Quote:
Originally Posted by neil0311
I'm not saying that anyone did anything "wrong" but there are a few examples of people who apparently failed to plan. The article relates the stories of people who made "good incomes" and got buyout packages, but still they find themselves in a state of woe.
I have 2 years of expenses in the bank to protect my family. Plus I got an education and built up a network of people that I can lean on if things get tough. Most of the people in the article don't appear to have done any of that to be so broke that they find themselves being foreclosed upon and living in a tent.
I'm sympathetic to their stories, but for the most part they can be summed up as people who thought the good times would never end, and they made no plans for that rainy day....and now it's pouring.
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Wow, Neil, I agree.
I have no debt because I learned from my parents that life is difficult and not to waste or spend frivolously.
I learned that a small house with reasonable utility bills and nearby public transport is better than a large, utility sucking one.
I learned that the banks will tell me anything, but what is important is that I feel comfortable with what I'm spending on a house, utilities, etc.
I own two houses in an urban setting, neither cost that much and there's a lot of sweat equity in the maintenance, but I can afford that.
Like you, I have enough in liquid assets to live for a year or two.
The demand to keep uup with the Jones' was too great for people to pass up. Avarice demands a price be paid.
I don't understand why people ignore basic economics.
Do I feel sorry for them, to a point.
If they're that broke, they can probably qualify for Section 8 housing and food stamps as a stop gap.
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