If our economy is so bad, how can so many millions of people afford a new iPhone every time one comes out? Many of these people are young adults. I see them on facebook, all bragging about their newest acquisition. It makes me wonder. Are they paying their credit card bills? Are they paying back their college loans? Are they saving for their kids' college? Of course I don't know; but I have a feeling that for many of them, having the newest gadget might come first!
Husband and I were discussing this last night, and we totally agree with you. In the UK young people moan that they cannot afford to buy their first homes - I would just love to make them add up how much they have spent on electronic fripperies between, say, the ages of 17 and 25. I'll bet that it many cases it would add up to a sizable deposit on a home.
ReplyDeleteThe concept of saving up for their future seems to have escaped them!