I agree with Kristen that Generation Y, which is what I am considered under because I was born 1991, is one of the largest groups that markets are trying to reach. There's no surprise how much money we spend in our lifetime is extremely high, it almost seems like each generation formed spends more money than the previous one. Different products are coming out that better your life, technology is getting more sophisticated, and people are spending money at an all time high. Marketing is so good these days that people spend money they don't even have which makes debt an issue which has been a problem for this whole country. Markets depend on Generation Y because we have proven that we love spending money. Everybody has bought something they think is cool or fun and end up getting sick of it in a week, which goes to show it wasn't such a good investment after all. We need to save our money and spend it on the most important things that we really "need" not "want" because there is a big difference. To answer Kristen's question, I don't really find myself in need of a constant new item or toy. I find that these days I have grown out of that stage and am more responsible with my money. I try to save as much as I can, but life is expensive and when things add up it's not a good feeling because you tend to see your bank account going down and down.
Do you think the next generation will end up spending more money than Generation Y?
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