Tuesday, August 05, 2008

Financing Generation Y

I read MSN.com a lot. It’s like my newspaper in the morning only it doesn’t leave my fingers black with newsprint. I like glancing over the articles when I have a little free time in the morning at work, and I think that’s because I don’t feel like anything is written over my head. The newspaper tends to have stuff in there that I just don’t care about.

I find myself reading the money articles on MSN most frequently. They appeal to me because they seem to be focused largely on my generation, and our general lack of financial knowledge and responsibility. The fact of the matter is they are right. I’ve done some stupid stuff with money I don’t yet have…thank you very much Mr. Visa and car loan. But I feel like my wife and I have taken very serious steps towards shedding the want it now, buy it on credit mentality. Actually, to be fair, she’s never been that way the whole time I’ve known her. So it’s more accurate to say that she has helped me to shed that mindset. The rest of our generation thinks differently however, and MSN thinks that enough people think differently that it deserves and article. (http://articles.moneycentral.msn.com/Investing/HomeMortgageSavings
/WhyGenerationYIsBroke.aspx?GT1=33011)

Some of it is a sob story. Some of it has legitimate points and concerns. But there was one point in summary of the whole thing that got me thinking enough to put together a blog entry. It poses the question “Is generation Y dumb? Or just lazy?” If you read the article, there is a threaded forum discussing the ins and outs of this very question. Everyone has something to say from “my son is in this age range and he’d rather play then work on a nice day… blah blah blah.” Yeah, wouldn’t we all? That’s got nothing to do with the generation. To “I’m not sure the author got the dates of what defines Generation Y right?” Apparently they all missed the point.

When it comes to the protection of our finances, social security number, annuities, the very foundation of our monetary future, no one can afford to be dumb or lazy, regardless of generation. So when the question is posed “are they stupid, or are they just lazy?” I have to respond, “It doesn’t matter. Either attitude will lead to you being broke.”

1 Comments:

Anonymous Anonymous said...

How mature of you -- guess you aren't lazy or dumb.

Love,
Me

3:53 PM  

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