Do you find people start to hide their financial problems more as they get older ? I just don't notice it among my generation as much as I do when I observe my parents for example. I definitely feel that my parents tried to hide their financial issues and act like they could provide things/everything was okay when in reality they really just didn't want to admit they couldn't do something for us because it made them feel shame. I remember when my mom was sick while I was in high school I had no problem buying groceries but it clearly made them sad to need that help. I don't see myself feeling that same sense of shame but maybe that's just because I haven't been in her shoes. I'm wondering if it's just because I haven't observed enough of this stuff within my age group but it sometimes feels like struggling financially is more socially acceptable. Actually just struggling in general whether that be financially, mentally or something else.
It's perfectly acceptable to be struggling at 25. It's known that the economy sucks, Ikea is your friend, and none of your peers are maxing their 401k while also covering a 1900sqft condo. It's fuckin' bullshit to be in the exact same spot at 40. I spent 9 years in LA. I came back to Washington driving the exact same fuckin' car to live in the exact same fuckin' house. The car is long since paid for and the house will be in ten years, but it's rank bullshit. The fact that I've got a whole bunch of machinations going on in the background doesn't matter - we gauge ourselves based on where we are positioned compared to our friends and if our friends are making more than us, we suck. Based on this article, I am kicking ass. We've got all sorts of retirement, our expenses are low, our revolving credit took a temporary hit from one of those "shocks" talked about and there's no fuckin' way in hell I'm tapping my retirement to pay anyone's wedding. For a pair of freelancers that haven't had a "job" in ten years we're conquering. But when I see someone younger than me driving an Aston Martin it galls. At least in LA they had the good sense to slap a Domino's sign on the top so that we all knew what they had to do to cover their lifestyles of the rich and famous.
I see what you're saying with the comparing ourselves to our peers, when I was going back to college many of my peers where graduating University and getting on with their lives but I wouldn't say it brought me a sense of shame like the article describes. I won't pretend like I was happy about it, it just wasn't something I felt shameful of. I think the attitude he is talking about from his local butcher of “If anyone says he’s sailing through, he’s lying.” is far more common now. Likely due in part to statistics and articles like this one that make people realize they aren't even close to the only one with these issues.
It's credit cards, student loans, car loans and mortgages. And I mean, shit - everyone's got like $90 a month that simply wasn't on the horizon 20 years ago before we all had to have cell phones. I can go out and get a 7-year car loan. Back when I bought my (now) beater, a two year loan seemed crazy. You just end up with this preposterous parasitic overhead that simply wasn't a factor when your parents were kids. And got help you if you smoke. I remember having my head blown off at $12 cartons of Marlboros.
I pay 70$/month for internet at the apartment and will have to upgrade to the 80$ plan because we keep getting fined for going over the data limit. + 30$ for a phone plan with no data. And then they wonder why more young people are not buying cable... Buying a house? pff most my friends will probably stay with their parents until their late 20's.everyone's got like $90 a month that simply wasn't on the horizon 20 years ago before we all had to have cell phones.
$30 a month for a phone plan with no data? Seems high (but maybe that includes a free phone, or something?) I pay $16 per month - NZ dollars, about $11 US; I get 500 MB data (which rolls over if unused, good for up to 12 months), plus I get 100 rollover minutes to NZ and AU per month; unlimited texts to NZ and AU; unlimited minutes to calls to the same provider; and most international calls are 6 cents per minute. But I pay about twice what you do for monthly internet + VOIP landline (fiber with a 500G data limit, with a small extra charge for going over).