RE: Just Admit It

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beelzael in Finance and Economy • 10 months ago

Seems like that kid struck a nerve with you 😅

Maybe in Finland it's generational. Here it seems cultural. I rarely see people who are able to manage their money really good, most just survive. Thinking ahead and planning is not common at all, at no age, at least here. Neither is problem solving. Improvisation, yes, but really fixing the problem? Forget it.

Those who do, are incredibly successful. It's actually much easier than it looks to create a profitable business here - if you're able to plan ahead and invest your money somewhat wisely, you're already 20 steps ahead of the competition.

Looking at the debt problem (which is a part of spending), I don't think it's generational. Even my father is still paying off debt because he was never smart with money, and never learned. Luckily, we had my mother, so here we are.

The situation might be getting worse, I agree - but the resistance against learning and getting your life together is not exclusive to gen Z at all.

10 months ago in Finance and Economy by beelzael

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tarazkp 10 months ago

l. Here it seems cultural. I rarely see people who are able to manage their money really good, most just survive.

Culture plays a big part in it for sure. Generally it seems, warmer cultures are less able to plan economically. I think it comes down to necessity. Don't plan ahead in Finland, and freeze and starve to death in the winter. Not an issue in warm countries as there is no need for great shelter, and food is plentiful (historically).

Even my father is still paying off debt because he was never smart with money, and never learned. Luckily, we had my mother, so here we are.

My parents were both terrible with money in different ways. Lessons learned are hard to relearn for me.

The situation might be getting worse, I agree - but the resistance against learning and getting your life together is not exclusive to gen Z at all.

I think this is where "necessity" has come into it. Earlier generations seemed to have less safety net to fall into. When everything is rubberised, the cost of falling is cheap, but the lesson for the need to stay upright, is never learned.

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beelzael 10 months ago

I think this is where "necessity" has come into it.

With that I agree fully, I think you read my post about how the scarcity-experience of my grandparents shaped my frugal approach to life, fueling my eventual success.

It does make sense to see it that way. The safety nets in our societies have been way too comfortable these days. Instead of holding for a second and then bouncing you back, some people are making their beds in them.

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