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I don't care how much money I had, I would NEVER waste $6.-$10 at Starbucks everyday, like I see a lot of people doing.
Just because YOU consider it a "waste" does not mean that it IS a waste.
True - I would never dump $5 on a cup of coffee - but that's just me - other people enjoy it. On the flip side, I don't like cheap beer - I'm sure some people would consider what I pay for a good craft beer to be expensive. To each their own.
Quote:
Originally Posted by gentlearts
I don't even like the taste of their coffee.
Personally, I can't stand the taste of their burnt coffee either. My understanding is that they double roast it specifically because it will mix better in all of those latte, mocha whatevers - maybe it does, but I prefer plain ol black coffee.
OMG -- can SOMEBODY please get this person to see that what is well affordable at 90K, that is not affordable on making 50K has NOTHING TO DO WITH buying too much house!..or what the average or median income in America is...or what most people should be able to live on.
IF you're struggling to pay for everything at 90K THEN you bought to much house. But just because you can't afford a 40-50 percent pay cut doesn't mean you bought to much house.
What about this is soooo hard to grasp.
It would be too much house for 50K -- but you didn't buy it making 50K you bought it when you made 90K, and at 90K you well were able to pay for all your bills, save in 401K and IRAs, etc.
Not being able to take a 40- or 50 percent pay cut doesn't mean you weren't 'frugal or lived beyond your 90K means...or that you bought too much house.
You can buy a $100K house at $90K or you can also buy a $250 house at $90K. The person who bought it it for $100K is living well below his/her means in this example.
If you are struggling to pay your bills at $90K then you bought too much house. This person should have taken the paycut into consideration before buying the house at $90K income though. He/she should still be able to pay all bills even if the person goes unemployed.
Quote:
Originally Posted by selhars
OMG -- can SOMEBODY please get this person to see that what is well affordable at 90K, that is not affordable on making 50K has NOTHING TO DO WITH buying too much house!..or what the average or median income in America is...or what most people should be able to live on.
IF you're struggling to pay for everything at 90K THEN you bought to much house. But just because you can't afford a 40-50 percent pay cut doesn't mean you bought to much house.
What about this is soooo hard to grasp.
It would be too much house for 50K -- but you didn't buy it making 50K you bought it when you made 90K, and at 90K you well were able to pay for all your bills, save in 401K and IRAs, etc.
Not being able to take a 40- or 50 percent pay cut doesn't mean you weren't 'frugal or lived beyond your 90K means...or that you bought too much house.
OMG -- can SOMEBODY please get this person to see that what is well affordable at 90K, that is not affordable on making 50K has NOTHING TO DO WITH buying too much house!..or what the average or median income in America is...or what most people should be able to live on.
IF you're struggling to pay for everything at 90K THEN you bought to much house. But just because you can't afford a 40-50 percent pay cut doesn't mean you bought to much house.
The issue isn't just the house, it is everything in life. I know in some areas of the country, $50K isn't much at all. Here in the mid west (Indy area), $50K for an individual won't make you rich, but you will make enough to own a reliable car, save money while you rent, and eventually be able to buy a decent home. You can pretty much find any kind of shelter/home in the Indy metro area for $150K.
The problem is that when folks make $90K/year, some will upgrade the vehicle, upgrade from one 30" HDTV to 50" HDTVs in every room of the home, max out the cable TV package, spend more on vacations, etc.. Unfortunately, most folks play the pay on a car for five or more years game or the pay for a home for 15 to 30 years game and never focus on debt reduction. Some may or may not save for retirement.
If your struggling in Indy on $50K because you used to make $90K, then you likely lived too high on the hog. You likely didn't pay down debt on your home and in this economy are likely underwater. You likely purchased $3,000+ luxury options on your vehicles, instead of saving that money for a rainy day. I see examples of this time and time again. If you are making a decent living wage in an area, but are struggling because you make $40K less than in years past, then money management wasn't there. Hopefully this downturn in the economy will cause folks who are still making good money to seriously reconsider their current level of living.
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