Millennials are children of the Great Recession, which like it or not profoundly colors our habits. The halcyon days for retailers of gen xers maxing out their credit cards on discretionary expenditures are over, in my view. Except maybe when it comes to car payments. Idk I could be wrong on this.
Edit: there’s also just less meat on the carcass, what would have previously been spent on luxury goods is now being spent on bloated housing costs and onerous student debt
Checks out. The people I know who are "doing well" are all focused on buying a place, which almost always means a 1BR apartment. As for car payments, they seem to buy their cars outright.
Millennials are children of the Great Recession, which like it or not profoundly colors our habits. The halcyon days for retailers of gen xers maxing out their credit cards on discretionary expenditures are over, in my view. Except maybe when it comes to car payments. Idk I could be wrong on this.
Edit: there’s also just less meat on the carcass, what would have previously been spent on luxury goods is now being spent on bloated housing costs and onerous student debt
Checks out. The people I know who are "doing well" are all focused on buying a place, which almost always means a 1BR apartment. As for car payments, they seem to buy their cars outright.
I have plenty of money yet I still feel guilty spending money eating out. I'd agree with you.