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Is everybody in debt?

115,289 Views | 681 Replies | Last: 3 mo ago by Captain Winky
TXTransplant
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The difference between how most families live now vs when I was a kid in the 80s and 90s just blows my mind when I stop and think about it.

Now, I grew up on the MS Gulf Coast, so there weren't a lot of really wealthy families. But among the middle class (which is what we all were) NO ONE drove Porches or BMWs, or even expensive trucks. The fanciest car anyone had was a Cadillac (which was a real status symbol).

Women did not get regular manicures or waxed or plastic surgery, and no one had Louis Vuitton or Gucci purses. At most you got a cut and color every few months. Vacations were to Disney World, Dollywood, or the Redneck Riviera.

We were one of the few families with a pool, and it was literally a big rectangular cement pond in the middle of a completely un-landscaped backyard.

I didn't start seeing Mercedes and BMWs until I went to college. But even those girls didn't have all the $$$ designer crap you see high schoolers carrying now.

The life I live now and that I've been able to give my son is so much different from how I grew up. I'm not into the designer shoes and bags, but he's traveled out of the country 5 times, to Hawaii twice, and Alaska once. He's got an iPhone and an iPad and a car insurance bill that my parents would have choked on.

We are the exception in our 'hood because we DON'T have a pool. I think the economic demographic of his classmates at school is a little more diverse than other areas, but he spent the school holiday a couple weeks ago at someone's Lake Conroe house. I googled the address, and the houses for sale on that street are $900k-$1 MM.
MAS444
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AG
Social media (and "reality" tv). Wish I could make it go away.
TXTransplant
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I think that plays a part, but it's not the whole story.

It's just so much easier to spend money now. Go to a website and have your heart's desires shipped to you overnight without ever leaving the comfort of your sofa.

With a few clicks of the mouse, you can have airline tickets to some far off destination.

When I was a kid, we had to drive to New Orleans to get the fancy designer stuff, whether it be cars or shoes or bags. And "designer" was Coach or Dooney and Bourke. We had no idea anyone besides movie stars or Ivana Trump had LV or Gucci or Chanel.

Travel was what, through a travel agency? I flew on an airplane once as a kid. I don't know how my mom bought the tickets.

I do remember her being on the phone for hours making hotel reservations at Disney. Had to get the $99/night hotel room before it booked up, or we couldn't afford to go.

MAS444
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AG
Very good points. I'm from a smaller town too and had to go to the big city for the good stuff. Didn't fly anywhere either because my mother, who I lived with, couldn't afford it.
South Platte
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TXTransplant said:


I didn't start seeing Mercedes and BMWs until I went to college.
I remember when Ags that were doing well bought the big maroon Suburban. I grew up in Dallas, and the Highland Park well-to-dos drove the big navy blue Suburban. Now you'd be looked at funny if you rolled up to an HP Scots FB game driving a Suburban.
TXTransplant
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Haha, right! Once Cadillacs started becoming more of a wealthy Grandma car, Ford Explorers became the new status symbol.

I don't even remember seeing any Lexus SUVs or sedans, and those were the low bar for flaunting your middle class wealth in the late 90s and 2000s.

Red Pear Luke (BCS)
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Just reading these last few posts recalls something I learned early on....

"A lion does not concern himself with the affairs of sheep"

If someone is gonna judge me for showing up in a Suburban vs the Grand Wagoneer or whatever new Mega SUV Flavor of the day - I still wouldn't care.

I've got no car payments and a well-stocked emergency fund. So when the tide decides to roll out, you'll easily be able to discern that I am not one of the ones swimming naked.
Howdy Dammit
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Same here. You're awesome. Kovars2021@gmail.com
TXTransplant
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So the psychology of all this is very interesting to me. I'm not sure it's about being judged (or not being judged).

At least in my 'hood, I feel like it's a whole lot of wanting to fit in. Not because you are afraid of being judged but because you just want to look like everyone else.

Literally, the women all look like clones of one another…same (ugly) purses, same cars, same fake nails, same shoes, same Lululemon leggings, same fake boobs.

Obviously, the message it also sends is that they (or their husbands) have money (or high credit card limits), but it's like some weird sorority for the upper middle class.

Diggity
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to be fair...you did move to Stepford
Baron von Bulsh
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Sea Speed said:

Medaggie said he has about 6 months to live and will be in hospice soon on another thread.


I think that poster was Medwriter. Prayers for him and his family in these coming months.
Michael Cera Palin
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planoaggie123 said:


...and to the tread title...i forget if i posted earlier and not going to look...but yes, my wife and I cannot wrap our heads around how much so many people in Plano / North Dallas spend. Between Rovers, Private School for multiple kids, country clubs, $1.XM homes, etc. Where I grew up, there were like 2 of those families...in plano, it seems like that is your middle income and its annoying at times...i am sure they will spend all their savings and vote democrat for bailouts when they get old....


Growing up in Plano felt like we were the Beverly Hillbillies. The amount of opulent wealth in Collin County is absurd.

Getting out of there permanently and realizing how ridiculous that place is did wonders for my mental health.
Red Pear Luke (BCS)
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Preach brother, preach.

We recently did the same thing and I can honestly say my mental health is 10x better.
TXTransplant
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Diggity said:

to be fair...you did move to Stepford


Tell me about it. If it weren't for my own, I wouldn't know what real boobs look like anymore.
double aught
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MAS444 said:

Very good points. I'm from a smaller town too and had to go to the big city for the good stuff. Didn't fly anywhere either because my mother, who I lived with, couldn't afford it.
I'm with you guys on all this. I made friends with people from Houston and Dallas while at A&M. Going back to their homes was the first time I'd ever been in a McMansion. Those sort of homes were unheard of where I was from. I thought they were just for the ultra wealthy.
not hedge
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I grew up in an upper middle class neighborhood, I was pretty sheltered (private school until HS). I assumed most people lived like we did, HS really opened my eyes and I saw friends who would live in less than desirable homes or apartments, college opened my eyes to the extreme wealthy. Kids who drove Porsches or Range Rovers and would go on trips almost every month. Once you see the other sides you almost get a sense of clarity in a way
MAS444
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Quote:

At least in my 'hood, I feel like it's a whole lot of wanting to fit in. Not because you are afraid of being judged but because you just want to look like everyone else.

Literally, the women all look like clones of one another…same (ugly) purses, same cars, same fake nails, same shoes, same Lululemon leggings, same fake boobs.
So glad my hood doesn't feel that way.
planoaggie123
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Red Pear BCS Luke said:

Just reading these last few posts recalls something I learned early on....

"A lion does not concern himself with the affairs of sheep"

If someone is gonna judge me for showing up in a Suburban vs the Grand Wagoneer or whatever new Mega SUV Flavor of the day - I still wouldn't care.

I've got no car payments and a well-stocked emergency fund. So when the tide decides to roll out, you'll easily be able to discern that I am not one of the ones swimming naked.

While familiar with the concept that is a great way to state it.

After a promo I did buy my wife a used Lexus but I do my best to stay low-key as much as I can. We try not to keep up with the Jones but I must admit it can be tough and teaching our kids such lessons is even harder. Growing up lower middle income those lessons were not hard to teach and hard work and appreciation for stuff was much easier to learn.

I do relatively well now...nothing crazy but comfortable....I drive a 10 year old Honda Accord Sport....it does not matter whether I am parking in the management parking lot at work or going to soccer practice...I am usually in the bottom 3% of cars and I am 100% ok with that....
Sea Speed
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Baron von Bulsh said:

Sea Speed said:

Medaggie said he has about 6 months to live and will be in hospice soon on another thread.


I think that poster was Medwriter. Prayers for him and his family in these coming months.


I think you may be correct. Sorry for any confusion. Terrible place to be in no matter your income.
Hungry Ojos
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Where is this again?

Asking for a friend.
TXTransplant
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Haha! I live in The Woodlands. But even my BF's redneck friends who live out in the county have been, um, enhanced.

It's amazing to me how accessible plastic surgery has become.
Red Pear Luke (BCS)
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TXTransplant said:

Diggity said:

to be fair...you did move to Stepford


Tell me about it. If it weren't for my own, I wouldn't know what real boobs look like anymore.

jh0400
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AG
My wife and I both grew up poor. She was worse off than I was, because my mom eventually remarried and my stepdad had a good job at the local plant. We both work with no kids, and I've been fortunate to have my income almost double in the last four years. I should have another good bump coming when I officially assume a VP role on 1/1. Travel is our number one hobby, and our credit card bill averages $10.5k per month with some months as low as $6k and some as high as $15k. We max our 401ks, IRAs, and save around 30% of our take-home ex my RSU vesting. That all goes into our taxable investment account as additional forced savings every year. Our cars are paid off, and I intend to buy a new one for me early next year that I'll most likely pay cash for as well. I could easily cut my monthly spending by $2-3k, but because I spent most of my life in a position where I had to worry about money I don't really want to.
LMCane
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PWestAg18 said:

planoaggie123 said:


...and to the tread title...i forget if i posted earlier and not going to look...but yes, my wife and I cannot wrap our heads around how much so many people in Plano / North Dallas spend. Between Rovers, Private School for multiple kids, country clubs, $1.XM homes, etc. Where I grew up, there were like 2 of those families...in plano, it seems like that is your middle income and its annoying at times...i am sure they will spend all their savings and vote democrat for bailouts when they get old....


Growing up in Plano felt like we were the Beverly Hillbillies. The amount of opulent wealth in Collin County is absurd.

Getting out of there permanently and realizing how ridiculous that place is did wonders for my mental health.
my folks lived in Plano before moving to Allen last year.

if you think that is the Beverly Hillbillies, try Potomac Maryland.

Potomac Housing Market Trends

What is the housing market like in Potomac today?

In September 2022, Potomac home prices were up 40.4% compared to last year, selling for a median price of $1.3 million.

Median Sale Price
$1,275,000
+40.4% year-over-year

JobSecurity
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AG
I tend to be frugal, buying things used, on sale, etc where ever possible. The thought of paying $80+ for a polo from aggieland outfitters makes me want to vomit. But I definitely spend a LOT of money on random unnecessary **** just because it's easy and I'm on my phone or computer at least 15 hours a day.

Housing is the one area I would splurge. We spend so much time at home I would rather have a house I love and that suits my lifestyle. Unfortunately with rates where they are and the housing explosion of the last couple years I feel stuck and may not ever be able to upgrade at this point
EclipseAg
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TXTransplant said:

The difference between how most families live now vs when I was a kid in the 80s and 90s just blows my mind when I stop and think about it.

This is really true. For educated professionals, especially, the baseline for what is considered "normal" has been radically transformed over the past several decades.

We see it in every aspect of our lives -- homes, vacations, cars, entertainment, dining out, etc.

It puts tremendous pressure on everyone, even those who can afford it.




EclipseAg
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Re: Tracking expenses and investments.

It may be old school, but I use Quicken and have for many years. I can tell you what I spent for a pizza back in 1992.

It's subscription based now. Before, when it was part of Intuit, it was basically ignored for a few years. Now it has new ownership and they've invested a good deal of money into updating it.

Wrec86 Ag
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I sent the template to anyone else who asked... but I don't know how to send it to you. Post your email address really quick and I'll get it to you. You can take down your email address after I do.

If anybody else wants to be enterprising, you can put it up on a shared google drive... I just won't pretend to be that savvy when it comes to managing that.
aTm_bomb
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AG
Id be interested.

Received. Thanks!
Howdy Dammit
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AG
Wrec86 Ag said:

I sent the template to anyone else who asked... but I don't know how to send it to you. Post your email address really quick and I'll get it to you. You can take down your email address after I do.

If anybody else wants to be enterprising, you can put it up on a shared google drive... I just won't pretend to be that savvy when it comes to managing that.

Got your spreadsheet. Really appreciate you sending. Now I just need to go back to school for my PhD in computer science so I can figure out how to use it correctly. Haha
Wrec86 Ag
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Howdy Dammit said:

Wrec86 Ag said:

I sent the template to anyone else who asked... but I don't know how to send it to you. Post your email address really quick and I'll get it to you. You can take down your email address after I do.

If anybody else wants to be enterprising, you can put it up on a shared google drive... I just won't pretend to be that savvy when it comes to managing that.

Got your spreadsheet. Really appreciate you sending. Now I just need to go back to school for my PhD in computer science so I can figure out how to use it correctly. Haha
Most of it is fairly simple, at least from a math perspective. If you have any questions along the way, email me and I'll help you out.
htxag09
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AG
I'd be interested....username at gmail

gracias!
Michael Cera Palin
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Wrec86 Ag said:

I sent the template to anyone else who asked... but I don't know how to send it to you. Post your email address really quick and I'll get it to you. You can take down your email address after I do.

If anybody else wants to be enterprising, you can put it up on a shared google drive... I just won't pretend to be that savvy when it comes to managing that.
Oh my bad, my post meant I already have my own, sorry for the confusion
txag2008
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AG
Would enjoy seeing it. Thanks in advance.
FDXAg
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I, too, would be interested in that excel spreadsheet. dicedealer18@netscape.net.

Thank you
 
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