I have been poor, dirt poor - I mean standing in a street with just the clothes on my back wondering how I get anything to eat that day...
And I have been comfortable - I like comfortable...
Where I see the current generation of young folks going wrong is that they spend every penny they make, before it is made.. If you are young and single, you should be living like you are back at a college fraternity - a bunch of guys to a small apartment... You should be saving every penny you make at your day job and living only off your weekend job... In five years you will have a tidy nest egg, be that for buying a partnership into a small business or striking out on your own...
If you are married and have two incomes, you absolutely must not spend even one penny of that second income... Yes, that means no big screen TV, it means furniture from GoodWill, and a night out is a DiGiorno's pizza over at a friends place, no designer jeans, driving a 4th hand car, (my best advice is for you to have only a pre-paid cellphone) and the most important thing at the end of the month budget meeting is how much did savings go u p that month!
Depending on a steady 'job' for the rest of your life has gone from the American dream right after WWII to the American nightmare today - where you will be let go every time there is a let down in the economy - about every 6 weeks currently - and you will find only temp jobs with no bennies, lousy pay, and a bad ending when you are old ('old' is currently defined as 45 and unemployed)...
As far as feeding your soul - 10 years down the road when you are busy making the friday payroll and knowing that the quarterly taxes are due in 3 weeks, your soul will be way too engaged in keeping the business afloat to worry about some mythical 'feeding'...
The funny thing is when I give this pep talk to Gen Q/X/Y/Z, whatever, I get incredulous looks and glazed eye dismissal as some cranky old fart who is well into senile dementia - as they covertly text away on their $300 a month smart phones...
But when this comes up with new immigrants whose feet just hit the USA months ago and they are sleeping 4 to a room, their heads are bobbing up and down in agreement with me... In five years, 6 or 8 of them will go together with the money they saved and buy a Dairy Queen... In 10 years they will own outright a couple or three businesses... In 15 years the pilot among them will be partners in an airplane.. In 20 years he will be age 45 and ordering a spanking new Cirrus for himself... And the Gen 'whatever" with the glazed eyes and the smart phone will be the minimum wage, part time ramp boy using the tug to get the gentleman's airplane out for him...
denny-o
old and really cranky