Jim Cramer Rages Against Young Americans Having Fun With Friends
June 24, 2022
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12:49Now PlayingJim Cramer Rages Against Young Americans Having Fun With Friends
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as posted by the channelCNBC host Jim Cramer ranted and raged against young Americans struggling with financial hardships and financial literacy, saying that Gen Zers should spend less money on margaritas and their social lives, preferring that they focus on living a more frugal lifestyle to combat financial woes. Ana Kasparian and John Iadarola discuss on The Young Turks. Watch LIVE weekdays 68 pm ET.
Read more HERE:
"Jim Cramer, host of CNBC’s “Mad Money” and Investing Club, thinks that while Gen Z faces financial challenges, many of its members also spend too much money on stuff they don’t need.
Nearly half of adults belonging to Generation Z — who are currently ages 18 to 24 — say they live paycheck to paycheck, according to a recent Deloitte survey.
But Cramer thinks young adults can do a better job investing some of their money, even if it’s just a few dollars.
“They seem like they have a lot of money, even when they don’t have a lot of money,” says Cramer. He has noticed that while young workers don’t usually have a lot of earning power, they still spend a significant portion of what they earn on discretionary purchases.
“Younger people have to learn to be more frugal,” he tells CNBC Make It.
In one example, Cramer says the younger customers at the New York restaurant he owns spend money “as if it grew on a tree.” He’s seen countless young professionals buying round after round of $14 margaritas after a workday, despite hearing their complaints about student loans, or not having enough money to put aside for retirement."
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