Very well qualify vs average joe rates (capitalism, mortgage, buy)
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the problem is generally events cause to much month at the end of the money as live below your means is a meaningless mantra . means can change on a dime from unexpected events .
divorce -illness-job loss are the big three changers of "MEANS " . where you live and how you live and all the expenses of that lifestyle can not be changed on a dime usually . so what very well was within your means may now have you with noooooo "MEANS "
but generally you are done in by these events because of a history of poor planning , bad choices and poor decisions prior , not spending ..
so the fact you lived below your means is not what saves you most of the time . it is when events suddenly change what your means is that gets you .
that is why i say it is not the total amount you spend that matters , it is the ratio of discretionary spending to non discretionary spending that is important .
you can very well be living below your means but if that budget is all needs and not wants too , there can be no where to cut from when your "MEANS " gets reduced
we can live here in queens nyc with a lot of discretionary spending or we could move to manhattan for the same budget . but a decision to move to manhattan would leave little discretionary spending . in the event we had to cut back because means fell it would be very difficult to cut things .
that could create an unpleasant situation where bills may not get paid .
but it would be that way because of a poor decision to live with such a high non discretionary budget , even though it was certainly within our means . so while i could blame the event that caused the reduction , the real reason was poor choices and bad decisions on my behalf leading up to that event ..
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Good points. As Mr. Money Mustache would say, the real villains in most people's financial lives are their Past Selves.
They should have the economic liberty to manage their finances as they see fit. I'm paying half my income to rent a room in an overcrowded house. Why can't government allow me to manage my finances by pitching a tent in my friend's back yard?
for the same reason no one wants their neighbor running a refugee camp next door .
It's too expensive to figure out that a borrower who takes out 10 loans and repays timely every time is a lower risk than the newbie who walks through the door for the first time???
When you live on a shoestring and have no discretionary income, all sorts of things can cause these people to borrow. "I'm going to stiff my landlord next month because that's preferable to taking out a payday loan." : smack::s mack::sm ack::sma ck::smac k::smack :: smack::s mack::sm ack::sma ck::smac k::smack :: smack:
defaults are so high in the pay day loan business , if you are in that group you pay more .
don't want to pay more ? don't be in that group . simple answer . it is an area of lending that is like insurance . the good customers pay for the bad ones . it is the only way they can stay in business . it is a different business model .
Exactly as I suspected. Failure to launch and only blaming everyone else instead of trying to better your situation.
he thinks his financial failure in life is because he has to pay rent .
others pay rent , and do very nicely .
his problem isn't the rent is to high . the problem is his income is to low and he never did anything about it . it is always one excuse after another and it is always someone else's fault he is stuck earning kiddie wages .
so instead of raising the bridge his life is about lowering the water , lowering living standards, lowering building standards and reducing zoning requirements and rewarding failure with some form of property ownership
The VAST majority of burger flippers have ZERO interest in managing other burger flippers. That was clear to me after one month of flipping burgers.
Failure to further your skills, education or responsibility = a lifetime of minimum wage jobs.
It's not high rents that is your problem, it's low income. Why should someone who refused to take a job that requires more skill or responsibility make more money than someone who has? You constantly deny that you are "entitled", yet your actions and comments define that word.
They should have the economic liberty to manage their finances as they see fit. I'm paying half my income to rent a room in an overcrowded house. Why can't government allow me to manage my finances by pitching a tent in my friend's back yard?
If you choose a living condition that consumes half of your income, it is your responsibility to manage the rest of your expenses to avoid needing to borrow.
Government has nothing to do with it, personal responsibility and accountability has everything to do with it.
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