Quote:
Originally Posted by stone hands
For the vast majority of people I know anecdotally, they could clear 1M a year and still be drowning in debt. Nobody buys stuff with money they actually have, everyone buys everything on credit no matter how much money you make. It’s a gigantic societal problem that doesn’t seem to care what your take home is. Lifestyle creep is real
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This might be partly the case (about everyone buying everything on credit these days), but that's basically necessary. A lot of us love online shopping, and obviously that's on credit for example.
There's a marked difference I see in my clients though. People who are better off are buying everything on credit are also paying that bill every month and paying $0 in interest. In the words of Patrick Ewing, "we make a lot of money, but we spend a lot to".