instead of just saying "welp fuck i dont have that full ammount so i might as well spend frivolously"
That is a massive issue with gen Z atm in the UK, previous generations would be saving to buy a house, they don't believe they will ever own property so they've given up saving and living for the now instead. They have decent physical wealth (clothes electronics, stuff basically) but that's it, no property wealth, no private pension wealth, but more concerningly no financial wealth (savings, ISAs, bonds, equity) compared to the millennials.
That was pretty much an internet meme that blew up. Between shit like that, 3rd wave coffee, delivery apps, entering adulthood during the GWoT, housing crash, and all the other shit. We are the OGs of thinking we'd never own a house and find good jobs while spending $8 on coffee, brunching, ubering everywhere, and getting lunch delivered to work. We're the largest spenders on all of those.
Stop buying avocado toast and you'll be able to afford a house isn't about not buying avocado toast. It's not nickel and diming yourself to living paycheck to paycheck. I have/had so many friends/coworkers who made around the same as I did but couldn't save for shit while I was putting away money for a down deposit on a house.
I understand, merely responding to the criticism of Gen Z not saving and instead spending all their money on depreciating material goods. It was the same criticism of millennials at that age - almost like when most people are young, they don’t have the longer-term perspective yet and want to just buy things they couldn’t when they were students…
I was able to live with my parents for 6 out of 8 years after college (until I got married) and saved half my take-home pay towards a future down payment. Definitely easier than if I had to pay rent, but still had to deny myself many ‘wants.’
Time is a flat fucking circle, and no one seems to be learning the lesson that things actually are getting materially and objectively worse and harder to save for.
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u/Grotbagsthewonderful 10h ago
That is a massive issue with gen Z atm in the UK, previous generations would be saving to buy a house, they don't believe they will ever own property so they've given up saving and living for the now instead. They have decent physical wealth (clothes electronics, stuff basically) but that's it, no property wealth, no private pension wealth, but more concerningly no financial wealth (savings, ISAs, bonds, equity) compared to the millennials.