs are unavailable now I would be surprised if there are not some jobs available to make money. Maybe not jobs to write home about, and maybe not well paid. But jobs. And if we get better with time we get better jobs and more money. 1 Link to comment Share on other sites More sharing options...
impulse Posted March 22 Share Posted March 22 (edited) Hard to teach your kids anything if they already know everything from having their face planted firmly in their phone watching their preferred "experts", and ignoring all the old fart experts telling them they really can't have everything right now. Neither could the boomers. We just didn't have influencers. Edited March 22 by impulse 1 1 Link to comment Share on other sites More sharing options...
John Drake Posted March 23 Author Share Posted March 23 20 hours ago, impulse said: We just didn't have influencers. Billy Jack! 1 Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now