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Were going in circles here.
We need more info on you. How much do you make per year?
How much is your mortgage/rent
Car payments?
How much do you put to your retirement? (Should be 10-15%)
What makes you think your friends are doing better? Maybe they have inheritances. Maybe mommy and daddy gave them a huge amount of $$ for a down payment. These are things we don't know. You know what field you are in and what field they are in. You should have a decent idea based on their field and location what they make per year.
Currently I don't work in just one field,in this area I take what I can get and if I told you what I make you wouldn't believe it...when I think about it I don't really believe it myself. Although lately I've been hovering in the area that I would consider acceptable,so perhaps it'll be a quick climb. It just seems I never have anything to show for it. I also gauge what people make by subtle things like what they do have and how matter of fact they can just buy things. Like so many people are taken aback that I can't just go out and buy another car since my other one died,things like that.
Besides, why do you care?
Comparison is the thief of joy.
If you want more, hustle.
That is often said by those who have no trouble keepng up with the Joneses...competition is what society is built on.
And as for the hustle part,that was part of the point of this thread...I don't know how much harder I can work at this age without coming home in pain nightly and barely able to stand in the mornings.
I also gauge what people make by subtle things like what they do have and how matter of fact they can just buy things. Like so many people are taken aback that I can't just go out and buy another car since my other one died,things like that.
Oh, sweetie, I know a single mother who is uber-broke but gets a new car like it's nothing. One time she traded in her pickup bc the gas mileage was bad and bought a new sedan.
If she'd bother to do the math, the difference in price was way more than the difference in gas over several years.
Then there was this other dumb lady I worked with who was broke, but when she crashed her brand new car after texting and driving, she had the gall to ask me to borrow one of mine.
Both these chicks magically have the money to go out, go to concerts, etc.
Oh, sweetie, I know a single mother who is uber-broke but gets a new car like it's nothing. One time she traded in her pickup bc the gas mileage was bad and bought a new sedan.
If she'd bother to do the math, the difference in price was way more than the difference in gas over several years.
Then there was this other dumb lady I worked with who was broke, but when she crashed her brand new car after texting and driving, she had the gall to ask me to borrow one of mine.
Both these chicks magically have the money to go out, go to concerts, etc.
So how is she 'broke'...does she just say that? When most people say they're broke they mean they're broke to do the things they want to do,not flat broke.
I'm good at reading people...I've seen people who seemed stressed out keeping up their possessions as well as those who happen to own businesses,houses who don't flaunt it which shows real financial confidence.
And some of those people who seem so relaxed are rolling in debt, or are putting away nothing for the future, and they are relaxed only because they literally can't see the oncoming financial trainwreck that's going to flatten them a decade or two around the road. Ever heard of the Dunning-Kruger effect? It's as true for money management as it is for everything else.
Just worry about how YOU are doing, and you'll do just fine.
No money in the bank = broke. you don't have to have money to drive a fancy car, eat out all the time, and take luxury vacations. You just need to be willing and able to run up huge amounts of debt while saving nothing for the future. Unfortunately that describes a lot of people.
I think you need to read "The Millionaire Next Door".It says that most people who look and act rich are broke i.e. "30,000 dollar a year millionaires".
Alot of times when I talk to someone I used to know it always seems they're rolling in money,while I continue to struggle. Was I just born with bad financial genetics? Made too many bad choices? It's not like I ever squandered it,I've always worked...just nothing to show for it now.
What's the norm?
I think the norm is that the average American spends too much money and is burdened by excessive debt.
There are also a lot of people who don't overspend, but they have an income problem, so they are also financially distressed.
I struggled for many years and was depressed and worried that I would never get ahead and then things changed and the good times have snowballed. The things I did that I think helped are:
1. Stopped thinking of myself as a victim
2. Worked very hard and took every opportunity to advance including moving across the country
3. Lived below my means for the last 15 years and now my investments are making enough to live on (though I don't do that yet)...I currently save more than most people make.
It hasn't been easy and it's cost me in some areas of my life but now I'm able to live anywhere I want and can buy pretty much anything I want including any car or house that I want.
No money in the bank = broke. you don't have to have money to drive a fancy car, eat out all the time, and take luxury vacations. You just need to be willing and able to run up huge amounts of debt while saving nothing for the future. Unfortunately that describes a lot of people.
I wouldn't mind being able to own a running car if I could pay off that debt...
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