Americans Are Still Spending Like There’s No Tomorrow

Re:Americans Are Still Spending Like There’s No Tomorrow by Always_Anon on Monday October 02, 2023 @11:45AM (#37739634)

I took the opposite approach and used the pandemic as a great way to save. No eating out, no going out for drinks, zero travel... I saved a lot, and paid a lot of debt down. I'm continuing some of these trends still. I do not eat out as much as I did pre-pandemic, I haven't traveled much, etc.

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Re:Americans Are Still Spending Like There’s No Tomorrow by throw9away6 on Monday October 02, 2023 @12:04PM (#37739960)

Unfortunately you still lost 35% of your purchasing power unless you put it in the market

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Re:Americans Are Still Spending Like There’s No Tomorrow by Always_Anon on Monday October 02, 2023 @12:20PM (#37740274)

Of course! A large portion of it went into the market, with great returns. Maxed out 401k, IRA, paid off my school loans, etc. Pandemic time was sweet financially, honestly.

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Re:Americans Are Still Spending Like There’s No Tomorrow by __rito__ on Monday October 02, 2023 @01:22PM (#37741411)

I started earning during the pandemic and had a sweet life. There was no place to spend money other than buying stuff from Amazon, and streaming subscriptions. I saved a lot and expected my life to be this easy, always.

Then came late 2021 and 2022. I wouldn’t understand the hole in my pocket and failed to save even okay amounts.

I got in touch with seniors, asked dad, and read up on financial hanits and markets, and I am slowly on the track to becoming a financially responsible adult. In the last 4-5 months, I have saved well.

Now I wish I had saved much more during the pandemic years. Life was sweet and easy then. Could save so much even after spending a lot.

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Re:Americans Are Still Spending Like There’s No Tomorrow by throw9away6 on Monday October 02, 2023 @02:27PM (#37742384)

If you had negative networth you came out ahead

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Re:Americans Are Still Spending Like There’s No Tomorrow by 90d on Monday October 02, 2023 @05:15PM (#37744498)

And if you put it into the market today they can help you lose the rest. Better late than never!

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