Came across this article. Makes perfect sense knowing the 2 millennial’s I brought into this world. In addition to the reasons described in this article, if other Millennial’s are like my two, they don’t want to be responsible for anything and will rent forever (as homeownership comes with A LOT of responsibility)!
Yup, don’t forget the GIANT PROBLEM, student school loans.
I “somewhat” agree with this, depending on the type of loan (private/fed) and who owns the loan (parents/student). I can say this, I do see some sort of student debt relief coming for two reasons: Elections coming up (mid terms) and they have been sitting on the issue way to long to just come out and say NO! If it does happen, I see student loan borrowers putting the savings toward debt and survival now that higher inflation/gas/energy robbed them of the opportunity of owning a home. Basically, most will put that money to what they need now to survive, as opposed to picking up another larger new debt like purchasing a home. You have to pay for the yesterday and today in order to afford tomorrow!
My 32-year-old son is one of those that says that he has no interest in taking on a debt that he won’t finish paying off for 20 to 30 years. He purchased an RV cash and as a traveling nurse, he loves the freedom that it gives him. I taught him early in life to live within his means and because of that, he lives a debt-free life. It took me many years to get debt-free and have no desire to go back down that route again.
I love hearing this. You raised him right.
In early 2000 I was part of a 2 person team that designed and developed a debt and money management program that has been adopted by most of the major banks here in the US.
During that process and time I was leading and teaching the program for the bank and therefore made a decision to practice what I preached. I had to learn it the hard way. My boss at the time who now became one of my best friends has evolved and taken it to the next level. She is in the process of writing a book about her experience which is in the process of being published.
I think schools should teach money management starting at six grade to prepare these young people to manage their money wisely before they get out in the big bad scary world!
Wait, you have a 32 year old son? Amazing, you look so young!
Yeah I was on that track, until Obama Care came out and stated that kids can remain on the parents health insurance until the age of 26. My 2 clowns thought that meant we (as parents) had to give them everything else till then. So I said “sure” but you still have to get a job to contribute to your community, the economy, yourself, AND this house! They found independence real quick after that discussion. I have a 27 year old who has been in the Air Force 7 years now (making it a career) and a 25 year old who fixes casino gambling machines. Both boys doing well. Now working on getting the 13 year old and 2 year old out the house!
Congratulations! We thank your Air Force son for his service! You raised them right!
If you could only see the amount of gray hair I have when my hair is not dyed you would believe my age…lol
The program that we designed stars them from middle school. If I knew then what I know now I would be so far along in life
Hey can your son meet me in Las Vegas as there are a few machines that keep taking my money… those ones are broken and need some serious fixes
Ha! My 2 oldest (23 and 21) are married with 1 kid each and got so upset when I took them off my health insurance this year😂
Yo that’s no longer my responsibility. Today I told them Netflix is next since their still using my account
Heck, my son is still on my cellphone plan. When I told him that he needs to get his own service he stated that it’s a family plan and he is part of the family so what sense would that make… lol…he is just lucky he is an only child…
Makes sense to me!
After me, you come first…lol
Wow! But you look no more than 25! Amazing!
Well Thank you ma’am! I appreciate that!