money doesnt mean much to this Gen

Not sure what they call this Gen ? Is it Y ? But i believe any couples in their 20's have it far nore diffucult now in terms of buying a house than ever before,

But having said that, this Gen has never been thru the times when 1 million people plus were unemployed.
Last Friday night walking home along Oxford St i noticed young women and guys in their 20's lining up to get into nightclubs , maybe their salaries are high but isnt it a waste of money if your not paying off your own apartment?

There are tenants in my building both straight and gay couples in their 20's with cars worth over 100k obviously paying them iff with finance,but they still rent their apartments.

I own my own apartment outright as well as a few IP's but i cant afford a car and even if i could i wouldnt want a top of the range car .
I have to walk or get a bus .
Image seems to be the big things nowadays for this Gen.

Sometimes i meet my next door neighbours getting into the lift in my building to be greeted by a gay couple usually a guy in his 40's or 50's wearing a tight expensive T shirt standing with his usually younger Asian boyfriend 20's holding a cute puppy dog and he 'too is fitting the gym image wearing expensive t shirts sunglasses etc whilst they look down at me with my long beard black hat and coat and they are renting their apartment.

The current image of this Gen seems to get tribal tattoos, go to Bali or Thailand every year, go to nightclubs every weekend, cafes, buy your lunches etc and use credit cards and buy $300 T shirts .
I dint need to buy cakvin klein undies ir nike t shirts .
Then they wonder why u cant save a deposit for a house .

 

You are enjoying your life with paid off PPOR and IPs. They are enjoying their life by going to night clubs and riding flashy cars. No one is wrong or right. Just a different perspective. They might not want to buy a house or earn enough to drive 100k car and pay their travel costs

 

Shalom DB.

Focus on your game....I have plenty of people look down at me...but do I care not really.

So long as they don't whinge about why they can't get ahead or ask for rent reduction or ask me as a tax payer to subsidise their lifestyle vive la difference.

If you are living in Darlo....lots pink dollars which is very lifestyle focused....

 

Did anyone listen to Hack this arvo? It was based on this

 

what Sash said
play your own game. The most happiest people are the ones that allow others to just BE.

 

Hack who???

 

Hack is a segment they have on triple j weekday arvos from 530 to 600.

Today was about this generation (20s) will have it the hardest out of previous.

Focusing on hecs debt and housing unaffordability.

 

I prefer 2gb with Ray

 

You must be in your 60s

 

Each to their own with their own priorities.
When I tried on my first pair of CK undies I was a changed man.
Dude, you have no idea how comfortable they are.

Sometimes you do get what you pay for.

I wouldn't be worrying so much about other people's business. Worry about your own mate.

 

So how are any of the things you listed different to the generation before? People in every generation **** away their money on things they don't need. It's nothing unique to Gen Y. Sure, what the money is wasted on changes, but fundamentally it's the same.

It seems many people on these forums enjoy making ridiculous generalizations about an entire generation based on some people they see around the place.

Just goes to show, you can be as financially literate as you like and still be ignorant. What a pity.

 

You worry about yours and mind your own boring drivel business, stay off my threads , why are you replying on my threads, mind your own business.
I have put you on ignore BoringBob, please dont reply to my posts again, you are a bore who only has his CK undies to look forward to everyday.

 

Generalizations? In general its guys and girls between 18 and 25 going into nightclubs sweetheart , not some old bloke with a walking frame at 80 !
So the generalisation is.... Its younger people going into nightclubs... Is that too hard to understand? Am i being too general ? And you say " oh thats a ridicilous generalisation"
Omg ... Think before you write sweetie.

Maybe your a Grandpa that still likes going to nightclubs and if you are good luck to you .

 

That's great, so because you see some guys and girls aged between 18 and 25 going into nightclubs, every member of that generation is the same?

Get my point now?

 

I agree with some of the other posters earlier on in this thread; play your own game. I'm a Gen Y, and that profiling you mentioned @Darlinghurst Boy does not fit me personally, however I do see some people of my generation fit the image you describe.

But then again, I know a stack of Gen Y's who are the very opposite of this persona. Living modest lives, not excessively spending on trinkets and over-indulgences. Instead, they are paying down their PPOR's and saving/investing too.

Who among us can define what happiness is. Each their own; whatever makes folks happy. I only hope that those who live the youthful spend, spend, spend lifestyle are fortunate enough to have government handouts available that they may need, in their 60's or 70's.

With the way things are going with public welfare spending, I shudder to think what public health, pension, and services support will be available for gen y's like myself, when we are 60 or 70.

In fact, that shudder felt many years ago (I'm 34 now, started investing at 26), provided much of the motivation for me to get into property investing in the first place...

 

You could use your argument against anything .
The point is the majority going into nightclubs are young people not Grandma Moses and Moshe .

Sorry dear if your 34yo i didnt mean you , your not young in todays world ,your old, and if you tried to get into many of the nightclubs here in Oxford Street they would stop you ,maybe i have the wrong Gen .. But i mean young people under 25 .

 

Mate....that is pretty judgemental...the people who are not planning for the future may not be able to afford to live in Darlo.

So in the end it all comes out in the wash.

I take it that you are Jewish Orthodox?

 

The point you seem to be attempting to make is that Gen Y are spending all their money on useless things, like it's something a) unique to this generation and b) that every member of the generation is doing. You base this on...some people you see going about your daily travels. A huge sample size!

This is called 'generalizing', per the definition I provided.

Not every member of Gen Y blows their money on crap, even though you might like to think so.

Furthermore, spending your money on crap is nothing unique to Gen Y. Members of generations before and generations after will be doing the same thing.


Let me put it this way: I once had a conversation with a bloke from Darlinghurst. He was a terribly ignorant person, who made judgements about entire groups of people based on his own extremely limited experience.

From my conversation with this guy, I ascertained that everybody from Darlinghurst is a *****. After all, he was from Darlinghurst, so they must all be like that, right?

 

Generation Less: Why we're worse off than our parents