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Old 03-11-2017, 07:53 PM
 
Location: Mid-Atlantic
22,710 posts, read 21,760,954 times
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Quote:
Originally Posted by MarciaMarshaMarcia View Post
I grew up in a "low income neighborhood". I don't recommend it as a chosen lifestyle.
I grew up there. There was some seriously weird stuff going on. All of our neighbors were "different." I don't recommend it if you have kids, but I survived--and learned everything about lice, bedbugs, alcoholism, welfare, and various levels of crime that I ever need to know. The half blind, one armed woman who lived in the alley didn't seem to receive much help. Neither did the cross eyed kid with the club foot who lived across the street.

Been there. Done that.
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Old 03-13-2017, 07:43 AM
 
Location: Bella Vista, Ark
69,297 posts, read 79,469,982 times
Reputation: 38656
Quote:
Originally Posted by Gerania View Post
I grew up there. There was some seriously weird stuff going on. All of our neighbors were "different." I don't recommend it if you have kids, but I survived--and learned everything about lice, bedbugs, alcoholism, welfare, and various levels of crime that I ever need to know. The half blind, one armed woman who lived in the alley didn't seem to receive much help. Neither did the cross eyed kid with the club foot who lived across the street.

Been there. Done that.
I don't recommend anyone live totally above their means; sometimes it is necessary to live in an area you would rather not and some people do choose to sacrafice to live in a more expensive region, but what I can not understand is someone who can afford to live in one neighborhood and choose to live in one way below their means. living above ones means if you have kids can actually hurt the kids because they can not keep up with their firiends, living below your means can also be damaging to your family.
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Old 03-13-2017, 05:20 PM
 
Location: Germantown, Philadelphia
3,661 posts, read 1,770,490 times
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Quote:
Originally Posted by nmnita View Post
I don't recommend anyone live totally above their means; sometimes it is necessary to live in an area you would rather not and some people do choose to sacrafice to live in a more expensive region, but what I can not understand is someone who can afford to live in one neighborhood and choose to live in one way below their means. living above ones means if you have kids can actually hurt the kids because they can not keep up with their firiends, living below your means can also be damaging to your family.
The Motley Fool, i think, would disagree.

The popular investment and financial-advice website has several discussion forums for members, one of the busiest of which is titled "Living Below Your Means."

Amy Daczyczyn, publisher of The Tightwad Gazette, might also beg to differ.

Now, mind you, the sort of frugality that she promotes and that the participants on the LBYM board on the Fool embrace doesn't extend to living in a worse neighborhood than you can afford simply to save money - or at least I don't think they've discussed it on the LBYM Fool board. But they do believe that not spending it when you don't have to is a virtue - and I think the kids would benefit from those sorts of money management lessons.
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Old 03-15-2017, 12:35 AM
 
Location: trapped in the body of a dying animal
3,174 posts, read 1,349,153 times
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Quote:
Originally Posted by Curious Investor View Post
I am not being politically correct in the following statement, but I believe it is true:

The trouble with saving money in housing and going to a low cost apartment or home is you have to live with poor people.

I believe on an individual basis many low income (poor) people are good. But I have learned from experience that if you live in an apartment complex with very low rents there is more trouble. Noise, poor maintenance, crime, poor customer service, police activity, etc.

When I tried to live a frugal life, my first thing I saved money on was my home. Because housing was forty percent of my expenses. I learned the hard way that trying to be frugal in the place I lived was a recipe for disaster.
Every situation is different of course. But when I was living on my own for the first time, I lived with roommates- basically in the cheapest places we could find.

It wasn't ALL bad. There were always people to party with... and no shortage of available weed and alcohol.

But pretty quickly I got tired of the nasty, violent neighbors. Petty theft. Cops showing up for various reasons. Loud drunks making noise when I was trying to sleep. Petty, dishonest landlords. Constant problems with plumbing, wiring, and air conditioning.

Etc.

Etc.

As soon as I could afford it, I got my own place. And before I rented it, I spent a few Friday and Saturday nights in the area to make sure it was quiet.

So I'm not saying I *wouldn't* seek out a cheap place to live in the right situation. But I'd be very careful about it. Peace and quiet is worth a lot.
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Old 03-15-2017, 04:33 PM
 
3,448 posts, read 1,494,034 times
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Depends on more than low cost. Low cost can be crime ridden or it could be seniors on fixed income. I would move to one and not the other.
What's the point of saving a few dollars only to be a prisoner or in fear?
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Old 03-15-2017, 04:43 PM
 
Location: SC
8,382 posts, read 5,027,225 times
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Urban Pioneering!

When I was in my twenties, there was a neighborhood that was close to center city Philadelphia.

I solicited my family and all my friends, I was trying to get them to come in with me on a neighborhood where you could buy a three story houses that were structurally fine for about $500. I wanted to have enough people buy in that we could control a block, rehab it, get increased police patrols because it was an increasing tax base - basically gentrification but with all friends and family. Then as others bought into the area, all property values would rise.

Nobody thought it was a good idea. Those same houses are worth hundreds of thousands now.
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Old 03-15-2017, 04:58 PM
 
3,448 posts, read 1,494,034 times
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Quote:
Originally Posted by blktoptrvl View Post
Urban Pioneering!

When I was in my twenties, there was a neighborhood that was close to center city Philadelphia.

I solicited my family and all my friends, I was trying to get them to come in with me on a neighborhood where you could buy a three story houses that were structurally fine for about $500. I wanted to have enough people buy in that we could control a block, rehab it, get increased police patrols because it was an increasing tax base - basically gentrification but with all friends and family. Then as others bought into the area, all property values would rise.

Nobody thought it was a good idea. Those same houses are worth hundreds of thousands now.
I think it's different when you're young. I didn't care about stuff like I do now. I lived near drug dealers, sex workers, petty thieves. I was cool with them all. I'm more paranoid now. Though I probably wouldn't care about a pot dealer or discreet escort service in my neighborhood. They don't usually bring violence or crime the same way harder drugs do.
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Old 03-15-2017, 05:37 PM
 
Location: Forests of Maine
29,723 posts, read 47,495,927 times
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Quote:
Originally Posted by hellob View Post
I think it's different when you're young. I didn't care about stuff like I do now. I lived near drug dealers, sex workers, petty thieves. I was cool with them all. I'm more paranoid now. Though I probably wouldn't care about a pot dealer or discreet escort service in my neighborhood. They don't usually bring violence or crime the same way harder drugs do.
Again that does not sound like low-income to me, that sounds like urban to me.

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Old 03-15-2017, 06:01 PM
 
3,448 posts, read 1,494,034 times
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Quote:
Originally Posted by Submariner View Post
Again that does not sound like low-income to me, that sounds like urban to me.

True enough. I was just thinking that the general connotation to many people is low income means crime/illegal stuff/danger. It didn't bother me when I was young.
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Old 03-17-2017, 12:30 AM
 
13,710 posts, read 22,832,449 times
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Quote:
Originally Posted by hellob View Post
I think it's different when you're young. I didn't care about stuff like I do now. I lived near drug dealers, sex workers, petty thieves. I was cool with them all. I'm more paranoid now. Though I probably wouldn't care about a pot dealer or discreet escort service in my neighborhood. They don't usually bring violence or crime the same way harder drugs do.


All that is fine until the pimp pulls out a hammer to one of his "girls". Or when the dealer next door decides to shaft a customer and the customer comes back with a gun.
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