I don't mean to sound condescending, but I see so many younger people living above their means who are now panicking about losing their jobs. Expensive cars, expensive houses, and expensive toys all add up. Yes, you have a good job now and you can afford it, but if you don't have enough saved that you don't have to have a panic attack at the thought of losing your job, then you are living above your means. Many of you wouldn't be stressing as much if you simply adjusted your living expenses and started saving more.
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I agree with the philosophy og managing debt responsibly. That being said, it appears the OP appears to have class envy. Class envy is one of the biggest problems we have in this country. I never understood why it bothered so many people that a segment of our society does well financially.
In any case, it does not belong on here. Hopefully the layoffs are not brutally deep. But I expect them to be significant. Best of luck to all.
This is how things are done in America. This is how the American economy runs. Notice how the interest rates go up and cost of borrowing goes up that companys stop hiring, car sales go down, house sales go down. It's all driven by borrowing. Everyone uses credit cards these days so no matter what you buy you are using someone else's money to pay for it. There is also no incentive to save.
Great example, the other day I saw a GrubHub Student membership. Which student can afford to eat out with Grub Hub? I certainly couldn't when I was a student...
Yes dad.
Next we see posts about the audacity of a restaurant cooking your steak wrong.
@hfa+1i7ulvZ3 did you just respond to your own post?
Uh.... I'm sorry but whenever I drove to corporate headquarters in my intentionally beater econo-car I was always amazed by the sheer volume of NEW BMWs, Mercedes, Teslas, Porsches and even a few Ferarris and of those, a huge percentage sure seemed to be driven by middle aged people. And on top of that a lot of them lived in Palo Alto, Menlo Park and other places where a tiny shack was 1.5-2 million coupled with the expensive private schools their sent their kids to, the nannies they hired to watch said children and on and on. Most people, if paid well will in turn spend lavishly on themselves. If there are some who are now in a financial predicament as a result then its their faults for not planning ahead, especially while working such an unstable, erratic and volatile industry such as tech.
OP looks like you’re on the wrong forum! Keep your posts to layoff related topics. if we need life’s lessons there’s plenty of that to google on the internet.
LOL at this post. Completely irrelevant. I think you're just being judgemental and probably had this thought in the back of your head prior to all of the acquisition news.
Thanks, dad. By the way, Yeah, only young people live like that...
Many young people do this because their parents also lived like this too but they don't see the sacrifices their parents make to pay the bills. Also, they are embarrassed to live "less lavishly" than their friends. They need to keep up appearances to show off on social media and feel it is their right to have this nice lifestyle. They don't want to work too hard because they value their free time. They also hope mom/dad will bail them out when times get too hard. A lot of them don't even have that great of a job even. Many also prey on each other for loans and free rent (move in for free under false pretenses and then refuse to move out). Many live sad and toxic lives but act like their lives are really great when in public.
Completely agree. It’s amazing how many young folks are extending themselves with big loans for auto and mortgage and spending big and going on lavish vacations all the time. I instead focused my budget and paid off my mortgage and both auto loans by the time I was 34. Just bought new cars this year and paid cash for them instead of getting an auto loan. I make the same pool of money as the rest of you guys (+/-) and managed it. If a layoff comes my way I won’t be hurting. Living with no overhead is freeing.