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I watched Suze Orman last night, and I found one of the callers on her "Can I afford this?" segment, mind-boggling! It was a 24 year old woman, who wanted to buy a large piece of Louis Vuitton carry-on luggage .. for about $2,400! When it came to Suze's "show me the money", this young lady had college and/or credit card debt, and only made about $2,300 per month. Needless to say, the purchase was "DENIED!" by Suze.
Another caller wanted approval to blow her entire anticipated bonus, tax refund & then some, by trading in a 3-year old luxury car, for an even more expensive new luxury vehicle.
What is our society doing wrong, for young people to be willing to spend more than an entire month's take-home pay, for a single piece of designer luggage, while they have debt hanging over their head? Or to blow a nice "windfall" on an expensive car, when they already have a nearly new one?