What it is: Young South Koreans are part of what’s called the “N-Po Generation” (N-give-up generation), where they’re giving up on traditional milestones like marriage, houses, and kids because they’re financially unattainable.
But there’s also a counter-movement: “YOLO economy” and “small luxuries.”
How it works:
- Save aggressively on big things (no car, small apartment, minimal possessions)
- Spend freely on small pleasures (nice coffee, good food, experiences)
- Focus on present happiness rather than delayed gratification that might never come
The philosophy: If major financial milestones (house, kids) are unrealistic anyway, at least enjoy life now.
What we can learn: This is honestly controversial, but there’s something here. If you’re doing everything “right” and still can’t afford a house, maybe it’s okay to spend on things that make you happy NOW instead of sacrificing everything for a future that might not materialize.
The balance: I think the lesson is: be realistic about what’s a