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.
I may be somewhere in the middle. I see students around me traveling the world like it’s nothing, eating and drinking out all the time… Maybe they’re doing something right. I’m saving up half of my salary every month but for what? It’s never enough to own my own home and I’ll never retire anyway. Maybe having a little luxury right now instead of saving for an unknown isn’t that bad.
I got some advice and I’m still living it so I can’t say if it’s worth it but:
“Spend money on the things you enjoy and cut everything else to the bare minimum”
So if you like having a nice house more than going to a sporting event you shouldn’t be budgeting for the sporting event. Just don’t go. If you love great food but hate driving, buy kitchen accessories not dinners. That sort of thing.
I may be somewhere in the middle. I see students around me traveling the world like it’s nothing, eating and drinking out all the time… Maybe they’re doing something right. I’m saving up half of my salary every month but for what? It’s never enough to own my own home and I’ll never retire anyway. Maybe having a little luxury right now instead of saving for an unknown isn’t that bad.
I got some advice and I’m still living it so I can’t say if it’s worth it but:
“Spend money on the things you enjoy and cut everything else to the bare minimum”
So if you like having a nice house more than going to a sporting event you shouldn’t be budgeting for the sporting event. Just don’t go. If you love great food but hate driving, buy kitchen accessories not dinners. That sort of thing.
I’m not explaining it as well though