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Feb 04, 2019 01:04:56

Millenial money woes?

by @vickenstein | 236 words | 🐣 | 218💌

Victoria Maung

Current day streak: 0🐣
Total posts: 218💌
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US students spend more time working paid jobs than going to class, according to an article published by the Chicago Tribune. An HSBC survey claims that students spend an average of 4.2 hours per day working paid jobs, which is 1.4 hours more than studying. 

This statistic runs along with my observations as well. If the system is forcing us into taking on burdens we cannot afford, something is not working. For some reason, the narrative that young adults need to take on undue financial burden to succeed in life is remarkably pervasive. 

Ironically, it's a strategic nightmare for students to spend more time reclaiming, at best, 10% of their tuition money than spending time on utilizing the product they are buying (a $40k+ education). And even though this doesn't make logistic sense*, I think it's the anxiety of financial vulnerability that drives students to ultimately do this. We should theoretically have budget to sustain ourselves for our daily expenses and any potential accidents before making a large purchase, but this isn't always the case for a lot of students in higher education.

Maybe this is one of the reasons why students with rich parents fare well financially in the future--they have the luxury to focus all their energy on school. Thoughts?

* = Fortunately at my school, lots of paid jobs involve work related to our studies and/or passive positions during which we can accomplish studying.

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