Money Glee Monday #24 - Aussies worry about next Gen, have we gone mad?

Have Australian's & in fact people gone made?

Wouldn't say that it is all people, specifically looking at people in developed countries here. What do we mean have people gone mad?

Take a read of this article about "Aussies worrying about the next generation". Admittedly the article does have an agenda to promote financial advice*, although there is some value in the message.

Have we gone mad then? If so, why?

Breathe easy, you probably aren't that mad (even if you are we won't tell anyone) :). What we feel here at Money Glee is that there has been continued growth of an entitlement and not having "enough". Let's expand with a few examples:

  • Do you really need the latest I-Phone or Android phone when it comes out?
  • Is it necessary to go on a $20,000 luxury cruise?
  • Spending $50,000 on a wedding? Is that the purpose of the day
  • That $35,000 car you've got financed, do you need to have 2 of them?
Marriage and weddings can be a wonderful thing, however make sure you're clear about the reason & not simply "showing off"

Marriage and weddings can be a wonderful thing, however make sure you're clear about the reason & not simply "showing off"

Let's get this straight there are people who will & are genuinely struggling financially however if you are doing any of the above, then crying poor, this is generally a case of entitlement syndrome.

Rather than going to your doctor and asking him to give you medicine for entitlement syndrome, they may look at you funny, reflect on what & where it is you spend your money.

By realising & appreciating that you don't actually need that 2nd brand new car or million $ apartment by the beach, you can start to relieve the stress created from desiring "stuff".

Of course this is not to say or argue that consumerism is all wrong or say that by doing the above things you're a bad person. Heck we all enjoy a nice pair of shoes /  clothes or an overseas holiday. What is being said is to get clear that you may not be able to do all of the above, unless you win the lottery, which is not a recommendation either :).

If you're in the younger generation are you worried you'll struggle?

If you're in Gen Y, how do you feel about Gen X?

What questions about money or lifestyle would you like to know more about?

We'd love you to comment, like or share or post! Remember to live your Money Glee!