Oh it's much tougher to live within your means, because people consider so many more things to be necessities. In the mid 70's, you may have had a couple of tv's, but you didn't have a computer and laptop. You didn't have a cell phone or the bills that went with it, including texting which according to my kids is mandatory, and the Blackberry. If you had kids then, you didn't have nearly the kid's fees you have now for every activity they're involved in because as kids, we just went outside and played (sheesh I'm sounding old). With the computers you also have your internet bill, and with the tv's you must have cable. And as you point out, you must have it and you must have it now, so just add it to the credit card. Oh, and don't forget about the family vacations. Gotta take the family to Disney World before they get too old to appreciate it, and don't forget the cruises. In my neighborhood, I was shunned because I didn't buy my kids a horse! And as I mentioned, way back in the 70's, they didn't have credit scores. You met with your banker and explained how you could afford the loan, and there was a chance you knew the banker personally.
Oh yeah, and in my city, houses have definitely not risen much in value. Welcome to Texas.
