Apparently not. My daughter entered the work force this year. We have taught her to save as much as possible. She is shocked to see how others don't save anything.
The other people spend, spend, spend and spend some more - all on "junk". They have to "Keep up with the Jones".
I am always shocked at the amount of credit card debt of so many people.
We have no debt and our kids, in their thirties, have no debt. They save every month, some in a 401K, but most in bank CDs. They pay off their credit cards every month and save for big items they need.
Maybe they’re not living up to their friend’s standards but they have no worries about debt either. They both know that jobs are not forever in this new age.