“How does anyone afford growing up? “

  • Posted by J
  • October 21, 2005

Via DYFL:

“I’m in my 20’s, mostly living paycheck-to-paycheck, though I’m saving a little. My credit is okay–not perfect, but not hideous. It’s improving, albeit slowly. My finances are under control, but I can’t imagine ever being able to afford a house, kids, vacations … I can’t even imagine affording a washing machine at this point, much less a house to put it in! My salary is low compared to some of my friends (~$28K), but lots of my coworkers make that and have homes and kids. I think I’m fairly “normal” for a 20-something city dweller, but I’m wondering how people manage to make the transition to surburban-dwelling, baby-supporting grown-ups. How do you afford to take the next steps? Must I marry landed gentry?”

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October 21st, 2005
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Comment Number:
1
Written by:
d
Posted on:
October 21, 2005 at 10:34 am

funny, I was just discussing that with my mom a couple of days ago that I simply can’t foresee any time soon where I will be able to start saving anything. depressing as all get out.

Comment Number:
2
Written by:
star
Posted on:
October 26, 2005 at 10:21 am

As old school as it sounds, pay yourself first with 10% from each paycheck. Before you know it, you’ll have a good amount for a down payment on a place. Then, all your money will no longer be wasted on rent, rather, you’ll be paying for your place. I’m just finishing school right now, and that’s my plan.

Comment Number:
3
Written by:
mary
Posted on:
October 26, 2005 at 11:59 pm

I was just discussing that with my mom, too. I’m not sure how it works… according to my calculations I’ll be 69 by the time I’ve paid off school, so, save? what save? when income/outflow’s a zero-sum game, saving is a word I only vaguely remember from old econ equations. (to wit, my marginal propensity to save is, like, .1 or something.) from my unscientific observations, I daresay a good percentage of our generation is in a similar boat.

do they even make landed gentry still? where do we find them? are they interested in adopting slightly-used twentysomethings?