$aving, $aving and more $aving

As I looked for an article to analyze and comment on this week, I have come to a conclusion: People love to study Gen Y. Any mention of Gen Y in a story is backed up with "a recent survey". I am utterly impressed that people are mystified by our generation.

The article I finally found concerns the fact that a survey has revealed that we are exactly like all the other generations before us. The story surrounded the survey of 1220 Gen Ys and revealed that most of us live with our parents.

Well, I sure that most do, but I don't know anyone who is my age that lives with their parents. I have experienced living without my parents for almost three years now, but I did not have financial independence until this semester (if you count a student loan as financial independence).

Although the survey was primarily conducted of Australians, the entire purpose was the prove that Gen Ys are saving money like no one before them!

Ms [Jessica] Shields lives with her parents, while working full-time, studying for a business management degree and saving $300 to $400 a fortnight towards a home deposit and she says that is not unusual among her Gen Y friends.

If only I had enough courage to live with my parents another three years... Ahh the memories. Seriously though, I could not manage it. The tension in my household seems to skyrocket when I do come home to visit. Hooray for Jessica, though! I wish I had the money to start saving up for a house. I know that is a top priority for my friends, and we speak of it frequently. I just never asked anyone if they are starting to save for a huge expense like a house.

Another paragraph in the article made me smile since I know the truth of it firsthand:

Most [Gen Ys] also had conservative spending priorities, with petrol, mobile phones and takeaway food their biggest expenses. Clothing and entertainment rated as "very low" spending priorities.

That is extremely true for me with the exception of the clothing, but I swear, I can explain! Especially over the past year, my spending has gone from "I really need this," to "I am NOT paying $3 for that!" The "that" in the second statement just so happens to be bread! I have found that since I have moved closer to graduation, the petty stuff like ridiculous spending has slowly screeched to a halt.

Now, as far as the clothing goes, I am simply gearing up my wardrobe for the "working world." I am not simply buying a shirt because it is "cute." This is an investment in my career, or at least that is how I have been looking at it.

The article breaks down to this: Supposedly, most of Gen Ys are saving like crazy for a house. If I could, I definitely would be saving. However, I have made the choice to study myself to death and get out of college in three years. This decision has made it a requirement for me to take about 19-20 hours a semester, [16 in one summer, EEK!]

This is the choice I made, and saving for a house is probably a better goal than the route I am going. But these are the things that diversify our Gen.