Re:Price shocks in formative years scar consumption for life
by spaetzleesser on Wednesday June 15, 2022 @12:11PM
(#31755194)
It doesn’t have to even be in your youth. I lost a lot of money with a real estate deal in the 90s plus a lot more when the .COM bubble crashed. Since then I have no confidence in investing or jobs. I always look over my shoulder and wait for things to go bad. Especially since 2008 it made sense to blindly invest into housing and stocks even while knowing they would crash eventually. Being gunshy from previous experience made you lose out on a lot of gains.
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Re:Price shocks in formative years scar consumption for life
by wing-_-nuts on Wednesday June 15, 2022 @12:59PM
(#31755878)
Yeah, it's not just in childhood, it also hits early adulthood as well, when people are just starting out.
I scraped by on ~ $600 / mo in disability until I graduated college in my mid 20s in 2008. My spending habits, my hobbies, everything was ingrained around that age.
Today I make 25x as much, and barely spend 2x. It's hard to change early habits.