Why Is Gen Z Spending Like The World’s Ending? - Caleb Hammer

I feel like Caleb is going to need to hire some bodyguards

Well, the youth are just following example from a government with a 7% budget deficit.

Where there is no vision, the people perish.

the term is called Doom Spending: "the act of mindlessly spending money on luxury or frivolous purchases to cope with anxiety and pessimism about the economy or the state of the world"

Financing a camper is a *terrible* financial decision. RVs depreciate so ridiculously fast.

The algorithm stole their hope

If a worker notices that playing by the rules guarantees nothing in the future, then why bother saving for the future? Eat drink and be merry, taken to its logical conclusion.

I have drilled into my kids to avoid debt like the plague unless it’s a planned for big purchase that has a history of holding its value or increasing in value so is an investment. We explained that taking on debt is selling out your future as your debt with dictate your lifestyle and even your job and remove your freedom. We helped them out by paying for (in-state) college (although they were expected to work hard and retain a decent GPA). They had jobs in high school and college. None of them have debt, they just don’t buy things if they don’t have the $. We have also never been flashy with money and never emphasized material goods over peace, contentment and well-being.

Hello you beauties. Watch the full episode with Caleb - https://youtu.be/nulkcjbI-pI

Probably something to do with being locked out of home ownership. That money is going to go somewhere.