Debt.
Love or hate it?
Seems like a silly fucking question at the personal level, isn't it? Why would anyone want to be in debt? Yet - the younger generations seem to love it, with under-30s in Finland in housing debt. Yes - you read that right - housing debt.
But they don't own houses.
Instead, they are getting into rent debt. And yeah, rent has increased, but not that much. What has increased heavily though is the young's expectation of what they need to buy in order to live. With the food delivery services doing a roaring trade, as well as online shopping aimed at the young, with BNPL support. Even groceries are being bought on credit, and delivered. Scooting around on e-scooters instead of walking a few hundred meters...
But it saves time!
What are you doing that is so important?
But why housing debt?
By the way... Schooling, including university education in Finland - is free. But what I think is happening is that while unemployment is high and they aren't able to get a large credit card debt, they are spending throughout the month and not allowing for the rent payments. And in Finland, there is some protection so that they can't be immediately evicted when too far in arrears, so they are pretty "safe" for a period of time.
But what kind of life is this to lead?
And is there coming back from it in later life?
I am not sure. But our future is influenced by our present actions, and our habits are strengthened every time we repeat an action. The younger generation really seems to be buying into the "own nothing" but I think they are soon going to discover that the "and be happy" is a load of horse shit they have been happily gobbling up, because it meant they could instant gratify.
Until they can no longer.
Because eventually, the multiple lines of credit run out, and all those consumer desires will go unfulfilled. And, like the crash after a sugar high, they will sink emotionally like a lead balloon. But while they have put themselves into this position by following the group behaviours - they will never blame themselves for it.
Even as they mull it over while sipping on an 8 dollar cup of coffee.
I was reading an article the other day where a survey found a large percentage of young people used their dishwasher and washing machine as storage space, because they would mostly order takeout, and would wash their clothes at home.
Ah... the entitlement.
I think at some point in our lives, regardless of the conditions or what happened to us, we have to realise that it is us who have to live the life. Our experience is our own, and even if external conditions or people are to blame, the responsibility of our own behaviour is squarely on our own shoulders. Even for those who are emotionally immature, socially awkward, or filled with anxiety.
No one is going to save us. We have to work our shit out.
What I can personally attest to is, debt sucks. And while I can't speak for everyone all over the world, most of these young people in Finland have had exceptionally good conditions in which they have been raised, schooled, and provided an ecosystem of opportunity. Yet, many are failing, even though they have been afforded support luxuries that many in the world would dream of. This indicates that there is a very strong global social culture that is driving the behaviours for debt accumulation.
If you want to be fit - do what fit people do.
If you want to be rich - do what rich people do.
If you want to be in debt....
Taraz
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