I can't imagine being a young person just starting off in the world. Rent is outrageous, the prices of a car, even used, is through the roof. Groceries and goods are nuts. If you do the math for the average starting salary vs bills, it just does not compute. I held onto my first home that will be paid off in 5 years. I'm holding onto it for my boys to have an affordable place to live if they stay in the area. Right now a 3 bedroom house in my old neighborhood is renting out for $2,400.00 a month. That is insane to me.
You're right. When I got married at 29 yrs old, I was only provider, and yet we bought a house, had two cars, a child, did not want for middle class comforts, could save a little, and had some play money left over at the end of the month.
I was not what you would consider a high earner, but if you consider 55k income in 1985 had the same purchasing power as 157K today, that explains it.
I can't imagine a young person making it today in the same fashion.
I can't imagine being a young person just starting off in the world. Rent is outrageous, the prices of a car, even used, is through the roof. Groceries and goods are nuts. If you do the math for the average starting salary vs bills, it just does not compute. I held onto my first home that will be paid off in 5 years. I'm holding onto it for my boys to have an affordable place to live if they stay in the area. Right now a 3 bedroom house in my old neighborhood is renting out for $2,400.00 a month. That is insane to me.
You're right. When I got married at 29 yrs old, I was only provider, and yet we bought a house, had two cars, a child, did not want for middle class comforts, could save a little, and had some play money left over at the end of the month.
I was not what you would consider a high earner, but if you consider 55k income in 1985 had the same purchasing power as 157K today, that explains it.
I can't imagine a young person making it today in the same fashion.