I have often wondered why people who are not wealthy want to spend money on items that makes them feel like they are wealthy, causing them typically to sink deeper into debt?
Most of us realize, early on in our lives, if we are going to be in the top 10-1% of those Americans that are or that will be or become wealthy. We just know it or feel it in our bones.
Wealthy people have expensive homes, cars, and clothes but they do not become asshole deep in debt to own these assets. They have the money to pay them off whenever they feel the urge they need to do this.
However, those of us who pretend to be wealthy, hardly ever pay off these debts; instead, they just keep increasing their debt.
Why does making it appear to your neighbors that you are wealthy make so much difference to Americans?
There is a desire among Americans to live your life better than your parents lived their life, I understand that, but it is not the same thing as going into debt that you will never pay off to achieve that. WHO CARES???
My wife and I paid off our debt 20 years ago and have been living debt free ever since. Two years ago, we downsized to a smaller house to further cut expenses and the physical strain on our bodies to take care of a larger house and yard.
We put as much of our money into savings so that we will always have more money to pay our expenses as they increase but to also take care of unexpected expenses.
We are happy and content and want for nothing although, we have also accepted a simple lifestyle which makes a difference as well.
You should give serious thought to what you want your future to look like and start planning for that as young as you can...
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