re: Millennial baws, how you hanging on?

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SuperSaint

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thanks for your input boomer. I can guarantee you can read up on this and get enlightened.

I did most everything right. I got a scholarship and graduated both law school and undergrad debt free. I watched everyone around me spend their teens and 20’s partying, f$&king, traveling and just having a good time while I worked and went to school. I avoided heavy drinking, drugs, unprotected sex, and even caffeine. I live a frugal lifestyle where I cook the overwhelming majority of my own meals, drive hand-me-down cars until the wheels fall off, only pay for one streaming service, never go to the movies, and was fortunate enough for my parents to help me put the down payment on the house I was renting when my landlord decided to sell. I was able to snatch up a dated fixer-upper in a safe neighborhood for well-under market value locking in a low interest 25 year mortgage.

Yet, despite making more now than I did 3 years ago when I bought the house, my quality of life has collapsed. I went from being an up and coming young professional with enough disposable income to save for retirement, never carry a credit card balance for more than a month, eat out frequently, vacation modestly twice a year, and afford most of the things that I wanted (video games, music equipment, etc) to now someone who barely survives and has zero disposable income.

I don’t go out to eat more than once or twice a month now because I cannot afford it. My meals are cooked in bulk, and usually consist of rice and beans or the cheapest available deli meats and breads. I no longer drink regularly because I can’t afford to. While I used to maintain a fully stocked bar with guest liquors for my friends, my liquor cabinet is effectively dry because I cannot afford to restock it.

Despite cutting discretionary spending down to less than ever, I still find myself drowning in debt. I am buying less food, spending less on concert tickets, haven’t bought a single guitar pedal or accessory in over a year, no more video games, completely cut out any hobbies that cost money, etc. I have had to cut therapy, gym memberships, and lawn services for financial reasons. If I can’t fix a problem at my house, it doesn’t get fixed because I can no longer afford to pay people to fix anything else.

Not only am I barely scrapping by to afford basic necessities, but my debt doesn’t seem to be getting under control. Inflation has hit hardest the things which I buy most frequently. Food feels like it’s doubled or tripled in price, and Insurance is through the roof. Even cheap beer is up 40%.

I don’t see a way out of this. I was struggling emotionally and professionally outside of the economic problems, and now it seems like no matter what, I can’t even get back the modest lifestyle I had before. I have only gone economically backwards since 2015. My spending habits have gotten tighter, my life style has massively declined, and yet I went from comfortably paying my bills and saving to only scraping by while my debts seem impossible to keep covering.

There’s barely anything keeping me going. I have no kids, nor will I ever be able to even if I could afford to, which also seems impossible. I feel utterly broken, without purpose or hope for a future that is anything except a continual slide into poverty while I uphold every rule that was given to me to be successful to the goddamn letter. If I can’t make it, I don’t see how anyone can.

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I didn't start making $50K until my mid 30's, which was about 7 years ago. My wife, three kids and I are very comfortable

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How much does your wife make?

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quality of life has collapsed

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Likewise over the past 3 years.

We went from being able to occasionally live like college girls with daddy's credit card to near zero discretionary spending despite increasing income.

It's tough out here on a young man. Groceries, insurance and utilities are outrageous now. Luckily I can do all my own maintenance on everything but man, one expensive repair and back to floating the credit card balance and trying like hell to beat it back down to zero.

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How much does your wife make?

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Less than half of what I make.

GF and I make a decent salary, rarely go out to eat, don't go to bars, bare minimum debt, live in a cheap apartment, don't have expensive hobbies, yet it seems increasingly harder to save a significant amount of money each month.

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As younger part of the work force we get paid less and rent is going up. Dont have time due to work and commute, cant save because inflation, unemployment, bills, what we doing?

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What ARE you doing?

I have a few millennial engineers on my team. At least two of them already own a house, (not certain about the other) and for the most part, seem to have their shite together. They understand work/life balance and are good/great contributors.

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Bro have you even shopped groceries recently? For a family of 1, it’s almost cheaper to eat shitty fast food or large takeouts portioned out vs cooking at home.

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I know I'm way behind in this thread, but I just wanted to chime in on this tidbit.

This is certainly not true. Groceries are more expensive now than its ever been, but cooking at home is easily cheaper than eating out.

Hows our friend? well your friend, i was exfriended.

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I did most everything right.

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I avoided heavy drinking, drugs, unprotected sex, and even caffeine

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no you didnt.