I know a lot of people with well-paying working class jobs and it's shocking how many of them will find any way to spend money as they receive it, even if they had struggled financially in the past before they had said well-paying jobs. A lot of time it goes to the most expensive car they can afford or random home improvements that they really don't need, like something in their home will be working perfectly fine but it's X years old so let's just get a new one.
This is how you end up with upper middle class people who've been making >$100k for the last 30 years but have zero retirement savings.
I know a lot of people with well-paying working class jobs and it's shocking how many of them will find any way to spend money as they receive it, even if they had struggled financially in the past before they had said well-paying jobs. A lot of time it goes to the most expensive car they can afford or random home improvements that they really don't need, like something in their home will be working perfectly fine but it's X years old so let's just get a new one.
This is how you end up with upper middle class people who've been making >$100k for the last 30 years but have zero retirement savings.