Economic differences between older and younger generation

[hedgeh0g]

Anyone noticed some differences between economic factors during the old times compared to now and how people react to these conditions?

Obviously inflation has made the prices these days a lot more expensive. Maybe this is why the older generation easily got to buy houses and properties. They also had very low to no student debts as well. One thing I noticed is that the older generation are more likely to stay in a work for a lifetime.

But the younger generation tend to go job hopping, switching from one job to the next until they find something perfect for them. The younger generation seems to prioritize a work life balance that is why a lot of them only work from home or work only as freelance.

Are there any characteristics from the older generation you would want the younger ones to learn so they can progress economically?

I hear a lot about how the new generation - zoomers - are constantly searching for themselves, and do not think at all about building a career, giving priority to their own comfort. They drink coffee all the time, don't show up on time, and treat their bosses less like senior colleagues and more like equals.
But at the same time, I don’t understand why, with such strange behavior, they think that they will successfully survive in this world, because all effective models of behavior have long been built and they are based on hard work, commitment and dedication.

[ASloveapg]

The older generation had a high saving mentality. Buying land, buying houses, and saving were common for them. The current youth should invest in a planned manner to create wealth and have a saving mentality. The older generation had more responsibility and honesty towards work, which is very much seen among the youth today. Therefore, one should maintain a sense of responsibility towards one's work. If the lessons from the disciplined thinking of the older generation are combined with the current modern generation, then economic progress is possible in a material way.

[SmartGold01]

Are there any characteristics from the older generation you would want the younger ones to learn so they can progress economically?

Things do not really change from the old to younger generations or people but what I mostly noticed that changes is people as far as I know, everything still remains the same. Please do not quote me wrongly because I am viewing from a very different perspection unlike how you see things over there, and I would have to outline few of them for you.

Here are things that makes us very different from the old generation

• Newer generation are impatient
• Newer generation tends to be living expensive lifestyle, impressing people.
• They tends to copy others lifestyle
• clubbing and spending money without having proper financial management
• Wanting to meet up by all means without knowing that life is a process (a time to plant and a time to harvest).

All these results to wants and needs, when they are practicing all these lifestyle they wouldn't be that satisfied with the amount paid to them rather they would be looking for additional place to increase their hustle to make them have more pay out to get satisfied, that is why you see many people source for different types of works to enable earn multiple times.

Usually, we know that inflation have ravaged everywhere but we shouldn't be that careless in our spending, the kind of lifestyle we are living. Having a financial management skills would definitely help us to have control on what we needs and what we don't want. Apart from inflation, you still have access to education, skills and whatever you feels like having, just that everyone must work according to their size.

[HajiBagi]

I see a lot of people condemning the way the new generation lives. You people talk like they just decided to live life this way. Things have changed, and they have to evolve with it.
We can't even talk about what inflation has done to the new generation enough. If you ask a lot of people I their 20s and 3s today, they earn more money than their parents did when they were at that age, but they can't do half the things their parents achieved with that money. This is because inflation has made things so bad.

Things are too expensive and there are too much bills to pay. Two young people can go on a date in a fancy resturant in the old days and not spend that much, these days going to the cinema with a date can take so much from you. We live in different worlds.
Theres is thisgeneral misconception that people of this generation are lazy, I don't agree with that. They just don't want to work hard jobs for small pay. Since the currency has lost so much value, people now want jobs that can pay more money to meet up with their bills.

We cannot compare the lives of the new generation and older generations; however, we should recognise that things are different. While things were less expensive and people had enough money to buy anything they wanted in the past, it is now difficult for people to find well-paying jobs that can cover all of their expenses. Although it may look like the younger generation is not doing well, we will realise that our daily or weekly expenses are different from those of the previous generation. A person from a low-income family will never see somebody in this generation as being lazy because of how hard life has been for them. Not everyone can afford things these days, that is we can never compare the younger generation to the older one.

[Kaliandra]

In my opinion, there hasn't been much change from the past to the present, even though inflation continues to go on and prices of goods continue to rise. However, in the past, even though inflation wasn't as high as it is now, salaries were still small, and certainly very different from today. I remember my grandfather, who used to work, earning only $2 a day, but with that money, he could cover his daily needs and even save a little. But looking at the present, even though inflation is very high, salaries have mostly increased, and of course, it's the same, so there hasn't been much change.

So, I think what can be taught to the younger generation is that they must be able to manage their finances and emotions. They must also be able to utilize their time, all with the goal of achieving a successful future. And of course, we must continue to expand our knowledge, never stop. And, of course, we must save, whether our income is small or large, because most people are able to start a business because they can save and eventually have a large amount of savings, which ultimately allows them to start their own company.

[junder]

The older generation had a high saving mentality. Buying land, buying houses, and saving were common for them. The current youth should invest in a planned manner to create wealth and have a saving mentality. The older generation had more responsibility and honesty towards work, which is very much seen among the youth today. Therefore, one should maintain a sense of responsibility towards one's work. If the lessons from the disciplined thinking of the older generation are combined with the current modern generation, then economic progress is possible in a material way.

The difference may lie in mindset. Older people typically want savings, more or less like you mentioned. I suspect young people tend to think less about this. Only a few young people think about their future by investing or saving. Most young people today are more focused on their desires, such as meeting their lifestyle standards, and some even go into debt just to meet their lifestyle needs. However, they may be aware and have a positive mindset, such as preparing everything for their future.

[bakasabo]

The difference may lie in mindset. Older people typically want savings, more or less like you mentioned. I suspect young people tend to think less about this. Only a few young people think about their future by investing or saving. Most young people today are more focused on their desires, such as meeting their lifestyle standards, and some even go into debt just to meet their lifestyle needs. However, they may be aware and have a positive mindset, such as preparing everything for their future.

Young people have too much to try and to buy, compared to older generation. It might be, that older generation were able to save because they dont have things to spend money on. What were biggest expenses in past? Buying house, car, refrigerator, tv, oven. Younger generation are surrounded by electronics, gadgets that becomes «old» in few years. In past people have little clothes for example. Now people have separate rooms for sneakers collection only. There are people now who dont wear same t-shirt twice, while my grandpa had tshirt he wore for 10+ years. No wonder younger generation cant save.

[Zigabel]

Op you are missing out with value system, the pricing of things in the past isn't same as now but the valuation can be at almost same level if the comparison are made with relativity to the old times. Now let me further make it plane, something worth $5 in the old days can be worth  $50 now, technically if you examine it you will see that the price only changed with time but the value somehow still was maintained, only that the strength of the money my have dropped because if not then you should need laser amount of money to get that same item.

House, cars and the rest of it didn't cost that much back in the days because it didn't cost its producers as much to put them together, asides that skills did improved and these things got better with better versions which helped the valuation of those items to require more money to acquire them and that is why I mentioned earlier that the value system did changed.

[Synchronice]

Anyone noticed some differences between economic factors during the old times compared to now and how people react to these conditions?

Obviously inflation has made the prices these days a lot more expensive. Maybe this is why the older generation easily got to buy houses and properties. They also had very low to no student debts as well. One thing I noticed is that the older generation are more likely to stay in a work for a lifetime.

But the younger generation tend to go job hopping, switching from one job to the next until they find something perfect for them. The younger generation seems to prioritize a work life balance that is why a lot of them only work from home or work only as freelance.

Are there any characteristics from the older generation you would want the younger ones to learn so they can progress economically?

It's clear as the sky that elder generation is more hard-working than the younger one. But that's not completely bad. Today, life is good, it's about having fun for most people. Young generation lives in luxury compared to elder generation. Young generation doesn't want to work like slaves for their boss, they want to work less and have more fun because that's how they grew.
The development of AI is also making it easy to do many repetitive tasks. With the advancement of engineering, medicine, chemistry, robotics, AI and many other fields, our life is becoming easier and more comfortable, so it's logical for the younger generation to be less hard-working than the older one. If we compare an older generation to more older one, it's clear that the older ones were more hard-working because they grew up in terrible conditions.

[justdimin]

We cannot compare the lives of the new generation and older generations; however, we should recognise that things are different. While things were less expensive and people had enough money to buy anything they wanted in the past, it is now difficult for people to find well-paying jobs that can cover all of their expenses. Although it may look like the younger generation is not doing well, we will realise that our daily or weekly expenses are different from those of the previous generation. A person from a low-income family will never see somebody in this generation as being lazy because of how hard life has been for them. Not everyone can afford things these days, that is we can never compare the younger generation to the older one.

There are good and bad things about both. I mean you can facetime someone whereas you wouldn't be able to call others, you can google whatever you want now, you would have to trust the papers back then. Basically things were good and bad, because then you could work for a year and get a house, now you can work for decades and may not end up with a house, specially if you get sick, then you will bankrupt.

So when you think of all of that, it means you are going to end up with terrible results, and that is not something you would want. There are good things, and there are bad things. Food is better apparently, not healthier might I add, definitely worse for your health, but father says food in 60's was bad compared to what we have now.

[Guccho]

There are good and bad things about both. I mean you can facetime someone whereas you wouldn't be able to call others, you can google whatever you want now, you would have to trust the papers back then. Basically things were good and bad, because then you could work for a year and get a house, now you can work for decades and may not end up with a house, specially if you get sick, then you will bankrupt.

So when you think of all of that, it means you are going to end up with terrible results, and that is not something you would want. There are good things, and there are bad things. Food is better apparently, not healthier might I add, definitely worse for your health, but father says food in 60's was bad compared to what we have now.

The world has evolved a lot over the generations. It is true that at that time a person could earn in a year, afford a house or even a vehicle without being too much concerned, but now, and with all the effort, decades can pass and still all chances of success go down to nothing after unexpected health issue or an expense sets in the picture. The jobs are more competitive, cost of living has increased tremendously, and despite the new found advantages brought about by technology such as instant communication and access to information, technology does not pay the monthly house rent or even the electricity bill at the end of the month.

On the one hand, now there are some advantages. We enjoy higher quality healthcare and conveniences and access to more information. Food sources are more diverse and, howbeit less nutritious, and we can communicate with other people worldwide within a few seconds. The generational comparison is not easy since every generation had its hardships and privileges. Life is simply other now and that does not imply that there is one generation that is more civilized or presumably lazier than the other. It is just a matter that the challenges have changed.

[philipma1957]

Anyone noticed some differences between economic factors during the old times compared to now and how people react to these conditions?

Obviously inflation has made the prices these days a lot more expensive. Maybe this is why the older generation easily got to buy houses and properties. They also had very low to no student debts as well. One thing I noticed is that the older generation are more likely to stay in a work for a lifetime.

But the younger generation tend to go job hopping, switching from one job to the next until they find something perfect for them. The younger generation seems to prioritize a work life balance that is why a lot of them only work from home or work only as freelance.

Are there any characteristics from the older generation you would want the younger ones to learn so they can progress economically?

clueless about homes.

I got married in 1986 house were in an upswing a small condo in Queens NYC went from 20K to 90K in a 4 year time.

1983 to 1987.

I lived in a shitty apartment from 1986 to 1992 saving money enough for a home.

and the reason I could get one in 1992 was that a 200k home purchased in 1988 dropped during the 1992 crash to 147k


While all those numbers seem small now My wife and I were earning 37k a year between us and I had very high medical debts for that time of 11k.


What you got right was college was still cheap.

 A 4 year degree from CUNY (New York City colleges system ) was under 8k.

[r_victory]

Times have changed. I don't think younger people should be like or follow the same paths as their elders, especially since those paths have changed too. The current economy is more dynamic, and old beliefs no longer fully apply. The concepts may be the same, but their applications may vary. I believe older people should adapt to these changes.

[ndutndut]

Anyone noticed some differences between economic factors during the old times compared to now and how people react to these conditions?

Obviously inflation has made the prices these days a lot more expensive. Maybe this is why the older generation easily got to buy houses and properties. They also had very low to no student debts as well. One thing I noticed is that the older generation are more likely to stay in a work for a lifetime.

But the younger generation tend to go job hopping, switching from one job to the next until they find something perfect for them. The younger generation seems to prioritize a work life balance that is why a lot of them only work from home or work only as freelance.

Are there any characteristics from the older generation you would want the younger ones to learn so they can progress economically?

What's clear is inflation, as real inflation makes each generation different in every way in meeting their living needs. Furthermore, what differentiates people now and in the past, in this context, is economic growth. One reason is that the previous generation had a wealth mindset. This wealth mindset can be implemented by starting to plan for their future finances, such as saving, investing in property, and, once they own a garden or rice paddy, they also cultivate it themselves.

The current generation buys houses from banks and works to repay bank debts. Similarly, with work, people in the past worked diligently and were prepared to endure pressure, but the current generation wants freedom and doesn't want to be pressured by superiors. As a result, we can see that the current generation doesn't stay in one job for long; they often leave because they prefer freelance work without being controlled by anyone.

[Alone055]

Are there any characteristics from the older generation you would want the younger ones to learn so they can progress economically?

Discipline, obviously.

The younger generation, mostly, lacks discipline in anything that they do, and even though I'm among them, I don't hesitate to say that we are not as disciplined as our older generations used to be. Our fathers and grandfathers used to work very hard to earn a living, they struggled but still managed to have better lives than so many of us these days despite the fact that making money was tougher back then and there are way more opportunities for people to make money from nowadays, but as I said, a lack of discipline is probably the reason why the younger generation struggles in progressing economically.

Another thing worth mentioning is that we are also more impatient than the older generations. I mean, we want quick results, and if we don't see them, we give up and stop trying, when what's important is staying patient and dedicated to what you are trying to achieve because if you don't give up, it will eventually work out, but we don't have that sort of patience anymore.

[Berry2d]

Apart from advancement in technological activities the older generation is more better and convenient enough to live in more than our current generation that have been destroyed by quest for superiority and supremacy. living in the older generation, life was so much comfortable and sweet because there was love among the leaders responsible for economic development and fund management, now all our advancement in technological activities is centred at Is in arm production so can be used for oppression among each nations and never in helping each other

[batang_bitcoin]

Discipline, obviously.

The younger generation, mostly, lacks discipline in anything that they do, and even though I'm among them, I don't hesitate to say that we are not as disciplined as our older generations used to be.

I agree on this. It's what I've observed to the younger generation. They lack of discipline and they cannot take long term take to any investment that they're looking at. As they lack discipline, they also lack in understanding and patience. They want to take things too quickly and want to see results of hard work on an instant. That's bad to be honest and all of it comes in a long run and won't just come rightaway. But I know that this younger generation will do better than the older ones because of modern innovation.

[Rockstarguy]

Times have changed. I don't think younger people should be like or follow the same paths as their elders, especially since those paths have changed too. The current economy is more dynamic, and old beliefs no longer fully apply. The concepts may be the same, but their applications may vary. I believe older people should adapt to these changes.

It is not advisable at all; if you follow the old steps, you may end up not having a significant result. Things have really changed, and there are new ways that things work now. Let me use careers to illustrate this: in the old days, the goal as a student was to go to school and make good grades to get a better job after graduation, but it is not like that anymore.

Even if you focus on making good grades and do not plan for life outside of education, such as planning to acquire skills, life may be too difficult after school. If care is not taken, you will still end up going back to learn a skill that you can rely on to make some money. Right now, you can comfortably stay at home and make some money. We are in a digitalized world right now, and you have to learn smartly to keep up with the tasks that come with this modern age in which we find ourselves.

[CryptopreneurBrainboss]

Here are things that makes us very different from the old generation

• Newer generation are impatient
• Newer generation tends to be living expensive lifestyle, impressing people.
• They tends to copy others lifestyle
• clubbing and spending money without having proper financial management
• Wanting to meet up by all means without knowing that life is a process (a time to plant and a time to harvest).

I won't say we're impatient because that's more of generalisations and everybody aren't the same. We have people in this time that have more patience than those of the past or older generations. Things are more expensive than before so saying this generation is spending too much isn't a balance comparison because we can't used the purchasing power of then to compare with now. Inflation have made everything over expensive that if you want to live a decent lifestyle, it'll look like you're wasting money. The living standards then is better than what we have now. Clubbing has always been a part of civilization and I can argue we don't do it like the 80's. I see pictures and videos of our forefathers and then I realized we aren't evening doing anything.

[Man of peace]

They are Many economic differences between old and young generations today, they're:
A) years back our Naira have value,but nowadays our Naira has no value again.
B)back then the cost of living was very cheap and affordable but today it's very difficult to afford..
C) acquiring of landed property then was so easy because you can even get it free of charge and if it requires money it's just little amount,but today people have seen land as the most valuable asset one can even have and the cost of it is in a higher side..
D) Job opportunity: ,then no matter how little your job is it will put food to your table including your family,but today it depends on the level of your Job or business before you can be able to 3 square meals from it you only not even to talk about you and your family..
D) i encourage our young generations to learn to be hard working, industrious like our four fathers in those days, today every body needs soft work,
E) learn to be independent hustling tightly, that is how our four fathers is in the olding days..