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What once could be described as "The American Dream" -- a big house, 2 cars, 2.5 kids, and no serious financial problems -- seems, for me, not only elusive but a fairy tale. Though I have two degrees (my husband is on his third), and we both own a car (one is paid off), we still struggle to make ends meet, and this way of life certainly isn't our dream. The true American Dream, for me, is an unstressed bank account with no constant monthly payments to credit card companies/student loan payments, a bigger house that we own free and clear, and the ability to look forward to having children without worrying about the financial strain.
Pay Off Debt
"Education is never a waste of money" is what my mother told me when I hesitated in my decision to pursue a master's degree. While education may not be a waste, it is definitely expensive. Besides just the bleak job market, financing a college degree is difficult. While working one's way through college is certainly the smarter option, many students, including me, have turned to student loans and credit cards.
Buy A House
After graduation, most of my friends bought houses, got married, and had children. I am one of the few left who are still renting. Perhaps it is because my husband is still pursuing a degree, but we aren't able to buy a house at this point. I enjoy dreaming about my future home, and it helps that we have a pretty great rental, but part of my American Dream is to own my own home-mortgage free.
Have Some Kids
I love kids, but at this point in our lives, however, the financial strain a child would bring could be the proverbial straw that breaks the camel's back. Clothes, furniture, toys, etc. can be bought used, no problem. But diapers, wipes, doctor's bills, medicines, the actual delivery, and all the extras that come along with a new addition? Those extras are not in our extremely tight budget.
While I often think that the American Dream has changed drastically, I believe the core ideals--a house, a couple kids, and financial stability--are still there. The type of debt that has to be overcome may have changed--namely credit cards and student loan payments--but the overall outcome of financial and familial peace is the same. Looks like we're chasing the American Dream after all.
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