Most people should learn to live below their means. I see people that make as much as I do having multiple children, buying giant houses in really nice areas, and I can’t help but wonder what would happen if they lost their jobs with 0 notice. It probably would be catastrophic, but that risk is a choice. Conversely, I live like I make half as much as I do. Max out my retirement contributions every year, rent a much smaller apartment, etc. Maintenance is taken care of for me; I have a small amount of nice things; and if I lost my job I have months or years to find a new one before things would really get dire. Don’t get me wrong I’m planning to move in somewhere nicer and have kids soon too, but extended periods of living below your means allows one to save enough money to increase what their means can provide at the same income level. It also allows you to make migrations without the stress of what happens during the overlap in employment, living situation, insurance, etc. Wash, rinse, repeat. E.G, I fixed up a junkyard car by hand in high school and drove it for a decade so I could afford to buy a new car in cash instead of a lease or a payment with interest. Not having interest applied on top of the purchase made it a lot cheaper for me in the long run than the same vehicle would have been for others that stretched to purchase it. I’m not saying it doesn’t suck a little to see other people with things that I want, but I prefer the safety net I’ve built for myself. I think most people could benefit from a shift in perspective about what they can actually afford, and how they should choose to live their lives.
Most people should learn to live below their means
I’m not saying I’ve never seen someone get something and wonder how they can afford it, it certainly happens plenty. But wages are not increasing like the prices of housing, student loans, groceries, going to the doctor, having a child, and all kinds of things an employed person should be able to take for granted. “Just live below your means” is not very realistic when the means aren’t keeping up.
Most people should learn to live below their means. I see people that make as much as I do having multiple children, buying giant houses in really nice areas, and I can’t help but wonder what would happen if they lost their jobs with 0 notice. It probably would be catastrophic, but that risk is a choice. Conversely, I live like I make half as much as I do. Max out my retirement contributions every year, rent a much smaller apartment, etc. Maintenance is taken care of for me; I have a small amount of nice things; and if I lost my job I have months or years to find a new one before things would really get dire. Don’t get me wrong I’m planning to move in somewhere nicer and have kids soon too, but extended periods of living below your means allows one to save enough money to increase what their means can provide at the same income level. It also allows you to make migrations without the stress of what happens during the overlap in employment, living situation, insurance, etc. Wash, rinse, repeat. E.G, I fixed up a junkyard car by hand in high school and drove it for a decade so I could afford to buy a new car in cash instead of a lease or a payment with interest. Not having interest applied on top of the purchase made it a lot cheaper for me in the long run than the same vehicle would have been for others that stretched to purchase it. I’m not saying it doesn’t suck a little to see other people with things that I want, but I prefer the safety net I’ve built for myself. I think most people could benefit from a shift in perspective about what they can actually afford, and how they should choose to live their lives.
I’m not saying I’ve never seen someone get something and wonder how they can afford it, it certainly happens plenty. But wages are not increasing like the prices of housing, student loans, groceries, going to the doctor, having a child, and all kinds of things an employed person should be able to take for granted. “Just live below your means” is not very realistic when the means aren’t keeping up.