AIBU to think the older generation is deluded to think this is greed and recklessness?

[Datinggal]

Early thirties and have a 6k credit card debt (interest free) after buying a car, as do two of my other colleagues my age.

Recently a few colleagues over a lunch said to me and the two others my age that they were ‘astonished’ at how easily younger people get into debt and that it was never their mentality. They said we have good jobs and it is just greed of our generation, wanting things now, that we should save before we spend.

AIBU to feel cross about this? I had to save 25% deposit for my house and have student loans of 240 a month to pay back. If that wasn’t the case then of course I would have had the money to buy a car outright! And yes I need a car for work.

I know it’s a case of getting over it and everyone is entitled to their opinion. But I sometimes get the feeling the older generation just does not get it?! AIBU?

The Terry Pratchett vignette about boots comes to mind. If you can buy a £50 pair of boots that will keep your feet dry for 5+ years you are better off than the person who buys a £10 pairs of cheap boots every year that leak by the end of the year. If the £50 boots are bought on a 0% credit card then so what?
(

Meh, with 0% if you know you can pay it back before the 0% runs out then it's just 'reverse saving' - you do the work but you get the thing first.

Often, with things like a car or a new washing machine this saves money overall as you don't have to fork out for trains/ laundrettes.

She's obviously never had the need bout I don't really think either side is wrong they're just different.

If distrust if debt is so irrational, then why is 'student debt' so maligned?

When I graduated Uni and had a student loan to pay off, my Grandmother said she was horrified and that I was the first person in the family to have any debt.

I think fear of debt is basically a good thing. Managed well, with 0 percent, or a good mortgage, then it's fine. But we should never be comfortable with expensive store credit or credit cards.

I am 51.
My parents when they were in their 20s had their wages in cash on a Friday.
I have and use credit all time. I always have. My children now in their 20s use it less than me at the moment but that's because credit is expensive for them so I will lend money to them. I will help them out in the event of unexpected bills etc.

I'm one of the older generation who thinks that you'd working people do seem to want it all right away. However, from what you are describing of your habit, I wouldn't include you in that stereotype.

What does make me react is young people who think that getting a job entitles you to a new car, fancy holidays, a massive wardrobe of very nice clothes, weekends away, expensive furniture in all the rooms etc... Yet, when ask if they are paying in a pension, say that can't afford to do that, nor can they afford to put anything into savings.

It is a generation thing though and also of course very stereotypical as certainly doesn't apply to every young working people.

Car needs to be reliable, big enough to contain everything needed to treat the animals appropriately including scanner, x-ray machine, fluids, casting materials. My DH's kit fills the boot of a Mondeo Estate with space on the back seats for extra bulky bits. Oh and space for a vet student occasionally in the front passenger seat. Others have had Passats, Superbs, or Qashqui/ Outlander type vehicles. Getting one of these for under 6k would be impossible given that it has to be reliable and some have max age written into contracts...

That's very different because it's a tool of the trade. You'll also be claiming the mileage rates for all those business journeys to offset the costs of buying and running it.

These posts are interesting to read! I’ve maybe generalised a little too much...but it’s just from my experience.

Laughed a lot at the poster who suggested this was journalism. Can’t post anything without that accusation!

I think fear of debt is basically a good thing.

I think a fear of debt can sometimes be irrational and prevent people making sensible decisions. So, e.g. fear of debt is a factor in children from low socioeconomic groups not going to university despite student debt not being a real debt and despite university being a route out of poverty (particularly for women).

I think a fear of debt can sometimes be irrational and prevent people making sensible decisions

Most definitely agree and I've never had debt, except mortgage.
Trying to explain to my 15 year old that student fees of about 46k shouldn't put her off. Being frugal and not taking credit can backfire.

46k of debt is scary