Does she have a point?

[CaboKP]

It seems we all have a similar start that includes starting a lower wage job and scraping by. I began working full time in 2000 when I was only 1.5 years into college. My starting pay was $11.50, Working full time on 2nd shift, getting home at 1 AM, then studying until 2:30 for my 8 AM class was rough. I had 19 credit hours and it required 26 hours of in class time. That job gave me enough experience to grow into an engineer, then I went back to school at 30. I still drive an old car because I hate car payments. Current car is 2011 SRX I got a steal of a deal on. After owning for 4 years, it was totaled by hail. I kept the money and drive it with dents.

Getting by without cable, cell phone, crap car, and a cheap apartment seem less acceptable than in the past. The car and apartment admittedly may not be too easy these days.

I do think some things within our culture have changed that make the younger generation feel as though the things are required. iPhones and air pods are the top of the list. People spend a lot on these items when you can easily buy something cheaper. There is also a segment of healthy food that didn't exist. As a gen Xer, we just ate veggies and meat more and anything pre-packaged was typically junk food and relatively cheap.

 

[SoDakHawk]

As far as food prices go, I will admit the recently inflated food prices are frustrating. Still, if a person plans ahead, does some smart grocery shopping, does meal prep, and eats home cooked meals as opposed to eating out all the time, including overpriced, crap fast food, you can save money on food.

You can buy a jar of Prego pasta sauce for $2.38 and a package 2 lbs of spaghetti for $2. For under $5 you have enough there for multiple meals. Learn how to make different casseroles or how to use a crockpot and you can get very creative in making meals at a very reasonable cost. Hell, I'm 50 and we can afford to spend the money yet we still eat almost every meal at home, rarely eat out. Eating out, the quality has gone to crap. We can make better meals at home for much cheaper.

 

[Hoosierhawkeye]

Yep. Started out much the same. First job out of college in 1995 was for $15,000/year. Was happy if at the end of the month I had $100 in my checking account. Bought my first house in 1997 and there were times during those first 5 years where I sweated that mortgage payment. Things really didn't start getting better with more breathing room until I was 10 years into my working career, so early 30's.

This girl in the OP is 20 years old and working at Walmart. I guess I would tell her "welcome to adulthood".

I have zero sympathies.

You made 15k in 1995 which was 44% of median income at the time. 2 years later you bought a house. You don't say what your income was in 1997 or how much you paid for the house. Average home price at the time was $146k.

You don't see how that might not work for someone who's currently making $33,000 which is about 44% of median income in the country now???

I mean do you see someone making $33k right now even if they are say 22 and straight out of college isn't likely to have the income necessary to buy a house in 2 years?

You benefited from your circumstances.

 

[SoDakHawk]

You made 15k in 1995 which was 44% of median income at the time. 2 years later you bought a house. You don't say what your income was in 1997 or how much you paid for the house. Average home price at the time was $146k.

You don't see how that might not work for someone who's currently making $33,000 which is about 44% of median income in the country now???

I mean do you see someone making $33k right now even if they are say 22 and straight out of college isn't likely to have the income necessary to buy a house in 2 years?

You benefited from your circumstances.

Two years later I was making about $25,000. I started in an entry level position, worked my way up, then had a job change. First house was a fixer-upper starter house built in 1916 that I bought for $58,000 and put 5% down on a 7 year ARM with a rate of, I want to say 7.5% or so, and had to carry PMI.

$15,000 in 1995 is the equivalent to $30,356 today, so $33k is a little ahead of that. $58,000 in 1995 is the equivalent to $117,376 today.

I just quick pulled a search of homes under $150k in North Metro of MSP. There are numerous properties for sale in the $100k range, granted most of them are condos or townhomes with a few SFH homes sprinkled in, mainly foreclosures. Buying a townhome is still a roof over your head and a vehicle to building equity and a way to buy into real estate.

Just ran the same search for Sioux City, IA, Sioux Falls, SD, and Des Moines, IA. Same thing. There are properties out there to be bought. Here's a couple in Des Moines.

$75,000

$109,200

$95,000

 

[Gimmered]

Are these two friends?

'You just feel lied to': This struggling Texas woman asks why she got a college degree

I don't know about others, but I'm not sure why these newer generations think they should have what their parents had right out of college? It takes time. I started out with: Dorm room 1-bedroom apartment 2-bedroom apartment 3-bedroom house (1500 sq ft) 4-bedroom house (1800 sq ft) 4-bedroom...

iowa.forums.rivals.com

I would watch then engage, if you know what I mean.

 

[CaboKP]

You made 15k in 1995 which was 44% of median income at the time. 2 years later you bought a house. You don't say what your income was in 1997 or how much you paid for the house. Average home price at the time was $146k.

You don't see how that might not work for someone who's currently making $33,000 which is about 44% of median income in the country now???

I mean do you see someone making $33k right now even if they are say 22 and straight out of college isn't likely to have the income necessary to buy a house in 2 years?

You benefited from your circumstances.

I see a sign when driving past McDonalds stating the starting pay is $15/hr. That is $31,200, so not too much different than the $33k and 44% of median. Anyone can get hired working there. The trick is working a job that builds the skills to allow a person to improve from that starting spot.