Teepot - no more. Those benefits are gone from the military. Don't take my word for it, see for yourself.
I did 21 in the Navy and retired as a CPO - went from Senior Tech to Engineer in civilian-land. Even though I work with other engineers much wealther than I (they had a 21 year head-start while us military were guarding them) I was among the most unsympathetic for the post-m generation until I did the math. Opinions and statistics can lie - numbers in addition and subtraction don't.
Here is the math.
Joe Schmoe graduates college with 30,000 dollars student loan debt (Indiana average)
He gets a job at 65K a year (average)
Taxes on that are app. 14K.
Average Indiana apartment rent is currently 1100-1200 a month. Yikes.
He purchases an inexpensive high MPG compact car at 17K (Hyundai Accent). 400.00 a month for a 4 year loan.
Why a new car? A reliable vehicle is a requirement because of our generation's attendance expectations.
65K
-14K
______
51K
-14.4K annual rent (1200 x 12)
______
36.6K
- 4.8K annual car payments (400 x 12)
______
31.8K
- 4.8K annual student loan payments (400 x 12)
______
27K
- 6K annual medical insurance (500 x 12)
______
21K
-0.3K annual renters insurance (25 x 12)
______
20.7K
-3.6K annual car insurance (he's under 25) - (300 x 12) 400 a month is average, he's a good driver.
_____
17.1K
- 3.6K annual food costs (300 x 12)
_____
13.5K
-3.0K Incidentals (250 x 12) (tires, vehicle repairs, clothing, emergencies, etc.)
_____
10.5K
-3K Possible annual Savings (500.00 a month each)
_____
7.5K
-3K Possible annual 401(k) contribution (250 x 12) note 7.5 years to make a 22.5K standard contribution
_____
4.5K
No hope of a home purchase or "fun stuff" here. This explains why young singles skip health insurance, 401(k) contributions, and savings, doesn't it? It also explains the disaffection and why the younger generation is forming platonic/economic relationships. Two people sharing expenses goes further. Should they have to?
I was doubtful and just thought it was not caring. This is "primed to fail." If you do a blue collar "apprentice-journeyperson" budget, that is an economic revolution in the making, not disaffection. And who will do the blue-collar work if they have to sleep in a car, are hungry, and have to live 2 hours away?
It may also explain the reduction in hobbies - no spare $$ for it.
It isn't cheerful so I won't say cheers.
Robert