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Perhaps this is also the result of high unemployment. People without income have a hard time putting money aside for a rainy day, since they're caught in the middle of a thunderstorm.
It seems that some folks are oblivious of the fact that people lost trillions of dollars in savings in 2008-2009 and even just as many have had to draw down on their life savings just to stay afloat. Of course the usual response and more important assumption is that everyone was "living above their means" which would imply, without basis, that based upon their past income their debt to equity ratio may have been more than manageable. But then I suppose that everyone should life like pikers and be like the all-knowing who knew that the greatest financial crisis is more than 70 years was right around the corner.
I agree 100% with that portion of your statement; but, I see folks with food stamp cards buying multiple 2-liter bottles of soda constantly at the grocery store. I gave up soda (except the occasional) more than two years ago. I can make 2-3 months worth of ice tea for the price of one 12-pack of soda.
Growing up I remember Saturdays in the summer as being the one day we could pick out one soda to drink. I still remember the way that cold can of Shasta grape or orange soda tasted on a hot July day like what we've had these couple of weeks. Back then soda was a rare treat, not a dietary staple.
exactly. i'd get no more than perhaps a dozen cokes a year as a kid, mostly in summer.
i know a number of folks [who really can't afford it] that insist on having a nice smart phone that ties them into a 2-year agreement paying $120 or more per month.
I think some here haven't lived long enough to experience what age, medical disasters, etc., can do to wipe out a life time of being frugal and saving. Every time I hear that people in this position are just lazy, and if they only followed the formula and saved, they wouldn't find themselves in this position now, just makes me shake my head in bewilderment. It's not the debt ceiling crisis that is killing us, it's this utter lack of concern for other fellow Americans, that will be our undoing. Some posts here reek of disdain for those who have fallen on really hard times, so try to remember but for the grace of God go I. You too may find yourself there someday.
So what should American's do differently in your opinion?
I think some here haven't lived long enough to experience what age, medical disasters, etc., can do to wipe out a life time of being frugal and saving. Every time I hear that people in this position are just lazy, and if they only followed the formula and saved, they wouldn't find themselves in this position now, just makes me shake my head in bewilderment. It's not the debt ceiling crisis that is killing us, it's this utter lack of concern for other fellow Americans, that will be our undoing. Some posts here reek of disdain for those who have fallen on really hard times, so try to remember but for the grace of God go I. You too may find yourself there someday.
So what do you say to the friend of mine who has $200 in savings, but just bought a brand new iPhone for $600?
He is justified in his actions? I shake my head in bewilderment at how deep into the sand someone like you can stick their head.
I think some here haven't lived long enough to experience what age, medical disasters, etc., can do to wipe out a life time of being frugal and saving. Every time I hear that people in this position are just lazy, and if they only followed the formula and saved, they wouldn't find themselves in this position now, just makes me shake my head in bewilderment. It's not the debt ceiling crisis that is killing us, it's this utter lack of concern for other fellow Americans, that will be our undoing. Some posts here reek of disdain for those who have fallen on really hard times, so try to remember but for the grace of God go I. You too may find yourself there someday.
I agree.
However you have to keep the context in mind. Is it really likely that all of these people here, just so happen to be in fantastic fiscal health? There also seems to be a surprising abundance of "millionaires" who loiter on CD as well as "business owners" and even "doctors." All of whom seem to have the spare time to post daily with thousands of posts. This is highly unlikely, given that most people this driven have **** to do, and don't spend their days telling everybody how smart they are online.
If you believe them, then I've got a bridge to sell you. More than likely the majority of these posters pointing fingers are in the same shape as everybody else.
Quote:
Originally Posted by hnsq
So what do you say to the friend of mine who has $200 in savings, but just bought a brand new iPhone for $600?
He is justified in his actions? I shake my head in bewilderment at how deep into the sand someone like you can stick their head.
They also often rely on anecdotal evidence to back their assertions. The claims of people they "saw at the grocery store" using food stamps to buy whatever. Or "their friend" who did something they felt was stupid. It seems like many of them all seem to know welfare cheats and scammers as well. Of course nobody ever points out to them that if you are around people who are using welfare, or shopping in grocery stores where people are always using food stamps, then you are also likely lower income living in a poor area.
I had a similar conversation with a friend of mine. Essentially "How to live on a shoestring." I did when I was younger and got ahead-the concept was easy for me. However my friend pointed out (which I had obviously not thought of) that another person may not possess the intelligence to create such a plan in the first place.
That being said, I don't think these types of people account for the majority here. I think that life is hard, expensive, unpredictable and it's easy to sit behind your computer and judge others. I'd imagine most people here are in the same situation or close to it.
For my first 10 or 15 years in the workforce I could not have come up with $2000 (or the equivalent at the time). It was just economically impossible. All but maybe $20 a month out of my near minimum wage income went into existing. But then, other than a small car payment, I was not in debt. My criticism runs to those who are 40 years old, make $200,000 a year and are in severe debt. I am equally critical of those who have a household income of $40,000 annually, have three kids, and spend $150 a month on cellphones, $150 more on cable/high speed internet, and buy the latest fashion in clothes. Can these people really complain because they do not have $2000 in the bank?
However you have to keep the context in mind. Is it really likely that all of these people here, just so happen to be in fantastic fiscal health? There also seems to be a surprising abundance of "millionaires" who loiter on CD as well as "business owners" and even "doctors." All of whom seem to have the spare time to post daily with thousands of posts. This is highly unlikely, given that most people this driven have **** to do, and don't spend their days telling everybody how smart they are online.
If you believe them, then I've got a bridge to sell you. More than likely the majority of these posters pointing fingers are in the same shape as everybody else.
They also often rely on anecdotal evidence to back their assertions. The claims of people they "saw at the grocery store" using food stamps to buy whatever. Or "their friend" who did something they felt was stupid. It seems like many of them all seem to know welfare cheats and scammers as well. Of course nobody ever points out to them that if you are around people who are using welfare, or shopping in grocery stores where people are always using food stamps, then you are also likely lower income living in a poor area.
This is an extremely short-sighted post. Even those who have done well in life were once at a point in time when $2000 was hard to scrounge up. Wealth didn't just magically appear. It's called hard work, determination, skill, and a little bit of luck. You have zero place to cast judgement on those who have been successful.
Much of this can be tracked back to the sense of entitlement problem that has run rampant through our society. When people are living paycheck to paycheck, but spend $300 between cable and phone services, eat out for lunch every day and drive a new or nearly new car, they have their priorities backwards.
I make a very modest, lower-middle class income and temper my expectations accordingly. Living within our means allowed me to save up a year's worth of living expenses in the event of an emergency (and contribute to our retirement accounts). We don't have smartphones, we cancelled cable a year ago, we buy what's on sale at the grocery store rather than what we're hungry for, etc. Living frugally is largely lost on people who feel they need certain things because of envy or societal pressure.
They also often rely on anecdotal evidence to back their assertions. The claims of people they "saw at the grocery store" using food stamps to buy whatever. Or "their friend" who did something they felt was stupid. It seems like many of them all seem to know welfare cheats and scammers as well. Of course nobody ever points out to them that if you are around people who are using welfare, or shopping in grocery stores where people are always using food stamps, then you are also likely lower income living in a poor area.
I am sorry, but what are you talking about? I live in a major city right now, and every single store accepts governmental programs. You can use food stamps in Whole Foods. Cities are also very fiscally segregated. There are million dollar houses three blocks away from slums. You do also realize that central business districts in cities have all types of people, don't you? There aren't special sidewalks for the wealthy and separate sidewalks for those on welfare in downtown areas of cities.
What do you think, that those on welfare have 'special stores' that only they go to?
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