Quote:
Originally Posted by GGG
I do think being Monthly paymented and latted to death is a huge financial literacy issue.
Cell phone
Cable
Car
Amazon Prime
Neltflix
Crave
Apple Music
The apps store
.....
The subscription model is becoming a very popular way to extract people from their money without them being aware.
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If you actually break it down into real dollars, similar or greater subscription expenses have always existed. Instead of cell phones and Netflix, there were magazine, cable, and phone subscriptions a generation ago. Given the huge profitability of magazines 30 years ago, you can't argue that the previous generation didn't have their own vices.
Anyways, I think this is all a bunch of garbage being spewed by baby boomers to rationalize their own wealth while they create an even greater economic strangle hold over younger generations.
Coffee shops aren't a new thing. Spending $200 less a year on coffee is not going to get you anywhere near a down payment on a decent property. The bigger question is why are middle class earners now expected to live in poverty without any kinds of luxuries? That certainly wasn't the way 30 years ago.