A common attack I hear baby boomers make against millennials is that they are lazy kids who need to leave their parents basement. A failure to understand and lack of concern of anything that is happening is exactly why younger generations hate boomers so damn much. One wonders who they think will be caring for them in those retirement homes. But why are these kids stuck at home?
Lets start with how screwed over young guys and gals are coming out of college.
I graduated from a four year university in 2012. I took my time going through college. I'll be honest- I never wanted to go. I enjoyed the structure of college and the continual change of going to new classes. But I had no idea what I wanted to do. I didn't really want to do anything.
I think a lot of kids feel like that and they end up going to a college simply because of pressure they get. So four years later these kids end up in massive amounts of debt and in a job they probably didn't want. And if the kid in that situation is lucky he is only in debt. Some of these kids come out diseased or addicted to drugs and alcohol because these kids are encouraged to be as degenerate as possible the whole time they are there.
I skirted at least some of that. I started working manual labor when I was fifteen. So I had no intention of agreeing to spend more money than I had ever possessed on something I didn't like in the first place. So I went to a junior college and then on to a four year school afterward. But a lot of kids don't have that sense.
Even worse- these kids get out of college in $28,000 (average in California) in debt without a job. The median income in California is $51,000 a year. That's not starting salary- that is median. Let's say that our student will be paying $250 a month after his or her first six months out of college or $3,000 per year on his student loan.
For now we won't get in to what a SCAM it is to make someone buy a $30,000 piece of paper so that they can get a job making copies and bringing people coffee in an office. This is a rotten and failing system.
Rent on this coast varies a lot. The fairly large city I live in makes a pretty clear distinction- Over or under $1,000 a month. If you are paying less than $1,000 then you are probably living in an area where the chances of you getting robbed/raped/murdered is highest. You add on basic utilities (food, water, gas, garbage) at around $150 per month and you end up paying around $14,000 per year on stuff you don't own.
How does this graduate's costs break down? $51,000 - ~30% in taxes = $51,000-$15,300 = $35,700.
$35,700 - ($14,000 rent & utilities + $3,000 student loan) = $18,700
Do you want internet access? You might need it for your job.
Do you own a mobile phone? You pretty much need one these days it seems. I cannot log on to my work computer without a mobile phone for security.
How about a car payment? You need to get to your job.
$60 Basic internet or $720/year
Average monthly car payment = $479/ per month or $5,748/year
Mobile phone ~ $71*12 = $852/ year
Car Insurance ~$80 *12 = $960/year
(Please note I am using a basic Google search for these numbers. Please feel free to do your own research.)
So even just with these fairly standard expenses now a single person living alone has roughly $10,000 dollars to spread out among an entire year or $800 per month for gasoline, food, and incidentals. (If you spend $20 a day on food that's $600 a month. And since many young people have no idea how to cook- guess where their money goes.) Now imagine that you rent a 500 square foot apartment you live in but cannot afford to put furniture in. At a certain age it is no longer cute to own an inflatable couch.
Please note I have not included any money being paid in to a retirement account. They simply do not have the money to do it. You may have seen stories about how little young people have in savings- well this is it. A lot of them simply cannot afford even to live in a studio apartment alone. I used to be in this place. I remember that once I let a package of pork chops spoil in my refrigerator. I was so upset that I cried.
Can you imagine how many millions of people just like me are in that position? How many of them are angry about it? I never had a doubt that Donald Trump would win the 2016 election and this is why. Yes, even after that video. If I'd had money I would have driven to Nevada and put money on him. Trump represented change. Badly needed change.
So what do they do? They get a roommate/shack up with their significant other, they stay home, or they go in to debt to eek out a life living alone. One wonders how many people stay in toxic relationships because they cannot afford to leave.
This isn't some argument for a 'living wage'. This is simply a description of how difficult it is for the new generation to make it on their own.
So what are some things young people can do to offset this?
Here is one question I hope to tackle with this blog. I have no interest in mining crypto currency. I think it is definitely an option to offset someone's monthly expenses but at the current time I won't be doing that. I am looking at things that allow someone to improve a skill. What I will be doing is trying different crafts/trades and 'side hustle' types of jobs.
Things I intend to look in to:
Photography
Soap Making
Candle Making
Blogging/Writing
Wood Working
Leather working
I will also be covering cooking, lifestyle stuff, being a dog owner and basically anything else I can think of which is worth talking about.
