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The Real Crime Diary Blog Property and Financial Crimes Millennials & Gen Z: Young And In Debt. Why? | Talking Point | Full Episode
Property and Financial Crimes

Millennials & Gen Z: Young And In Debt. Why? | Talking Point | Full Episode

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  • July 5, 2024
  • 49 Comments
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  • 3 days ago



With higher life expectancies, rising costs of living, and greater market volatility, the stakes are higher when it comes to the types of financial decisions young working adults have to make in Singapore today. In an Institute of Policy Studies and Talking Point survey, we polled young Singaporeans aged 21 to 29, to find out how they’re grappling with the rising costs of living. Are young adults getting more creative with how they spend their money? What matters to them? And might they be setting themselves up for more debt, compared to previous generations, in the years to come?

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49 Comments

  • Reply
    @NK-so8ep July 5, 2024

    Going into debt because of social pressure is crazy 😂😂😂😂

  • Reply
    @rtothec1234 July 5, 2024

    BNPL lets you over leverage yourself so that a portion of your pay is claimed in the future.

    If you ever lose your job or livelihood then you are fucked.

    Only time I think BNPL is great is for handling emergencies like if your fridge or water heater suddenly broke and you need to replace it fast.

  • Reply
    @qamacito July 5, 2024

    what the hell is that bland nasi ayam

  • Reply
    @my.crafting July 5, 2024

    why are people spending more? for one reason, they have low self-esteem, no real friends and feel lonely and shopping gives them freedom and sends serotonin to the brain….but that's superficial happiness….they have to start liking themselves and then everything will slowly improve ….this is also my experience, accept yourself as you are…..but no one will teach them, no one will open their eyes….why….because they get money, money, money from them

  • Reply
    @haileyworld4302 July 5, 2024

    The problem is not the young generation, it is the fact that the salary in Singapore is LOW!!!! And young generations do not want to just survive, they want to live a life, what is wrong about that? You can't expect young people to live like the old generations, happy with not starving.

  • Reply
    @user-mn2st7rp8j July 5, 2024

    37yrs.old and No debt!

  • Reply
    @Chepecafeteria July 5, 2024

    Cry cry! Do you really want to see struggle with the price of living? Then come to the US.

  • Reply
    @Twisted86 July 5, 2024

    She wastes her money and is surprised she has none…..that mindset is so alien to me I can't understand it.

  • Reply
    @henrygreen-g4b July 5, 2024

    "the things you own will end up owning you" -taylor durden, fight club

  • Reply
    @kjayvinas4370 July 5, 2024

    Earn a lot but also spend a lot.

  • Reply
    @AmiruddinSTUDIO July 5, 2024

    I think buy now pay later can be either good or bad, depends on what you spend it for. Like Rich Dad Poor Dad by Robert Kiyosaki said, theres a good debt and bad debt. A good debt is an asset and bad debt is a liability. For example, if you buy a car with loan with depreciate it values over the years, its a liability. But if you buy a product with buy now pay later, resell that product and get cash, and roll it into a business, its a profit and asset. I believe it depends on a person.

  • Reply
    @shawyonsharifi3394 July 5, 2024

    For starters student debt, lemme tell ya something. Don’t go to college if u can’t afford it, degrees are for those of us who have the money to pay for our college in cash. Secondly, if you can’t afford to pay cash for soemthing right now, there’s a 0% chance you’ll be able to pay it back later.

  • Reply
    @muhammadsaimali1066 July 5, 2024

    4:32 7%??? That's it? In my home country Pakistan it was 27%… And gross income isn't even that much even for corporate workers…

  • Reply
    @eggyfresh-dt July 5, 2024

    For me as a Gen Z, I don't trust all the banking institution and insurances. I don't put my money inside banks unless that amount is something I'm willing to lose. Same goes to Credit Card or anything like BNPL. To me, No money, Don't spent. I do own and have a credit card and a bank, don't get me wrong.

    But, everything that happens, It kept me thinking and pondering. My conclusion, Don't trust any human being to manage your money, life etc even the government. As long as they are humans, they are prone to making wrong decision, giving financial advice while they themselves are in debt, giving life advices etc this are human qualities. Don't take everything RAW!

    To my Millennium Gens, Debt will hurt you in the long run. You may not feel it now. And put you in a position of bad habits.

  • Reply
    @eggyfresh-dt July 5, 2024

    10:07 "Since I don't have the money and I have a lot of time, I just spent a lot of time looking for second hand items." From my understanding and experience as a Gen Z, when you said "You have no money" this means, you can't spent. Why? No money. But she's built different. No money, but spent the time looking for second hand items. $80 it's still money.

  • Reply
    @radityawaliulu July 5, 2024

    among society has own opinion. But, for me honestly I spend to buy crypto. Actually, buy dip and sell high lahhhh

  • Reply
    @jamo3976 July 5, 2024

    I do think this starts as a young adult. My parents were always very clear and emphasized the dangers of unsustainable debt. I never bought more than I could pay off because I was worried about this

  • Reply
    @yongfulu8984 July 5, 2024

    Stupid and poor usually come together

  • Reply
    @MarkGeuel July 5, 2024

    only a few of us millenials live beyond our means. this documentary feels more like an uninformed mockumentary

  • Reply
    @Scarletcroft July 5, 2024

    No no, don't pay money you don't have! Make a budget you are responsible for your own spending. Also think about your future (save/ invest).
    Only a mortgage is an acceptable loan and even then be carefull, because you might end up paying for your house twice.
    I only use Pay later services if I'm not sure if a online shop/seller is trustworthy in delivering. Some creditcards come with delivery insurance

  • Reply
    @jonbikaku6133 July 5, 2024

    Tldr; theyre stupid with 5 second attention spans. They have zero originality, zero self opinions, but still think theyre the baddest mofos around. Im also a genz but I hate the way most of us have taken. No wonder theyre broke, family-less, doing the most menial tasks, and unhappy. Well deserved.

  • Reply
    @Ak-rt7br July 5, 2024

    Just listening to how they spend money makes me feel awkward.

  • Reply
    @pikachu8508 July 5, 2024

    The only time I use BNPL is when I need to make emergency purchases like replacing faulty fridge and washing machine. Things I want like smartphones, PS5 and Nintendo switch however, I would just save up and buy later.

  • Reply
    @thaily6823 July 5, 2024

    Joey has a personal trainer but is still fat

  • Reply
    @zegikniet9999 July 5, 2024

    nutrient deficiancies and lack of education.

  • Reply
    @zonanyt July 5, 2024

    It just the cost of living in Singapore is crazy

  • Reply
    @rickylow1655 July 5, 2024

    Why would you need jacket in Singapore?

  • Reply
    @sahidulislamvet-et9nx July 5, 2024

    Good content👍🏼

  • Reply
    @taran5747 July 5, 2024

    I am from India, the most surprising thing is that the girl they showed spent 1000$ on groceries for a family of 5.
    Its 83000₹, If you are from India you know how crazy it is 💀

  • Reply
    @flamezodiac5736 July 5, 2024

    The worse mistake I made is getting credit cards its a scam as soon as i got a job i went nuts then i lost my job and i knew that i am literally fucked.

  • Reply
    @HealthElites July 5, 2024

    Targeted Marketing + high inflation

  • Reply
    @sodapop6447 July 5, 2024

    I’m GenZ and I grew up watching my parents incur debt upon debt each year. So ever since I got my first job, and became the family breadwinner, I made it a point to keep track of my finances and be strict about where the money goes. I promised myself that I’ll never get into debt or avail any kind of credit so as not to repeat my parents’ mistakes. But recently, I had to take out a loan for a necessary purchase, and it’s been killing me inside. I can’t shake off the anxiety despite having my finances planned out for the entire time I have to pay for the loan. It has gotten to a point where, whenever I feel sick and feel the need to take a day off work to rest, I would look at my personal finance spreadsheet to see if I could do it since I don’t have leaves yet.

    I don’t know how my peers could brave through this. I have friends of my own who enjoy using BNPL from different shopping platforms and are currently in debt. Which I couldn’t blame them for because, as pointed out, it’s really very tempting. But still, it puzzles me how it doesn’t seem to bother them as much. Only until they need to make another big purchase will I hear them speak about it.

    Capitalism will end us all is2g

  • Reply
    @hypebeastreet6308 July 5, 2024

    Don’t use credit card or pay later to shop products and services.
    It’s better use direct debit so you don’t overspend

  • Reply
    @PedroSabido122 July 5, 2024

    Debt is a cancer. If you don’t know how to manage it just stick to your income and wait to save and buy…

    What’s the hurry? 😅

  • Reply
    @nerdlingpodcast5639 July 5, 2024

    Try living frugal.

  • Reply
    @41yearoldnewdriver July 5, 2024

    Y'all in debt and I'm trying to be more frugal. Wow!

  • Reply
    @kingmusa44 July 5, 2024

    In a capitalist society there's no limit to the tricks corporations will use to weasel every penny they can from consumers. And there are so many levels to that statement I don't have the space to explain.

  • Reply
    @azmi2976 July 5, 2024

    we wait and see enough time we laugh at them

  • Reply
    @wei586 July 5, 2024

    It's not the banks or lender's job to care about another person's finances, so if a person just goes into massive debt it's the fault of the borrower for lacking self control

  • Reply
    @Me97202 July 5, 2024

    I’m 68 years old. I’ve never had any credit card debt in my entire life. I believe that’s why I was able to retire early.

  • Reply
    @yan4348 July 5, 2024

    I'm a Gen Z but never had this problem. I have moved out when I was 18. 🥱

  • Reply
    @jreinel1966 July 5, 2024

    Buy now,cry later..!

  • Reply
    @eraera2325 July 5, 2024

    Things that use to be a nickel are not 5.00

  • Reply
    @withyoctopus July 5, 2024

    the avocado toast view on young people: let's ignore housing, education and food costs and pretend they buy to many Gucci bags and make up

  • Reply
    @oooollllmmmm0987 July 5, 2024

    I am millennial. l saw my parents abuse credit cards ad get into serious financial problems. Because of that the only dept I ever have is mortgage. And here is another thing. I cherish my freedom so I moved to the area where houses are still considerably cheap, and I can pay it fast. I would never use “pay later”, credit card, etc to cover my going outs, hobbies or clothes – that’s simply stupid and recipe for disaster.

  • Reply
    @shone_3 July 5, 2024

    let's face it, the world is down the drain but life's good

  • Reply
    @SimoneShaw-fy2zm July 5, 2024

    You never know if someone paying with money they have, they stole, whether they pay tax or getting into debt.

  • Reply
    @oma_gooner July 5, 2024

    Millenials have so much more info, access, and advice than any other generation, hard to feel pity, its their own fault most of the times but the worlds gone very greedy as well.

  • Reply
    @Fabian-jw5ih July 5, 2024

    I'd have a hard time giving someone a credit who is obviously not having his spending under control. Taking credit on consumption ist the most stupid thing on earth, since a "higher status" is not an investment, except maybe for escort 😀 These services WILL worsen your credit history!!

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