my parents have no debt except for mortgage and car payments.
both of my parents used to be the type of people who would buy everythign for my brother and I. We would go one 3 or 4 vacations a year (we never spent a summer break at home except for thanksgiving).
My dad has made a six figure salary for the past 25 years so they were very comfortable when we were younger. The problem is that COL has increased an his salary did not increase as much.
My dad makes about $160,000/year. My mom does not work.
What stopped their spending was me getting sick 4 years ago. When you go from payign a few hunderd dollars in medical expenses a year to paying between $15,000-$20,000/year...your spending has to change.
Would my parents spending have change if I hadnt gotten sick...i dont knwo. But tast teh silver lining of me getting sick. We actually have more money than we did before.