I read a very interesting post on The Grid this week called the rise of premature affluence. The story explores the reasons why the face of debt is getting younger these days, especially in cities like Toronto. The term “premature affluence” comes from the tendency of twenty and thirty-something’s to lead a lifestyle they feel they deserve, rather than the one they can afford.
The expectation is that their income will eventually catch up to their spending and everything will be fine. One of the more telling quotes from the article came from a twenty-something woman who said, “Why do you need to save money, when you can buy everything you want right now?”
Do you think that most people in their 20’s and 30’s are living this way?
Here are a few more interesting personal finance articles from around the blogosphere this week:
- Globe and Mail’s Rob Carrick writes, ready to be bold? Sell the house and rent
- Money Mamba says that buying a used car no longer makes sense
- Credit Cards Canada shares an infographic on Canadian debt – your tax dollars at work
- Mr. Money Mustache opines about folks who think the cost of living is too high these days
- Squawkfox says this is going to be expensive…but who cares!
- Invest It Wisely explains how to register a Canadian corporation
- Passive Income Earner looks at a railway battle: CNR vs. CP
- Canadian Finance Blog advises to watch out for Facebook IPO scams
- My University Money looked at the Quebec student strike
- Money Smarts Blog explains how to win a house bidding war
We were also included in the following blog carnivals this week:
- Carnival of Financial Camaraderie
- Best of Money Carnival
- Carnival of Personal Finance
- Totally Money Carnival
- Festival of Frugality
- Top Personal Finance Posts
Have a great weekend, everyone!