Here is the easiest way to spot financial disasters
They:
1) eat lunch with coworkers and order drinks on top of that
2) drive a car that they paid more than $8,000 for
3) buy new clothes
4) have engagement rings/wedding bands that costs more than $300
5) had a wedding that was at a venue
5) have a house larger than 1,000 sq ft in a LCOL area and 200 sq. ft in a HCOL area
6) want to work until they are over 50
7) have two cars (see #2)
8) have their kids in preschool
I've done 1, 2, 3, 4, 5, 5b, 7, and 8. I'm obviously a financial disaster... or maybe these are terrible criteria. Or do I get a pass because I'll be retired long before 50?
It's easier to spot a mustachian:
1) No consumer debt
2) Live on half your income
3) Ride a bike
4) Life plan doesn't include needing to work forever
Not a perfect list though... We should be more inclusive!
1) No [new] consumer debt
2) Live on [reasonable fraction of] your income
3) Ride a bike [and/or drive an economical car]
4) Life plan doesn't include needing to work forever
Edit: Full disclosure: I'm a business major.