Hmm. this is interesting....
I just found out millennials are in my age group but This is what I see around me in my age group. New cars big houses college educated neighbors with kids. They have to have money right? I mean they show it off like there's no tomorrow.
According to the article not likely .
Nearly 3/4 have less than a thousand?
Older millennials are not much better.
Who are the 33% who have nothing?
Why?
Still shocking to me that I made the top 15%
Why are these numbers so bad? In my not so humble oppinion, because we are always in a competition with our neighbors. Who of us went black Friday shopping? How many of us went further in debt doing that? How many of us were talked into buying that brand new car or truck? How many of us just had to have that vacation, furniture, House, Electronics, or ATV.
We have this "pay for it later" attitude. We feel rich from our possessions yet as with the example above most of us don't even have a thousand dollars!?
Total national numbers with all age groups is still horrible.
It is not an income problem!
It is not a job problem!
It is a money management problem!
Did you know that an average American spends over 280,000 dollars in interest in his or her lifetime?
Did you know the average car payment is 479 dolllars add monthly car insuranse and your looking at paying 550 a month.
That's 6600 dollars a year.
Did you know that the Averge credit card debt per household is around 15 grand? Average monthly payment is 627 dollars a month! that's over 7500 a year!!
It's not a money problem.
It's a money management problem!
Get rid of the car loans, credit card debt. Stop taking vacations you can't afford!
Because guess what?
Slowly more and more if us are fuguring it out and we are not going to be there to help when you fall. Nope we will be there to buy up your mistakes at a fraction of what they are worth.
Live within your means or your wants and needs will control you.
No comments:
Post a Comment