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Old 09-06-2020, 12:35 PM
 
Location: Sputnik Planitia
7,624 posts, read 10,920,616 times
Reputation: 8749

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https://www.cnbc.com/2020/09/05/ther...covid-19-.html

This lady has a $2650 monthly rent and a $581/month car payment among other things...

just an insight into how people live it up during the good times then have zero savings for the rainy day!!
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Old 09-06-2020, 12:42 PM
 
12,026 posts, read 10,649,604 times
Reputation: 11113
It is an expensive area, normal for a major coastal metropolitan area unless you want to live in a crime-ridden neighborhood. You're going to be easily paying over $2000-2500 a month if you have to house a family in an apartment. A chef can make 60 to 100 thousand dollars a year.
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Old 09-06-2020, 01:24 PM
 
Location: Sputnik Planitia
7,624 posts, read 10,920,616 times
Reputation: 8749
Quote:
Originally Posted by lchoro View Post
A chef can make 60 to 100 thousand dollars a year.
So, no emergency fund making $60-100k/yr? And one cannot afford a $581 car payment making $60k/yr living in an area where rents are $2,650.

In addition, one cannot live on $60k/yr in LA raising 2 kids and living in a nice area and driving a nice car. Looks like this woman isn't too good at basic math.
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Old 09-06-2020, 03:25 PM
 
516 posts, read 314,223 times
Reputation: 422
I always fight with my wife...about "be ready for a rainy day"...."be ready for darker times"......she says, "nah, don't worry, live life"..........I never ever expected a pandemic nor did I ever expect a shutdown...but we always would plan for 2 years of no work....pandemic hit, she did get to sit at home for one week on/one week off from work PAID...not me, I had to work through it...lesson from us, have everything paid off, do not live on credit, do not not carry a needless mortgage if you don't have to....even though we were still going to work...we still changed our habits when the pandemic hit to make sure we are ready in case things get even worse.

Not sure what to feel for the woman...but people need to be ready.
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Old 09-06-2020, 03:39 PM
 
5,778 posts, read 3,905,600 times
Reputation: 13034
Quote:
Originally Posted by k374 View Post
So, no emergency fund making $60-100k/yr? And one cannot afford a $581 car payment making $60k/yr living in an area where rents are $2,650.

In addition, one cannot live on $60k/yr in LA raising 2 kids and living in a nice area and driving a nice car. Looks like this woman isn't too good at basic math.
The article mentions that she was a victim of physical abuse by her husband and she’s in divorce proceedings. All of his financial support stopped this January. It’s more of a situation with a jarring change in means/finances than it probably is about her not doing basic math.
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Old 09-06-2020, 03:47 PM
 
8,173 posts, read 3,158,197 times
Reputation: 5751
These extremes exist, but are not the norm. We should recognize that there's a very small number of people who are completely careless in regards to their finances.

That being said, this particular person is a victim of physical abuse and is going through a divorce as a result.

Last edited by TexasLawyer2000; 09-06-2020 at 04:02 PM..
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Old 09-06-2020, 03:51 PM
 
Location: Boston
18,636 posts, read 7,191,066 times
Reputation: 16186
she made a lot of mistakes in her life. Sorry.
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Old 09-06-2020, 04:04 PM
 
12,026 posts, read 10,649,604 times
Reputation: 11113
Quote:
Originally Posted by k374 View Post
So, no emergency fund making $60-100k/yr? And one cannot afford a $581 car payment making $60k/yr living in an area where rents are $2,650.

In addition, one cannot live on $60k/yr in LA raising 2 kids and living in a nice area and driving a nice car. Looks like this woman isn't too good at basic math.
She is also an independent contractor as are many workers in restaurants. She is going to pay both ends of the payroll tax, health insurance for a family, day care for two kids, and so on. She has no protection since PPP only covers employees.

As someone pointed out, she had an abrupt change in her circumstances.

This is poor example of individual responsibility since this was recently a family. Women do get fooled by some men.
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Old 09-06-2020, 05:57 PM
 
Location: Wisconsin
19,481 posts, read 23,266,685 times
Reputation: 50991
Quote:
Originally Posted by Thatsright19 View Post
The article mentions that she was a victim of physical abuse by her husband and she’s in divorce proceedings. All of his financial support stopped this January. It’s more of a situation with a jarring change in means/finances than it probably is about her not doing basic math.
I agree.

So many people are criticizing the mother. Where are the nasty comments about the deadbeat father who hasn't paid any child support for the last seven months? Doesn't the boy's father care that his children are going hungry?
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Old 09-06-2020, 06:03 PM
 
17,500 posts, read 24,294,173 times
Reputation: 19305
We live in a culture of "live once, live to the most", with zero money management and savings idea, taught to young people for generations. Good for businesses, bad for making it work, when SHTF. Why are you even surprised? Living by debt was norm for how long? Even very smart minds simply can't fathom debtless life anymore.
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