Consumerism (a nasty word)

Consumerism is a social and economic order and ideology that encourages the acquisition of goods and services in ever-greater amounts. (en.wikipedia.org/wiki/Consumerism)

I wonder where it all started? When did we have to have it all at the expense of our financial future? When did having everything we WANT and not what we NEED become a primary focus?

My parents bought their first home in the mid 1960's for $10,000 and from what I hear from my Mother that if you had an annual earning of over $10,000 you were well to do.  

Nowadays (at least in my area) homes are selling for over $500,000.  As a matter of fact this past weekend we went to a garage sale at an estate around the corner from us that is listed and on the market at almost 4 Million dollars. According to a well known banks website you need to have an annual income of about $107,000.00 in order to qualify to purchase a home worth $500,000.00 - Imagine the income you would have to make to be able to afford that 4 million dollar place - the calculator on the website I got the other information on a $500K home couldn't even give me an answer - it just read to contact a branch to inquire. WOW. If you had an 1960's income nowadays of $9000.00 a year you could afford to buy a home for $2194.00 (according to the same web site). Puts things into perspective.

We live in a WANTS time as apposed to NEEDS; a flip flop from generations past.  A new Cell phone just got released and within days there were over 10 million cell phones sold - Question, what was wrong with all those 10 million peoples other cell phone? Why do we feel the need to have the newest of things.

Buy a bigger, better, newer car. Kids need all the newest high end gadgets, we need a bigger better wedding than such and such........WHY WHY WHY??? If you can' afford it - don't do it. Short term pain, long term gain.

A youngster I was watching one day saw that we were changing our flooring from peel and stick which was pink, dirty and ugly to nice new hardwood flooring.  She asked why were changing it - and what was wrong with the older floor. Stopping me in my tracks I thought "Nothing is wrong with the other floor." Yet We went into Dept. to install this hardwood flooring when in fact the other floor was just fine.

Out with the old - in with the new. A troubling thought as I get older and start to see the trap that I along with just about everyone else has fallen into. Can't afford it - put it on credit, in credit card trouble get a consolidation load, can't afford those payments either refinance your house & the vicious cycle continues. As you get older it becomes so much more important to have no mortgage and a huge savings account (specially those without pensions).  I wish I could go back and tell my younger self what I know now.  Think my kids will listen to me if I try to teach them this now?

Please write your comments and share your stories of struggles and successes on this topic. Or have any resource information that has helped you and your family - pls share it here as well.  Thank you.