Fellow millennials, how are u guys doing economically nowadays?

[jhouse]

@be4christ My dad had to work abroad as I did. The main difference is that I was able to bring my family with me because he had to work in the middle east and I moved to the US. I have probably spent more time with my daughter now than he has ever spent with me. His life was definitely harder than mine if you just consider what he had to forgo just to give his family a better life. There simply weren't a lot of opportunities during his time to move up the social ladder without working abroad.

Personally I think it could've been harder for me to sustain a family now than before, but because I was given a leg up by my dad's sacrifices I was able to get into a well-paying career and am doing quite decently for it.

 

[cm7859]

@be4christ Financially speaking I have EF, insurance, and own some ph & us stocks and some crypto. Gets to save around 20%-30% of my income. Also travels abroad once a year and few times locally. With all these I still doubt my ability to raise a family financially tho.

 

[resjudicata]

@be4christ Afraid. Like no matter how much I earn, in whatever country, I am not sure if it can give my boy what he needs for a happy childhood.

I feel like I committed to a family too late.

But at the same time I know I can't live in a new condo in QC in the middle of this economy (and save) if I had children sooner.

Ayoko na lang magspend.

 

[iovere]

@be4christ Barely a millenial, but here's my story

My dad had ample millions left from my filthy rich grandfather.

Long story short, we're four brothers, me being the eldest, was left into the dumpster (in a sense) and is now us trying hard to even make it dent.

As for me, 27 year old high school grad. Broken Family. Never even experienced college whatsoever due to we're basically financially F'd. Helping out mom who's also struggling right now with her finances with her new guy and their new family.

Can't even afford salt to be salty about what happened.

Secretly depressed.

Idk man. I'm kind of in the middle of the bracket and was at least able to appreciate and understand the difference of the two generations and somehow use it to my advantage. I maximize whatever new stuff and old tricks there is from those two different generations to try gain an upper hand in this present and cope.

To answer your question, I'd be a little better if I had the average millenial experience where most of the stuff where available to my access, but I can be lazy at times too which does sometimes affect my decision making. Which then often making me do street wise sh1t I learned from the old that helps me finish or accomplish what I need to do even I don't feel like it. Making me another average working class filipino worker

Tl;dr

I'm economically F'd

 

[lilyanna]

@iovere Same with the majority of Filipinos. So… you’re not alone. Hehe.

 

[shaunf]

@be4christ My mother says me and my younger sibling has it best, that our father never had this high of a salary. But neither did my 4 older siblings, 10-17 yrs older than me.

How the fuck ever, purchasing power then doesn’t seem as bad as it is today. Wages don’t keep up with prices. You can buy your own property back then with just x times the minimum wage. That number x is way higher today. Even higher education fees keep going up.

I think back then it looked easier to raise a big family than today. And if they only saw what the economy looks like after 20-30 years, they probably wouldn’t give birth to more kids then.

 

[lilyanna]

@shaunf Parents got a land near SM (na wala pang SM around the 70s kasi nagka SM lng here early 2000s) and it only costed them like 50k pesos, paid monthly for 10 years. Now this property is worth millions. Hahaha!

I myself cannot afford any land nearby any SM mall now even if I make 100x my parents make monthly.

 

[shaunf]

@lilyanna Same story here. My mom bought ours for 10k in the 90s. And she was a housewife doing selling random stuff in the neighborhood. Can’t do that today.

 

[lilyanna]

@shaunf 10k nowadays is one decent dinner outside, good for 4. Hahahaha!

 

[eccemachina]

@be4christ I'm solidly in the working class, but thankfully hindi ako magasto so nakapag-ipon na ako ng emergency fund. May konting pera per month para sa leisure. Saving now for a Masters at mga NC II, for self-improvement at mas malaking chance na ma-promote.

 

[pollysorry]

@be4christ I am doing well, but I still feel any minute the economy will collapse

 

[mylifeiswithjesus]

@be4christ Parang may nabasa akong ganito. Is this from the book, Outliers?

I think it was easier back then. Especially with housing, its just a zero sum game. So unless may namana ka or you got help from parents, it’ll be really hard to get a decent property.

But in some ways, I would never have survived back then. My skills are more suited for todays time (tech adjacent creative industry)

 

[ntem]

@be4christ Have you heard about the 50 yr old chinese multi-millionaire who tried to go back to University, only to not pass all the entrance exams of any university??

 

[dccady60]

@ntem tell us more

 

[lilyanna]

@ntem Just heard it from you now. Hehe

 

[angela1963]

@be4christ WW2 was 1939-1945. Then we were under FEM. There was also no internet back then. You wanna go back? You tell me.

“If we all threw our problems in a pile and saw everyone else's, we'd grab ours back.”

 

[throwawaymana]

@angela1963 I don't think millenials nor Gen Z would want to go back except for the brainwashed or braindead ones. However, we're going back now whether we like it or not.

What we do want though are some of the opportunities that the earlier generations were presented with. Cheaper land and the ability to raise a family with just one job. Though in the PH setting, I don't think that was achievable even before.

 

[be4christ]

@throwawaymana Let's call going back, reset na lang ironically ano when u think about it. No one wants to have a world war nor a possible extinction level of pandemic however either of these 2 can give us exactly what we are looking for. presuming of course that we survive a decade later. Kasi kokonti tao e

 

[srinu]

@angela1963 Not hard to imagine that the cycle will repeat. This tension between US, China, Russia, and NATO countries, really gets me worried sometimes.

 

[haii]

@angela1963 Pretty much this. Lots of young folks prolly dont understand how underrated it is to live in an era of global peace and relative stability