Money Again

Recently I was reading about debt and savings. Just a couple of generations ago, most Americans lived within their means and even were able to sock away some savings every year. It must have been a great feeling of security to know that, even if your daily grind wasn't much fun, you were "making progress" all the time toward a better lifestyle and a comfortable retirement.

Now, it seems like everyone has thousands of dollars of credit card debt, and everyone is signing up for first-time-homeowner mortgages that are about 20 times my annual salary. I come across articles all the time about people who, after decades of hard work, had no savings to show for it and were plunged into bankruptcy by an unexpected illness or the loss of a job. And the housing market is swooping around like a rollercoaster. One couple we know bought a house a few years ago, then watched as the value of their house plunged to half of the mortgage they had committed to.

Whenever I read those articles, I eagerly check out the tips for saving money at the end - but it's always mundane things like brewing your coffee at home instead of going out every day, or trying to carpool instead of driving to work by yourself. I don't drink coffee and I ride the bus. And those things really don't save much money, anyway. I can't pat myself on the back for my coffee-free lifestyle or my lack of credit card debt because people who DO go to Starbucks every day generally earn a lot more than I do. And they have much greater earning power and potential for advancement. I feel like, even though I have a solid education and a good work ethic, I'm incapable of earning any more money than I do now. I can't envision a job I would be capable of landing and doing competently that would pay more than the one I have now. I had a lot of potential back when I was in school. It bothers me a bit that I seem to have maxed out now at such a low level.