We needlessly quibble with the younger generation. Caught in our own nostalgia, we discount the positive changes that have happened, and paint a great picture of the good old times. It is not different when it comes topersonal finance. We do not tire telling the nextgeneration that they spend too much and save too little. We may have to view their world from another prism: their personal balance sheets are more complex.
Those who went to work in the 1970s and 80s aspired for secure jobs they could keep until they retired, so they earned a steady income. Given the high inflation and the scarcity economy of those times, it was difficult to save.
