Oh we were living the American dream in the 80s. Taught well by DH's parents. Cars, house, lots of credit card debt. (Do you remember interest rates back then?_ Until we crashed and nearly had to declare bankruptcy. I got mad and said "no way, I can't do that". So we stressed and slogged our way through it. I took a ton of surgery call to pay it down. Stress, stress, stress. No going out. No vacations. Nothing extra. We both went to college for a long time. Paid cash along the way (did I say I took extra call?)
Life was all stress and no fun at all. By 1994 (when my Dad died and I realized how truly short life can be), we had dug out of all consumer debt and "only" had mortgage and 2 car payments. No, we really hadn't yet learned to save and pay cash.
Then I "met" YMOYL in 1999. i did the homework and DH said he would "go along" but hates to read. We committed to save and pay cash for what we wanted.
Forward to 2010. 2 homes owned/paid off. All debt repayment $ going to savings and retirement. Build our 18month emergency fund. Vacation? Sure, pay cash. New car in 2016? Yup, wrote a check. I love my C300 and not a moment of buyer's remorse.
Life is relaxed. The BIGGEST difference. One of us could quit our job tomorrow-no problem. We could both quit if we really wanted to. We would need to increase our frugality but it's totally doable. So work is somehow more enjoyable and that is so awesome! It's easier to get up and go because we don't have to. Does that make sense? We can take an impromptu trip with ease. (we went to our college bowl game last year-dropped a small fortune and enjoyed every minute of the 60 hours we were gone).
Oddly, we wanted everything in the 80s (you know, that damn Jones thing). Now that we can have it, we don't want it.
Yes, life is most definitely different. The 80s and 90s were painful and stressful. The 2010s are fun and relaxed with no needs or wants.
Someone here years ago said, "Now that I can afford broccoli, I'd rather grow it". That line has always stuck with me.