Yes i saw a segment on "battlers" on today tonight. Talking to a family who was complaining about the cost of living. They were in a McMansion at a Harvey Norman dining table, with associated furniture, plasma tv in the background playing foxtel.
When figuring out their expenses they pulled out iphones to use the calculator.
These are my stats that might be of some interest to compare to others.
At 44 years of age I am a school teacher, wife works part time, 2 kids.
Comsumption: wife and I have a 9 dollar pm phone plans, no foxtel. No credit cards, no hire purchase.
Until recently I owned only 1 second hand car. First new car Hyundai i30cw wagon bought last year.
I have 80 grand owing on a 2 bedroom investment flat in Ashfield NSW (positively geared). It was our first home bought 15 years ago.
I have a 460k mortgage on my home which I have paid down to 317k in 5 years.
I can go 2 years without making a single mortgage payment.
I have 20k cash savings and a modest share portfolio.
People in trouble largely live beyond their means. I don't have a huge income, but am in a good position to capitalise on any crash.
This was not by accident, it was living frugally while others flaunted their fake wealth in front of me.
I am not sorry if it all falls apart and I gain out of other peoples stupidity.
I say bring on the crash. The misery won't be of my making.
