Generation X or Generation Less?

Mar 10, 2015 | Finance

Yes, I said it right.  According to a report from Pew Financial Security, Generation X (those born between 1965 and 1980) are less wealthier (or poorer) than our parents.

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Courtesy of dollarphotoclub.com

How is that possible?

We make FAR more than our parents could have ever imagined even with inflation and cost of living adjustments.

But, according to Pew, it is not what we make that is contributing to this statistic, it is what we spend.  We have nearly six times more debt than our parents had when they were our age.  Six Times!  Grant it, most of this debt comes from student loans, but other reports show:

We spend more money on vacations

We spend more money on eating out

We spend more money on clothing

We spend more money on electronics

We just spend money overall!

So the problem is not just all of the student loans some of us had to get, it is the spending we continued to do once we received that new salaried job with the big title.

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We Did It, Again?

Mar 1, 2015 | Finance

I could not believe we did it AGAIN.

How could we have been so irresponsible?

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Courtesy of dollarphotoclub.com

It’s not like we did not know the implications of our actions. We were (or at least I was) just caught up in the emotions of wanting what I wanted, when I wanted it, and I always seemed to have wanted it NOW.

After we had paid off thousands of dollars of debt (car loans and credit cards), we found ourselves right back in the same position—back in credit card debt!

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