Quote:
Originally Posted by kien
Don't get me wrong, I do agree that cost of living is going up a lot faster than it traditionally has, for various reasons. I do also see the same trend that you mentioned about keeping up with the Jones'. Last year one of our friends purchased a camping trailer. Then this year another friend bought one but a much more expensive one with more bells and whistles. Now the original friend who got one wants to sell theirs to upgrade. At a dinner table last weekend both friends asked me when I would be getting a camping trailer. WTF?? I'm perfectly happy with my 15 year old camping TENT, thank you very much.  |
The new term is called "Working Poor" because it is so easy to get virtually anything you want on credit and the problem is most families on a dual income average $85-120,000 per year which in therory should be enough for most people to live off of but mortgage, usually 2-4 credit cards, line of credit, Store credit/debit cards, vacations, loans and your standard bills all add up to the point where you can't afford to live henceforth the tem "working poor".
Sadly I know so many people like this including my brother and his wife they think they are being money smart but have already declared bankrupcy once and are close to it again yet its not their fault its the banks fault as they tell me