Here’s another interesting article. It talks about how people my age (25-35) view spending differently than our parents did. Well, duh.
Our generation is a bit more thoughtless with our money, mostly because credit is so accessible to us. It’s nothing for us to get approved for a $5000 VISA card one week, and be approached the next for a $5000 MasterCard.
The article also talks about how our values are much different than the previous generations. We’re generally not in a hurry to settle down, buy a house and start a family. All the things that you need to save for, aren’t necessarily important to us. We’d rather add to our debt (student loans, lines of credit) to take a 6 week vacation in Bali. And worry about the defecit we’ve incurred later.
So- what do you think? Are we reckless with our income? Do “savings” mean anything to us?
Personally, I’ve got $2500 stored away, just waiting to be spent on a vacation, whenever and wherever I decide to take it. This the fruit of three years of mindless saving. BTW- I’m taking suggestions on where exactly to go. Who’s up for a holiday?!?