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re: How do people let themselves get into such dire straits financially?
Posted on 4/25/15 at 2:40 pm to lsuwontonwrap
Posted on 4/25/15 at 2:40 pm to lsuwontonwrap
I have a buddy who is absolutely terrible at managing his money. He called me for $60 to borrow. 3 days later he's in the mountains vacationing with his GF. Shops at Trader Joes and Whole Foods. Lives paycheck to paycheck.
He's 35
He's 35
3
Posted on 4/25/15 at 2:41 pm to whit
he'll be 75 and still working
did he pay you back?
did he pay you back?
Posted on 4/25/15 at 2:48 pm to lsuwontonwrap
What kind of cars do they have?
Posted on 4/25/15 at 2:51 pm to boosiebadazz
quote:
did he pay you back?
When he got his tax returns
Posted on 4/25/15 at 2:59 pm to boosiebadazz
Not everyone is going to have a lot of money or be good with their money. Give people their dignity no matter what their circumstances. Ridiculing them isn't helping and as many of you know, peoples financial circumstances change.
Posted on 4/25/15 at 3:14 pm to lsuwontonwrap
quote:
I'm just honestly wondering how that happens.
Saving with multiple kids can be very hard, specially if you're not making a lot of money. An unexpected bill, like a medical expense or a major car repair, can be a disaster for even the most frugal families.
Fortunately, I'm not in that situation. Anymore.
Posted on 4/25/15 at 3:17 pm to Tigerwaffe
quote:
multiple kids
quote:not very smart
not making a lot of money.
Posted on 4/25/15 at 3:18 pm to lsuwontonwrap
Why can't he find another job?
Posted on 4/25/15 at 3:20 pm to lsuwontonwrap
They play the guitar on the MTV?
Posted on 4/25/15 at 3:20 pm to IonaTiger
Posted on 4/25/15 at 3:20 pm to lsuwontonwrap
Because some people aren't financially well off?
Posted on 4/25/15 at 3:23 pm to djangochained
quote:
This doesn't happen in the country club
Not sure if serious. Some of the most smoke and mirrors millionaires I've ever met are in CCLA.
Posted on 4/25/15 at 3:29 pm to lsuwontonwrap
Real easy.
#1 Most people live paycheck to paycheck. No one keeps savings anymore except for a retirement account.
#2 Most people are in more debt than they should be.
With those two things, being laid off pretty much ruins you.
Speaking from personal experience, I was laid off from my job of ten + years on base and it hit us pretty hard. When your bills don't go down but your income does, you're in trouble.
Now I had vacation an a 401k to help me limp along, and I couldn't even get unemployment until all my vacation was used up. And even though our bills exceeded our income, we still weren't eligible for food stamps.
That's been almost two years. I'm still not making what I was, and things are a lot tighter than they used to be.
Being unemployed and having mouths to feed really sucks.
#1 Most people live paycheck to paycheck. No one keeps savings anymore except for a retirement account.
#2 Most people are in more debt than they should be.
With those two things, being laid off pretty much ruins you.
Speaking from personal experience, I was laid off from my job of ten + years on base and it hit us pretty hard. When your bills don't go down but your income does, you're in trouble.
Now I had vacation an a 401k to help me limp along, and I couldn't even get unemployment until all my vacation was used up. And even though our bills exceeded our income, we still weren't eligible for food stamps.
That's been almost two years. I'm still not making what I was, and things are a lot tighter than they used to be.
Being unemployed and having mouths to feed really sucks.
Posted on 4/25/15 at 3:30 pm to lsuwontonwrap
Because they have 3 kids?
Posted on 4/25/15 at 3:35 pm to whit
Trader Joes is cheap
Posted on 4/25/15 at 3:38 pm to Jim Rockford
quote:
This is true whether they live in a double wide or a McMansion. You'd be surprised at how many seemingly well off folk are barely treading water.
Wow, really? I could easily survive if my work forgot to pay me for a month.
Posted on 4/25/15 at 3:46 pm to TDsngumbo
Hell before my mom died I was in the same boat. That shook me up and since then have an emergency fund that would last me a year and a half.
Posted on 4/25/15 at 3:47 pm to lsuwontonwrap
I wish some of female neghbor's would come over begging for money with a handout...I've got a "job" or two they could do.
Posted on 4/25/15 at 3:57 pm to REB BEER
I just recently added more life insurance and started another IRA, and my advisor told me you'd be surprised at people making over $300k per year that have no savings.
I'd be a nervous wreck if I were living paycheck to paycheck with that kind of looming debt.
I guess some people gotta keep up with the Joneses tho.
I'd be a nervous wreck if I were living paycheck to paycheck with that kind of looming debt.
I guess some people gotta keep up with the Joneses tho.
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