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> How many people do you think would manually pay a large chunk of their paycheck into a savings account every months before deciding whether they can afford an

> How many people do you think would manually pay a large chunk of their paycheck into a savings account every months before deciding whether they can afford an extra order of curly fries? People are irrational. I have a loved one who told me they can’t afford car insurance, but subscriptions to Spotify, Netflix, Duolingo, and uses DoorDash, etc. I think people are wired to think that small purchases are ok but that long term things are “not possible.” Of course there’s also a sense of people wanting to have some joy in their life now and choosing to gamble away future prosperity.

ryandrake 2y ago
> People are irrational. I have a loved one who told me they can’t afford car insurance, but subscriptions to Spotify, Netflix, Duolingo, and uses DoorDash, etc. Yes, that's the Avocado Toast problem. You point out that maybe, just maybe, they don't need all of these optional luxury expenses if they can't afford to do "normal adulting". The response is always a cornucopia of excuses and fatalism: "Saving $5 is not going to make me financially stable!" and "There's no way I'll ever retire--I might as well live a little today!" and "I can't just eat rice and beans every day!" and "Why shouldn't someone have just one little luxury to make them feel happy?" and "The cost of my flagship smartphone is trivial, just 1% of my student debt!" It's not the actual Toast that's the problem, it's the attitude that excuses the toast.
- analognoise 2y ago
  “To the capitalist, every luxury of the worker seems to be reprehensible, and everything that goes beyond the most abstract need – be it in the realm of passive enjoyment, or a manifestation of activity – seems to him a luxury.“ - Karl Marx
- cam_l 2y ago
  The avocado toast problem is that an average house in my city costs just over $1m (aud), while avocado toast averages $20. So that is about 45 years of eating avocado toast 3 times a day, hell even just getting enough for a deposit will take 9 years. The reality is saving $5 here or there will not make a difference. You need to be saving 60 bucks a day for 10 years just for a deposit. Or over a hundred for a more palatable 5 year saving. The average wage in Australia is around $1400 per week, tax is around 20% and average rent is around $300 per person. So that leaves you with $120 for everything else. Yes, it's the attitude that is the problem..

ryandrake 2y ago

> People are irrational. I have a loved one who told me they can’t afford car insurance, but subscriptions to Spotify, Netflix, Duolingo, and uses DoorDash, etc. Yes, that's the Avocado Toast problem. You point out that maybe, just maybe, they don't need all of these optional luxury expenses if they can't afford to do "normal adulting". The response is always a cornucopia of excuses and fatalism: "Saving $5 is not going to make me financially stable!" and "There's no way I'll ever retire--I might as well live a little today!" and "I can't just eat rice and beans every day!" and "Why shouldn't someone have just one little luxury to make them feel happy?" and "The cost of my flagship smartphone is trivial, just 1% of my student debt!" It's not the actual Toast that's the problem, it's the attitude that excuses the toast.

analognoise 2y ago
“To the capitalist, every luxury of the worker seems to be reprehensible, and everything that goes beyond the most abstract need – be it in the realm of passive enjoyment, or a manifestation of activity – seems to him a luxury.“ - Karl Marx
cam_l 2y ago
The avocado toast problem is that an average house in my city costs just over $1m (aud), while avocado toast averages $20. So that is about 45 years of eating avocado toast 3 times a day, hell even just getting enough for a deposit will take 9 years. The reality is saving $5 here or there will not make a difference. You need to be saving 60 bucks a day for 10 years just for a deposit. Or over a hundred for a more palatable 5 year saving. The average wage in Australia is around $1400 per week, tax is around 20% and average rent is around $300 per person. So that leaves you with $120 for everything else. Yes, it's the attitude that is the problem..