[RaviK]

Originally Posted by salilpawar1

..PS: I still use a Rs.11k phone even today.

The way you've summed it up, by using 'still' and '11k' in the same sentence, explains the pressures present for millennials or later generations (the pressure to maintain standards, to stay abreast with latest technologies, bragging exposures etc. etc.). Somehow, the younger lot is quite susceptible to these pressures, and succumbs quite early.
Folks from earlier generations are quite resistant to the lure of instant gratification (after 15 years of work experience, I drive a humble swift, while many folks with <5 years exp drive Citys/Vernas and the likes )

[CliffHanger]

Today's youngsters have their priorities right and are more realist, for them success = doing what they love and being happy, they don't care what others think or whether what they do will make them popular. Unlike earlier generations, where most used to spend their whole life doing what they don't love to buy house and cars for the sake of coming across as successful in front of their families, friends, etc.

[Jeroen]

Originally Posted by RaviK

The way you've summed it up, by using 'still' and '11k' in the same sentence, explains the pressures present for millennials or later generations (the pressure to maintain standards, to stay abreast with latest technologies, bragging exposures etc. etc.). Somehow, the younger lot is quite susceptible to these pressures, and succumbs quite early.
Folks from earlier generations are quite resistant to the lure of instant gratification (after 15 years of work experience, I drive a humble swift, while many folks with <5 years exp drive Citys/Vernas and the likes )

Originally Posted by CliffHanger

Today's youngsters have their priorities right and are more realist, for them success = doing what they love and being happy, they don't care what others think or whether what they do will make them popular. Unlike earlier generations, where most used to spend their whole life doing what they don't love to buy house and cars for the sake of coming across as successful in front of their families, friends, etc.

Maybe not intentional, but both posts seems to have an air of superiority. E.g. our way is/was better. Again, maybe not intentional but that is how I read it.

It is not about right or wrong. Different generations have different values, different priorities and subsequently behave differently. I would not pass judgement on that in terms of what is the better.

Jeroen

[RaviK]

Originally Posted by Jeroen

Maybe not intentional, but both posts seems to have an air of superiority. E.g. our way is/was better...Jeroen

No, definitely no superiority complex here (sorry if it came out that way). It was only an observation, no judgement at all (at 40, I am not yet old enough to brag about 'our times' ).

In fact, the newer generations have more risk taking capabilities and are quite confident when it comes to taking bold steps. The above characteristics also reflect into their buying habits, e.g. they're more willing to take a bold step and buy a 15 lakh car, even if it means earning a debt which may prove costly in the longer run.
The older lot would mostly look at medium/long term goals and would see how a new purchase fits into that.

Like many other things in life, its not a binary situation, no 1s or 0s to be argued about. We're just discussing the prevalent buying patterns here, nothing more, nothing less.

[gupta_chd]

Originally Posted by Jeroen

Maybe not intentional, but both posts seems to have an air of superiority. E.g. our way is/was better. Again, maybe not intentional but that is how I read it.


Jeroen

Sorry for OT but I guess you understood the second post by cliffhanger wrong. The post is about the practicality of younger generation compared to previous one.

[Jeroen]

Originally Posted by gupta_chd

Sorrt for OT but I guess you understood the second post by cliffhanger wrong. The post is about the practicality of younger generation compared to previous one.

Well, let us see what he says. It states they have their priorities right, which suggest the previous generation had got it wrong.

Also, it states they are realist, suggesting previous generations were not.

Those are BIG statements!!!

Jeroen

[landcruiser123]

Originally Posted by Jeroen

Well, let us see what he says. It states they have their priorities right, which suggest the previous generation had got it wrong.

Also, it states they are realist, suggesting previous generations were not.

Those are BIG statements!!!

Jeroen

I hope he meant that millennials have understood their priorities and are looking for instant gratification.

While I can't comment on priorities, I can for sure say that short-term gains should not be chased- long term goals should be. I say that being less than quarter of a century old.

[Jeroen]

Originally Posted by landcruiser123

I hope he meant that millennials have understood their priorities and are looking for instant gratification.

While I can't comment on priorities, I can for sure say that short-term gains should not be chased- long term goals should be. I say that being less than quarter of a century old.

That is fine fine for you. Again, an opinion, or a believe of what is relevant, is no more than that. An individual opinion. Whether it is true or not is in the eye of the beholder. There is simply no absolute truth in these sort of statements. Just op opinions, preferences .

Jeroen

[dark.knight]

I think the line from Mad Men where Don Draper says "What is happiness? Its the moment before you need more happiness." pretty much explains it all. Brilliant line and describes the basic human need/greed. I've always put life as an excuse where one either says "I've not done enough" or "I need to do more".

Life has always been this way, whether it was yesterday or 4 decades ago. In the earlier times (pre-2000's) one didn't have avenues to expand their life, thus the only way one could ape the society in general was to buy a home, and then a car, by that point they'd be pretty much called a settled being.. the only step ahead was to get their children married off so that they could do the same.

Today thanks to (or rather, cursed by) the internet, one feels the need to expand into larger social circles, curate their life just the way they feel the need to and give less focus on grounding possessions like cars and homes largely because the previous generation has done the ground-work for them. These types (irrespective of particular age-groups) consider life as a canvas, as art and experience and focus on the now rather than tomorrow. Phones costing 3 months salary, vacations, high-end dining aren't new to certain people I know.. but they get the kicks out of it and I'm no one to comment.

Each individual looks at life differently, in that respect terms like baby-boomers or millennials are best done away with as they very disrespectfully, put a vast majority of unique decision-takers into a single fold. Life shall always be the sum total of your early experiences and that will define the path you take later on. Basic needs > Social needs > Superfluous needs shall always be the pre-programmed descending order of a man's life.

[am1m]

Have to head out on a day trip about 100km away from Bangalore and back tomorrow. Will be going with 3 other guys, millenials in their late 20s.

Forget owning a car, am forced to drive because I'm the only one in the group with a driving license! So I guess driving is certainly becoming less of a priority for the next generation. Smart guys!

[sgiitk]

Sensible. Cash is low. BS6 imminent. And EV round the corner. Also, what are the regulations for EVs. Is the BS-IV VI all gone. (Logically it should go)? How fast are we getting the rollout of charging points?

[fazayal]

The only logical reason for owning a car nowadays is that you could need it someday in an emergency while cabs are not available.

Other than that using OLA/Uber or public transport makes much more economic sense as well as ease every way one looks at it.

[good.car-ma]

Originally Posted by fazayal

The only logical reason for owning a car nowadays is that you could need it someday in an emergency while cabs are not available.

Other than that using OLA/Uber or public transport makes much more economic sense as well as ease every way one looks at it.

I disagree actually. While they have provided a great option, nothing can match the convenience of having your own car. And not even touching on the topic of the pleasure of driving.

However, I do have to say most millennials seem to take the same view as you. Is there a revolution coming in the transport sector in the next 20-30 years?

[fazayal]

Originally Posted by good.car-ma

I disagree actually. While they have provided a great option, nothing can match the convenience of having your own car. And not even touching on the topic of the pleasure of driving.

However, I do have to say most millennials seem to take the same view as you. Is there a revolution coming in the transport sector in the next 20-30 years?

As I had said "logical" reason. Pleasure of driving can also be availed through self drive cars. One can drive multiple cars as well.

I own a car myself but due to huge traffic and long commute to work, I use public transport and my car doesn't even run 3000 kms per year now. There was a time I used to do 25,000 km in a year, wasting so much of my time and fuel on the car.

Same can be said about buying a house. The only logical reason to buy a house is that you and your family get a permanent base to stay and don't worry about shifting every year or two. Financially it makes much more sense to rent a house, especially for last 7-8 years or so when real estate prices have stagnated.

[AlphaKilo]

Let me put out the reason for my needs of having a "car":

- my nature of work demands me being at my workplace at any point of time of the day (that too within an hour after being woken up from deep sleep!).

- particularly interesting if one is residing outside the city where the perks of car sharing or public transport is not that abundant or is time restricted.

The same may hold true for emergency duty doctors and rescue personnel who have to be on standby. As long as such professions exist, I am sure there will be people buying cars, irrespective of which generation they are from.

Some opinions against the ownership of cars:

- The newer/current trend/possibility to work remotely has also decreased the need for daily commute. This brings in the thought, "when I have to travel to work only 3 out of 5 days, I can afford to spend some hours commuting."

- Skewed interest towards starring at their 6inch LED/LCD screens than at nature or doing manual labour (shifting gears or staying focussed on the roads) has pushed the people towards taking the public transport.

- possibility and availability of home-delivery options for anything and everything, reduces the need for travelling to shop!

- with increased dependence on autonomous driving/driver aids, the fun of driving is taking a back-seat thereby making people lose interest in driving and thereby in owning a car (in the long term).

- increased awarness towards nature/global warming. I prefer to cycle to work almost every other day (when the weather permits), given the fact that necessary infrastructure is already in place (which is the case in most of the european countries).

Houses:

For:

- For those who still prefer a calmer, quieter place outside the city limits, buying a house works out cheaper in the long run, if one can calculate his/her finances properly.

- Not having to think about paying dues (rent, loans or EMIs) is a big relief and lot more of one's earning remains for oneself and/or for their families.

Against:

- The need for a own house has changed a lot due to the increased interest of people trying to live within a stone's throw from their work place and close to the center of a city.

- In the above case, forget buying even renting places is way too high and this forces the generation to completely forget about even trying to own or save up to it.

- A lot of the youngsters are moved/relocated from their home bases/cities where they grew up and do not find their calling with the new place. Hence, they don't feel the need to "settle" down in the new place.

IMHO, the idea of saving up for the rainy days or not considering certain things that our previous generation considered as a must/achievement has led to lesser spending from the Gen Y.

At the end of the day, inspite of poor maintenance and huge scope of improvement, I am still happy about the fact that in India we are still positively skewed towards public transport and have not taken up the American way of life.