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by glogla
1689 days ago
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> Many people in the US could easily have 10h work week, if they could just reign in their creeping lifestyle inflation and live like people did at the end of 19th century. This is a dangerous lie that makes it sound like most people's money are going to luxuries. They don't. Over 30 % of average household spending in the US goes to rent or other housing, with insurance and healthcare being next 20 % and transportation next 15 %. See https://www.elitepersonalfinance.com/average-household-budge... You might think people are spending money on TVs and iPhones and cars but most people buy a TV or iPhone every month - to their landlord, and once in a while buy a new car to their hospital. |
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Well housing is a great example of creeping lifestyle inflation. At the end of the 19th century, the average new house size was around 1,000 square feet and the average household size was close to 5 people. So 200 square feet per person. Today the average new house size is around 2,500 square feet and the average household size is 2.5 people. So 1,000 square feet per person. That's lifestyle inflation. If you're OK with 1,000 square feet shared with 4 other people, you can live more cheaply.
Health insurance wasn't common then and health care was close to non-existent. Penicillin hadn't even been invented yet. If you cut yourself and it got infected, you might die. If you're OK with living the way your great grandparents lived, you can live more cheaply. If you get sick, pray.
The average new car price is $40,000. That's another great example of creeping lifestyle inflation. I think I might have spent $40,000 in total on the 7 cars I have owned in my life. If you're OK with people at work making fun of the car you drive, you can live more cheaply.