Cost of living today vs previous generations (student loan, payment, interest)

[Tightwad]

An interesting read on this topic............

The “Cost of Living”; 1957 vs. 2007 « Mercyman53’s Weblog

And a way to see how the value ,i.e. buying power, of the dollar has changed.

http://dollartimes.com/calculators/inflation.htm

[Tallysmom]

Originally Posted by jlawrence01

Thank you notes, what are those?

I paid for one niece's honeymoon in 2007 and helped catered a friend's daughter's wedding this year and an still waiting for a thank you note. Do they do that anymore?

I know... I'm lucky -- my sisters have pounded the thank you note into their kid's heads. I get notes for everything -- and one niece who will be an artist one day -- does art work on the front... Adorable!

But I can't count the times I've not received a note from people. Especially bad, because I no longer take gifts to weddings -- I send them ahead of time to their home. I end up asking if they got the item I sent....

I usually get a yeah -- oh thanks... so I know they've returned it for the cash!

[formercalifornian]

Thought-provoking link, Tightwad. In essence, it lends support something I've experienced in my own life. Excessive housing expenses & servicing consumer debt are very detrimental to a household budget. Once one digs a hole of debt, it's very difficult to get out of it. Interest on credit cards, which were not available in the 50's, can spiral out of control. The key to financial health is to stay out of unsecured debt and to treat housing & auto loans with kid gloves.

[wehotex]

Originally Posted by iGlenn

It's obvious that the average family is overextended and working themselves to death to pay for all this extra stuff that no one really needs. Fifty years ago we didn't have cable tv, high speed internet, cell phones, 2 cars in the family, and the large house.

A friend of the family is facing foreclosure and they asked me to buy their house and rent it back to them. I told them I'd think about it if they provided their budget. They are only short about $250/month with a good spending allowance included. I suggested that they cancel some of the extra "stuff" so they could afford to keep the house. No dice. I was blunt and told them I can't help them if they aren't willing to help themselves. We aren't on speaking terms now and I certainly won't be buying their house.

Excellent decision! I once loaned $1000 to my crying roommate, but made him sign a handwritten note that he owed me $1ooo. That was what saved me. After he found employment, he wouldn't even pay me $25-5o/ mo to pay off the debt despite numerous phone calls for him to do so. I finally took him to small claims court and he had the gall to wonder "why"? The arbitrator told him that the note was a valid contract and that he would have to agree to pay back the amt owed. after that, we were never on speaking terms again. the old hamlet quote, is still true today, "neither a borrower nor a lender be".

[skaternum]

Originally Posted by Tallysmom

I know... I'm lucky -- my sisters have pounded the thank you note into their kid's heads. I get notes for everything -- and one niece who will be an artist one day -- does art work on the front... Adorable!

But I can't count the times I've not received a note from people. Especially bad, because I no longer take gifts to weddings -- I send them ahead of time to their home. I end up asking if they got the item I sent....

Totally OT, but: I give folks 1 chance with thank you notes. Maybe 2 if they're a kid. But if I don't get something, I strike you off my gift list. Funny, but I just had this conversation with a good friend in another state. I sent his family a gift for Christmas twice and got nothing more than a verbal thanks from him on the phone. (One of the gifts was a gift card for a family outing. They lost it, then forgot about it, then found it, then just couldn't get around to going until I specifically asked if they'd been. And yes, this was to a place the kids had been really wanting to go, so it's not like I got them a gift card to the museum of 15th century art!) I sent his oldest daughter, whom I've never met, a decent size graduation gift. Nothing. So I told my friend that they will no longer be receiving gifts from me ... period. I'm not wasting time and money on people who are ungrateful. I have better things to do. The sad thing is, my friend is 100% responsible for not teaching his children this basic social skill.

[denverian]

In 1996, I started working customer service for a company in California and their entry level wage was $12 an hour for cust. service and the receptionist. Recently I saw that they were looking for a receptionist and offering $10.50 an hour. That says an awful lot about where our economy has gone in the last decade!

[John23]

Originally Posted by skaternum

With all due respect, I don't think you're right. I tried to provide you with some concrete, fact-based info, but you'd rather "feel" and "perceive" and "believe" that what you dislike about modern society wasn't present in the glorious 50s. Fact is, it was present. Families then were just as obsessed with getting that shiny new car, eating the exciting new prepared foods that they saw on TV, smoking the right brand of cigarettes, and drinking the cocktails they saw in movies or the Kellogs brand Frosted Flakes. I really have no clue why you're trying to idealize that era.

I dont think I'm trying to idolize it. Some of it was great, some of it wasnt by todays standards. Would be very difficult to downgrade to 1 tv in house now, only a few channels, and in black and white no less.

Even with aggressive marketing, they could do all those things in a fairly stable family environment. It wasnt as chaotic as it is now.

Also, interesting link. Housing went up 100x! Explains a lot of things.

[formercalifornian]

Originally Posted by John23

I dont think I'm trying to idolize it. Some of it was great, some of it wasnt by todays standards. Would be very difficult to downgrade to 1 tv in house now, only a few channels, and in black and white no less.

Even with aggressive marketing, they could do all those things in a fairly stable family environment. It wasnt as chaotic as it is now.

Also, interesting link. Housing went up 100x! Explains a lot of things.

Really? My family of four lives on one income with one car, no TV, one computer, no microwave, and a relatively small house (~1500 sq. ft.). Believe it or not, it's not a third-world existence and it's not a hardship. On the contrary, it's a really nice life.

[Tallysmom]

Originally Posted by skaternum

Totally OT, but: I give folks 1 chance with thank you notes. Maybe 2 if they're a kid. But if I don't get something, I strike you off my gift list. Funny, but I just had this conversation with a good friend in another state. I sent his family a gift for Christmas twice and got nothing more than a verbal thanks from him on the phone. (One of the gifts was a gift card for a family outing. They lost it, then forgot about it, then found it, then just couldn't get around to going until I specifically asked if they'd been. And yes, this was to a place the kids had been really wanting to go, so it's not like I got them a gift card to the museum of 15th century art!) I sent his oldest daughter, whom I've never met, a decent size graduation gift. Nothing. So I told my friend that they will no longer be receiving gifts from me ... period. I'm not wasting time and money on people who are ungrateful. I have better things to do. The sad thing is, my friend is 100% responsible for not teaching his children this basic social skill.

I agree totally... and I just spent 6 months paper piecing a star quilt for my nephew and his fiancee for thier wedding gift....

At least with them I know I'll not only get a hand written note -- the fiancee loves to craft cards -- it'll be homemade. Their wedding invitations were stunning..... with gold embossing! I don't know how they do it now -- but when I was playing around with stamping and embossing beads it was a mortal pain. Involving very hot irons!

[chirack]

Originally Posted by formercalifornian

Really? My family of four lives on one income with one car, no TV, one computer, no microwave, and a relatively small house (~1500 sq. ft.). Believe it or not, it's not a third-world existence and it's not a hardship. On the contrary, it's a really nice life.

Personal experience the microwave is one heck of a time saver. My family lived with no microwave as a kid. I would not want to do it again. About the only downside to the microwave is it makes warming things up too easy(i.e. You might think twice about that late night snack if you have to break out a pot or a pan as well as the dish it is going into.).