Originally Posted by
tandempower
If they budget for it, they also budget to be in debt. That means they are budgeting money they don't have (yet) and banking on making more money to pay that debt. That puts everyone under pressure to squeeze money out of others to pay off debts, which makes for bad social-economic relations.
If people actually limited themselves to what they could afford without going into debt, they would be free to negotiate work and business opportunities without subtle pressure and desperation that puts everyone involved at a higher level of drama/aggression.
Transit and other LCF transportation options provide the opportunity to live debt-free, or at least more debt-lite.
No doubt, America is a debtor society. When young and just starting out, most people have to be that way.
The trick is to not wanting the latest and greatest as one's income increases. Buy an older model car with cash or put down a high percentage down-payment.
For example, buy a 10 year old Toyota Corolla for $4K and keep it at least 4 years, add in insurance, gas, repairs, maintenance, registration, etc. and it will cost about 40 to 50 cents per mile on a 10,000 mile year.