This topic hits home a little for me, so pardon the rant. I see a great deal of personal entitlement in twentysomethings and in people my age too. I see people all the time...ALL THE TIME...groaning about how they can save NO money...make NO progress on their dreams...etc. Two days later they are off on their trip to the BVI or Europe..or whatever. Two weeks later they are stressing to the max about their credit card bills. They certainly are living a life of disillusion if they can not get a grip on WHY they are in debt, while at the same time feeling as though they DESERVE toys, vacations, etc.
My Mother taught me that I didn't deserve anything, unless I REALLY could pay for it. This does NOT mean on credit or via a loan. So I admit, that this is not always possible, but I will tell you I try very hard to accomplish that with every purchase. It took me until i was 30 to get it right. In my 20s I did not feel entitled....I felt PRESSURE to have a nice car, a home, eat out a lot, party a lot, spend a lot, vacation a lot....etc. I felt that if everyone else was doing it, I was a failure (or would be viewed as one) if I was not keeping pace.
Then I hit a wall. I was in debt up to my eye balls, despite what I was taught. So at 27, I decided to make a huge change....and I did. I decided to start my own business. I knew that if that business succeeded, it would pay for all my other dreams and a lifestyle I wanted. I knew if it failed I would be no better off than I was at that very moment ...at rock bottom.
A decade later, I own more than one business, more than one car, a mutli-million dollar home, have a very sensible amount of liquid cash flow just in case I need it, am debt free (except the mortgage) and own my CS outright.
My gamble paid off, but I also know that at 27, 28 and so on....I started making smarter decisions. Success did not come easy or fall in my lap. I simple changed my behavior. I learned about assets and liabilities. How to calculate REAL income, how to take advantage of tax breaks (not many), how to invest a little at time, what ESCROW and EQUITY are...and how to take advantage of them......and.....exactly what my Mother meant by waiting until you REALLY can afford something to buy it. It just took some time.
So I REALLY do not like it when people ask me how I can afford the Cayman, in a manner as if to really say....you are only 37....who the hell are you?
The truth is...I just finally got smart and stopped being stupid. This is NOT a bragging session. I do feel blessed, but I do feel as though my decisions got me here ....so I do DESERVE it!
PS I do not have a PHD "Papa Have Dough", am not a trust fund baby, and have never taken more than $100 at any given time from anyone, including my parents. So I am living proof that it can be done!