Posted on 04/07/2020 6:59:18 AM PDT by Roman_War_Criminal
The last time a serious economic downturn hit in 2008, Evan Schade was in high school and the crisis seemed like a news event that happened to other people. This time, as the coronavirus has brought the economy to its knees, it has become a personal affair.
When nonessential businesses were closed last month in Kansas City, Missouri, where he lives, Schade, 26, lost his job at a carpet store and almost all of the shifts in his second job at a coffee shop. His girlfriend, Kaitlyn Gardner, 23, was laid off from a different coffee shop.
The money they have in their bank accounts, a little more than $1,000, is enough to cover only this week’s $800 rent check — forget about his $300 student loan payments or the health insurance he was hoping to finally sign up for. The couple have spent their time at home applying for unemployment and fruitlessly looking for new work.
“I know so many people my age who are going through the exact same thing,” Gardner said.
The youngest American adults are facing what is, for most of them, the first serious economic crisis of their working lives. By most measures, they are woefully unprepared.
While the past few years were largely good ones for the American economy, that did little to help set millennials up with a solid financial foundation. Overloaded with credit card and student debt, and underrepresented in the housing and stock markets, they entered this uncertain period with significant obligations and few resources.
(Excerpt) Read more at sfgate.com ...
Next time, listen to your parents instead of your friends.
I can’t wait to see the little snots really struggle.
Ha! Ha! Good one...
Going into debt is like taking out the canoe with the tide and bringing it back against the tide.
More stupidity from the Spoiled Brat Generations!
I’m glad that I’m not one of them and I’m glad that I don’t have any of them either.
>>Schade, 26, lost his job at a carpet store and almost all of the shifts in his second job at a coffee shop. His girlfriend, Kaitlyn Gardner, 23, was laid off from a different coffee shop.
short answer, working gigs in San Francisco coffee houses isn’t going to pay the bills in an expensive real estate market. Move someplace cheaper that you can afford. A coffee house isn’t a lifetime career anyhow unless you own it.
College loan”. Degree in left handed puppetry? German polka history?
They grew up in an era of two big promises:
1) Stuff is basically free
2) The government will take care of you.
The lesson to learn is that neither of these claims is true and they should reject the Political Party which is still trying to make such claims. Vote Trump and join the real world.
Those little snots vote Democrat.
Who do you think told them to go to college in the first place?
In an era where working your way through without debt is effectively impossible?
[[[[Overloaded with credit card and student debt,]]]
A clear consequence of not teaching financial responsibility from a young age. Especially with the plastic.
I know a young 20 something girl who has 13, count’em, thirteen credit cards and is up to her eyeballs in debt.
Student loans should only be given for marketable skills, nothing else. You want to take “Studies” garbage courses, you pay for them out of your own pocket.
Didn’t know you needed a college degree to work at a carpet store or a coffee shop. Next thing you’ll need a college degree to walk dogs or cut your grass.
“Those little snots vote Democrat.”
Nothing will convince them to do anything but vote Dem. They have been too indoctrinated. So, I’ll get some schadenfreude watching them struggle.
>>underrepresented in the housing and stock markets
At 23 who IS going to be making a downpaymnt on a home in SF???
He doesn’t enjoy this? Not working, getting a check from the government and hardly anything available to buy on the store shelves. It’s almost as good as Venezuela!
Mommy and Daddy did them no favors by spoiling them ROTTEN, often into their 20’s.
Next time, listen to your parents instead of your liberal college professors profiteers...who taught you to not listen to your parents.
Should have spent more time with a nose in a book, instead of an Iphone screen. Tough Shit, stupid.
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