From the point of view of an external observer, there are some differences in spending patterns between generations. Most young people are studying and the income of students, in general, is not very high. For this reason, many students have made the choice to work alongside their studies. I, too, belong to the students’ caste, and through this money, spending had to be considered more carefully.
In general, young people may spend less money, but not too carelessly. With a student budget, it may be easier to cut down on spending and spend money on what you absolutely need. For many students, including myself, student loans are an important addition to your budget. It’s a cheap loan and you don’t have to worry about paying back immediately. Its impact on increasing spending is student-specific.
Student loan or evening work?
At first, I have taken a student loan coolly time I did not want to raise it, but in the end, I had no choice. Since then, I have followed the principle that I only lift it when I need it. Own the money comes anyway, and sometimes more, sometimes less used, but I think I’m sensible in terms of its use.
Students who choose to go to work alongside studying deserve a decent hat lift. You do not necessarily need to apply for a student loan, but the amount of income must, of course, be taken into account in terms of subsidies. Working will certainly improve the economy, but I do not think it will have a huge impact on spending. It is very student-specific about how to spend your money.
Some young people studying can also receive financial support from their parents or other relatives. Such grants may be in the form of savings, such as bill payments or your own leisure expenses. In their own way, similar grants tend to be saved or spent on leisure time.
Among unemployed young people and middle-aged people, the use of money will certainly be more carefully considered. Unemployment benefits are not terrific, so spending will probably have to be washed at least once in a while. In middle age, the use of money is also influenced by, for example, family, car maintenance, various loans (example mortgage).
Admittedly, young people may already have their own family, etc., but it is not so common, at least in the eyes of outsiders. A family person may need a car and it’s not cheap to use – there is some personal experience for about a year. In most cases, middle-aged people also already live in their own homes, for which they may have had to raise a loan.
The unemployed and the employed spend money differently
Where the middle-aged unemployed have to consider the use of money more carefully, the situation of the middle-aged working population may be more worrying. Here too, the individual’s own judgment and income are emphasized, but in principle, it is easier for the employed person to spend more money. Today, however, it is interesting to note that short-term loans are being used by more and more workers.
In the case of one’s own parents, it has clearly been noticed that money is spent more when it is more. Once again, there is a difference in the personal level between father and mother – the father has always been more frugal and the mother more wasteful. Their careers have also been interrupted by periods of unemployment, which have helped to save and spend money more wisely.
Like young and middle-aged people, income (pension) affects the use of money. In addition to these, the health of the elderly is also a key issue. In most cases, pensions are low and health care costs are surprisingly high, which means that a lot of extra money may not be available.
On the other hand, there is not much money in older people’s youth and it has certainly learned how to make less and save. As a result, many older people may have savings that they can take advantage of. A good example of this is my own thug, who has always been a very skimpy money-winner and has thus gained savings over the years.
Many older people may not understand much about modern technology and will not get smartphones, computers and even the internet. They can then save money and use it for something else they need. For young people, modern technology is a very important part of life, and if you want to keep up with the latest cry, it requires money. There is a bigger gap in spending money between the elderly and the young than between the young and the middle-aged.
Everyone spends money on food, clothing, health care, studying, housing and other basic necessities, but in addition to that, money is spent on alcohol and tobacco, hobbies, traveling, consumer electronics (computers, TVs, smartphones). Young students and some middle-aged people can go to the bars on weekends to have fun with their friends, and there may be a surprising amount of money to drink. Many times people also have hobbies and depending on their hobbies money is very variable.
Traveling as a student and as a family
There are generational differences in traveling – young people may not be terribly able to travel much, or at least not very far, but it is often possible to study through the exchange. Middle-aged families, on the other hand, tend to travel to child-friendly destinations, and some older people may even permanently leave for retirement abroad.
As mentioned above, there are many different factors that influence how money is spent, but regardless of age, everyone spends money on basic needs. Attitudes towards the use of money can vary from generation to generation – perhaps young people use it a little more carelessly, middle-aged people are more prudent and older people are really prudent. Of course, on a personal level, there can be big differences, regardless of generation.