Millennials and Gen Zers are pulling in bigger paychecks, but much of their spending power is fueling short-term purchases like groceries and vacations, not savings.
  • MTK@lemmy.world
    72·
    10 months ago

    groceries and vacations

    Fuck you for acting as if the growing price of basic needs is in the same category as vacations

      • FooBarrington@lemmy.world
        28·
        10 months ago

        Having a vacation away from your home isn’t required to rest, while groceries are required to not die. Yes, vacations away from home shouldn’t be a luxury only for the rich, but there’s still a fundamental difference.

      • hydrospanner@lemmy.world
        12·
        10 months ago

        Besides super low budget weekends away within 4 hours of home, I haven’t had a vacation since 2010. If not for a friend with a way to do that cheaply, I’ve never had a proper vacation in my entire adult life.

        I’m still alive.

        I feel like I couldn’t say the same if I went that long without food, water, or shelter.

        Not saying I like the state of affairs, but clearly it’s not the same category of “basic need”.

      • otp@sh.itjust.works
        4·
        10 months ago

        There’s a difference between vacations as travelling for leisure, and vacations from work as leisure.

        Usually, “vacations” makes me think of the travelling kind, not the “break from work” kind.

    • Neon 🏳️‍🌈🇺🇦🇪🇺🏳️‍⚧️🇹🇼🇮🇱🏳️‍🌈@lemmy.world
      2·
      10 months ago

      you read a lot of blame into this Article where i don’t see any.

      It simply explains why Millenials don’t save up.

      From not being able to because of inflation to “revenge-spending” and “doom-spending” i think the Article does a good Job explaining the reasons why different People don’t save up. And it never puts the Blame on Millenials. It always explains why they’re not saving up.

      read this:

      “doom spending,” in which consumers (mostly younger ones) purportedly shop with abandon to soothe anxieties from economic, environmental and geopolitical forces they can’t control

      it doesn’t put the Blame on Millenials and instead puts it on the Factors (and by Proxy the Politicians that let them get out of control).

      • queermunist she/her@lemmy.ml
        8·
        10 months ago

        I don’t believe revenge spending or doom spending are real things, that’s just bullshit they made up to make sure that the ruling class does not get blamed. Sure, they say the soothing bullshit “aw baby its not your fault you waste all your money” but it’s still a fucking lie.

        We are on a financial cliff because this is how capitalism is supposed to work. Income and expenses are supposed to be as close to even as possible, that’s “efficiency”

  • sayitghoul@lemmy.world
    62·
    10 months ago

    What a joke.

    I’m a millennial and I don’t choose to do anything, we’re forced to only spend our money on necessities such as food, because we can’t afford anything else.

    I’m no better off financially today than 14 years ago when I earned a third of what I earn now.

    I’m still living month to month, because all basic necessities keep increasing faster than my wage increases.

    My last holiday was in 2016.

      • Synthuir@lemmy.ml
        28·
        10 months ago

        Just need to have at least one in-demand graduate degree and speak the language of the country you’re moving to (and/or can claim blood citizenship) and have savings and a job lined up. Easy-peasy when you can’t even afford a vacation!

      • TheEntity@kbin.social
        8·
        10 months ago

        Just more PTO won’t help either, unless you consider sitting at home a holiday. I live in Europe and my last proper holiday was in the 00s.

    • Paddzr@lemmy.world
      4·
      10 months ago

      My income almost tripled in 8 years, i had a better life then. We weren’t doing great by any means but the prospect of owning a house was out there.

  • tsonfeir@lemm.ee
    44·
    10 months ago

    That’s what they do, get you used to poverty, and then you say stupid shit like, “it could be worse”

    • Zedd @lemmy.dbzer0.comEnglish
      7·
      10 months ago

      That’s what angers me about these articles. Millennials graduated high school to the Dot Com burst. We took out a bunch of student loans after not being able to find any work, graduated to the great recession. Spent a decade trying to pay down our student loans to 0 effect. Then got hit with the pandemic. We’ve given up on there being a future. Why the fuck should I put money in a 401k to prop up billionaires’ fortunes? My wages are never going to be enough to retire. I might as well have some fun now while my body isn’t completely broken.

  • AnneBonny@lemmy.dbzer0.comEnglish
    17·
    10 months ago

    Millennials and Gen Zers are pulling in bigger paychecks, but much of their spending power is fueling short-term purchases like groceries and vacations, not savings.

    …

    Savings is not a purchase.

    • otp@sh.itjust.works
      4·
      10 months ago

      much of their spending power is fueling | short-term purchases like groceries and vacations |, not savings.

      I think it was pretty clear. The “like” is just giving an example of the short-term purchases. So it’s saying “fueling short-term purchases, not savings.”

      You actually interpreted the opposite of what it was saying.