Okay, thank you for clarifying. I remember being young and having less responsibilities, I made significantly less money than I do now but nearly everything I made went towards recreation aside from my cell phone bill and saving for a car. I didn’t actually start building a real savings till I was in my early 20’s when I finally made enough to move out.
Anecdotal, I know, But I think it’s important to keep in perspective that young adults are new to spending and saving, and because they’re young and have no experience, we don’t yet trust them with big responsibilities, so they get entry level, low paying jobs to start out with. They might not get savings options for retirement, and barely make enough to bother with it, honestly.
But being new to making money at that age, part of that process is learning to spend and save responsibly. That usually means a few years of just recreational spending and maybe a few minimal bills before reality sets in and they take on more responsibility. I don’t think that’s a bad thing, a lot of that recreational money from younger people props up all kinds of industries.
Would it be great if we all saved from a young age, Absolutely! The sooner the better. But at that age, young adults still gotta grow up a little bit before they really think about that stuff. And personally, I think they should take that extra freedom and lack of responsibility and spend it with their friends, before life and other responsibilities get in the way.
Nothing against their spending habits. I think it’s good for your early experiences with working, usually poor, get offset by the fact more of that income is disposable. As you get older though you’ll see less and less disposable income (as a percentage) and you pay greater attention how politics can affect your standard of living.
Okay, thank you for clarifying. I remember being young and having less responsibilities, I made significantly less money than I do now but nearly everything I made went towards recreation aside from my cell phone bill and saving for a car. I didn’t actually start building a real savings till I was in my early 20’s when I finally made enough to move out.
Anecdotal, I know, But I think it’s important to keep in perspective that young adults are new to spending and saving, and because they’re young and have no experience, we don’t yet trust them with big responsibilities, so they get entry level, low paying jobs to start out with. They might not get savings options for retirement, and barely make enough to bother with it, honestly.
But being new to making money at that age, part of that process is learning to spend and save responsibly. That usually means a few years of just recreational spending and maybe a few minimal bills before reality sets in and they take on more responsibility. I don’t think that’s a bad thing, a lot of that recreational money from younger people props up all kinds of industries.
Would it be great if we all saved from a young age, Absolutely! The sooner the better. But at that age, young adults still gotta grow up a little bit before they really think about that stuff. And personally, I think they should take that extra freedom and lack of responsibility and spend it with their friends, before life and other responsibilities get in the way.
Nothing against their spending habits. I think it’s good for your early experiences with working, usually poor, get offset by the fact more of that income is disposable. As you get older though you’ll see less and less disposable income (as a percentage) and you pay greater attention how politics can affect your standard of living.