Let's help young working people save for the future....What's your idea?

[Woodznutz]

Boomers telling Gen Z how to save. Comedy genius.

I dunno. They might have some good ideas.

How Boomers became the wealthiest generation

Boomers benefited from conditions that made wealth-building easier, while younger generations face steeper challenges.

www.newsweek.com

 

[Woodznutz]

While the rest of your post is your typical bs........I do agree with this part and to make it mandatory. Teach them they need to get a job and how to get a job, how to budget, do yearly taxes and include savings. Showing them that if they saved even as little as $10 per paycheck, and investing that.....how much they'd have in 20, 30 & 40 years with interest. Also how to change jobs to improve their lives. Include their credit standing, etc

Youngsters can't see that far into the future. Ironically, as we get older, we can see farther into the future, even as the days of our lives decrease.

 

[Woodznutz]

There's some truth in that given how my generation would go through two or three wives and have kids with each one and still be debt ridden.

Of course the ones that did that are either still working or got on SSDI "disability". Not much of an example to follow sure enough.

Boomers are the wealthiest group in our history. Perhaps an accident of history, but nonetheless true.

 

[Correll]

When me and my wife were in debt reduction mod, one thing we found that helped reduce our cost per meal was PANCAKES.

Even made from the box, filling and insanely cheap. Get good syrup and butter for flavor and eat them for every breakfast and sometimes lunch and you can get your meal cost down massively.

Even MORE saving and even tastier if you make them from scratch. Only slightly harder.

You can have veggies and meat for dinner.

 

[WorldWatcher]

When me and my wife were in debt reduction mod, one thing we found that helped reduce our cost per meal was PANCAKES.

Even made from the box, filling and insanely cheap. Get good syrup and butter for flavor and eat them for every breakfast and sometimes lunch and you can get your meal cost down massively.

Even MORE saving and even tastier if you make them from scratch. Only slightly harder.

You can have veggies and meat for dinner.

If younger folks want to save money stop ordering food out and for deliver such as Door Dash, Uber Eats, Grubhub, etc.

If you are that hungary can I suggest Ramen Noodles, cut up a couple of Hot Dogs, throw in some match stick sliced radish and baby carrot with some shreded cabbage. After steeping, stir in 1 tablespoon of Medium Salsa for flavor. That saves money and ya, it's pretty good.

WW

 

[petro]

If they learned to live without the latest and greatest technologies would be a start.
New $1,000 dollar phone upgrades and expensive gaming consoles puts a dent in those wages, if they actually have a job.

Drive a beater and learn to maintain your own vehicle saves thousands.

Pass on the 7 dollar coffees and pack your own lunch, like previous posts have stated. Also give up the energy drinks which typically are 3 times more cost than a soda.

Second hand clothing instead of over priced designer crap. Sometimes the expensive clothing can be found at a thrift store that has never been worn.

 

[1srelluc]

When me and my wife were in debt reduction mod, one thing we found that helped reduce our cost per meal was PANCAKES.

Even made from the box, filling and insanely cheap. Get good syrup and butter for flavor and eat them for every breakfast and sometimes lunch and you can get your meal cost down massively.

Even MORE saving and even tastier if you make them from scratch. Only slightly harder.

You can have veggies and meat for dinner.

My wife got a pancake recipe from her mother that we use.....She makes up a big batch of the dry ingredients and puts it in a canister.

If we want a pancake or two she just scoops out a cup or two, mixes in whole milk, and there you go.

It's stupid cheap to make and much better than the boxed stuff.

 

[WorldWatcher]

If they learned to live without the latest and greatest technologies would be a start.
New $1,000 dollar phone upgrades and expensive gaming consoles puts a dent in those wages, if they actually have a job.

Drive a beater and learn to maintain your own vehicle saves thousands.

Pass on the 7 dollar coffees and pack your own lunch, like previous posts have stated. Also give up the energy drinks which typically are 3 times more cost than a soda.

Second hand clothing instead of over priced designer crap. Sometimes the expensive clothing can be found at a thrift store that has never been worn.

Just a couple of things for smart younger people:

Phone - A lot of comparnies will offer free phones (which may be a genration behind the latest and greatest), so learn to play Verizon and T-Mobile against each other after the "contract" period.

Actually Gaming is a great why to save money. Sorry Petro. I'm a geezer gamer, bought a new gaming PC about 3 years ago (about $2000), the other side of the coin is that if you game smartly it can be cheap, VERY CHEAP. As an example wait some time for sales on games. Instead of paying $60 for Baulders Gate 3 I paid $40. Then played the crap out of it with over 1,200 hours.

Say an average cost of $400 per year for the PC. $40 for a game that I played for well over a year is $40/1200 = $0.033 cents per hour. Total cost for the year was $440. Now compare that with going out to eat, going to the movies, renting movies, or other activitie.

Packing lunch agreed.

Smart clothes shoppoing agree. But I'm the guy whose uniform of the day at work was Rockport shoes (2 pair - 1 black and 1 brown), Deluth Cargo Pants, and a Polo Shirt.

WW

 

[rightwinger]

The challenge for young people is not that they spend too much on coffee

They graduate with too much debt, entry level salaries do not pay the bills, entry level homes are not being built, rents are too damned high.

 

[Woodznutz]

When me and my wife were in debt reduction mod, one thing we found that helped reduce our cost per meal was PANCAKES.

Even made from the box, filling and insanely cheap. Get good syrup and butter for flavor and eat them for every breakfast and sometimes lunch and you can get your meal cost down massively.

Even MORE saving and even tastier if you make them from scratch. Only slightly harder.

You can have veggies and meat for dinner.

Ironically, the more people spend on food the unhealthier they are.

"More people dig their graves with fork and spoon than any other means."

 

[Woodznutz]

The challenge for young people is not that they spend too much on coffee

They graduate with too much debt, entry level salaries do not pay the bills, entry level homes are not being built, rents are too damned high.

They are willing pawns of those who have inverted the concept of supply and demand. The suppliers now rule. There is no 'demand'.

 

[rightwinger]

Boomers…..If only you would pull yourselves up by your bootstraps you could afford the things I bought

 

[Correll]

My wife got a pancake recipe from her mother that we use.....She makes up a big batch of the dry ingredients and puts it in a canister.

If we want a pancake or two she just scoops out a cup or two, mixes in whole milk, and there you go.

It's stupid cheap to make and much better than the boxed stuff.

That's...pretty clever.

 

[Woodznutz]

My wife got a pancake recipe from her mother that we use.....She makes up a big batch of the dry ingredients and puts it in a canister.

If we want a pancake or two she just scoops out a cup or two, mixes in whole milk, and there you go.

It's stupid cheap to make and much better than the boxed stuff.

Gotta add some buckwheat mix (constipation ya know).