Smashed avocado war a distant memory as housing becomes too affordable.. ROFL

It’s **** coffee though

 

I was at a conference where Bernard Salt spoke last week. I was waiting for someone to bring him some avocado for afternoon tea.

His presentation was about the Tasmanian economy. He gave it a very positive spin. Everything he said suggested to me that it's at a peak and it's time to get out.

 

Extract from an AFR article:

But other Millennial-focused companies have not done so well. Shares in Raiz Invest, which helps Millennials to round up their spare change and invest it in the sharemarket, have fallen 72 per cent since listing on the ASX six months ago. Nevertheless, the business is expanding, with $254 million in funds under management compared to $200 million when it listed.

The Raiz business model is sound judging from research commissioned late last year by Afterpay to ascertain the attitude of Millennials to managing money. It found they are turning away from credit cards, are savvy at managing money, are saving more than their parents, and using technology to do household budgeting.

AlphaBeta CEO Andrew Charlton, who did the research for Afterpay, said Millennials had long been misrepresented as a young, narcissistic generation that spent frivolously. But using data from surveys and a range of official sources, Charlton found a generation with a greater willingness to save, a reluctance to use revolving credit on credit cards, and delaying the purchase of a family home.

"While it is true that Millennials manage and spend their money differently from their parents, their priorities are driven largely by new financial burdens they face," the report said.

"While Baby Boomers lived through an era of free education and affordable housing, Millennials are not as lucky. In 1970, Baby Boomers could buy a house for around five times the average household income. Generation X faced house prices of six times income. For Millennials today, houses now cost eight times the average household income.

"Similarly, Baby Boomers enjoyed free university education. By contrast, university-educated members of Generation X entered the workforce with more than $10,000 of HECS debt. Millennials now face twice the HECS debt of their predecessors, at $19,000."

Millennials are not spendthrift according to the AlphaBeta research. The areas of spending for Millennials that have experienced the biggest increase have been public transport (up 24 per cent) and private health insurance (up 23 per cent). Their frugality and health consciousness is clear from the study's findings that they spend 16 per cent less on alcohol and 71 per cent less on cigarettes than previous generations.

It is noteworthy that Charlton's research found Millennials have a high level of distrust of banks. Also, they don't think banks have been helpful in managing their finances.

 

I hear the leading cause of death in Regional Australia is boredom. Can you confirm?

 

coffee is a worse offender but doesn't get much press

not buying coffee for a year could be enough to save for a return flight to Italy

 

Making me think hard and guilty at same time

 

Yep, if you call easily being able to afford your home boring Some people just love the struggle, I guess!

 

Ahhh the memories

Cheers

 

I feel so ahead of the curve.

 

Yeh increase expectations, dont need increased income and grow all the avocados you want.