I read this article the other day and it really hit home. How to go Broke on $100,000 a year
This really details out in black and white just how people with six figure incomes can easily get into debt without even really living extravagantly. After seeing this, two main thoughts come to mind:
1) There are many more people that are in the same situation I was in. If nothing else, this article validated the fact that I wasn't the only one with very decent income that fell into debt. I really didn't think I was alone but this demonstrates just how easy it is to go down the debt path. Debt is definitely not associated with lower income households...it's linked with people from all income levels.
2) This article really hit me with the reality that "making 6 figures" isn't equivalent to living luxuriously. I guess it might have meant that in previous generations but it sounds like 6 figures just doesn't go as far as it used to. I remember growing up thinking that if I made 6 figures, I would be filthy rich. I'm talking MTV-type lifestyle :) Heck, I was amazed at the thought of making even half that. But that just isn't the case. Don't get me wrong, people/households that make 6 figures should not be "complaining". There are many more people that make much, much less. And you should totally be able to live comfortably with a 6 figure income. I'm just saying that the high priced toys and expensive adventures need to be put on hold. On hold till you become debt free and have accumulated crazy wealth! :)
No comments:
Post a Comment