r/Adulting • u/Hopeful_alchemist • 13h ago
PEOPLE IN THEIR 20’s ARE WE ALL BROKE?
Is it just me? Or is almost everyone in their 20’s having a hard time paying the bills and getting groceries? Last year my finances were solid. Now recently — I’ve had to use my credit card more times than I’d like to admit. I have about $300 in savings as well. Please tell me I’m not the only one??!!
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u/-Bunny_Bear- 11h ago
Majority of the US doesn't have a high salary or even breaks six figures dual income, but go on Reddit and suddenly every individual person makes over six figures.
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u/EnvironmentalBad1928 9h ago
It's so lopsided when you go to any financial section of reddit. Everyone has 2 paid off cars, makes 200k and is conflicted about maxing their 401k or buying their third Airbnb
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u/AmbientRiffster 8h ago edited 7h ago
And none of them are real jobs either. The made up corporate excel and meetings type jobs are the ones that take home those absurd numbers
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u/Juno_JDY 7h ago edited 7h ago
I have a made up corporate job and my life is great 😀 and yes, I do get paid an absurd amount for what I do.
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u/Bikesguitarsandcars 7h ago
People leading high-level strategy and decision makers at the company level are definitely real jobs. Wtf
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u/Oaktree27 6h ago edited 6h ago
The salary subreddit is so funny because of this. Lots of posts about managers at Wendy's suddenly becoming $300k software engineers using "leet code and self teaching". It's clearly just people daydreaming about making fat salaries.
What's funnier is everyone believes it
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u/EqualHito 13h ago
I'm 29 now but I was broke until like 27. Genuinely, it took a career change for me, though.
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u/friedpicklebiscuits 12h ago
Same! I was broke until I was 26. I made 35k/ye and I’m almost 29 now making just above 100k. Things happen fast and it does get better. I did stay in my field though but I went from private company to a state employee.
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u/Jrgaming42 11h ago
I’m an accountant working in government making 52k I’m just 23m still in training. Hopefully I can get to six figures one day.
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u/EqualHito 11h ago
23 and making 52k is not bad at all man. You'll be double that when you're 30 with the experience.
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u/Even-Cup1654 12h ago
About to do the same lol just turned 27 and figuring out what’s next congrats to you
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u/New_Excitement_8986 12h ago
i was so happy when i discovered a jar of rice that my mom left behind so now i can survive for at least 2-3 weeks on rice and beans. never knew i would be saying this in the US but keeps you humble.
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u/TSPGuru 10h ago
As you can see, experinces vary wildly and is pretty much luck.
I got my first real job at 21, bought a house at 25, and am on track to a networth of 500k before 30.
Some people do better, and some people do worse. It's a spectrum of timing and opportunities, that at most, half of those outcomes can be attributed of your work ethic.
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u/ventrue05 9h ago
My dad pushed me out of the garage forced me to walk barefoot it naked-footed on black asphalt and I believe 98 degrees temperature weather outside what helped me overcome this obstacle in life is I had to find it in myself and calculate the whole pie and ultimately forgive my dad for being born in such a position that he was in.
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u/Few-Amount-1440 11h ago
This is super controversial to say but I feel like everyone is so materialistic and wants to “show off”. I worked my ass off to make 90K out of college and I live with 2 roommates. I don’t buy anything but groceries, gas, insurance, and my rent. I save/invest 80% and it still gives me plenty to have fun. My “broke” friends are buying every new video game, seeing every new movie, buying massive TV’s or going out and spending $100 on the bars every weekend. Idk what’s up but it just seems like people spend so much on stuff not needed
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u/ProductionGlass 7h ago
I don’t disagree with you, but we should be able to do all of the things your “broke” friends are doing AND have enough to save. We should be able to treat ourselves and make a living. I am like you and don’t spend money on any of those things, but I would probably be a lot happier if I could afford to more often. I think the heart of the issue is that a lot of Americans aren’t being paid fairly, not that they’re spending frivolously.
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u/dbzfloyd 6h ago edited 5h ago
I suppose it depends on perception. My family could not afford half the things I do now, but I'm 40. They didn't do the "frivolous" things that were mentioned. Very occasional eating out, at least for us kids. I think we only did sit-down restaurants once or twice on vacation; never any other time. One 5-7 day vacation a year at the cheap (Padre Island) beach 3 hours away. We took a few trips to theme parks outside of field trips.... Maybe 5 or 6 times growing up. We rode bikes and went to parks for family time.
I have no idea how some of these things became some sort of right for proper living. Roof, food, transportation, and a yearly trip was okay living when I grew up. My dad still managed to save some, and he never owned a new car.
I won't deny the fact it IS harder for Gen Z. Rent and housing is ridiculous for you guys. Transportation is almost so, and your generation tends to believe you should be able to buy new over used cars from the start. (I never have to this day, and I'm 41, sole earner, family of 5.) But to expect to be able to live like your parents before you are their age is a bit much.
I can understand the reason though. My children have done 10x as much as I did growing up. In our quest to make our children's lives better, we set their expectations a tad unrealistic.
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u/ProfessionalSir7743 8h ago
I know it’s a tired trope at this point, criticizing “avocado toast”. But many successful people I know, myself included, saved like crazy to get where they are. No $5 coffees, no eating out, no nights out with a $50+ dollar tab, few splurges like concerts etc. I know people in HCOL areas are struggling these days even doing that. There’s a reason people are flocking to Oklahoma and Texas and stuff, but I do think young people, partially due to social media, are just pressured to spend more on non essentials.
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u/WarCrimeGaming 7h ago
I’m not sure how old you are but those numbers really age you. That’s just the cost of things now. I’m not saying you shouldn’t live below your means, but I WISH things were still that cheap. I don’t go out like that either but when I do I plan to spend like $100-200 minimum.
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u/SurvivorFanatic236 7h ago
If I go out it’s usually like 2-3 beers max for under $30. If I get dinner add another $20 (which I only do when I’m away, if I’m in the area I live in then I always eat at home). I don’t get how people claim it’s impossible to have a night out without spending hundreds of dollars
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u/HZIDEZISS_2020 6h ago
People are into different things, it’s mostly differentiating personal preferences
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u/UseNo8386 11h ago
You’re allowed to enjoy your life & live a little. I agree that a majority of people excessively spend - but you also want to enjoy your life.
I spend money on things that make me happy, and some of those things are social.
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u/topsidersandsunshine 9h ago
Right? I used to have a lot of FOMO, but then I realized that I wasn’t getting anything out of a lot of social situations with my more materialistic friends. I’m so practical, but I realized that was no point in being overdressed and overstyled for, idk, an all-you-can-eat birthday brunch with bottomless mimosas. I love food and cute surroundings, but I mostly get full quickly and I can drink, like, half of one mimosa—in what world is that worth $55? I love social events, but I realized I wasn’t even having that much fun! Big group hangs are nice, but I feel more connected to people with one-on-one hangout sessions. I can scramble two eggs with ham and cheese at home.
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u/Few-Amount-1440 9h ago
I knew a guy who had a girlfriend who told him he needed more FOMO and made him do all these crazy boujee things everyday WHILE he was unemployed. He ended up being evicted and homeless then she left him….
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u/kabunarawks 13h ago
Just for your sanity, its not just people in their 20s. It's the vast majority of people.
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u/Photononic 11h ago edited 6h ago
I am a boomer. I turned 20 in 1985. I was broke until I was about 30.
Don’t let anyone lie to you. Almost everyone is, or was, broke at that age.
We had a major recession in 1984 then seldom gets discussed.
Identify theft existed then as well.
I made about $880 a month after taxes and paid about $450 for rent.
Lots of times I saw 6 or more people in a tiny three bedroom mobile home.
Many of my friends made babies at 19 or 20. Damn bad move no matter how you look at it.
Really not much has changed.
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u/Apprehensive_Dig967 13h ago
I was very broke in my 20s , now i make 6figures married and have 2kids and would say I still feel pretty broke due to inflation and HCOL
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u/S_balmore 7h ago
Did you think people in their 20s weren't supposed to be broke? C'mon. Being broke is one of the defining characteristics of being in your early to mid 20s. If you're broke in your 30s, that's a problem, but there's nothing unusual about being a broke college student, or poor recent grad. It's be more unusual if you weren't broke.
What even is in this post?
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u/Blackiee_Chan 6h ago
Pretty sure I was broke from 15.5-33 that was just how it was. Now I'm an established adult and make a lot of money...and have just as many bills. Lol
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u/exor0110 5h ago
Uh, no. I got out of college and did well. Times have changed. New graduates now are facing a much worse job market and higher cost of living.
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u/Just_curious4567 5h ago
I graduated in 2008 and did not do well. There were no jobs. I was very broke in my 20’s. I eventually pulled myself out of it, took multiple jobs, always had roommates, beater old cars, and was able to pay off my student loans before I turned 30. Most people are broke in their 20’s
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u/maddeningcrowds 10h ago
No. $40k in savings, no debt, just bought house. Yearly gross income $60k-$90k. Below MCOL city in California. 27M
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u/DopeCookies15 10h ago
Right, everyone complains about not being paid well and being poor in your 20s like its a new thing. You don't come out of high-school or college and have companies that will pay you 100k. We were all poor broke 20 somethings at one point.
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u/maddeningcrowds 9h ago
Yep as long as you keep chipping away at something and don’t just do random entry level jobs the whole time you’ll get somewhere. In my later 20s now I’m seeing acquaintances and former peers starting to move up into higher positions and making substantially more money
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u/whatdoido8383 9h ago
Right. I was kind of broke into my 30's paying college loans off and what not.
Another thing I see with 20 somethings now is a lot of them assume they can just go out and love on their own, then wonder why they have no money.
I had roommates until I was in my late 20's and moved in with my girlfriend. Then we split the bills.
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u/Diligent_Deal8022 10h ago
so did your parents pay for everything during ur undergrad and/or get u into a great job bc how is this possible
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u/maddeningcrowds 10h ago edited 9h ago
Worked full time during college. Worked summers off doing wildland firefighting. Not really a great job but if you’re not spending much even a decent job will allow you to save a lot
Edit: also graduated with a BS a year early
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u/Empty_Calendar6191 10h ago
What was ur down payment on the house because how did u save up enough on a 70k salary for a down payment + 40k + how would u afford the mortgage on that salary
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u/maddeningcrowds 10h ago
$80k. $400k house. Wife works. Saved up doing wildland firefighting during college and not paying rent either living in government barracks or my parents basement in the off season
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u/Empty_Calendar6191 9h ago
That make more sense with the no paying rent part plus dual income. Congrats!! I got my degree in financial planning and I hope to have a house at your age but we’ll see it’s rough out here on single income/HCOL city
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u/rainbow_stripcandyyy 12h ago
I had money until I went to law school and now I am 22k in debt 😓 hopefully I’ll be able to pay it down soon after graduation
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u/WaffleWednsday 11h ago
If only education was free smh. makes no sense to have people end up broke or almost broke after graduating college.
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u/UseNo8386 11h ago
I’m 29 and yep I’m broke. Moved across the country to a HCOL city, got into debt, and moved back home to small town to try to pay off that debt.
Finally was able to save about $5k… and I do have some in retirement from my old job. I used to live paycheck to paycheck.
Back in 2020 I made only 43k and saved $10k… now I’m making 30k more and having so much more struggle trying to save :(
Now I’m trying to live below my means. Pay off debt as soon as possible & cut back on spending of going out to eat, shopping, etc..
But it’s hard. Even hearing people make $100k+ is insane to me.
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u/Miamiheat2021champs 12h ago
Honestly prices were starting to stabilize and go down before the tarrifs and war started
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u/Vivi_Pallas 12h ago
✨ As Fuck ✨
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u/Hopeful_alchemist 12h ago
Makes me feel better that I’m not the only one but also hope sh*t turns around for the both of us, sooner than later. This economy is bs
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u/juicegirl47 11h ago
25 self employed and making more than i ever have but still feel behind. I did start putting more aside for taxes/savings though so its forcing me to save but im very much penny pinching what is leftover lol.
A lot of it was lifestyle for me. For example i used to buy more expensive shampoo since i get discount from supply stores but i cant even justify spending that anymore so $10 pantene shampoo and conditioner it is lol. Gas is up our mortage went up everything is just expensive now!
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u/juicegirl47 11h ago
But nope you are not alone. Work is slower for me as well i think because of people having to pick and choose what to spend money on now more than ever
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u/CocoSumsum 10h ago
Pantene seems expensive to me lol $1.89 suave works pretty well
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u/blueberryswing42 10h ago
I punch myself for not saving more money when I was in my late teens/early 20's working part-time while living at home. Honestly, it's pretty much the cost of rent that does me in the most. Had a roommate previously, then they got married and moved out and haven't had a replacement. I'll be 30 soon, and while I really love my current apartment, it's basically one whole paycheck for rent, and I'm genuinely considering whether I should just move back home so I can finally build up my savings.
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u/No_Parsnip6024 1h ago
I had a lot of life stuff happen, and moved back home at 29.
I took it as a serious opportunity. I got a better job, I worked and saved, I got out of debt, and a year later I moved into an apartment with my girlfriend.
It helped me get setup and buy a house a few years later. Now I'm married, a homeowner, have nice cars etc.
It was a HUGE help in getting my life back on track.
Just take it as the opportunity that it is, and not as dick around time at the parents house.
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u/CreditReavus 10h ago
I feel like most people under 25 are going to be broke by default since they’re still searching for their career. Nowadays you’re realistically not going to have a decent salary until late 20’s
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u/kbkrl1524 10h ago
It's almost like a passage to adulthood to be broke in your 20s. I was and had the best time
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u/BillowingBasket 9h ago
This is such a stupid take. For the past 3 decades this period of "you're supposed to be broke for a while" keeps getting longer and longer and longer. At some point, we're no longer young and still getting paid shit wages. Home ownership and raising a family has never been less possible for the average person. It's not a good time and stop trying to tell people that's how it's supposed to be.
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u/heyczechyourself 10h ago
I did too. I would go back in a heartbeat actually, I had so much fun. More money, more problems was for real.
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u/solohippie 5h ago
Yes. Somehow someway my grocery bill has doubled. I don’t know why because I’m really not getting a ton more items. Sucks because I feel like I don’t eat enough and I eat the same things over & over & over again and yet I still can’t walk into a grocery store without feeling like I just spent a ton of money
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u/SaffronsTootsies 4h ago
Oh it’s not just you. It’s also people in their 30’s and early 40’s! Oh and retirees. So basically everyone.
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u/CaliforniaSpace909 4h ago
We’re broke not poor remember there’s people who will switch lives with you in a instant put your head down and get to work
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u/CaliforniaSpace909 4h ago
Personally I’m broke af but I have a safety net for bills and car payments and if anything happens in life
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u/ThrowRAgirl1010 8h ago edited 7h ago
i just turned 25(f) and i’m not broke. i worked extremely hard to be in this position tho. no rich family, no emotional or physical support, no romantic partner. went from living in a warehouse or 1 bedroom apartment with my dad to purchasing my own home at 24 with about 32k equity, 35k in retirement, 42k investments, 24k in savings, two cars, 14k in gold/silver. net worth is probably roughly 150k, salary just bumped to 115k before bonus. i have no kids and 2 cats, but i am the most miserable i have been in my entire life. i am sacrificing my youth to set up my future, i wish this on nobody.
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u/CommandWar99 11h ago
No we are all not broke. Get off of Reddit
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u/Interesting_Road_836 8h ago
Fr, I recently realized what a cesspool of negativity Reddit can be, tons of people just complaining and keeping themselves down.
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u/tom_without_jerry 13h ago
Many waste their money. Start with the envelope system. Where you place your income in different accounts or physical places. For rent, food, medical, car fond, investing and so on. If you have something left, then you only use that. Make every dollar count when you are young, builds good habbits. Good luck
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u/DistributionOk6951 11h ago
No, I plan on buying my first home this upcoming summer on my own. I’ll have $20k emergency fund, a fully paid off 2020 Camry and I’m still investing into my retirement with a union pension. The skilled trades are the way to go, I have no debt and I can get a job anywhere I want.
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u/Early_Ad2733 11h ago
SOMETIMES, it depends on the lifestyle people choose. Expensive payments, high rent/mortgage etc. Gotta be willing to live below your means !
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u/LoveOrder 11h ago
early 20s i was soooo broke i went into credit card debt just to run around with my friends. now as a 28 year old, nope, def not broke. i’ve been aggressively saving with a combination of low rent, high income, and a hoarding mentality
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u/Stormlover1990 11h ago
I was broke till about 26. Did better till 31 (divorce). 34ish to present (I’m 36) doing way better than ever and stacking the money. Guess what I’m saying OP is being broke in your 20’s is super common and life is full of ups and downs but it does get better eventually.
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u/Hour_Shirt5508 12h ago
When I see somebody that I know makes $120k with a 80k truck, you can assume they’re broke lol
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u/SweetLittleKarma 13h ago
Just turned 30 but no I wasn’t broke in my 20s. I consider myself thrifty/modest and good at saving. Older car but it’s paid off, clothes are mostly second-hand, and I went to junior college/state school so I didn’t have huge loans and could pay off rather quickly.
Yeah there are people where their wages are not enough but there are also a lot of people who make good wages and spend it on trendy viral junk or on “luxury” labels.
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u/Quinzos-deserved-bet 13h ago
I'm 40 now and doing fine, but when I was 20-25 I was broke with 4 roommates. Holy shit you're all insane. You're not supposed to bank at 20, not ever in time.
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u/Major-Direction5623 12h ago
Idk how people afford to live by themselves. I got a roommate during my first job, before moving in with my partner.
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u/Muerte_00 12h ago edited 12h ago
22 with 15k + in the bank , 3$ on credit card ( I hate debt so I avoid it ) . I try to watch how I spend my money . It helps that I still live with family though . If you make it a priority you can get it done even 10 bucks into savings every paycheck turns into something big eventually but let’s not forgot our dollar has lost value !!
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u/mklinger23 12h ago
I'm doing decent, but not anywhere near where I thought I'd be. I'm a mechanical engineer so theoretically near the top of the "normal" salary range.
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u/Girlidklmaooo 12h ago
Hi, early 30s here, I have $13 😂 I’m in the middle of a career change tho so its chill
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u/Extension_Clothes295 11h ago
Yes I feel you, being from Canada, our government is corrupt and is focused on housing immigrants while taxing over 25% of my earnings
I dont really buy anything im very frugal but still hard to save up... The united states of isreal is where I need to move to make a change
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u/BackgroundQuit4919 11h ago
I just want to be an adult in their 20s that can afford housing. There's pros and cons to everything but I would of done a few things differently but I never had stable housing since high school so it's just life. I went to college and still making $19 an hour😭 Im trying to change that
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u/omnicron_31 11h ago
25 and until I got a current job I was feeling very broke (4th job since graduating college and they were all pay increases). I actually have a budget now and can afford to comfortably buy things w out feeling financially irresponsible and I’m almost out of all my consumer debt, besides my car.
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u/sunflowerwithlegs 11h ago
I had to ask my mom if I could use the money in HER piggy bank to pay bills so yeah I’d say I’m broke as hell!
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u/carribbeanjue 11h ago
My death is coming soon I’m telling you i can’t keep living like this omg😭😭😭
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u/shatteredandroid 10h ago
I loosely budget make less than 50k a year before taxes, and I’ve got about $2,000 in savings, $37k worth of paid for vehicles, some of those will increase dramatically in value once their rebuilt, but I was dumb in my early 20s and had to live on credit, and I’m paying for that now as I’m still roughly $5,000 in collection debt, and around $7,000 for a motorcycle that I didn’t account for in that vehicle value.
Either way, I’d still consider myself very much so broke even tho I am doing a little better than others
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u/JustaNick7 10h ago
I’m in my 30s and broke lol I even have a good job too (scientist) but I’m going to start donating plasma
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u/No-Food8027 10h ago
Nah, I have 78K in savings. But would trade it to be healthy normie in a heartbeat.
Yea I do work, I'm not on disability.
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u/Competitive-Rub-8092 10h ago
Finished school at 24, got a good career going now at 27 making over $100k. Went on 3 international trips and one domestic so far this year, about $40k in savings. Still renting currently to save money as I save for a home, but our rent is quite cheap and I drive a brand new vehicle, so doing pretty decent I think
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u/Anon2148 10h ago
My friends are all living with their parents. The people who don’t make good money aren’t broke either. Also with most people getting their big boy jobs, I feel like people are spending and investing more than ever.
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u/nativevirginian 10h ago
Personally, I know very few people who are financially struggling in their 20s. While some have higher student loan balances their incomes support the payment and their lifestyle.
I’m 27. $18k in the bank. $100k in retirement accounts. Only owe $5k or so on my 2022 SUV worth $25k. I typically earn between $80-$95k per year. Owning a house seems out of reach but not impossible.
I paid off $26k worth of student loans by living at home. My parents don’t assist me financially other than helping me out a little (sub $4k) when I was in a pinch between jobs last summer unexpectedly but they did cover 90% of university.
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u/Appropriate_Try191 10h ago
I make about $22 an hour. Always thought I was poor and it’s impossible to break out of it. My best advice is get a budget board and lock it in.
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u/FamousArm2715 10h ago
I hv $500 on savings. $5k in my 401k. $55k remaining in student loans. I’m 23 and have a full time job. So yes. We will learn to manage it better eventually.
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u/anusflytrap- 10h ago
i’m stretching $20-30 for 5 days, the rest of my check is spent the day i get it or the next day. no savings. no credit card.
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u/Fvkupsamcommas 9h ago
I would say I was broke until this year (26years old) now I make just a little bit over a 100k but I’m a diamond driller which means tough days but I also have very low living expenses. It all the depends on perspective op but what I do know is if you have a goal/dream and stay on it the finances always seem to align. Trust
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u/avalonrose14 9h ago
I don't consider myself broke but I'm sure a lot of others would. I don't stress about bills, have no debt, etc but I can't really afford to DO anything. I don't travel. A vacation for me is just staying home gaming all week or driving 3 hours to a local bigger city. There's really no "extra" money to do anything outside of my current lifestyle. I don't eat out much, I don't buy new clothes, I just don't really spend much money ever.
I am buying a house though (I close in a few weeks). So that's part of it. All my extra money is going to savings for the next few years so I can build a big enough house safety net in case I lose my job or face a major repair. I can no longer just move home if everything goes to shit without y'know foreclosing on a house. So I need to have plenty of money to get me through shit times. Which means every spare dollar is going to savings right now.
Once I build up that safety net I'll be able to start putting that money into fun savings for things like vacations and trips. I'm 27 and hope to be able to start actually doing fun stuff around 31 or 32. But we will see how life plays out. It might end up being a bit longer if major expenses pop up.
I live in a lower cost of living area though. But I also only make $23/hr and I likely won't make much more ever. Just yearly minor raises. So y'know. It is what it is.
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u/Sophisticated-Crow 9h ago
Had no savings through most of my 20s. Though, the economy is a lot worse now than even a few years ago. And much worse than 20 years ago.
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u/Spare-Gur5175 9h ago
I'm a 20 yo guy and have an identical situation to yours and getting my cheeks clapped by the bills.At the end of the day don't worry at all you not the only one my brother.🤝
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u/hangrycaterpillar 9h ago
Millennial here, I was broke in my early 20s but after my first salaried job I was able to start saving.
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u/Hevens-assassin 9h ago
Where you live will determine the answer to this question, not the age of the individual.
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u/Sewmoore 9h ago
Just turned 30- can report still broke, living paycheck to paycheck, no savings. Gotta love it
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u/BillowingBasket 9h ago
I'm 30 now and more broke than I was at 26. It does not, in fact, get better.
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u/ThickAttention5832 9h ago
Nah I'm balling. But I wouldn't be if I hadn't gotten a massive jumpstart and support during education from somewhat wealthy parents.
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u/solo_leveling222 9h ago
The amount of student debt that I have 30k and unable to afford an apartment or house
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u/VehicleExcellent7946 8h ago
Fresh out of college i currently live with parents, not paying any bills except personal expenses and business expenses, saving away as much as i can and researching best ways to invest
if you're done with school and you're just starting adulting you might feel tempted to move out and rough things on your own please don't it makes things so much harder, if you have a family that lovbes you stick around a lil bit longer, sure it might be annoying sometimes but beats living paycheck to paycheck
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u/ArmComplex1054 8h ago
I 26m -$760 and -$5k on a closed credit card that I’m paying 98$ a month for the next 5 years. I did buy 2 ounces of gold with the credit card. Ironically my best investment. I do have 2 state pensions vested. But my credit score is like a 450 😂. I have 9k in ee bonds and a 4k check coming the 30th. So I’m not like poor but I don’t got no money.
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u/Remarkable-Print1563 8h ago
Yes, but my boyfriend is now not. I don’t expect nor really want any help from him. Most of me is happy for him and part of me is asking, why does mine seem so much harder to get through?
It’s kinda empowering but more and more I begin to feel like a loser. I’m used to having it figured out, but just keep moving forward.
Try to use the dollar stores as much as possible for random things to just make things a bit easier on yourself. You can see if you qualify for a local food bank, you have to be making below a certain amount per yeah but in certain areas it’s 45k. This tip helped me be a bit more conscious about how I’m spending and where, ONLY SPEND IN CASH. You’ll see where and how much and you’ll start asking yourself where the things you want vs the things you need come into play.
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u/DeadlyArrow27 8h ago
Understandably so. It’s the time when:
A. Most of our funding from parents is greatly reduced, if not completely cut off
B. Most of us have to invest a ton of money into college or some trade school for our futures
C. We can now do practically whatever we want, so we want to enjoy hobbies and purchases that our parents might have stood against
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u/Crowned_Hero 8h ago
26M just hit 100k invested this week. That being said I haven't lived with family since 19, I just do not indulge in any bad habits such as gambling, drinking, smoking or buying random bullshit
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u/ThrowRAgirl1010 8h ago
i just turned 25(f) and i’m not broke. i worked extremely hard to be in this position tho. no rich family, no emotional or physical support, no romantic partner. went from living in a warehouse or 1 bedroom apartment with my dad to purchasing my own home at 24 with anout 32k equity, 35k in retirement, 42k investments, 24k in savings, two cars, 14k in gold/silver. net worth is probably roughly 150k, salary just bumped to 115k before bonus. i have no kids and 2 cats, but i am the most miserable i have been in my entire life. i am sacrificing my youth to set up my future, i wish this on nobody.
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u/anonalien- 8h ago
Yes probably thanks to the old fuckers that run this stupid country (and honestly the whole world)
I love when 1 person makes more than 99% of the economy!
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u/sebastiand1 8h ago
I’m broke in the sense that most of money is in investment accounts but I’m doing good for the most part. No kids and single just like I dreamed of when I was a kid.
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u/marcgw96 8h ago
I’m not broke, have a decent amount of money saved up at 30, but I can really only attribute that to the fact that I lived at my parents house for 4 years or so after graduating college. Also, when I did move out, I was able to move in with a couple friends in a place in Seattle at only like $800 a month after being split between us.
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u/Mountaineer326 8h ago
Not broke, but 2 missed paychecks away from being in a really tough situation
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u/DeepPurpleNurpleBBY 8h ago
As someone in their 30s, brother it ain't much better even making more money than I was in my 20s.
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u/MugenHeadNinja 8h ago
It's at least a good 90-95% of the age range that are broke, don't let online exceptions fool you otherwise, they're exactly that, exceptions.
Also, shit's been getting continually worse and worse since at least the 70s if not longer (and that's only accelerated in the last ~20 years, unfortunately for all of us), there are far more people who are broke than there are people who are completely well off and not struggling in many regards.
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u/Natural_Criticism329 8h ago edited 7h ago
not really… but i feel it. i live with my parents so it has its perks. i was a contractor originally when i graduated and was making $40/hr and i worked 12 hr shifts everyday so the checks were insane. i paid off all student loan debt i had. read some book on finance, consolidated my credit card debt and paid that money back within months. i paid my car cash 2017 honda accord back in 2019 and plan on driving that to the ground though im saving $500 each check for a new car in the background hopefully cash too i refuse to pay APR. converted fulltime and now im making $4-5k with all deductions taken out. I contributed $2k to IRA last year and maxed it out at $7.5k this year. The rest of the money is going to traveling and saving up short term and long term goals (car, house, apartment, want to start AirBNB so i have that in a vault).
so sure im making so much more money than i was in college, but it still feels like its not enough. $82k salary + 10% annual bonus. 25F and graduated college 2025. im insanely grateful though and this is a blessing as i was working 2-3 jobs outside of being fulltime in school when i was in college. and currently pursuing my MBA my job pays for.
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u/Various-Classic-4229 7h ago
Your 20s aren’t meant for you to be rich 😂😂. Many get their bachelor’s, master’s and doctorate degrees in their early 30s because actually having a stable income.
Your 20s are your grinding days for going to college to study 📚 while simultaneously working on the side so to move out in your mid-20s. Some go into trades, military, apprenticeship….. but your 20s aren’t your glamorous years.
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u/Strange_Sherbet_2792 7h ago
i posted in a finance group on here trying to get help with info looking to buy a house they all crucified me for having no savings. we all starting out making almost nothing and living in an economy that is above our pay
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u/alpha-sigma-male69 7h ago
personally i wouldn’t say i am. i dont have the most glorious job or car, but all my bills are paid and i have well over $300 in savings
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u/Negative_Aerie2825 7h ago
Nope. Take the risk and start your own business. Rather go fully broke than slave away to another man in a 9-5. Theres a joke here for women but ill not say it
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u/ProductionGlass 7h ago
28 and have 40k in retirement, 15k in brokerage, and 15k in savings. My college was paid for by my dad’s best friend, so that’s kind of the only reason I am in this position. Given the free college, I feel like I should be much further ahead than I am, but I am at least secure for the moment.
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u/Haunting_Try6753 7h ago
There’s like a million reasons someone can be broke which are not just spending too much on useless stuff or being lazy but no one really cares or believes you anyway
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u/Worried_Doughnut_303 7h ago
Breaking News: Young people starting off in adulthood are broke. They were in 1966, 1976, 1986, 1996, 2006, 2016 and again in 2026.
🤣
Don’t be so hard on yourself. It’s normal at this stage in life.
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u/Lowlife_4evr 6h ago
I’m 23 and have been working full time since 15. I own three trucks outright, I have pretty good savings and retirement and I’m in the process of buying a house.
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u/StrangerIcy2852 13h ago
Unfortunately i am not making 100k+ luke evryone i see on social media but i am paying all bills and going on a 2 week vacation with my mediocre salary so I would say I'm not broke