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Old Yesterday, 12:50 PM
 
Location: Florida
63,371 posts, read 34,537,694 times
Reputation: 10565

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Quote:
Originally Posted by Eeyore1954 View Post
They are not going into debt to stay in the middle class. They (I should include myself) are going into debt to get things they think are necessary for a middle class lifestyle.
Things like a car, college, houses and medical care?

Which would you trim off first?

If you cannot afford those things, then are you still in middle class according to 1st world standards?
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Old Yesterday, 12:50 PM
 
3,043 posts, read 1,231,956 times
Reputation: 1963
Quote:
Originally Posted by chucksnee View Post
Did you read, much less comprehend the link you posted? This goes back decades (by your own link).....not since trump became our president....


Keep up the hate....
And here I thought keeping up with the Jones was anew phrase invented because of the evil Trump.
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Old Yesterday, 12:52 PM
 
Location: Florida
63,371 posts, read 34,537,694 times
Reputation: 10565
Quote:
Originally Posted by uggabugga View Post
nothing in the article about higher cost of living boosted by trade wars.

try again?
Your agreement is not required. I am ok with you believing trade wars do not increase consumer prices.
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Old Yesterday, 12:52 PM
 
7,035 posts, read 2,565,355 times
Reputation: 3846
In every single example story in that article, poor decision making abounds.

The first couple has $50k in credit card debt, including $7500 of debt on a store card (TJ Maxx)? That's BAD decision making right there, and the economy has nothing to do with it.

The second couple has $88k in student loan debt, but only grosses $155k, in Seattle. Middle class in Seattle is north of $200k in a cheap neighborhood. I'd love to know how at 34 each, they have spent 12 years out of college and that is their combined income in that city. Guarantee I find bad decision making if I knew more. First one right off the bat is living in any of the west coast's major population centers, where real estate developers with political friends and enviro-nuts have made the cost of housing absurd. If you have Joe Average jobs after 12 years out of school that put you $90k in the hole, Seattle is not the town for you.

Third couple is lulz, pure and simple. They take a 30% paycut in total gross and THEN decide to finance $48k worth of car loans. Then other jobs "din't work out" and well blah blah.

Every one of these stories is no reflection on the economy, but the economic reality of where bad decisions lead people. If there is anything that is a struggle these days, it is the concept of delayed gratification.
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Old Yesterday, 12:53 PM
 
Location: Florida
63,371 posts, read 34,537,694 times
Reputation: 10565
Quote:
Originally Posted by Eeyore1954 View Post
And here I thought keeping up with the Jones was anew phrase invented because of the evil Trump.
If you can't keep up with the middle class standard of living, then are you still middle class?
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Old Yesterday, 12:56 PM
 
3,043 posts, read 1,231,956 times
Reputation: 1963
Quote:
Originally Posted by Finn_Jarber View Post
Things like a car, college, houses and medical care?

Which would you trim off first?

If you cannot afford those things, then are you still in middle class according to 1st world standards?
What type of car, what type of house etc.


if you really believe a big chunk of consumer debt is not caused by spending on bigger TVs, new phones, more expensive clothes/accessories etc then you are not familiar with the same middle class I am.


If you can't keep up with the middle class standard of living, then are you still middle class?
Yes in my opinion it depends on the definition of a middle class lifestyle.
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Old Yesterday, 12:58 PM
 
Location: OH->FL->NJ
10,136 posts, read 8,150,717 times
Reputation: 4326
Quote:
Originally Posted by pete98146 View Post
Response was "me and my husband both have new cars and we pay $1300 per month."
1300 A MONTH!?!

Pushing to finish my 189 a month note off because I hate paying. Used and 3 years old when I got it. Was worth every nickel. Got it and 43K and now at 144K mi and I have paid nothing but wear parts. I will drive it until it literally dies. Got 188K out of my last one. Went to 180K with very few problems but by 188K it was falling apart and 14 years old.
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Old Yesterday, 01:01 PM
 
7,035 posts, read 2,565,355 times
Reputation: 3846
Quote:
Originally Posted by Finn_Jarber View Post
If you can't keep up with the middle class standard of living, then are you still middle class?
The middle class standard of living is a relative term that changes daily and differs WILDLY from location to location.

Most of the laments come from the major cities, almost always the liberal enclave ones specifically, where the price of housing went berserk long before Trump was President and wage growth couldn't keep up under any profitability model, so the middle class flees to the suburbs and outskirts.

Nobody "deserves" anything. We each have that which we earn/keep via our choices and behaviors.
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Old Yesterday, 01:03 PM
 
Location: Texas or Cascais, Portugal
3,445 posts, read 3,205,946 times
Reputation: 8349
Quote:
Originally Posted by WiseManOnceSaid View Post
There's a solution to this. Stop buying things you can't afford and start paying cash for things you can afford. You then, in turn, will be out of debt....
That is not a solution for those with extensive medical bills not covered by insurance, those who are sending kids to college while living on a budget. Yeah, a lot of folks spend irresponsibly but, there are many factors outside of our control. I supervise employees who are trying to get by on 50K a year, raising kids and they are struggling. Those of us fortunate enough to have decent incomes can easily judge others but I remember being in my 20s and 30s and scraping by for years until I made good money. Not everyone has the same opportunities.
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Old Yesterday, 01:04 PM
 
17,256 posts, read 8,737,856 times
Reputation: 9940
Daily affirmations
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