That’s because there’s nothing to save for. People used to save up for a house or vacation. Nowadays the average American spends 60% of their money or more on housing, utilities, and groceries while two generations if not 3 are also drowning in predatory student loans. 25 years ago you could get a big house with a pool in a nice part of Orlando for less than $190,000. Now that house is valued at nearly $500,000. People were buying houses for less than $15,000 2 generations ago and now those houses are going for $500-600,000. People don’t bother trying to save when there’s no meaningful goal within reach.
This is something that really goes overlooked. I work with a lot of people that are in their early 20s, and that old suggestion of "Save until it hurts" is getting bushed expeditiously because the "Until it hurts" part of the equation is hitting early as shyt. If you're paying 60-70% of your income on housing and bills even with at least one roommate, then where is the saving supposed to come in? fukk being able to buy a home, there are young people with good stable jobs that have a long-term dream of being able to afford a one bedroom apartment solo.
shyt, there are even people in my age group (late 30s) that are rethinking their saving strategies because it's becoming increasingly unlikely that retirement is realistic, and you've got to start asking what good putting money away for future you does when current day you needs it to live right now.

