Are We The iPod Generation Too?

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Lest you think things across the pond are so much better than things here in the States, I read today that according to a British study young people here are worse off now than their parents at the same age. In fact, they are coined the iPod generation – “Insecure, Pressured, Overtaxed and Debt-ridden”. Sounds very ominous, doesn’t it?

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  1. Case in point, look at all the personal finance bloggers who are “debt-ridden” ( myself included). As for overtaxed, insecure and pressured, I would agree with the article, though I’m not in the 41% who live with my parents.

  2. currency trader says

    that is totally true. I graduated last year from college and I have about 40K in student loans, not to mention other debts. I feel like my generation (I am 23) just expects everything, like its 1999 and we are computer programers or something. When was the last time you heard about 20K signing bonuses, or cars for college grads?

  3. I’m not sure about our parents, but it always made me furious to hear old people (in their 70’s) say “kids got it easy these days”. As a matter of fact, it’s a single 100% way for an old person to piss me off.

    When I bring up things like the GI Bill, the economy, the education credits, the almost complete lack of foreign competition, the stability, etc, they just mutter something about loud music, video games, and their granddaughter’s piercings.

    I hope I’m one of those progressive, adaptable, and open-minded old people you don’t see too many of. After all, in 40-50 years a huge chunk of population will have grown up with Metallica, Pantera, Tupac, etc …

  4. The iPod is also going deaf, dumb, and lazy. No one wants to do hard work, they want instant gratification. Kids today look up to rap stars and movie stars would spend enoromous amounts of money.

  5. I think we or young people have it easier than older generations to make and save money. At the same time however, the possibility of getting into debt is much easier.

  6. We create the situations we are in.

    People that feel like they are in the IPOD generation need to pick themselves up by their boot straps and get to work. I certainly wouldn’t consider any of my fellow PF bloggers to be in this situation, but that’s because they’ve taken ownership of their lives and are seeking to improve themselves with knowledge.

    It’s so much easier to cry and say “Why me?” than to actually do the work that’s required to be successful in life. Certainly some people have been born in to difficult situations and I’m not really referring to them, but I am referring to all the children of middle class families that keep wondering why their “mad skillz” on video games hasn’t translated to a $100K a year job. (Yeah, I know, there are a few of those, but for the rest of us…….. We have to be realistic). Okay, I’ll stop ranting now.

  7. I’m part of the Po generation.

  8. I wonder if whoever coined that term, thought of iPod first and then came out with the meaning, or the phrase, and it happened to be ipod.

  9. Hello there, This has been bothering me for a while and I really did not know where to link it and since I am your very regular reader here goes:

    Got sick of getting fist full of mailers from ADVO/Shopwise. It is such an absolute waste of paper and ink and no to say–trees. Please advise your readers to call ADVO at 1-888-876-ADVO to STOP sending these useless mailers…This could .5 points towards a greener environment. Thank you!!

  10. Can’t see this myself. I think the only negative financial thing for young people is the debt from university. University education should be free, with certain restrictions i.e. the student must have the right grades to qualify. But why is it that the government want so many to go to Uni (50%)? It’s not for everyone/

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