Broke Breeders are Financing Themselves into the "Middle Class lifestyle" August 03, 2019 | Registered: 19 years ago Posts: 9,198 |
Re: Broke Breeders are Financing Themselves into the "Middle Class lifestyle" August 03, 2019 | Registered: 13 years ago Posts: 12,432 |
Re: Broke Breeders are Financing Themselves into the "Middle Class lifestyle" August 03, 2019 | Registered: 13 years ago Posts: 7,830 |
Re: Broke Breeders are Financing Themselves into the "Middle Class lifestyle" August 03, 2019 | Registered: 10 years ago Posts: 2,363 |
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bell_flower
Ya think? How about borrowing too much and having kyds you cannot afford?
Re: Broke Breeders are Financing Themselves into the "Middle Class lifestyle" August 03, 2019 | Registered: 8 years ago Posts: 499 |
Re: Broke Breeders are Financing Themselves into the "Middle Class lifestyle" August 03, 2019 | Registered: 15 years ago Posts: 497 |
Re: Broke Breeders are Financing Themselves into the "Middle Class lifestyle" August 03, 2019 | Registered: 11 years ago Posts: 3,576 |
Re: Broke Breeders are Financing Themselves into the "Middle Class lifestyle" August 04, 2019 | Registered: 8 years ago Posts: 232 |
Re: Broke Breeders are Financing Themselves into the "Middle Class lifestyle" August 04, 2019 | Registered: 13 years ago Posts: 12,432 |
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deegee
Car loans, especially multiple ones and large one are really bad ideas IMHO because they only add to the total cost and are for assets whose values decline quickly over time. If I can't pay cash for a car, I don't buy it.
Re: Broke Breeders are Financing Themselves into the "Middle Class lifestyle" August 04, 2019 | Registered: 13 years ago Posts: 1,735 |
Re: Broke Breeders are Financing Themselves into the "Middle Class lifestyle" August 04, 2019 | Registered: 13 years ago Posts: 7,830 |
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yurble
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deegee
Car loans, especially multiple ones and large one are really bad ideas IMHO because they only add to the total cost and are for assets whose values decline quickly over time. If I can't pay cash for a car, I don't buy it.
Yeah I don't get that. As soon as you drive a new car off the lot, the value goes way down. You can buy 5-year-old cars in good condition for a much more modest sum. That is what my parents do, and then they keep it for 10-20 more years, until it starts to cost too much to repair. (In general, my parents have a repair-rather-than-replace mentality which seems to be really lacking today in society at large. People are just so much more wasteful than I remember from childhood.)
Re: Broke Breeders are Financing Themselves into the "Middle Class lifestyle" August 04, 2019 | Registered: 11 years ago Posts: 3,576 |
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yurble
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deegee
Car loans, especially multiple ones and large one are really bad ideas IMHO because they only add to the total cost and are for assets whose values decline quickly over time. If I can't pay cash for a car, I don't buy it.
Yeah I don't get that. As soon as you drive a new car off the lot, the value goes way down. You can buy 5-year-old cars in good condition for a much more modest sum. That is what my parents do, and then they keep it for 10-20 more years, until it starts to cost too much to repair. (In general, my parents have a repair-rather-than-replace mentality which seems to be really lacking today in society at large. People are just so much more wasteful than I remember from childhood.)
Re: Broke Breeders are Financing Themselves into the "Middle Class lifestyle" August 04, 2019 | Registered: 9 years ago Posts: 3,712 |
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whining "middle class" members
Couple #2:
34 years old, one chyld
Seattle Metro area
combined family income: $155,000
They want to buy a house and have $30,000 saved as a down payment, but the house they want, a two bedroom, 2 bath house with a yard, starts at around $600,000 in Seattle
Debt: paying $1,000 per month on $88,000 debt.
Expenses:
half their take home pay goes out the door for the student loan payment, $1750 in rent each month and $1,200 per month for chyld care
car payment on a 2013 Subaru is $240/month, and they will pay off the car when it's nine years old.
Re: Broke Breeders are Financing Themselves into the "Middle Class lifestyle" August 04, 2019 | Registered: 11 years ago Posts: 3,576 |
Re: Broke Breeders are Financing Themselves into the "Middle Class lifestyle" August 04, 2019 | Registered: 9 years ago Posts: 3,712 |
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utter retards
Couple #1:
28 years old with infant
West Hartford, CT
combined family income: $130,000
debt:
$270,000 mortgage
$51,000 student loan debt
$18,000 in auto loans
$50,000 over 8 credit cards, including $7500 on a TJ Maxx card
Choice quotes:
Dud: "“I’m normally a worrier, but this is next-level stuff. I’ve never been more stressed. Never would I have thought with the amount we make I would have these problems.”
From the article:
"They no longer dine out several times a week. Other hits to their budget were hard to avoid, such as a wrecked car that forced them to borrow more." Editor's note: does that mean they were driving uninsured?
"Ms. Breeder has not used her T.J. Maxx credit card in more than a year. She makes the minimum monthly payment on its balance of approximately $7,500. Her monthly statement says if she continues at this pace, she will need about 23 years to pay it off. Earlier this year, Mr. Breeder put his credit cards in a Ziploc bag with water and placed it in the freezer. In May, however, they went to two weddings, and needed a card to cover the cost of a gift and a rental car. Mr. Breeder removed one of the credit cards from the freezer. “A lot of things came at once,” he said. Since then, he’s taken the rest of them out, too."
Re: Broke Breeders are Financing Themselves into the "Middle Class lifestyle" August 04, 2019 | Registered: 19 years ago Posts: 9,198 |
Re: Broke Breeders are Financing Themselves into the "Middle Class lifestyle" August 04, 2019 | Registered: 18 years ago Posts: 9,970 |
Re: Broke Breeders are Financing Themselves into the "Middle Class lifestyle" August 04, 2019 | Registered: 12 years ago Posts: 146 |
Re: Broke Breeders are Financing Themselves into the "Middle Class lifestyle" August 05, 2019 | Registered: 13 years ago Posts: 12,432 |
Re: Broke Breeders are Financing Themselves into the "Middle Class lifestyle" August 05, 2019 | Registered: 9 years ago Posts: 3,712 |
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demonkitten
Dang! I wish I had that kind of income. It's just me with 3 cats and no kids. I used to think I would follow the Script, but then I saw how many of my coworkers have struggled over the years. I knew one girl, she just had a baby a year ago. She worked with me part-time, but told she and fiancee were over 80,000 in debt. From both hospital bills and excessive buying.
Re: Broke Breeders are Financing Themselves into the "Middle Class lifestyle" August 05, 2019 | Registered: 9 years ago Posts: 282 |
Re: Broke Breeders are Financing Themselves into the "Middle Class lifestyle" August 05, 2019 | Registered: 7 years ago Posts: 651 |
Re: Broke Breeders are Financing Themselves into the "Middle Class lifestyle" August 05, 2019 | Registered: 19 years ago Posts: 9,198 |
Re: Broke Breeders are Financing Themselves into the "Middle Class lifestyle" August 06, 2019 | Registered: 9 years ago Posts: 3,712 |
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bell_flower
......She ended up declaring bankruptcy and getting some help from family. I later found out they were pretty much sick of her sob stories regarding money. I also found out she had declared bankruptcy before but had not learned her lesson. I was actually unsure what she made but looked up her salary one day after this all happened. I was MORTIFIED to find out that she only made $48,000 per year. (ETA
not that it wasn't decent $ but she lived like someone who made much more.) This woman dressed TO THE NINES. We are talking Neiman's, Nordstrom's and had set upon set of truly impressive jewelry. They took vacations all the time. Here's some of the other dumb financial shit she had done within the last five years of her "financial hardship"
Gutted the equity in her house to pay down credit cards, then ran them back up again.
She and her husband had FOUR cars between them with high payments on two of them. I think one of them was leased.
Bought two timeshares. Took 'luxury" vacations 2-3 times a year.
Went to the Red Door salon all the time.
Ate out all the time,
Bought two purebred dogs.
Used her $25,000 savings, her only emergency fund, as a down payment on a house for her idiot 21 year old so he "wouldn't have to live in an apartment." What the fuck is wrong with these coddling parents who feel the need to financially gut themselves for their grown kids? Why can't he work for it and buy his own damn house? True to form for someone who is given something and doesn't have to work for it: He lost his job after about a year and didn't tell her. The house was repossessed so she sacrificed her own financial well being for nothing.
I could go on.
I know financial hardship can hit people: job loss, medical bills. But many people spend everything they have (and more) and they do not plan for emergencies, and they get into trouble.