Revealed: the 30-year economic betrayal dragging down Generation Y’s income. Exclusive new data shows how debt, unemployment and property prices have combined to stop millennials taking their share of western wealth.

If you live like a low-wage earner in the 60s did it's not out of reach. My sister-in-law and her husband do it (sizeable house with a garage/backyard, 2 dogs, 2 kids, wife doesn't work), but it's not something most people in the US would put up with.

  • They eat out maybe twice a month - including fast food. She makes big meals like stews and casseroles and they eat leftovers for 3-5 days.

  • They live in a small, boring town 20 minutes from anything and 1.5 hrs from Denver. There's nothing to do in town, at all. You sit at home and spend time with your family, maybe go to a friend's house and do the same there - that's it. Going to the used book store is where they get entertainment, not the mall. They got their only blu-ray/dvd player for Christmas this year from us.

  • Their vacations are weekend camping trips to national forests where they (again) eat leftovers. No hotels, no restaurants, no cabins - tents and campfires is it.

  • They have one car (his work truck), one "dumb" cell phone, one not-HD not-flat-screen TV, one ancient desktop computer, one cheap tablet, and the lowest tier of high-speed internet. No cable, no netflix, no hulu, no amazon prime, no sexy new phone, and the internet is too slow to stream video. They watch OTA television, that's it.

  • They didn't go to college, which is probably the biggest pro. Student loans cripple you for decades and because they were both quite honestly too stupid to succeed in high school let alone college neither bothered trying.

Luxuries have become so accessible to everyone that we've come to accept them as necessities and it's killing the finances of this generation.

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