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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So true. Anecdotally I can speak of two such cases.
In the one case, it has now got to the point where the house will be lost, but in the second case, outside of a few from their inner circle who know, everyone else still thinks they are doing extraordinarily well.
And in the second case, they still won't think of downsizing and getting rid of the second property in the States or anything else. Gotta maintain that keep up with the Jones's philosophy and pretend nothing is wrong.