But the priority for the last two or three decades has been to acquire a lifestyle out of a glossy magazine. And who could resist when credit cards were coming in the mail everyday? When boards of directors voted to give CEOs exorbitant salaries and parachutes? Why settle for imperfection when you could replace things over the internet?
And why not buy that mirrored sphere for the garden, the very same patch of space taken care of not by yourself, but by a gardener for $120 a month? Why should your kid clean her room when you can pay a housekeeper $70 a week? Why drive an old car when you can lease a new one every two years? Want to see the world? Want botox? New clothes? "Here, 
put it on my card."
I wonder if the net effect of two generations who veered toward choosing a lifestyle over the life they could afford will be a generation with no concept of saving. I'm worried the debt we've incurred as a nation will only get larger when the economy picks up again. Instead of saving, everyone will start spending again. Credit cards will again be sent by the load through the mail. Ultimately, since one day this progeny will create policies in government, their spending may be no better than it is today. Might we be locked into the crush of an endless tango? A foxtrot which the band never stops playing as California slips into the ocean and Manhattan becomes another Buenos Aires?
Some will say my concerns are alarmist. But it's food for thought as we look forward to the sunrise on this sleeping economy.
Top image from Alter Now
Article comments
1 - Joanne Huspek
You are so right.
I've been on the low end of the pay scale and grew up with a family of seven dining on one chicken, but not this generation. Although we're not wildly rich, I'm embarrassed by what we do have, until I realize that the new poor actually has a lot more than those who suffered through the Depression. Even the so-called poor these days have cell phones and cable.
What I'm trying to say is that unless you struggle through life and debt yourself, you really won't learn anything.
2 - Brian aka Guppusmaximus
Yea... I don't believe it is "alarmist" when California is handing out IOUs for their Tax Returns,yet, they make MJ's memorial & funeral state funded. Talk about priorities.
3 - S L Cunningham
Yes, it really is about balance, and you have given your children good examples of how to appreciate the value of money by learning how to manage need over want. It is the same lesson I taught to my son. Before buying something, ask yourself, "Do I need this?" If the answer is "No," then don't buy. Only after you have taken care of your needs, and have enough left over to splurge a little, you can then reward yourself with a "want." Enjoyed reading.
4 - Kate Kashman
What you say is true, and it makes me crazy! I love the idea of posting the utility bills on the fridge...if only I can get past my love of a clear fridge :) Great article.
5 - Silas Kain
Yea... I don't believe it is "alarmist" when California is handing out IOUs for their Tax Returns,yet, they make MJ's memorial & funeral state funded. Talk about priorities.
What about the millions being spent by the military to build mega churches on bases in the U.S.? Couldn't that money be better spent on the families of those who have fallen in service to this country?
6 - roger nowosielski
"What about the millions being spent by the military to build mega churches on bases in the U.S.?"
That's news to me, Silas. Have you got any references?