Things Older Generations are Teaching The Younger Generations in This Tough Economy
Todays generation is an instant gratification generation. When they desire something, they want right away and many times values a newer item versus a better quality item. Several adults would be surprised to find out that in a recent study,a group of teens and twenty something said that when an item in your house breaks, like an appliance, they would simply go purchase a new one. They have no idea that the concept of fixing something you already own is an option Today with the struggling economy this younger generation are learning how to be more frugal from the older generations that have been doing just that all along.
For example, if your vacuum breaks you must visit a vacuum repair shop and take a look at vacuum parts and vacuum pumps that may need to be replaced. This article will describe more ways our youth is now learning from the older ones on ways to be more frugal.
The amount of credit cards owned by those under 30 years old is astronomically high. Several of these young adults were handed credit cards at the age of 18. They were lured by the credit card companies that gave many of them gifts or prizes if they did sign up to receive a card. A lot of these young teens were incapable of knowing how to be financially responsible. But, they did understand that they had a credit card with a high limit that would allow|could have| them topurchase anything they desired at the time. They would then simply pay the bare minimum requirement each month resulting in an increasing debt that soon got out of control.
This credit card fed on the instant gratification of these younger people and reflects strongly the issues with our economy today. People are having greater amounts of debt at younger ages than ever before. They now need to learn how to change that.
Many bad things have a silver lining and this recession may be one of those examples. The financial hardships have forced several citizens that were living much past their means to take a good hard look at themselves and their spending. They are now wanting the advice of their elders to assist them in how to be financially smart. One lesson is to pay off and get rid of their credit cards and to just use them for An emergency. This is tough for a lot of people but it will help them realize that they can only buy something if they have the cash for it at that time. Another thing they are learning is to take care of the things that you do own. When somethings breaks like a TV, an appliance or even your car, take it to get fixed instead of buying a new one. If you absolutely have to buy a new item, invest in a better made item that will last many years instead of cheaper made product that will break after one year. This is how to be more frugal in todays society.
Chuck R. Stewart recently purchased vacuum parts online for a very old sweeper that he keeps in his office. He purchased vacuum pumps online for a very old machine he was trying to fix.
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