I look at folks who I know are in a similar or less situation to us regarding income.
The have gorgeous homes, new cars, motorcycles, SxS, boat, take real nice vacations...
Obviously all on payments.
But I still try to figure how this works over 30 years?
I know our mortgage payment bled a lot of our money. One big car payment would have forced us to "manage" our money closely. So how do they make it work?
What are we doing wrong?
My wife's take, and she is right in many cases, is that it's running on Mommy's money.
I've dumbfounded by the number of 40+ year old people whose parents continually feed them money. Buy cars, toys, pay for the grandkids activities...
It’s the tapped out lifestyle. Every penny they will make for years to come is already spent. All that’s left is the payments.
Funny thing is, more money doesn’t fix the problem. I’ve had employees that did very well and I gave them raises or good sized bonuses, and it made absolutely no difference in their life. They were as broke at $40K as they were at $30K, back when that was great money around here.
