What is Digg?799 Comments
- edstate, on 08/05/2008, -45/+406Attention youngsters: you don't DESERVE *****. Get that out of your head right away. And just because all those athletes, rappers, movie stars, or even those awesome role models on The Real World have cool *****, wear expensive clothes, and go out all the time and party, does NOT mean you can, or should. In fact, it's the exact opposite. Simply put, Paris Hilton isn't cool. In fact, she's a ***** whore. Do the OPPOSITE of what she does.
Don't get weird piercings or tattoos on your face or arms either. In fact, do yourself a favor, and don't get ANY tattoos or piercings until you're in your second year of college. The trick here is to "be employable".
Don't get a credit card until at least your second year of college either.
Speaking of college it’s ***** expensive (thanks to your Government’s insistence on “cheap” money) so, if you get a student loan DON’T USE IT TO PARTY WITH, and start paying it back right away. Even before you get out of college, if you can.
Start saving with an IRA, or the like, as soon as you can, and don’t touch it. If you’re asking yourself “why” do yourself a favor and look up “compound interest” on teh internets. Now.
Read a book or two on economics. There are a bunch of good, easy to understand ones like “Freakonomics”, “The Undercover Economist”, and especially “Basic Economics” by Sowell. It will be like a whole new world has opened up for you. No *****.
Make a budget and stick to it. It doesn’t have to be by-the-numbers, necessarily, but in essence don’t spend more than you make, put away some money each paycheck for retirement, and savings mid-term savings. Pay all of your bills on time, every month. A bad credit score is a hell of a thing.
/diatribe off - mnemy, on 08/05/2008, -17/+223Here's a hint: Dont spend what you dont have. If you go to college, get a degree in something useful. And no, a BA in English is NOT useful.
Don't buy a brand new car when you get out of college. Don't add more debt to the pile. Pay off your loans early, then think about spending money on "nice things". - inactive, on 08/06/2008, -4/+96Uh, the girl in the video is borderline retarded. "I don't do math, OMG I overspent." I think Daddy basically cut her off last year and she didn't know what to do. Most people I know are not this fiscally irresponsible...granted their are a few that are, but as a 23 year old that did graduate from a prestigious university (with minimal debt...that is now paid off) I view her as an exception to the rule. How can you have a masters and still be that stupid? What did she major in? Nigerian Stamp Collecting? It just boggles my mind.
- inactive, on 08/06/2008, -9/+96It's called: don't buy ***** you can't afford.
- honkfrog, on 08/06/2008, -5/+82I don't think this is a generational "problem", it's an economic problem. I'm out of school with $60,000 debt in student loans. I would have saved with investments during my education, but then I would have been denied student loans because investments count as income. I can't invest in anything now because the return interest rates for investments are far smaller than the usury on credit.
Nobody told me before I started university that when you're done, you have to pay over 600/month for the next 10 years of your life.
Combine that with low starting wages, and you have an impossible system.
Even with eating mac & cheese every day and not owning a vehicle, the simple fact is that the cost of living plus student loan payments is larger than starting incomes.
You want to decide whether I'm dumb or lazy? How about option C: screwed over? - PacoDEmu, on 08/06/2008, -1/+73yeah, finding a job isn't terribly difficult, it's finding a career that makes use of my college education that pays enough to cover today's outrageous living costs is the hard part.
- inactive, on 08/06/2008, -13/+84Crap article.
Blaming kids for parental failure.
Economy's entirely different, the job market is entirely different, education system is entirely different, families are completely different.
And by different, I mean broken. - cryonix, on 08/06/2008, -10/+73good luck with finding that second job... in fact, good luck with finding just a job.
- StingingNettle, on 08/06/2008, -20/+76I blame the 50's and 60 somethings who raised us!
- blackolive, on 08/06/2008, -9/+61"20- and 30-somethings are in a financial mess. Is it because we're dumb?"
Don't mix the spoiled tech boom generation with the younger people growing up in a recession.
In fact, don't blame a whole generation for a few spoiled brats you saw. - richmomz, on 08/06/2008, -0/+49It's not a generation issue. Gen X-ers like me were not much wiser with their finances when they first got out of school, and I know several boomers that spent way beyond their means (mostly because of the booming housing market and easy credit) and are now on the verge of losing everything. The GOOD news for Y-ers is that you are still young and have time to make things right.
- AlbinoRaven, on 08/05/2008, -12/+59Ummm, spend less is the only feedback I can suggest. Combo that with a second job. If you're young you've got energy and time.
- wburglett, on 08/06/2008, -0/+47There is no other instance of the term "Nigerian Stamp Collecting" on google. Congrats
- Hetman, on 08/05/2008, -6/+52"he median credit-card debt of low- and middle-income people aged 18 to 34 is $8,200.
The average college debt for recent grads is more than $20,000 and rising."
I do not feel so bad about my debt anymore. All I owe is 400$on my credit card. Unfortunately I still owe about 10k on my student loans, and I also need to take out another 3-5k to finish my degree. Oh well that is just one of the facts of going to college. I am just happy that I do not have another 8k worth of credit card bills. That would be very difficult for me to deal with right now. - cawpin, on 08/06/2008, -10/+55 I really wish they would stop redefining Generation X/Generation Y. I associate with GenX myself and I'm 28. I associate GenY with the ***** that want everything handed to them.
This article is full of *****. It isn't 20/30 somethings that are in a financial mess, it dumbasses. You have to TRY to screw up your finances. Taking out loans for school is one thing. It's expected to take a while to pay off. I consider myself extremely lucky in this area. I went to Purdue, one of the top engineering schools in the country, for $8k. That's total, not per semester or per year. My mom works there so I got 51% off tuition and 20% off books. For this I am EXTREMELY grateful.
However, several of my friends went to college on their own dime, working 40 hours a week while doing so and they aren't hurting financially right now. If you don't spend recklessly you don't get in trouble. - HarryManback, on 08/06/2008, -6/+50If you want to get laid, go to college. If you want an education, go to the library.
-Frank Zappa - dafrodaddy, on 08/06/2008, -29/+72Actually, I DO DESERVE my ***** because i do my job better than the 35, 42, 50something year olds i work with. I find it quite pathetic that your generation has created so many "hot air" positions where you can simply pay younger, more motivated individuals like myself to do your dirty work while you sit in your corner offices making others do the jobs that you so "rightfully deserve". Is it just me or has the baby boomer generation found it very convenient to abuse the ***** outta 20-30 year olds trying to "make it" in NYC so they can make more money?
Maybe I speak for a minority of my generation but I'm here to knock yours as well. And by the way, I'm 24 with a degree in Business Administration. I put 6% (highest fully matched amount) of my paycheck into my 401k, have a personal Roth IRA, ($100/month) and have 0 debt. I also party my ass off, buy expensive clothes, and do drugs like Paris Hilton. Maybe if your generation knew how to teach responsibility we wouldn't have so many f'd people in my generation. - jer2eydevil88, on 08/06/2008, -0/+43The fastest way to building wealth is by avoiding large purchases that depreciate over time such as cars. SNL has an excellent skit that really drives home some of todays financial mess.
http://consumerist.com/consumer/clips/snl-skit-don ... - Pecheckler, on 08/06/2008, -9/+50Just graduated. Can't find a real job. Economy Sucks. No Jobs.
Added up my student loans, and credit card debt, and calculated my monthly payments.
Added that to my soon to be rent, utilities, food, transportation, and medical insurance.
Compared that number to my current income working part-time at a dead end bitch-slave job.
No ***** clue what to do now. Help. ='( - Spudster, on 08/06/2008, -6/+45No, there are plenty of jobs around where I live. Good luck finding a job that provides a living wage.
- inactive, on 08/06/2008, -15/+49Because the Boomer generation is hypocritcal and greedy. They have destroyed the Earth through pollution and unchecked suburban sprawl and destroyed the U.S. educational system, healthcare system and economy so they can have Golden Parachutes and outrageous pension and benefit packages. The Baby Boomer generation is the most selfish, self absorb, hypocritical and corrupt of any generation.
- banmaster, on 08/06/2008, -2/+35Remember, Bush 'graduated' from Harvard and Yale, so yes, you can be a stupid ***** and still pass college.
- ZenMojo, on 08/06/2008, -9/+41Maybe because the economy is in the *****, there are twice as many of us as Gen X'ers, college prices rose by about 25%, and older, experienced workers are competing for the same jobs as we are?
Oh, no, it's because we're lazy and can't balance our checkbooks. Of course! - natenovs, on 08/06/2008, -1/+31get off digg.
- greengarfield, on 08/06/2008, -8/+38Because they take example on the previous generations that put this country trillions in debt...no one wants to take responsibility for all this crap
- richmomz, on 08/06/2008, -2/+32The Boomers are definately not a model for fiscal conservatism. Our grandparents knew how to save and not live paycheck to paycheck, but that style of living is unfortunately long gone.
- natenovs, on 08/06/2008, -1/+30"Be employable to whom?"
the personal that is going to give you money to pay your bills. - edstate, on 08/06/2008, -18/+47Whate, are ***** 12?
You clearly did not read my post.
I have absolutely read the book, and nowhere in my post did I say, or insinuate that it had to do with budgeting. It's a great book for understanding the far-reaching nuance of economics, how important it is to everything we do.
There. You complete ***** idiot. - saikyan, on 08/06/2008, -0/+28Get out of Detroit, dude. There's your first problem.
- perogi21, on 08/06/2008, -1/+28Actually, 20-30 years ago, those people said exactly the same thing that you just wrote.
It's called "moving up the corporate ladder". If you don't like it, find a new job or create your own company. - lisaemily, on 08/06/2008, -6/+32This whole country is broke; filled with false dreams and an addiction to gidget-gadgets. Have you noticed that America's favorite way to spend time is to go shopping!?!?!
- petebot, on 08/06/2008, -4/+30I'm burying you because I'm not going to blame the FED for my personal money problems.
- drmangrum, on 08/06/2008, -2/+28That's your problem. CIS = help desk.
- zydeco, on 08/06/2008, -1/+27You're right, it's their loss, but like conwaysb0718 said above, the list of available jobs to you will be a lot smaller. Translation: you're not going to go as far.
If you're cool with working as a barista or skate shop clerk, cool. Lots of people do it and are super happy. But if you are even *thinking* of working with other people or starting a business - you're going to have to deal with THEIR prejudices and standards. And you can't change those as easily.
It's easy (and very Generation Y, it seems) to declare "***** 'em if they can't accept me", and maybe that's part of the problem. You're gonna have to play the game until you're the generation in charge, and when that finally comes around, you're gonna have to deal with a NEW generation of uppity brats that want things THEIR way. Welcome to life. - fadetoone, on 08/06/2008, -2/+27I'm 27 and I'm doing quite fine.
- socalftw, on 08/06/2008, -2/+27But they were offering me a free candy bar and t-shirt on campus if i signed up for their credit card.
- Mist0r_Wiggles, on 08/06/2008, -3/+28all these things to do, leave no time to masturbate...
- edstate, on 08/06/2008, -3/+26Also, if you think you're the only 24 year old that is smarter and more capable than some half-retarded middle manager who, by some miracle of oversight, cronyism, and luck is wrongly inhabiting YOUR rightful corner office... get in line pal. And read The Fountainhead. ...oh, and don't be so haughty. It's unbecoming.
- takameyer, on 08/06/2008, -1/+23I've finally starting taking control of my budget and finances...this article hits home on the situation that I am starting to dig my way out of.
- BlackJackJester, on 08/06/2008, -2/+23BA in english is very useful, but you need to know how to use it. Professors are necessary, and it goes hand in hand with journalism and writing. It is far from useless, but that doesn't mean you have to go to Stanford to get that degree.
- Conwaysb0718, on 08/06/2008, -1/+22No, what hes saying is dont have a mohawk, neck tats and nose ring and expect to be treated the same as a clean cut "conformist", because unless you work in a tattoo parlor,skate shop, etc. they dont want you being the "face" of their company.
- inactive, on 08/06/2008, -1/+21You are probably doing fine because you're a hard worker and don't go around saying something can't be done because gas is too high or inflation is too high or the fed is a bunch of meanies..People need to take responsibility for themselves..Congratulations on your success !!
- skoles, on 08/06/2008, -6/+26***** expensive and we're not getting paid enough.
- chrysrobyn, on 08/06/2008, -1/+20Live with your parents as long as they allow, so you can save on the rent, utilities and maybe food part. Skip the medical insurance, unless you're really in a bind. Transportation should be the most beat up Toyota you can find, and it won't cost much -- if mass transit doesn't come within a mile of you. Cancel the cell phone and WoW subscriptions, never waste money on coffee someone else makes.
Pound the pavement, beat the internet, don't get off the phone. Call everything related to your major (get your Alma Mater's career development center to help get a list), then take a go-round with the headhunters. If you're still dry, spread out from your major. Once you have a job that makes ends meet, you can then worry about having a job you like. Once you have a little experience, you might be able to take a crack at pimping yourself out as a consultant.
If you're in a dead-end-bitch-slave job, the first step is fixing that. You don't have enough money for fun and acting like you owe yourself luxuries is going to kill you. - str3ama, on 08/06/2008, -2/+21Gen Y - it's hilarious, sometimes they refer to Gen Y as those born in the 1990s, while sometimes they stretch out to even those born in the 70s. Regardless (I'll assume I'm part of gen Y), and I think they're stereotyping the entire generation by just a few convoluted cases.
No other generation received financial training, hence why there are pools of people in each generation that are just horrible with finances. I have friends who spent University Bursaries and Loans on gadgets, clothes and partying. These are all people who honestly even with financial training would still have spent their money frivolously - it's more a psychological problem then one of lack of education. Between a keeping up with the Jones type mentality and wanting to always have the newest gadgetry (upgrading cell phones every 5 months, buying the newest IPod, etc) - it comes down to people living beyond their means because they want to show off. When people get sad, they comfort themselves by shopping. - edstate, on 08/06/2008, -0/+19Meh. Decent overall advice, but not a lot of suggestions for "making your money work FOR you" aside from investing in real estate.
In fact, IMHO, I think this guy is at least partly to blame for the housing bubble. - geneticlemon, on 08/06/2008, -1/+20A BA in English is extremely useful if you know how to use it. Companies like Amazon, Microsoft, Google, Boeing ... they all need technical writers. And these guys are pretty well paid.
As for those English majors who read Chaucer all day and translate Old English into Middle English ...? Yeah. That's pointless. - airwalkery2k, on 08/06/2008, -6/+25Generation Y? More like "Generation WHY?!?!" Amiright amiright? I'll be here all night.
- Skooma714, on 08/06/2008, -0/+18I loved how the my teachers in HS made it sound like Uni was a really smart financial decision and if I asked nicely people would pay me money to go to college.
- Brew, on 08/06/2008, -4/+22Speaking of I just bought some nice surround sound speakers for my College Dorm... Now the only thing is where can I scrape the money from to get my HDTV...I guess I don't really need books that bad this semester.
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