According to the Wall Street Journal, new data show millennials are in “worse financial shape than every preceding living generation.” The most common response to this new reality is that millennials have been spoiled, and that is unquestionably true. Not only did their parents raise them in a much softer manner than parents of previous generations did, but millennials also grew up amid a technological revolution where everything became available the moment they wanted it. The concept of delayed gratification, or of looking at life in the longterm, is foreign to them. They never had to live that way.

Millennials have also been taught that getting degree upon degree is more valuable than going to work. Yet all that time they spent at school has, in the end, cost them.