A while ago I was reading about the generation X (born before & after the great recession), millenials (born 1987-1997) and generation Y (the children of millenials) in the US.
There was a noticeable variation in the lifestyle of all three generations as they were shaped and influenced by different dynamics.
Generation X was shaped by the economic collapse at there time and so didn’t have the financial muscle to spend as they wished.
The millenials were born after the 2nd world war and so didn’t participate in the war. They are the largest workforce at present.
Generation Y came after the millenials.
Using the western world categorisation of there generations using a key historically significant events, our generation here in Uganda is sqaurely millenial. And fortunately or unfortunately were the majority.
With a background of the wars in Uganda, there has been limited parenting from our parents who r busy at work because their parents didn’t hv the best of envirnments and were unable to send them to school or even build enough wealth.
This is when one is generally speaking. There are, of course, a few exceptions to this.
The country lost out valueable time that subsequently resulted in a drop in the aggregate wealth of the populations.
Our generation therefore doesn’t have a firm footing to lauch from and is thus unable to start early families proper as we would have loved to.
We have to build a wealth base for ourselves and the many dependant around us that will enable us make up for our parents’ ‘lost generation’ while at the same time propelling ourselves forward.
We aren’t yet out of the woods.
It will take a completely different view on life, and not just copying whatever we see in the movies, and onto the right track of financial stability as well as the good life that we rightfully so desire.
This is the predicament we find or selves in. None of it is really our own making but we, nonetheless, have take responsibility for it.