Millennials came of age with the flourishing resale markets on Craigslist and eBay. They’re accustomed to what’s been called the “disposable culture,” in which goods are commonly discarded even though they’ve barely been used. Right now, they’re also fairly likely to be broke due to some combination of unemployment, underemployment, and/or student debt. All of which helps make the clothing swap concept a big hit with Gen Y.
How’s this for a justification to spend absolutely no money on toys this holiday season? In a Psychology Today post, Gabrielle Principe, a psychology professor and author, gives her suggestions for the “Five Best Toys for Christmas.” So what’s on her list? Sock. Mud. Ball. Pebbles. Backdoor.
There are also money lessons to be learned in this roundup from millionaires who hate fees as much (or more) than you and I, high-profile pawn shop owners who are wise enough to walk away rather than lose money on deals, and parents who rarely if ever splurge on purchases for their kids.
This week’s link roundup also includes simple rules of thumb for buying everything from coffee to a home, and insights as to why personal finance can be as tricky—and messy—as potty training.
