re: I cannot figure out the logic of this.

quote:

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I know people with graduate degrees that live paycheck to paycheck and are in perpetual debt

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My sister (no pics) is a pharmacist. One of her biggest surprises when she started work was her colleagues' complete lack of financial skill and restraint. They would build a big house then complain about the utility bills. But the biggest thing was cars. One would go buy an new, loaded Acadia, and everybody else would rush out to do the same. A year later one would go buy a Lexus, and they would all go trade their year-old, sharply-depreciated Acadias off on the same model Lexus.