Friday, July 27, 2007

Learning about money from the rest of the world

This was an excellent post from a personal finance blog I read frequently, Get Rich Slowly.

While you are drowning in debt up to your ears paying off your mortgage, the guys who did the actual work to create your house have no debt and their income so far exceeds their spending they are able to save big time and send money back home.


Basically, a few takeaways:

a) Americans spend too much energy in the "rat race" trying to get ahead of others.

b) In other countries, it is socially acceptable to live with your parents, a major savings.

c) This is NOT simply attributable to things being cheaper abroad.

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