I have a draft of an article on my desk that is almost identical to Annie Lowrey's article. Which is really pissing me off at the moment. Why didn't I clean it up and send it out? Why am I such an idiot?
Lowrey talks about her grandmother's attitude towards money and wonders what permanent marks this economic downturn will have on this generation of kids. (I started off my article talking about my grandmother, too. Ugh!)
Lowrey writes,
The millennials’ relationship with money seems quite simple. They do not have a lot of it, and what they do have, they seem reluctant to spend. Millennials are buying fewer cars and houses, and despite their immersion in consumer culture, particularly electronics, they are not really spending beyond their limited means. Their credit-card debt has declined, most likely because many millennials cannot get a credit card, and in part because they know they cannot afford to spend now and pay back later. “They have this risk aversion that we’ve seen with millennials since they were teenagers,” Howe said. “It’s declining alcohol use, declining drug use. I mean, declining sex.”