Reply to 70% of millennials live paycheck to paycheck

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Both my kids lived for free with us after college and grad school for a few years to save as much money as they could. No student debt either. There was no way I was letting my kids leave the nest without a significant leg-up.  They got merit scholarships in in-state so we did not have to pay for them. The money we had saved for their college was repurposed for grad school.

Living paycheck to paycheck is also happening due to lack of planning, overspending, poor choices and a shocking sense of entitlement. [/quote]

Glad your kids got to live for free in a major metro area after college, in commuting distance to high-paying jobs. They also had grad school savings that they didn’t save for themselves.

Most people don’t have those advantages, due to no fault of their own. [/quote]

Yes, its the fault of parents.

We lived frugally and far below our means for years to save money for college for our kids. All of this on one salary, as I am a SAHM.  We were able to save for prepaid tuition for in-state public colleges.  Our kids excelled in academics and got merit aid which made the college basically free for them.  By that time we had moved from LMC to UMC and would not get any need based aid.

Our kids have more advantages than we have. They have a home base and parents who can feed and house them. We are immigrants who had nothing and we were poor.

Are these poor millennials recent immigrants like us? No family in the US? Nobody to fall back on? I guess not.  So, they need to live frugally and save money. No eating out, group housing, taking public transportation...until they have some savings. My kids know that they do not have a choice but to live at home because they are also making 80K at their first job.
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