A little closer to us ordinary folks, I drive every day wondering how all the people on the road around me are affording $3000 house payments and $750-$1000 car payments.
I have a 2004 Sonata, 2007 Sonata, 2017 Indian, all paid off a long time ago. Outside of a $465 mortgage payment (plus taxes and ins - not escrowed) we have no debt. Credit cards paid off every month. And yet somehow the amount of money going through our hands every month seems beyond my control....and growing.
My point? we are not wasteful, yet new cars and homes are well beyond our reach if we spend responsibly. I have to wonder if a whole bunch of families are living on the edge and could collapse economically collapse very quickly with little warning. Very disturbing.
I totally agree. I always wonder how many people are in huge debt to keep up with the Jones’s. I believe it’s a large number.