Follow up to "Debts are not Bills" -- my "Theory of Accurate Lifestyle"
My "Theory of Accurate Lifestlye" says that people are living a lifestyle consistent with their income. If not they'd be bankrupt in just a few months.
People find themselves in debt not because they are purposefully buying more than they should. They climb into debt because they are planning less than they should.
People know if they can afford $15 jeans or $150 jeans and buy the "right" ones. They also drive cars they can afford, eat at restaurants that won't weigh down their budget, etc. People's lifestlye generally reflects their income (except for those days when their inner Tyler Durden kicks in) and socio-economic class.
What people don't do is plan for things like tires, car insurance, wedding trips, job changes, and (even) toys, etc.
The remedy for debt then is not about reducing your lifestyle, the remedy to debt is to just to spend a LITTLE bit less than you have been so you build yourself a cushion, then a savings account, and eventually a retirement.