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re: One in four Americans has more debt than savings
Posted on 2/23/12 at 10:38 am to dewster
Posted on 2/23/12 at 10:38 am to dewster
The problem with people today is they want everything, but can't afford it. I know people driving nice cars, always having new clothes, carrying I phones, etc., but are two months behind on the house note, water and electricity bill, and are still planning expensive vacations. Sooner or later, they need to wake up and realize you can't get everything you want without paying for it in the long run.
Posted on 2/23/12 at 10:52 am to TIGERSby10
quote:
"It's only when the tide goes out that you learn who's been swimming naked" -Buffett
I saw this a lot about 3-4 years ago. Made my wife appreciate my tightwad self. She didn't understand how our friends could afford so much until then.
Posted on 2/23/12 at 1:59 pm to TIGERSby10
quote:
The problem with people today is they want everything, but can't afford it. I know people driving nice cars, always having new clothes, carrying I phones, etc., but are two months behind on the house note, water and electricity bill, and are still planning expensive vacations.
There is another factor. Some of these people are just confused by the concept of finance. I've known people who made good salaries who were always living in heavy debt. I've discussed financial issues with many of them. The best way I can describe their mindset is that talking to them about money is like talking Latin to me. They don't understand the language and have no desire to learn.
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