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Started By
Message
re: 60% of American adults don't have enough in savings to cover a $1,000 emergency
Posted on 5/9/19 at 7:18 am to SlowFlowPro
Posted on 5/9/19 at 7:18 am to SlowFlowPro
quote:
people who carry huge, high-interest debts make ME feel anxious
Because you don't have the expectation that everyone else will take care of you one day if something bad happens
0
Posted on 5/9/19 at 7:25 am to SlowFlowPro
Met with a person recently with 180k credit card debt. Pathetic
Posted on 5/9/19 at 7:29 am to Upperdecker
quote:
We get it, most people are poor and stupid and over spend and up to their necks in debt
Very few are actually poor. They are just terrible with money. Anyone with a minimum wage job should be able to have $1k sitting somewhere for an emergency.
Posted on 5/9/19 at 7:34 am to wasteland
quote:
Met with a person recently with 180k credit card debt. Pathetic
Why are the CC companies offering this guy this much credit?
Posted on 5/9/19 at 7:39 am to wasteland
quote:
Met with a person recently with 180k credit card debt. Pathetic
so their interest alone is $30k-ish per year?
i'm assuming they pay off some of it so discounting the 20% of 180k = 36k math
Posted on 5/9/19 at 7:44 am to GreatLakesTiger24
quote:
An alarming 60% of adults don't have enough money in savings to cover a $1,000 expense.
And here I was worried because I wasn't sure that having 6 months of regular income stashed away for a job loss or medical emergency wasn't enough.
Get your shite together idiots. You're gonna ruin things for the rest of us who are responsible.
Posted on 5/9/19 at 7:44 am to SlowFlowPro
quote:
so their interest alone is $30k-ish per year?
How do you even get out from under that debt? (assuming you aren't rich)
Posted on 5/9/19 at 7:44 am to fr33manator
quote:
I bet they have cable and smart phones and big screen TVs though
More than likely.
If OP is correct, fricking sad. No idea why people dont save
Posted on 5/9/19 at 7:46 am to GetCocky11
quote:
How do you even get out from under that debt? (assuming you aren't rich)
Usually the only avenue is bankruptcy or a consolidator letting you basically turn it into a mortgage on a house you'll never live in or be able to sell. Just flushing money.
Posted on 5/9/19 at 7:47 am to fr33manator
quote:
I bet they have cable and smart phones and big screen TVs though
And everything but the cable is financed for 5 years
Posted on 5/9/19 at 7:49 am to ShoeBang
quote:
Usually the only avenue is bankruptcy or a consolidator letting you basically turn it into a mortgage on a house you'll never live in or be able to sell. Just flushing money.
I'd die of a stress-induced heart attack if I had to live that way.
Posted on 5/9/19 at 7:49 am to GetCocky11
quote:
How do you even get out from under that debt? (assuming you aren't rich)
my heart rate is increasing
Posted on 5/9/19 at 8:12 am to GetCocky11
quote:
quote: @Met with a person recently with 180k credit card debt. Pathetic”
Why are the CC companies offering this guy this much credit?
I was wondering about that, and if person is still making payments or has the amount ballooned with interest, penalties, and collection fees after failing to make payments.
Posted on 5/9/19 at 8:18 am to GreatLakesTiger24
but they have the latest smart phone, a 40 k vehicle, and 5k worth of tats...
Posted on 5/9/19 at 8:30 am to GreatLakesTiger24
No surprise at all. Our accounting department, which probably averages $38,000 - $48,000, mostly drive luxury cars. Sure, they might be entry model cars or they may have sugar daddies, but it still seems above their means to me.
Hell, one of the executive assistants here just told me shes leasing a new Lexus SUV. With a note at $550'ish a month.
Hell, one of the executive assistants here just told me shes leasing a new Lexus SUV. With a note at $550'ish a month.
Posted on 5/9/19 at 8:42 am to TheWiz
quote:
Hell, one of the executive assistants here just told me shes leasing a new Lexus SUV. With a note at $550'ish a month.
People would rather make people think they have money than actually have money. I find it hilarious, but hey you do you is what I say.
I'm over here happy as a pig in shite because we have no car notes, a mortgage we can afford, and kids in public schools we can trust. I do me, and I'm happy. Some people don't le little things like financial stability get them down, so bully for them.
Posted on 5/9/19 at 8:47 am to TheWiz
quote:I thought accountants did well
Our accounting department, which probably averages $38,000 - $48,000,
Posted on 5/9/19 at 8:48 am to GreatLakesTiger24
I have the second to third highest salary at my office. I have a beat up 12 year old truck. The number of $50 to $60K+ trucks and cars in our lot astounds me. I'd never think of paying that much for a car and people that don't make near as much money as I do have a new $50K+ vehicle every 3 to 5 years. After car notes and house payments there just can't be that much left over.
Posted on 5/9/19 at 8:54 am to athenslife101
quote:
i strongly doubt these
Have you ever seen the size mortgage a bank will give you?
Or car note?
Or credit card?
Responsibile people look at these numbers and laugh.
"No way I could afford that"
"This bank is crazy". Etc.
But, plenty of ppl say
"oh goody I can buy this $500k house on a household income of 100k".
This is why I totally believe this stat.
Posted on 5/9/19 at 9:04 am to Tyga Woods
quote:
my bro in law constantly buying ATV, yeti, etc. had to borrow $1100 for AC
I'll bet he is always showing off too?
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