As financial fears mount, some Americans are "doom spending," or spending money despite their economic and geopolitical concerns, as a way to cope with stress.
Why save money when the cost of everything rises exponentially faster than my savings add up?
My dad was an immigrant juat learning English. He biked to a mechanics shop and asked for a job. He got it at $8/hr. 3 months later some guy quit and the owner asked my dad to promote and now he was making $12/hr.
He bought a 4 bed 2 bath 2 car garage home on a quarter acre for $180,000.
My mom bought a similar home for $80,000 because of the bubble crash. In a very populated city, not rural. Fted Meyer (an everything store) was half a mile away.
My parents bought their last home more than 10 years ago. It’s worth almost a million now. The mortgage is $2,000. To rent a studio apartment in the same area is $1,800.
Why save money when the cost of everything rises exponentially faster than my savings add up?
My dad was an immigrant juat learning English. He biked to a mechanics shop and asked for a job. He got it at $8/hr. 3 months later some guy quit and the owner asked my dad to promote and now he was making $12/hr.
He bought a 4 bed 2 bath 2 car garage home on a quarter acre for $180,000.
My mom bought a similar home for $80,000 because of the bubble crash. In a very populated city, not rural. Fted Meyer (an everything store) was half a mile away.
My parents bought their last home more than 10 years ago. It’s worth almost a million now. The mortgage is $2,000. To rent a studio apartment in the same area is $1,800.
What’s there to save for?
Nothing, just keep spending. Thank you for your service.