Millennials often get a lot of slack from baby boomers because we’re too busy “buying avocados” instead of diamonds, houses, and other things that apparently stabilize the economy. Clearly, baby boomers have never had a good avocado toast.
In all seriousness, the best place for millennials to live might not be anywhere near the U.S. In the United States, there is over $1.2 trillion owed in student loan debt and millennials are the vast majority who owe money. 64% of millennials in the U.S. owe $10,000 or much more in loan debt.
But in Norway, that is not the case! In fact, millennials in Norway are apparently rich. At least, according to a recent report on generational incomes for the UK Think Tank The Resolution Foundation.
Norwegian millennials already have a bit of an advantage, as public universities in Norway do not charge tuition fees. Unlike in the U.S. where the average tuition per year is $34,740 at private colleges, $9,970 at public colleges for in-state students, and $25,620 for out-of-state students at public colleges.
In Norway, the average early thirty-something has over $50,000 in disposable income – meaning, they have an extra $50k to spend after they’ve already paid their bills. This is a 13% increase when compared to Generation X. Compared to other countries, this is a big deal, as the U.S. experienced a 3% dip and Germany experienced a 9% dip.
Norway has a fairly low economy rate at just 9.4%. Don’t think about shipping off to Norway, as it is hard to actually get a work visa in Norway, because of these great working conditions. The average rent in Norway is roughly $1,162.27 a month.
When interviewed by BBC about living as a millennial in Norway, Aleksander Aarnes, a 25-year-old graduate said:
“I don’t really think about how I spend my money. I go to the theatre about once a month, go to the cinema once a month. I can go out and eat and drink with friends… I go on vacation (holiday).”
Would you ever consider moving to Norway?