Tuesday, August 5, 2008

Gen Y

It's kind of sad, really:
I'd rather pick up a magazine claiming to uncover my generations financial choices than telling what everyone is doing in bed.

And so, as I try desperately to make sure that I'm not the kid picked last in the gym class of Gen Y, here are some bits I've seen lately:

"When Should Financial Independence Begin?" (Talk of the Nation, 7/21/08) Melody Serafino is right, many people just seem to be missing her point. In this piece she talks about the importance of not depending on your parents -- that is, not because it's convenient and nice to have extra money. No, not you, guy in extreme circumstances who needed to move back home while unemployed, or you, guy out on his own just getting help with student loan payments. As she's talking, I'm thinking of a good friend of ours who spent college doing things like buying a $300 architecture books and $200 pairs of jeans, and is now living out in NY, no doubt doing similar things-- if they weren't directly on his parents' credit cards, I'm sure he could afford them only because all of the absolute necessities were. (If you're reading this, I still love you, though!) So yes, in conclusion, don't be on an allowance after college; it's tacky.

(If you aren't managing your financial situation, then how will you know whether you need family help, or not?)

QueerCents - Banking, Budgets, and Investing 101 for Gen Y
Interestingly I find that QueerCents speaks to me more often than most personal finance sites. It's a lot of enlightened liberal advice on a wide variety of topics. Very handy. This particular post is a nice overview.

One of the PM's I look up to advised me to keep up with this sort of thing, to make sure I get what I deserve, but also to be able to make sure my requests are reasonable. I did shell out the $15 for a report, and it was worth it to find out that I am not being totally shafted.

Feed The Pig -- Episode 6, Emergency Funds
I know I'm a little bit of a pf nerd, but this didn't tell me anything I didn't know. Feed the Pig is a pretty cool initiative, though, shooting at the 25-34 age range, and trying to provide meaningful advice for the situations as our generation sees them. Listening to this one, I couldn't help but think of so many people I know as the guest on the show lists excuse after excuse of why he wants to not have or postpone having an emergency fund. Ultimately it boils down to "It's unpleasant" (to do, to think about, etc), and it really seems to me that this is somehow viewed as an a legitimate excuse.
I'd like to talk more in depth about this in the future, but articulation is not coming easily right now.

**Edited to remove (positive!) reference to an insurance company, because they creeped me out with waaaaay too many page loads.**

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