Like most women, I was counting down the days to the release of Sex and the City: The Movie. The movie was disappointing but it did get me thinking about the amount of focus Gen Y puts on image and fashion at the expense of budgets and savings.
There probably isn’t a woman out there who hasn’t been tempted to blow money set aside for a bill on a pair of “must have” shoes, but Gen Y seems to be taking it to a whole new level. The rising pressure to be fashionable has many Gen Ys spending on despite the declining economic environment.
As a Gen Y, my view is that we just don’t understand what its like to have to scrimp and save through an economic downturn. We were born into the good times, so we can’t fathom anything else.
But is Gen Y fully to blame for its reckless spending? Never before has a generation been so pushed by advertising and the media to have the latest fashions or own the most up to date gadget.
I personally do not make a conscious effort to limit my spending. I am typical Gen Y – I want it now! While I have yet to default on a bill to buy Carrie’s latest Manolo Blahniks, I am undoubtly spending too much on things I just don’t need.
