That's something I don't understand. Back in the day, most women were homemakers and the husband brought home the bacon. They owned homes and a vehicle, and managed to feed and clothe their families.
Nowadays it's rare that a family can get by on one income. The wife will at least have a second-income job. Why is that? And how does it work that prices have grown so far over income?
I think part of it has to do with how many luxuries are considered necessities today.
Today, people think they need two cars. Yes, it makes life easier but it is not necessary if one parent doesn't work.
Today, people assume they need cable and the internet. It does amuse people but so do games, reading, doing things outside, etc.
Clothes used to be hand-me downs. My mom was the fourth of six kids. Almost every article of clothing she wore as a child was a hand-me down from her sisters before her. Today, people feel the need to buy the latest styles from trendy stores. It's seemingly a big fau paux today to buy clothes that someone else has bought and worn before you. The clothes are cheaper but it is looked down upon in today's society.
Another need for today's society-you knew I was getting to it-cell phones. They were invented in 1973 and today, if you don't own one, you get looked at like you have two heads. One of my cousins has a cell phone. He's 10. What does a 10 year old need with a cell phone?
This one is hard for me to mention but it is one that really saves on the electric bill. Air conditioning. Again, a device that has wormed its way so deep into the fabric of our society that people forget you can live with out it. My electric bill is very low during the summer because of this-roughly $90. I don't use my AC unless we are having company over. I open windows, turn fans on, and drink plenty of fluids. I figure, my grandparents survived with out it so it is doable.
Please note, I am not trying to bash anyone in this post. I am just saying that if you sit back and look at how many things you own that are luxuries and how much you could save with out them, it can put a new spin on how to manage your money when you start to feel the financial pinch.