I love it when old people whine about how little they used to make and get by on

larrygaga

And how little things used to cost.

Have they never heard in their very long, and clearly very wise life, of money inflation? 

climbingsingle

When I started driving, gas was $0.96 a gallon. And cigarettes were $2.00 a pack. 

larrygaga

ClimbingBrideNY said:

When I started driving, gas was $0.96 a gallon. And cigarettes were $2.00 a pack. 

lol. 

beethery

FMIL asked how much one caterer quoted us for and then said "oh my god, my whole wedding didn't cost that much!" when I told her the amount.

Yup. Y'all got married in '84, had 120 people, and had it catered by the same company (with a discount bc FGMIL worked for them). Shit usually changes in 29 years.

lyndausvi

ClimbingBrideNY said:

When I started driving, gas was $0.96 a gallon. And cigarettes were $2.00 a pack. 

Yep.

I remember not even having  internet or cell phones.    Those things alone cost me about $150 a month that I didn't have to pay when I went out on my own.

wandajune6

I make more now than my grandfather did when he retired 25 years ago. I know that he wished he didn't ask...

jenna8984

My parents bought their house in 1980 for 35k. Sold it in 2005 for 260k. That's a 5 times appreciation. Inflation may go up but that's never going to happen for us. There is no way in hell a house I buy today for 200k is EVER going to be worth a million dollars. Not fair!!

beethery

I remember my mom crabbin' at a gas station when I was in first grade because they were charging $1.05 when the ones in the next town were charging $0.95. She was bitching and saying shit about highway robbery.

Maybe she should've gotten gas on the way home the day before, and she wouldn't have had that problem!

jenna8984

Our grandparents also have sweet ass pensions from their jobs that we will never get so they made out!

MairePoppy

OK, I'm old. When my husband and I were first married, we spent $35/week on groceries and that was splurging. Our rent, including heat and hot water was $200/month. Our telephone bill was about $25. So, no bragging about how we got by on a much lower salary.

 When I was a kid, bread was 30 cents a loaf, gas was 30 cents a gallon and the same 30 cents could by a small bag of chips, a whole bunch of penny candy at the local neighborhood market. For $1, you could get a McDonalds hamburger, small fries, and a Coke or milkshake and still get change back.

theartistformerlyknownas

I mean, sure, it's all true. Your shit cost 10x less than ours. But you also made 10x less. If we have the same buying power, who cares?

KatieinBkln

We millennials think we're "entitled" to a job that pays our bills. The nerve! I'm also sick of rich people fronting like the only people who deserve any kind of fun, "splurges," or frivolities are, in fact, rich people. Poor people's lives are more stressful (according to science: http://www.nih.gov/news/health/aug2012/nichd-28.htm) and some jerk with a byline wants to tell me they shouldn't have the joy of an occasional beer, cigarette, or cable TV? You hear it all the time: "Well, you wouldn't be struggling so much if you didn't have cable. What, you mean to tell me you bought anything, ever, for yourself? When I was young and coming up I never bought myself anything. Unless you count the house that I was able to afford because the American Dream wasn't a lie back then." (not a direct quote).

luckya23

lolo883 said:

I mean, sure, it's all true. Your shit cost 10x less than ours. But you also made 10x less. If we have the same buying power, who cares?

I don't necessarily believe this is true.  I don't even have the same buying power I had in 2006.

theartistformerlyknownas

alucky23 said:

lolo883 said:

I mean, sure, it's all true. Your shit cost 10x less than ours. But you also made 10x less. If we have the same buying power, who cares?

I don't necessarily believe this is true.  I don't even have the same buying power I had in 2006.

Well I wasn't comparing now to 2006, or saying everyone has the same buying power as everyone else. But to the parents who say "I had this same wedding/house/car in 1972 for a quarter of the cost," but then freak out thinking you're overpaid because you make 4x the money they did back then... well, math. Sometimes, it does even out. The costs of everything - goods and services - have increased over time. 

buttercup1958

It annoys me to no end for people to assume that I'm an entitled millennial. Yep I'm working 3 internships/volunteers this summer for little pay so I can get into grad school. That way when I try to get a job I may actually get one instead of being laughed at. College/grad school has gone so much up in price. Honestly most of the time I feel like instead of a center of knowledge and learning college has turn into a business for profit. 

lyndausvi

Even though logically us old folks know the concept of inflation.    I think it's normal to compare real items from the past.  I'm sure you all will do the same.

 My parent's first house cost $15K.   They just bought a car last month for $60K.   It's kind-of funny how things change over your lifetime.

MairePoppy

   

lolo883 said:

I mean, sure, it's all true. Your shit cost 10x less than ours. But you also made 10x less. If we have the same buying power, who cares?

I wish my wages were 10X what they were back then. The cost of living has far outpaced our income, unfortunately.

CMGragain

larrygaga said:

And how little things used to cost.

Have they never heard in their very long, and clearly very wise life, of money inflation? 

Ah-hem!  63 years old, here.

I have never complained about this.  I am an educated lady.  I know how the economy works.  I also know that you have to make damn careful choices with your money to survive out there.  This was always true.

My background is working class.  My father drove a truck when I was young, and was a road salesman later.  He died young.  I was the "smart girl" in class, and had a scholarship to attend an upper-class old south private school in Memphis.  I learned about class differences and choices.  I married a man from a professional family background.

Everyone in my family thinks we are rich.  I agree.  We have more than enough money to meet our needs, and at this age, no debt.  That is my definition of "rich".
The rest of my family has a different definition of that word.  It has more to do with "things" and less to do with managing a budget and money.  We chose to live simply.  My sister has a boat, a HUGE fifth wheeler travel trailer, new cars, $100,000+ mortgage, and more than $25,000 credit card debt.  She loves shopping.  She is 61, in failing health, but must work to support her debt structure.  She is jealous.
We drive older cars (paid for), and just bought our first "toys", now that we have saved money for them.  We have plenty of money put away for future retirement costs, which is why we lived simply in earlier years.  We paid for both our children's bachelor degrees, and for daughter's wedding with no problems.  DH retired at age 55.  I retired at age 62.  Since we have no debts, it is easy for us to live within our means.
As Baby Boomers, we competed with our peers for jobs, housing, schools - everything!  We paid about 9% interest mortgage for our first two houses, a far cry from what you younger folks do.  We also saw inflation explode the price of housing.  We grabbed the brass ring and bought an ugly house in a good neighborhood as soon as possible, and rode the elevator to 2008.  Since we had always been conservative with our requirements, including housing, we did not get burned.  We didn't pull out of the stock market in 2008, and that was a good decision.  We have yet to actually use any of the money we put away for retirement.

My two kids have followed our pattern.  Both are debt free.  The fact that we could pay for their college was a big plus, though we did require in-state public universities as a condition.  Daughter got a major scholarship.  Both kids are home owners in suburban Maryland (Columbia).  They are living the same simple lifestyle their parents did.  We can help them out financially from time to time, and that makes us proud and happy.

I see the biggest challenge to your generation as education costs.  The price of a college education can be astronomical!  My own college education was partially paid for by my father's death benefits.  There was money to help with it, too, but I only recently discovered this.  My crazy mother lied about her finances for years, and told everybody she was "poor", which enraged her relatives.  There are ways to get around the high costs of education.  Community colleges can get you started if you have the self discipline.  You can then transfer to an in-state public university.  No, it isn't like going to Harvard, but it is a good education.  Choice of study field will make a huge difference.  An art history major might be spiritually fullfilled, but simply won't make as much as an engineer, CPA, or medical professional. (Watch out, lawyers!  There are an awful lot of your competing for those jobs!)

When I was at the University of Iowa in 1969, my tuition was about 10% of my mother's teacher's salary.  Today's tuition would be twice that.  I have seen students go into terrible debt to get the precious education.  This is a real burden, especially if you are marrying relatively young.  My daughter married at age 31.  My son is not married, but he is a computer software engineer, and makes plenty of money for his needs.
Financial times have always changed.  In the 1930's, everyone's financial world was rocked by the Great Depression, and this scarred an entire generation.  Our government had to revamp itself and reform into a government that was responsible for the welfare of its citizens.  I live near a street called "South Camp Road".  It was names for the Civilian Conservation Corps Camp that housed young men who worked on the government sponsored projects to keep them from starving.  Most of them didn't even get a high school education, but worked from the camp.

Your generation will adapt, as ours did, and as my parents' did.  It is equally hard for us to understand why your generation is sometimes unwilling to make the sacrifices ours made to get what you want, though.  It is not just inflation that has outpaced cost of living - it is also expectations and lifestyle.  I still don't own a smart phone.

larrygaga

beethery said:

FMIL asked how much one caterer quoted us for and then said "oh my god, my whole wedding didn't cost that much!" when I told her the amount.

Yup. Y'all got married in '84, had 120 people, and had it catered by the same company (with a discount bc FGMIL worked for them). Shit usually changes in 29 years.

I totally burned FMIL when she said something like that to me. I asked her to plan her wedding all over again but only with the budget she had when she got married. She didn't try, but she got the point. lol!

lolo883 said:

I mean, sure, it's all true. Your shit cost 10x less than ours. But you also made 10x less. If we have the same buying power, who cares?

This is exactly what I was trying to say. Just because there are more O's on it, doesn't change a thing. Are we or are we not currently trying to survive in the worst recession since the great depression????

lyndausvi said:

Even though logically us old folks know the concept of inflation.    I think it's normal to compare real items from the past.  I'm sure you all will do the same.

 My parent's first house cost $15K.   They just bought a car last month for $60K.   It's kind-of funny how things change over your lifetime.

Yeah, that's why I post it here instead of arguing!

KatieinBkln

CMGragain said:

Your generation will adapt, as ours did, and as my parents' did.  It is equally hard for us to understand why your generation is sometimes unwilling to make the sacrifices ours made to get what you want, though.  It is not just inflation that has outpaced cost of living - it is also expectations and lifestyle.  I still don't own a smart phone.

Ah, but do you own a computer? This is actually slightly less prevalent in the US than other countries, but there is actually a good percentage of people whose only access to the internet is via a smartphone. Smartphones used to be a fancy toy you bought after you already had a computer, but more and more stats are showing that people who otherwise couldn't afford a computer are turning to mobile devices because they are cheaper (not cheaper than a flip phone, but cheaper than a laptop, for sure!). I don't know whether this is something most or many struggling millennials are doing, but I think it's interesting to note that what was once seen as a luxury has actually become the only "fancy" piece of tech some people own. 

And good on you for not being one of the complainers! My parents are about your age and lived their lives similarly; passing frugal values onto me and empathizing, rather than criticizing, the current young generation. 

jenna8984

@cmgragain My parents are exactly like you. 58 years old, haven't had debt since about 1995. My dad always says in the 80's when a lot of his corporate big wig friends were blowing their money on cocaine, he was paying triple the mortgage payment. They paid the house off in about 10 years, always drove 10 year old cars, no fancy toys. They know they are sitting real pretty with their retirement funds right now.

FI's parents are the opposite. They didn't even buy a house until he was 15 years old, and they have refinanced and taken so many home equity loans that they basically still owe the same balance as 15 years ago. They have nothing in savings, and had to take a loan for a roof replacement. They can basically never retire.

Every time FI bitches that I won't let him buy something fun, I'm like don't forget to thank me when we're 60.

CMGragain

In the 1960's parents who wanted their children to have a good education shelled out big bucks for a printed Encyclopedia - the closest thing to a modern computer.  It was a major sacrifice for my parents.  We couldn't dispose of it until after Mother died.  The public library was my best friend during the 1960s.

PS.  Our two new "toys" are our first big screen TV, and the hot tub.  I feel guilty for the hot tub.  I could really do without it.

larrygaga

KatieinBkln said:

We millennials think we're "entitled" to a job that pays our bills. The nerve! I'm also sick of rich people fronting like the only people who deserve any kind of fun, "splurges," or frivolities are, in fact, rich people. Poor people's lives are more stressful (according to science: http://www.nih.gov/news/health/aug2012/nichd-28.htm) and some jerk with a byline wants to tell me they shouldn't have the joy of an occasional beer, cigarette, or cable TV? You hear it all the time: "Well, you wouldn't be struggling so much if you didn't have cable. What, you mean to tell me you bought anything, ever, for yourself? When I was young and coming up I never bought myself anything. Unless you count the house that I was able to afford because the American Dream wasn't a lie back then." (not a direct quote).

We need more people who think like you. If I have to hear one more time about people on welfare who have a cellphone or have a pop once in awhile, I might choke a ho.

CMGragain said:

larrygaga said:

And how little things used to cost.

Have they never heard in their very long, and clearly very wise life, of money inflation? 

Ah-hem!  63 years old, here.

I have never complained about this.  I am an educated lady.  I know how the economy works.  I also know that you have to make damn careful choices with your money to survive out there.  This was always true.

My background is working class.  My father drove a truck when I was young, and was a road salesman later.  He died young.  I was the "smart girl" in class, and had a scholarship to attend an upper-class old south private school in Memphis.  I learned about class differences and choices.  I married a man from a professional family background.

Everyone in my family thinks we are rich.  I agree.  We have more than enough money to meet our needs, and at this age, no debt.  That is my definition of "rich".
The rest of my family has a different definition of that word.  It has more to do with "things" and less to do with managing a budget and money.  We chose to live simply.  My sister has a boat, a HUGE fifth wheeler travel trailer, new cars, $100,000+ mortgage, and more than $25,000 credit card debt.  She loves shopping.  She is 61, in failing health, but must work to support her debt structure.  She is jealous.
We drive older cars (paid for), and just bought our first "toys", now that we have saved money for them.  We have plenty of money put away for future retirement costs, which is why we lived simply in earlier years.  We paid for both our children's bachelor degrees, and for daughter's wedding with no problems.  DH retired at age 55.  I retired at age 62.  Since we have no debts, it is easy for us to live within our means.
As Baby Boomers, we competed with our peers for jobs, housing, schools - everything!  We paid about 9% interest mortgage for our first two houses, a far cry from what you younger folks do.  We also saw inflation explode the price of housing.  We grabbed the brass ring and bought an ugly house in a good neighborhood as soon as possible, and rode the elevator to 2008.  Since we had always been conservative with our requirements, including housing, we did not get burned.  We didn't pull out of the stock market in 2008, and that was a good decision.  We have yet to actually use any of the money we put away for retirement.

My two kids have followed our pattern.  Both are debt free.  The fact that we could pay for their college was a big plus, though we did require in-state public universities as a condition.  Daughter got a major scholarship.  Both kids are home owners in suburban Maryland (Columbia).  They are living the same simple lifestyle their parents did.  We can help them out financially from time to time, and that makes us proud and happy.

I see the biggest challenge to your generation as education costs.  The price of a college education can be astronomical!  My own college education was partially paid for by my father's death benefits.  There was money to help with it, too, but I only recently discovered this.  My crazy mother lied about her finances for years, and told everybody she was "poor", which enraged her relatives.  There are ways to get around the high costs of education.  Community colleges can get you started if you have the self discipline.  You can then transfer to an in-state public university.  No, it isn't like going to Harvard, but it is a good education.  Choice of study field will make a huge difference.  An art history major might be spiritually fullfilled, but simply won't make as much as an engineer, CPA, or medical professional. (Watch out, lawyers!  There are an awful lot of your competing for those jobs!)

When I was at the University of Iowa in 1969, my tuition was about 10% of my mother's teacher's salary.  Today's tuition would be twice that.  I have seen students go into terrible debt to get the precious education.  This is a real burden, especially if you are marrying relatively young.  My daughter married at age 31.  My son is not married, but he is a computer software engineer, and makes plenty of money for his needs.
Financial times have always changed.  In the 1930's, everyone's financial world was rocked by the Great Depression, and this scarred an entire generation.  Our government had to revamp itself and reform into a government that was responsible for the welfare of its citizens.  I live near a street called "South Camp Road".  It was names for the Civilian Conservation Corps Camp that housed young men who worked on the government sponsored projects to keep them from starving.  Most of them didn't even get a high school education, but worked from the camp.

Your generation will adapt, as ours did, and as my parents' did.  It is equally hard for us to understand why your generation is sometimes unwilling to make the sacrifices ours made to get what you want, though.  It is not just inflation that has outpaced cost of living - it is also expectations and lifestyle.  I still don't own a smart phone.

I had this huge long rant ready to go, but my heart is acting up so I am peaceing out of this. Watch this video, it's pretty important for you watch it and learn more. If you are really educated like you say, you will probably change some viewpoints. 

I made this topic just to talk about how fast food hamburgers used to be 10 cents and now they are a dollar, and people whine about it because they don't understand inflation. 

https://www.youtube.com/watch?v=M4IjTUxZORE

Actually, this video is pretty hilarious.

simcal18

CMGragain said:

Your generation will adapt, as ours did, and as my parents' did.  It is equally hard for us to understand why your generation is sometimes unwilling to make the sacrifices ours made to get what you want, though.  It is not just inflation that has outpaced cost of living - it is also expectations and lifestyle.  I still don't own a smart phone.

I'm not trying to be snarky--I'm genuinely curious.  What sacrifices do you feel that you and you cohorts made that some millenials are unwilling to make?  Because to many of us, it seems that we are facing a vastly worse job market and a more expensive housing market than what boomers faced, except that we often get to face it with massive student debt that saddles us just when we're starting out in life, and a college degree instead of a high school diploma seems to be the new "floor" to get anything resembling a decent job.  I've worked my tail off to get an excellent (postgraduate) education and we own our own home now, but I also realize that I've lucked out in many respects, and I see a lot of my peers struggling to stay afloat even with decent jobs.  I'm not complaining--I think that every generation faces its own challenges.  But starting a young family today given the cost of educational loans, mortgages, and day care is perhaps more challenging than ever these days, I think.  Those costs can make a $200 phone seem like a drop in the bucket.

CMGragain

I used to teach in an inner city school.  I wasn't objecting to cell phones, which many people use as their only form of electronic communication.  I have a basic flip phone in my purse for emergencies only. 
I have been to many low income housing projects with huge big screen TVs, expensive gaming systems, Cadillacs in the front of the house, but no food in the fridge.

simcal18

CMGragain said:

I used to teach in an inner city school.  I wasn't objecting to cell phones, which many people use as their only form of electronic communication.  I have a basic flip phone in my purse for emergencies only. 
I have been to many low income housing projects with huge big screen TVs, expensive gaming systems, Cadillacs in the front of the house, but no food in the fridge.

Ahhh, got it.  Yes.  Big screen TV = unnecessary.  Big shiny car = unnecessary.  Gaming system = unnecessary.  None of those things should be purchased before basic necessities have been fulfilled.  And I also happen to think that not all educational debt is smart debt (taking out $100,000 loans for an art history degree probably isn't the smarted decision, nor is taking out $20,000 to go to a massage therapy school that you drop out of halfway through).  But I question the ethics of companies that make those types of loans to naive 18 year olds.  And I also grumble at older generations who criticize the work ethic of millenials who are trying their darndest to find a job but can't, and who are saddled with serious educational debt that was NEVER experienced by older generations.  It doesn't sound like that's you though.  

MairePoppy

CMGragain said:

In the 1960's parents who wanted their children to have a good education shelled out big bucks for a printed Encyclopedia - the closest thing to a modern computer.  It was a major sacrifice for my parents.  We couldn't dispose of it until after Mother died.  The public library was my best friend during the 1960s.

PS.  Our two new "toys" are our first big screen TV, and the hot tub.  I feel guilty for the hot tub.  I could really do without it.

I have a full set of Britanicas  in my basement. My father made payments on them and it was a huge expense. I take them out once in a while to see how much the world has changed. My husband wants to toss them out, but my parents would be heartbroken. So, we'll keep them for now.

A child today, without a computer, is at a serious academic disadvantage. I consider my computer a necessity. I need my cell phone, at my expense, for work. The cost of medical insurance is disproportionate to what it was when we were starting out. A couple, back then, could pay for pregnancy, childbirth and aftercare by making payments to the doctor and hospital if they were very frugal. I wouldn't chance that today. When we took second jobs back then it was to pay for extras, like vacations, Christmas clubs and dance lessons for the kids. One full time, working class income was usually enough to take care of basic needs. There are more demands, now, than when we were young and starting out.

KatieinBkln

CMGragain said:

I used to teach in an inner city school.  I wasn't objecting to cell phones, which many people use as their only form of electronic communication.  I have a basic flip phone in my purse for emergencies only. 
I have been to many low income housing projects with huge big screen TVs, expensive gaming systems, Cadillacs in the front of the house, but no food in the fridge.

I don't know. I don't love the default of resorting to extreme examples in these kind of debates--I don't think the kinds of homes you saw in the projects are any kind of statistical representation of the majority of millennials today. I also think the "priorities" of the very poor have always been subject to judgment (right or wrong), not just the current generation. The average millennial doesn't live in a housing project with a big screen and no food. Neither does she live in a penthouse in Manhattan. The reality across America is somewhere in between, and I don't know that there's any evidence that today's youngest adults are any more frivolous than their parents were--you yourself pointed out the example of your own sister, who has made similarly "frivolous" choices in her life, to her detriment. But I think the real heart of this debate is in trying to compare apples to apples--is it true that this economic climate is more difficult for millennials today than it was for their parents and even the Gen Xers? It's hard to even make that apples to apples comparison, of course. Things are inherently different now than they were back then--a person "needs" a college degree these days, and as you pointed out, college degrees are expensive, debt-making things for most people. And I don't agree that a person who, 20 years ago, would have gone to a high-quality liberal arts school or Ivy League on their merits, should have to "settle" for community college-transfer to a small state school. (N.B. I went to a state school, which was excellent, but my point is that was my choice--people being forced into less than optimal situations because of predatory loans and out-of-control tuition costs is ridiculous, and does not have to be an accepted norm). Today, a person without access to the internet is at such a severe disadvantage that the UN has declared internet access a human right. Millennials must be more nimble, career-wise, since it's less common for companies to keep employees for 20-30 years. Of course there are benefits to being a millennial, many of which are afforded to us by the hard work and activism of previous generations. But please let's not do the "oh yeah, what about welfare queens?" argument.

simcal18

KatieinBkln said:

CMGragain said:

I used to teach in an inner city school.  I wasn't objecting to cell phones, which many people use as their only form of electronic communication.  I have a basic flip phone in my purse for emergencies only. 
I have been to many low income housing projects with huge big screen TVs, expensive gaming systems, Cadillacs in the front of the house, but no food in the fridge.

I don't know. I don't love the default of resorting to extreme examples in these kind of debates--I don't think the kinds of homes you saw in the projects are any kind of statistical representation of the majority of millennials today. I also think the "priorities" of the very poor have always been subject to judgment (right or wrong), not just the current generation. The average millennial doesn't live in a housing project with a big screen and no food. Neither does she live in a penthouse in Manhattan. The reality across America is somewhere in between, and I don't know that there's any evidence that today's youngest adults are any more frivolous than their parents were--you yourself pointed out the example of your own sister, who has made similarly "frivolous" choices in her life, to her detriment. But I think the real heart of this debate is in trying to compare apples to apples--is it true that this economic climate is more difficult for millennials today than it was for their parents and even the Gen Xers? It's hard to even make that apples to apples comparison, of course. Things are inherently different now than they were back then--a person "needs" a college degree these days, and as you pointed out, college degrees are expensive, debt-making things for most people. And I don't agree that a person who, 20 years ago, would have gone to a high-quality liberal arts school or Ivy League on their merits, should have to "settle" for community college-transfer to a small state school. (N.B. I went to a state school, which was excellent, but my point is that was my choice--people being forced into less than optimal situations because of predatory loans and out-of-control tuition costs is ridiculous, and does not have to be an accepted norm). Today, a person without access to the internet is at such a severe disadvantage that the UN has declared internet access a human right. Millennials must be more nimble, career-wise, since it's less common for companies to keep employees for 20-30 years. Of course there are benefits to being a millennial, many of which are afforded to us by the hard work and activism of previous generations. But please let's not do the "oh yeah, what about welfare queens?" argument.

This.  All of this.  I would also add that I have serious concerns that we as a society are neglecting our middle class.  The rich in our society are, well, rich.  And they're getting richer--it's not just a saying, it's a fact that income equality is rising.  They're doing just fine.  And the lower classes--the poor, the elderly, the disabled--have few fixed costs and are able to take advantage of plenty of social programs.  But it's the vast majority of society that's in the middle and that is stuck with the difficulties that have been discussed above with little social support to help them out.  And that chunk of society is tasked with raising our future citizens and leaders.  All of the factors that have been discussed--high housing costs, huge educational debts, educational inflation, increased day care costs--are making it harder and harder to do that, let alone do it well.  I'm far from what would be considered left-wing, but I do believe in a system where people who are willing and able to work hard should be able to make a decent living for themselves and their families, and unfortunately I see that becoming tougher and tougher to do in this country.  

theartistformerlyknownas

MairePoppy said:

CMGragain said:

In the 1960's parents who wanted their children to have a good education shelled out big bucks for a printed Encyclopedia - the closest thing to a modern computer.  It was a major sacrifice for my parents.  We couldn't dispose of it until after Mother died.  The public library was my best friend during the 1960s.

PS.  Our two new "toys" are our first big screen TV, and the hot tub.  I feel guilty for the hot tub.  I could really do without it.

I have a full set of Britanicas  in my basement. My father made payments on them and it was a huge expense. I take them out once in a while to see how much the world has changed.

A child today, without a computer, is at a serious academic disadvantage. I consider my computer a necessity. I need my cell phone, at my expense, for work. The cost of medical insurance is disproportionate to what it was when we were starting out. A couple, back then, could pay for pregnancy, childbirth and aftercare by making payments to the doctor and hospital if they were very frugal. I wouldn't chance that today. When we took second jobs back then it was to pay for extras, like vacations, Christmas clubs and dance lessons for the kids. One full time, working class income was usually enough to take care of basic needs. There are more demands, now, than when we were young and starting out.

I couldn't agree with this more. The world has changed, and there are a lot of things that would have been considered frivolities years ago that are now necessities just to keep up, and others that people didn't realize were such necessities, like replacing baby items to keep up with the latest safety discoveries. I'm sure my grandparents thought car seats were a frivolous expense when my mom bought them for her babies, just as my mom may think it's silly to put bigger kids in booster car seats. There are lots of areas where we need more/newer/different/more expensive stuff as time, technology and our own knowledge progresses.

banana468

DH and I are on the cusp of being Millenials and Gen Xers.     We work hard and see that we don't necessarily have the same benefits of our parents' generations.   Case in point: DH's pension is basically nonexistent and I don't have one at all.   My parents each have a solid pension PLUS my father has a great 401K plan.    

Ditto for housing costs.   We couldn't sell our condo that DH bought in 2005 because the housing market tanked so we now own our house AND we're landlords.    Thank you housing market in the 90s for giving people mortgages that they couldn't pay!    

The state school that DH and I both attended has raised its tuition to be DOUBLE what it was when we attended just 15 years ago!

We're now having our 2nd child and lucky for us we don't have a car payment because the daycare cost for 2 kids full time is like leasing a luxury car.    We just recently got rid of the expanded cable package and canned TiVo which is a nice monthly savings.    On what did we watch those HD channels?   Why our old CRT HD TV of course!   We own ONE flat screen TV which is in the bedroom and only bought it because it has the current tuner.   

Yes, we still have our 3rd car but again, we don't have a car payment so there's only so much savings if we were to sell it.    

My company doesn't have maternity leave or offer FMLA so right now I'm on "vacation" while I wait for my due date and I'm tapping into a disability plan that will cover me until I go back to work when the baby is 6 weeks old (if I have a vaginal birth).   Friends and family that had babies 20 and 30 years ago had minimal costs with their insurance as they delivered.   Our out of pocket expense will be close to $2000 and that's with NO complications!       Can we afford this?   Yes.   Does it absolutely impact our buying power and ability to do other things?   You betcha.

My dad had an awakening on how much things were costing when we got married and realized that $50 a head in CT is a low cost wedding.