"If somebody is making $20,000, they say 'I'm going to be rich someday, because one day I'll make $60,000.'" It's understandable that someone earning so little would feel flush with cash if given a raise to $60,000. The trouble is we keep moving the goal posts, redefining what it would take for us to feel financially set, said Payne. When all your friends are also making entry-level salaries those first years in the workforce, you feel pretty good about your circumstances. As a result, even if they're doing OK at present, they don't feel like their economic circumstances are improving substantially."

Source: CBC News May 19, 2019 07:52 UTC