(Curse you avocado. The downfall of millennials everywhere.)
So a while ago I read an article about a millionaire who had said that the reason that millennials were struggling to buy houses was because they insisted on going to brunch every weekend to eat their ‘smashed avocado on toast.’
‘Rubbish’, I thought, as I had another bite of my mashed (which is totally different to ‘smashed’) avocado on Waitrose olive bread.
No seriously – that’s actually what I was eating.
There were a number of things about this statement which irritated me. Firstly the assumption that the reason this generation is struggling to buy houses is not because the housing market has rocketed to such insane levels that wages simply can’t keep up with. Nor perhaps that previous generations had significantly less tuition costs than this generation, whilst at the same time facing an increasing expectation from employers that you will have a degree. No, clearly it’s because the millennial generation are feckless spenders who like to waste their money enjoying life instead of socking away all their pennies under the mattress. THAT’S the problem.
‘Grrr,’ I thought. As did many others.
Now apparently I am a millennial. I don’t really know what that means, but I’m reliably informed that I am one. And this millennial decided many moons ago that she would like a house. So my partner and I made that our goal. We had no idea if or when we would reach it. But we worked really really f-ing hard, and saved everything, and sacrificed a ton of things with that goal in mind.
We definitely had some luck and help along the way (although I do believe you make your own luck to an extent) and we did eventually manage to buy our first house, in the South-East of England, when we were both still on tiny wages (him an apprentice and me in training for my current role). We were in our mid-twenties. This was way sooner than we’d ever dreamed of.
So now skip forward to a point several months after that article was published. I’d now decided to tackle our ever growing pile of house renovation debt, in an attempt to meet our new goal of debt-freeness. And you can imagine my irritation when I finally added up the cost of all those avocado breakfasts and realised that maybe – maybe – that bloody millionaire had actually had a point after all! Goddammit!
Turns out that the little things really do add up. While the amounts in question may seem so small as to be insignificant, actually it is those little costs, those treats, the ‘one-offs-which-are-actually-pretty-regular’ costs, that eat up all your spare cash. And that is extra cash that you could be adding to your savings or paying towards your debt.
So if you are truly committed to your financial goal, then yes – I’m afraid for now those lovely things may have to go. Sacrifice. It’s a necessary part of success.
So here we are. I still think that the ‘avocado issue’ trivialises the real uphill struggle faced by this generation in affording what the previous generation have managed fairly easily. But now at least I am saying that while eating my daily bowl of shreddies instead of avocado on toast. That is sacrifice, my friends.
Having said that – oh avocado, how I miss you! Shreddies are just not the same… Fear not, we will meet again. Just as soon as this millennial has cleared her debt.