SteveR
Moderator Emeritus
- Joined
- Jul 1, 2005
- Messages
- 2,811
ESRBob said:I think the trend to upscale our lifestyles is powerful and durable, and if you're going to ER its one of the beasts you need to wrestle with almost daily. Little things keep edging up from 'luxury/splurge' to 'norm' to 'necessity'. ... Maybe having a little extra slack in the budget is a good idea to allow for this lifestyle creep over the years ahead.
I see this in my step kids lifestyles. They are married with kids. They upgrade cars every 2-3 years (staying upside down in the loans). They both have upgraded their home in the last 2 years. Both are pinching pennies to get by each month yet have nothing saved and are not even close to thinking about college for thier kids. Retirement planning?? No way! But, they both have new phone, new Ipods, new digital cameras and new laptops.
Despite my best efforts to get them to see the 'evil of their ways' there is no change in their behavior and no end to their consumerism...even when it gets in the way of their kids educational needs. It makes me sick to see what they are doing. One couple has already been in financial problems and had to file for the big "B." It seems to have made no change in their spending. They seem driven to spend with no thought of tomorrow and then when they get into trouble to whine about having no money to pay for X or Y that their kids need (tutoring).
I see no good way out for them. They have had several 'wake-up' calls yet continue to spend like there is no tomorrow. It is looking like DW and I will be doing most of the 529 contributions to their college fund and that really pisses me off. I hate to have the grandkids hurt because of their parents lack of good judgement and self control.
They are too old to spank. What do you do? Leading by example is not working and providing council is falling on deaf ears. Sometimes you just have to watch from the sidelines and hope the damage is not too great. I see a storm brewing.