Reply to I always hear that people are living beyond their means, but…

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[quote=Anonymous][quote=Anonymous]I hear how many people live beyond their means. And that those people’s lifestyles will change as they get older and have to figure out retirement (or they aren’t able to retire). I’m just not seeing this with [b]the UMC people I know[/b]. The people that seemed to have money just continue to. They really do, it seems. People don’t seem stressed about being overextended on CC debt etc. Obviously, people don’t always share their financial stresses but there would be signs. [b]Is this just because I roll in boring circles with people in “boring” jobs who are risk averse?[/b] Or do you think a good portion of people who seem to be doing well financially really aren’t? [/quote]

Probably this, and also: the economy has been pretty favorable for a long while now.  Even with market fluctuations it hasn't resulted in mass layoffs or foreclosures like 2007-2009.  People living beyond their means can usually float their expenses until something bad happens (job loss, illness, etc.).  Even a house of cards doesn't fall without a breeze.

Also it's useful to realize that different people mean different things by beyond your means.  For some it means going deeper into debt every month.  For others it means not saving a reasonable amount.  And that 'reasonable amount' will vary based on a whole host of factors.[/quote]

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