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Old 08-10-2008, 01:51 PM
 
Location: Tennessee
4,739 posts, read 7,821,265 times
Reputation: 2961

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I'm old school and have a tough time understanding people that want the benefits I enjoy with out paying the price. If you have a brain you can do simple math and discount the housing crisis. Everyone has seen the Porsche parked in front of a mobile home, and the Chevette parked in front of the $500,000 home, wanting to achieve what others have on a budget, it doest work, never has. Being realistic and honest with oneself does. If you are not capable of living the lifestyle, hey there is nothing wrong with that. Let your friends bite the bullet. With any investing you have to be able to absorb the loss should it go sour. I spend in excess of $20,000 a year on vacations, its set aside for that purpose. Some spend more, some not. Its my choice and its not missed. The average wage outside of DC is somewhere around $65,000 a year for a family, this is not upper middle class...its average and thats all. If your smart you get to watch the Uhauls come and go and remain unaffected. If not you whine on here. Oh well right. I believe some people think better to have lived than to not have lived at all. The loser mentality is so sad. When public servants are retiring on $80,000 a year in larger cities it makes me wonder what people are doing with their lives to end up so poor.
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Old 08-10-2008, 08:33 PM
 
947 posts, read 2,933,541 times
Reputation: 729
I kind of see where you are going -

I'm o.k. in this economy but it's because I'm frugal. Not poor but frugal. Buy what we can afford, and always try to save first. Not interested in what the neighbors have nor do I care what the latest thing is.

What I'm reading more now is people complaining that they don't teach personal finance in schools. I was taught reading, writing and math among other things in high school. What else does a person need to know to make it in this world?

With reading you can get a book on how to manage your personal finances if you don't know how. With writing you can get on the internet and do a search on budgeting if you don't know how. With math you can add and subtract, create a budget to see what you can afford.

Why is that suddenly not enough to keep people from signing onto mortgages, car loans and student loans that they can't afford to pay? Where is the personal responsibility?

Whatever happened to people taking ownership for their lives and the choices they make instead of finding a way to pass the blame onto others ~ Or complaining it was not taught in school.
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Old 08-11-2008, 07:43 AM
 
5,033 posts, read 4,762,758 times
Reputation: 3101
Its called common sense. And not that many people have it.

In my opinion, we need to go back to go forward. We need to go back to having respect for one another, to only buying things when they are either broken, or when we can afford them. We need to take responsibility for our actions, we need to educate our younger generation that there is a consequence for every action and that we cannot be bailed out by others all the time.

Yes, I am old fashioned and I am trying to pass this onto my children but its an ongoing battle.

d
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Old 08-11-2008, 08:17 AM
 
Location: western East Roman Empire
8,126 posts, read 11,935,585 times
Reputation: 8233
Another way of saying the same thing, a steadfast rule of thumb is to live below one's means, save and invest, the rules that made the US an industrial power.

We have broken the rules and now the US is a consumer debtor.

Yes, go back to the steadfast rules to go forward again.

As it stands, however, corrupt men risk forever corrupting what are otherwise still perfectly good institutions.

Too bad it is prohibited to preach this message on television.

Spend, spend, spend is the mantra!
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Old 08-13-2008, 10:16 AM
 
Location: Wherabouts Unknown!
7,806 posts, read 17,619,386 times
Reputation: 9435
bale002 wrote: a steadfast rule of thumb is to live below one's means, save and invest

Living below ones means is a good rule of thumb, but as long as interest rates are so low, saving and investing are risky schemes. Where can you park your money SAFELY and earn enough interest to even keep up with inflation*? And where does one INVEST their money in SAFETY and earn enough interest to keep up with inflation*? Most of the people I know have watched the value of their 401K & IRA investments erode on an almost daily basis.

In the back of peoples minds there's a thought that goes something like this. I better spend it today becasue it'll be worth less tomorrow. Unfortunately there is a great deal of truth to that line of thought.

* I'm not referring to official governemt inflation but the real inflation that includes the things we actually buy like food and energy which take up huge chunks of our paychecks.
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Old 08-13-2008, 10:44 AM
 
Location: New York City
1,836 posts, read 2,982,431 times
Reputation: 378
I'm hispanic, grew up dirt poor in east new york, brooklyn (NY), single mom family, no college degree, had two children (out of wedlock) very young, smoked pot from 14 yrs old to about 23-23 (when i started trippin out). I'm now 40!

With that said, and notwithstanding the many mistakes i've made in my life, i found and learned from watching others succeed, even when they didnt know I was watching them!

At 25 i pooled together some money with my mom and brother. My mom was on welfare and got back a few bucks in her tax return. my older brother had a city job and good credit NO SAVINGS. I scrimped and saved what I could. With that we BOUGHT A HOUSE and made it out the hood. That was around 1994. The value has skyrocketed since then (even taking into account todays market). After that I purchased a vacant lot and turned it into a parking lot for extra income. Still there to this day. Land has NO mortgage. House is paid down to about 65K. IN all this time i grunted working a 9 to 6 and then some. Saved saved and saved, and dumped into my 401K. I took a small loan out from my 401K for a down payment last month and bought a 2 bedroom coop in a luxery bldg in Kew Gardens, NY (which i got at a great downmarket price!). I drive a USED car, dress bummy most of the time (i'm not the flashy type) and my son is now in College. My daughter lives with me because I am her rock and her mom is like "THEM" from my past.

I did all of this on a starting salary of 35K (living at home) to now making about 70K (in my new coop!) in freakin NYC! Money is tight but i love my life right now and with my girlfriends income we make about 113K. We plan on being married within the next couple of years. I'm now in the process of getting to the next level which is building more disposable income so i can vacation, buy a nicer car, etc...

Whats my point? It's that i'm sick and tired of hearing people complain over and over again that they are not getting anywhere in life! Most of the time they are complaining to me while they sit on their butts! Even worse is hearing people with college degrees and a more favorable upbringing/privileged life complaining! yet they are driving around in nice cars and wearing expensive clothes/jewelry.

by the way, i recently rewarded myself (and my daughter) by purchasing a 42" LCD tv! BUT i sold off a few items that i didnt need in order to mitigate the cost! ha!
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Old 08-13-2008, 12:00 PM
 
Location: The Great State of Texas, Finally!
5,383 posts, read 11,277,849 times
Reputation: 2544
Well, I don't know about you, but I"m not smiling in today's economy when the responsible people who plan, budget, work hard, don't live beyond their means and claim consumerism as their hobby are the ones straddled with the cost and burden of bailing out all the kids who were gobbling up the cookie jars.

That to me is a pretty sad testament of where we stand as a society and a nation.

Suffer consequences for your actions and learn. THere was never anyone to bail me out for bad decisons, nor did I expect them to.

Parents need to pull their heads out of their a$$es to and stop expecting schools and govt to raise their children. I was taught finance at home, through example. Then again, the parents are too busy gobbling up the newest gadget, the bigger thingy, whatever that is, and letting their kids have credit cards to buy the next blackberry, blueberry, whatever.....So there's the example.

And it doesn't help that there are no consequences or personal responsiblity in so many other areas of life: law/crime, politicians, etc. It's all about excuses, blame shifting and poor me victimization. Frankly, I'm tired of it.
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Old 08-13-2008, 12:25 PM
 
Location: Wherabouts Unknown!
7,806 posts, read 17,619,386 times
Reputation: 9435
Default ALWAYS vote for a write in candidate.

cobolt wrote:
Frankly, I'm tired of it.
Me too, and here's one thing we can do about it. Realize that we have only ourselves to blame. Year after year, we elect politicians who cave in to the special interests who bought their elections, and go against the wishes of we the people. Starting with the upcoming election, let's us NEVER again vote for ANY candidate on the ballot ( you know you're gonna get screwed by either one of them ). ALWAYS vote for a write in candidate. If we all follwed this simple act, the special interests would lose power quickly and we could take back our country.
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Old 08-13-2008, 02:43 PM
 
Location: The Great State of Texas, Finally!
5,383 posts, read 11,277,849 times
Reputation: 2544
I honestly don't think it matters what candidate one votes for. I think even a write-in vote wouldn't change anything.
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Old 08-13-2008, 03:07 PM
 
Location: Wherabouts Unknown!
7,806 posts, read 17,619,386 times
Reputation: 9435
  • It would send a powerful message that we won't vote for the candidates that are being stuffed down our throats by the DNC and the RNC
  • It would send a powerful message that we have choices beyond the lesser of two evils
  • It would make us feel like we're not feebly taking the crap anymore, even if it's just a humble start
As long as we keep voting for any candidate funded by special interest groups, the economy will always be stacked against us.
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