by Phantomgrift » Thu May 16, 2013 5:54 am
Well, the studies I was looking at did correlate with that one... To a certain degree.
A lot of lottery winners don't have the foresight to handle the cash because they aren't used to that much money, and in many cases, treat the cash as though it's a bottomless well instead of a finite resource that will eventually run out.
However, that didn't account for the fact that, again, certain celebrities, athletes and inheritance kids are some of the worst offenders when it comes to buying paltry crap that you didn't even know existed. Watching a few episodes (for as long as I could stomach them) of MTV's "Cribs" highlighted this routinely. Some rapper talking about the massive walk-in closet for the 200+ pairs of shoes he had.
That's not as easily explained as "Society deemed it so, so they spent."
I think a lot of it ties into the personal aspect of character and personality. Just try watching five minutes of "My Sweet 16" and listening to some princess twat crying because mommy and daddy bought her the wrong color of car.
Some of it is decidedly cultural and social changes.
This was highlighted by an article in a Business Monthly I was reading that was espousing the issues of hiring certain generations. IE. Our great-grandparents age group went through hardships and depression and therefor locked onto the value of a dollar. When you had cash, you kept it. When you had a job, you maintained loyalty to that job until you died or they sent you on your way with a handshake and a cheap gold watch.
Baby-Boomers brought a new level of asking what the company could provide for them to a certain degree, IE, certain benefits, vacation, etc.
Both still viewed the job as a place where the boss or the company had ultimate sway and what he said usually went because they were the boss.
Gen-X'ers? Millennials? New demographic coming from a "Just Do It" generation of the eighties and instant gratification in everything from electronics to food-services, etc. Ergo, they hire onto a job and they want to know what they'll get out of it. Leadership is no longer a boss in an officer, they want someone right alongside them to literally "prove" that they deserve the respect of the employees.
Something of that nature trickles into the money situation.
Older generations knew hardship, knew strife, realized the proper part of planning for a rainy day. Younger generations didn't have as many of the hardships to shape their thinking in that manner.
Consider the aspect of war and disaster. Older generations went through times that shaped the nation and the society. World War I, World War II, The Great Depression, The Cold War, Vietnam, etc. The eighties and the nineties? For all intents and purposes, those were the longest periods of relative peacetime the United States has ever seen. This is reflected in generations born and raised in that timeframe.
Even to contrast myself. I was born in the late seventies and grew up during the eighties. I had a large family and a Air Force father. Money wasn't horribly tight, but between my parents, I learned what it meant to shop smart, save your cash, invest, plan for purchases and determine what you did or didn't need. I grew up with a old Atari and Intellivision and didn't have my own system until I purchased my own Playstation after leaving home. Thanks to my dad being a electrical nerd, I did have a home-computer on hand.
My jaw hit the floor when I was in my late teens and we visited one of my dads coworkers. Their six-year-old son had two tv's, three game systems and a computer in his room alone. Different generation, different mindset.
I've watched my spending capability increase as the years have gone by and my paycheck has risen with my promotions. But I'll still hem and haw over major purchases. Yet I've got a junior sailor that I had to sit down and have an earnest talk with over his cash. Kid was in his early twenties, an E4, married, with a baby on the way... And he was hard-up for how he wanted to buy himself a new BMW. It took me and another E6 to outline how that was kind of foolish, especially considering the price of an oil change alone for a BMW is expensive and specialized. Even though he finally came around, he initially didn't consider those things. He was of a generational mindset that said: "I want a BMW, so I can get a BMW." with no correlation between instant purchase and long-term planning.
Waiter... Waiter?
Curses! When will I ever remember; Order dessert first and THEN kill everyone in the restaurant.