Has Financial Hardship Become the Accepted Reality?

Is it just me, or has there been a cultural shift where being broke is almost seen as the new normal? Don’t get me wrong—there are very real challenges in today’s economy that make it harder to get ahead in 2025 than it might’ve been in 2015 or even 2005. But instead of that sparking more grit and determination, it feels like a quiet acceptance has crept in. And honestly, that mindset is troubling. Now more than ever, we need to double down, adapt, and push forward—not settle.

In fact these days it seems that being broke is a joke, I see people posting about it all of the time. While humour can be a good coping mechanism you definitely run the risk of acceptance and thus stuck in the hole. For some being broke has almost become an identity instead of a changeable situation. Don’t get me wrong it isn’t easy to get out of that hole, but, but the sure fire way to stay in that hole is to keep digging.

As one of my favourite YouTubers, Kyle from over at Passive Income Investor always says, “You have to be willing to put yourself in the gulag for a few years”. Jokes aside being able to put yourself into a state of frugality as early and for as long as possible will actually go a along way. Being able to be content with the little things is an incredible place to be!

Thinking back to those early years after university, my housemates and I had a simple philosophy: keep living like we did during our student days. It wasn’t just nostalgic—it was financially smart. Even as we started earning more and advancing in our careers, we always said, “Worst case, we can dial it back to the university days.” And honestly, that mindset has served us well.

Most of us lived with housemates all the way up until we moved in with our now-wives. Sure, a few of us had our own one-bedroom apartments for a stretch, but more often than not, we chose to live with someone else to keep costs low and savings high. It wasn’t always glamorous, but it was practical—and that made a big difference.

Delaying gratification is seemingly becoming a lost skill, so many people refuse to buckle down early on in their accumulation phase. In the end they end up accumulating is debt and not wealth. If compound interest is the 8th wonder of the world high interest loans has to be one of the horrors of the world. Simply paying minimum payments and not at least covering all of your accumulated interest for the period is a death spiral.

Lately, I’ve noticed a growing stigma—especially online—toward people who budget, delay gratification, and aim for financial independence. It’s disappointing to see smart money habits criticized instead of celebrated. I’m no psychologist, but I’d guess it often stems from insecurity. Still, it’s a mindset that does more harm than good.

If you’re feeling jealous, I’d encourage you to acknowledge that emotion rather than ignore it. Then ask yourself, What can I do about it? If no clear answers come to mind, consider reaching out to the person you’re envious of and ask for advice. The worst that can happen? They say no. But more often than not, people are willing to share what they’ve learned.

By taking a step back and looking at yourself, or asking for help you are beginning on the path to a better situation. Pointing, blaming, criticizing is the easy way out and most importantly it has zero real positive affect to your situation.

If I can leave two things to work on they would be:

1. Do not try to keep up with the Jones’s
   • Often those who have all of the things are in an even worse financial situation than you are. The truly wealthy do not flaunt it.
2. Build a budget
   • Include your necessities add a buffer of 5-10%
   • Include your TFSA and RRSP contributions make them combined at least 15% of your growth income
   • The rest is your fun money, however in the early years pushing more into savings will make a huge difference in the future.

Remember it is up to you and you alone to control your financial situation and if you are well on your way already, there is something to be said for stealth wealth status!

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Cheers ☕