Maxed Out

This story both saddened and disgusted me. I can't believe these kids worried about their pants, shoes and drugs. The parents struggling with so much debt but still putting their young kids in private school and driving a gas guzzler are equally disgusting.

Neither of my parents graduated high school and I'm a recent college graduate struggling to find a job. I too was taught that if I just went to school everything would be ok, but I can't afford any of the things these people were whining about. I would just be happy to be above the poverty level at this point.

i liked this a lot, especially being a young person who'll be paying for my own things soon.

this opened my eyes to the reasons i don't want credit and to start saving NOW! i know my parents won't be helping me much longer so this taught me something.

sigh... just moved home myself after being rejected from job after job..

I know it might be hard to believe but your parents did have a life before their kids arrived and they have other things to do with their money besides support their kids...unfortunately, their kids might have to think about doing something for work you might not totally care for...just a thought...

Related, on Current:
A Credit Cardholders' Bill of Rights - Act Now
http://current.com/items/90046007_a-credit-cardholders-bill-of-rights.htm

I have my Associates in Communications...I'm going to another school...Brooklyn College and now CUNY wants to raise the Tuittion to 600 dollars more...plus MTA NYC wants to raise the freaking fares to 2.50 on a subway and bus...I'm always planning my expenses for everything that i do (which is difficult enough and why i am still stressed.)

I'm still deciding on what to do...Im going have to go to rutgers...I just got my job back...i had to survive from my last 3 paychecks to pay my tuittion and travel + food + Books. My dad didn't want me to live with him and he didn't want to help me out after i payed all of the tuittion...for now i do have other options but...im going to ride out the last days of my semester and see what can i do to stay in brooklyn college. I also take care of my brother...im gambling more on time and money.

I never have / given / wanted a credit card. My hours are now going to be cut so now. since i applied for jobs in manhattan...im still waiting for a response...

so how can i shorthen this...

Me + living in the Phila/NJ area + Brooklyn college CUNY + family problems + money and credit problems + will have to pay rent again to mom + bills + a job that makes fucked up excuses to cut hours = im pretty much riding a storm that will never end...

I am lucky enough to have opitions...i'm not bragging about it and im not saying that i have it worse than anyone else...I'm just telling my story here...

i think they should of looked at other college students instead of the statistics...the frat guy pisses me off because he buys drugs with his parents money and he doesn't realize what he is doing.

I am also glad and proud to say that i have graduated from a community college before i went to a 4 year school.

To this day...i am surviving on my income tax check. I am hoping that i can get myself back on track. since this job on the military base only pays on the first and 15th of every month.

Crap Pod

Not worthy of Vanguard!
It could have been allot better.
Who every produced this pod really are clueless.
I don't believe these people were typical. I was able to understand some of the people but most of them were just stupid. Two very ignorant lawyers not able to get by. How come it cost that much and took so long to get there degree? Now they have kids!!!

***does anyone know the name of the song that begins during the end of the episode at 22:16?? It does say a name in the credits, but that is the wrong band! please help me out!!

THis is the first one i've seen in a while. That part when the smoker tracked how much he spent was an interesting way to look at things.
My sister's husband needs to track his beer tab.

That's your parents, not you--and
$10,000 (believe it or not) on your credit cards isn't that much money. Since the cost of living in Texas is pretty low, they should be able to pay that off fairly easily with 2 incomes, even if they make minimum wage.

I'm not saying the economy isn't bad (I live in a top 5 state for uenmployment and have been out of work for a year). I'm saying all the people in this video were in situations that had nothing to do with the current economy. Almost everyone's broke just out of school, college is expensive and doesn't guarantee anything, and life itself will be expensive.

My point is that this is nothing new, and I was blown away by how entitled everyone sounded. Oh and the lawyers should be well aware that their situation has been a lot longer in the making.

It is true my parents told me recently that they maxed out there cards to the point where they owned over 10,000 it was then that we moved to Texas where they hoped to start over and pay everything back. Now it seemed like things are just getting worst, and the future doesn't look to bright any more......

This episode really touched me. Especially Katie's story, I am currently going to school for theatre administration at a private institiution, and I hope to do exactly what she is doing.

Because I am financing my own education I will graduate next year with nearly $100,000 in student loans, and yes I know that was my choice.

Like every 20-something that graduates from college I expect to slowly make my way up the totem pole. I fully expect those first few years to be rough, but I struggle to come to terms with the fact I may not make enough to support myself, pay back my loans, and build my credit.

I know I have my whole life to live, but I'm still living now.

Hate to break it ot you, but NONE of this is anything even remotely true. Life was like this for recent college grads when I was that age (almost 25 years ago), my mom was that age and even HER mom was that age.

When you're just starting out, you aren't paid all that well, higher education is expensive, many younger people live with Mommy and Daddy or are subsidized by them, and you might have to choose between well paying or fufilling. None of this is remotely new.

As to the individuals, the only one I felt for remotely was the 20 year old girl whose hours had been cut at Best Buy, but she still has her entire life ahead of her to change. As for her mother vetoing attending the Art Institute, that's an overpriced, crappy for profit school that would've bascially prepared her to work at Best Buy. She really IS better off going to community college.

As for the attorneys, I sympathize over their studen loans (though apparently in deferment), but agree, they're a walking advertisement for birth control AND credit counseling. I'm hardly the most financially responsible person, but THREE children in short order, all in private school??? That's somewhere between $15,000 and $60,000 per year they're wasting completely.

Private school is a luxury few can even consider, not a right and they wouldn't have to wear clothes that fall apart if their kids were in public school. I also noticed she drove a large, fairly late model SUV--as she complained about what she spends in gas. While (for the moment) she might be stuck with the car---she should ultimately sell it, buy something used, cheap and fuel efficent. And it would be cheaper (lots) to rent an apartment than a house--plus they could rent in a good school district.

There! Now they can buy big screen TV's, too!

Good episode. I'm a few years out of college, at the leading edge of gen Y or Millenials or whatever we're being called this week. For the last few years I've been really strugling to get on my feet, but just recently was promoted to full time at my job with an increase of about $13,000/year plus benefits. The stress over the last year leading up to my promotion was unbelievable and I was living on Top-Ramen, paycheck to paycheck. I would advise anyone who is young and considering going to college to do so, even if it means massive debt , you'll never have another experience like it. Also, don't choose your studies based on what you think will be profitable. Study what interests you. Employers want some degree, but it really doesn't seem to matter which.

Very provocative and timely!

I was annoyed with the Kyle (clothing king) and Jake (frat-tastic) when I was watching this. A majority of the kids I knew getting out of college were much more intelligent/realistic about their spending than they are.

Still, so many of my friends 22-25 are in this post-college purgatory. Without enough money to live a similar life without mom and dad's help, they just never cut the cord...

haha wow
this helps me realize how lucky i am
to not be this average person in debt
and live with money left over each month

I campaigned against Bush when he was still in Texas and had not yet spread his mismanagement out of the State of Texas. Here is the guy who could barly make a C average and had to buy term papers as not to Flunk out. Someone who could not manage his allowance let alone the national debt. God how stupid it was to just Vote for him. I just want to know ? What hair-brained burned out Coke snuffer came up with the Idea that George Bush / Junior Georgieboy would make a as President ? Isn't it Great all of that Beer money can do so many good deeds and Also payoff the Supreme Court, Ops isn't that who gave gave him the Throne to Washington he had a Crown made and made sure he was the first Queen of America., I was one of the Florida voter that got it right and voted against him after the 2nd time I gave up and moved to Arizona and what do you know, another Twit there was ready for the job, Johnny which button is the Para shoot, crack pot, goofy goober. Who’s pill pooping hoochie moma, swaps spit in public eateries around Phoenix and then preaches about how high there morals are above ours. What really gets me is after the first 4 yrs How dam stupid R people they voted him in again, Well Those people got there just rewards. Now he and his Cronies have taken the whole of this Country down the tubes with them, Just step right up your NEXT at the Unemployment line. God help us because we are all dangling at the end of the greased up rope. Guess who’s to blame for this mess. U R ! Ya see I have mine, not a whole lot but some. I was smart enough to Sell out everything, house the whole Nut (lol ) Pun That when George got the job, I Picked up packed and went Motor Coaching and the Roads my Home and KOA my Shower Stop. Living under the radar and making it and when the gas prices are high I just hang my hose out And grill hot dogs. I have had to change this laundry list of complaints many times and
keep adding to the madness, so just keep reading, this is the closest est, I will ever come to finishing that Dam Book I'm writing lmao always.
Happy New Year

great pod!
A similar generation there is also in Italy.
A politic man called all the young person that doesn't exit to the parten house: "BAMBOCCIONI"
we are the generation that is looking for an helps...from parents!

A very well made mega-pod.
It's weird how, time and time again, the children of privilege come across as full blown asswipes. The guy who admits that his folks pay for his drug habit is a great example. It doesn't seem to phase him at all.
The opening reminded me that when it comes to percentages of what folks claim in a survey, I find it best to add about 7% to every one of them for honesty's sake.
Quite the story. So many people unsure about their future when going to college is supposed to secure it.
All students and parents should see this.

I'm a sociology Major who is working 10 hours a week and Ross Dress for less...... Thanks for making me worry.. THAT MUCH more... ugh.. But on the real great piece of journalism!

This really hit home... great pod! Right now I'm a student living on my own, paying for everything and desperately looking for a job... It has not been easy and I have definetely spent quite a few sleepless nights worrying about how I'm going to pay rent or the other expenses. It's tough...

I fully agree with our generation being more interested in being happy and fulfilled in our jobs rather than making money. It's something I've never consciously thought about but see it in everyone around me.

Right on. Really. This is what my generation needs to be watching.

Another amazing story that no one else discusses! this one's a really poignant look at our generation's woes. I think this one hits many people today, Loved it!

well my girlfriend is moveing back to newyork.shes gona go to NYU.en she whants me to move in with her to pay the bills i quess.it wont be easy but any advise

Major kudos. You guys did a great job profiling what it's like to be young and trying to "make it" in these crazy economic times. Thanks for taking the time to do this story...it IS the story of our generation and one that deserves the attention that you guys gave to it.

Great pod and some of these stories espouse why I do not believe in credit cards. However, I will admit that I believe that Susan and Daryl are 'poster children' for planned parenthood. No money, three children and each one in private school seems a little foolish. Sure kids are great and you want them to have the best education. However, it would seem to me that a reasonable person would pull them out for a year or so, just so that you can save that money and get back on your feet.

But, that is just my personal opinion.

This is an AMAZING STORY! And its importance plays bigger more and more everyday.

Great job, Tracey and Sean!

It was a real eye opener for me.