Well, during my Earning And younger yrs , living on the North Sub. of Chicago ( Upper Middle Class and the Rich Live) ?
I knew of NO-ONE who Live With in their means and Everyone Lived Beyond their Means..
The attitude was Sound.. Why? The more You Owe , the More you Work and Succeed.. It's called making Committments..
and it worked for most of us..
many had their Own Businesses and/or Professions and everyone went Bust at least once of not more, before succeeding...
Many fell into the Divorce Trap.. over 50% Divorce rates that many advisors and others don't want to mention.. It's all this Positve Stuff..But Divorce bankrupts more People than any self run business venture...
Many Knowing they will be Divorcing? Purposely go Spend it all so the other spouse won't get it..and they have to file bankruptcy and each goes their own way to really start over..
Many Women/Wives in the group were taught to Live Beyond their Means to get their Husbands to work more, so they can play more..and build up more For a Insurance Policy if they get Divorced..From Owing Bigger homes, Cars and other Assets..
and Many abide by " Keep them Broke and you Keep them Working"..theroy that has alot of merit..
LBelowYM? Sure , but Not in the Real World Me thinks is not the best way to succeed and accomplish things in life.. It doesn't test your true potential of your abilities..