A couple of thoughts....my mother never worked outside of the home & 2 of us boys were raised up & are still living at an advanced age. My wife worked occasionally outside of the home & we somehow managed OK, tho not luxuriously. Then I see both parents working full-time & have a nice home, new car, etc., but if one loses a job, it can get rough... It seems better to get used to a single income & maybe occasionally supplement it with the other spouse working only part-time, but not depending on that income.
Wise observations, oldtech.
...have a nice home, new car,...
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Usually at least 2 nice cars, maybe a vacation cottage, maybe an RV, bass boat. All mortgaged to the hilt and constantly refinanced.
Then there are the work-related costs: frequent beauty shop appointments, nail salon, massage,cosmetic dentistry,a certain level of new, brand name ready-to-wear clothing & shoes, plus handbags and jewelry.
Kids spend summers in expensive theme camps. The entire family have latest generation cell phones with high cap data plans. Kids *need* all the same fashion and cosmetic accoutrements.
There are large flatscreens and top-of-the line devices in every room, with premium subscriptions. Paid lawn care. At least one expensive vacation/year, often more. Entire family orders out several times a week and don’t forget *date night*.
People are living 6-figure paycheck to paycheck just to make payments and pay for subscriptions.
Then it all stops. Income is too high for special relief payments. Delayed taxes and mortgage payments pile up. Kids cannot understand why they can’t continue as before. Any savings are gone after 6 weeks unless the jobs are considered essential.
It’s a dystopian nightmare. No wonder there is substance abuse (none of which are free), suicide, depression, physical abuse.
Maybe the financial crash will cause people to reevaluate. There is an old saying:”Once poor, never rich.”