Millennials & Gen Z: Young And In Debt. Why? | Talking Point | Full Episode

Not buy now pay later; more like buy now pay forever

maybe lower your 'financial goals'?

Such videos would tell poor people to abandon the luxury and ease of barista coffee. While justifying rich people's stupid spendings.
Name 1 rich guy who got rich by counting beans.
These videos are a brainwash: putting blame back on victim.
Ask em where is the limit. People struggle to pay for food after working 7 days a week while sleeping in their car. Whereas aristocrates offer zero contribution but full authrity over econony.
Who is at fault? These economy drivers who hoard money and get there pictures on magazines.

Hear me out! A local lottery ticket shop in my city has a grand jackpot of 600k but avg house in same city would cost me 1.6 million AUD. so paying off remaining 1 mill would take me 20 years at the rate of paying 4k a month.
I make only 4k a month as a 30 yo male.
Do u think i should give a eff abt my credit history.

The rich mostly spend their money on investment. Once the investment made profits, they will spend it with no borrowing and they use CC for points and make sure the funds is ready
The middle class spend their money for their lifestyle with credit cards, car loans, pay later, etc.
The poor spend their money to survive for food, rent and essential

Because people like Brandon will pay for them.

Easy fix is self control and stop being materialistic. Dont buy into consumerism and live within your means

i have 3 credit cards and i handle it very nicely thats why it worked for me and ESPECIALLY not in dept 😕

The girl Joey is making roughly 3800 euros per month (assuming it's net) and pays only around 800 euros for rent, which is considerately a decent income with much lower rent compared to other major European cities. She's also able to save up close to 700 euros a month. And she's in debt? I'm confused...maybe because she 'has to' spend near 2000 euros on 'necessity'... or are food and transport really so expensive there?

Being born and living in singapore is itself the biggest wealth drainer

I got plenty of money and a fat bank account. The number one reason for this is because I don't spend any.
I got friends who make 5 times more than me but always in debt, the reason? Because they can't control their spending.
One of them told me that i may as well be in debt because all my friends are. Dumb.

Why? Because of the failure of the previous generation that created an unliveable system and Gen Zs have to fix that.

I don't understand how they spend a lot money on personal trainer yet not getting into the good shape, that's just a complete waste of money you know, you obviously can maintain your body weight at a healthy level with more of simple home workouts and less of fast foods and confectionaries. I know I can be called out for bodyshaming but I think if you choose to be fat, that's fine, but if you already paid to shed pounds off your body and you're still not in the good shape, it's economically inefficient.

My mom would disown me if I spend my money like this. Im scared of debt so Ive always paid with cash. If i dont have the money i dont buy stuff.

This is not just an issue in Singapore, Indonesia also have this problem 🫠

In the US bnpl companies don't typically report the amount of debts to credit bureaus. This is gonna be a breaking story some day on how much they are letting people wrack up debt. I worry they are going to create a huge issue in the future.

No $$$ but have expensive taste buy Dior makeup. How to save? Never learn. Set you expectations right live within your means.

Self control, a society built to sell you things constantly. Is there a generation that is pushed to buy more things than ever before?

Most Gen Z are depressed and dont plan to live long anyway, so this works for those who just in for the fun while it lasts.

Millennium: I hate buying car ,house.
Millennium:Look at those $1000 shoes.
😂😂😂

Gen Z believes you live once in your life that's why they splurge on things they don't afford😂... so pay now, debt later

She makes $5000 a month wow

Sorry to say but a female who spend too much, for consumptive things (and worse with credits), is a major red flag.

Buy when you have the money. No need to pay later.

Yeah...blame it on the canine.

Looks like my father taught me well.

if my dog fall sick now.. my family will have hot dog dinners for a few days.

So many green eyes

From start to finish yu just interview with female only who spent the money. Take interview with male too

The problems are: weak minded, wants instant gratification and no self control.

Wow. It’s almost as if the problem is that we don’t have resources to have everyone living in luxury. Since when is eating out all the time or taking taxis everywhere something an average person can do? It doesn’t make sense

Seems like they are quite well off! 700 Singapore Dollars for rides per month - wow!

lack of good parenting and religion

Ironic how I just got an SPay later ad before the video played 😭

$300 make up and still looks like gorlock the destroyer

- private hired cars -
Because she couldn’t imagine herself waking up two hours earlier.
- Personal trainers

You wouldn’t see boomers give themselves this much convenience just so their lifestyle would have this much freedom .

Whereas Gen Z - there’s a lot of dining out, a lot of luxury items, a lot of living like how you see on Instagram, it’s a lot of the things that could have been cut off ( meaning to reduce it to maybe a once a year thing or financially budgeting it to fit the paycheck)

So honest opinion, a lot of these could be controlled…….

This documentation is a bit biased and many cutouts. But, yeah. watch and spend your money responsibly.

"...that's just not my priority right now." 🤣🤣🤣

I come from a country where people don’t really use credit cards, so moving to one that does, I only use my credit card to “build” my credit, but i never spend for something I can’t pay right now without borrowing or spreading out the cost. 😊

Then they sell the debts to a debt collection company wich bought this debts and start harrasing you

I'm Italian and I'm 60. I was educated: If you haven't the money to buy, you have 2 options.1st don't look and move. 2nd save the money for your project

The answer is:
"I’m broke and struggling financially, but I still try to fulfill my ego. I have a lack of self-control, and it’s basically all I have left to reward myself. It’s also the government’s fault for creating structural poverty."

I was never taught financials or was ever told to never to spend beyond my means. I just never taught it was a good idea to do any of these things. Just common sense.

one of my friend apply for credit card for her trip to europe. i ask her how about her car loan? monthly expenses like electric & water bill? student loan?

Taking ubers and having a personal trainer and complaining that you need to save money is crazy 😂

Dumb af idea lol

Rabak the Nurul looks 2/10. Buy so much make up also not helping her.

1. Pay for braces
2. Buy running shoes
3. Buy groceries and go into calorie deficit.

I guarantee is 10x cheaper than buying make up and you'll look 20x better.... joke. Absolutely joke.

When Singaporean can't afford anything we're all doomed

The default percentage is around 40% as of today