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This kind of hurt has been happening in the private sector for quite awhile. While I feel for anyone who looses their jobs, and get quite angry when they are outsourced or given to imported workers, I don't think this situation with Federal workers is any worse. They all get equal sympathy from me.
I must have been one of the lucky ones who was taught to always pay myself first. That means when the check comes in, 10% to 25% goes into savings then is invested. I started at 10% when I was making near minimum wage then went up to 25% as soon as I started making more.
At 27 I had a major work injury that took me out of the trade I was in. I had to go to school to learn something that didn't require the physical effort of my former trade job. When I graduated college I had about $6K in student loan debt which I paid off in just under 2 years. I worked while in college, still paying myself first. During the summer I still took a couple classes and worked 2 jobs, one delivering pizzas and the other was opening my own company, mowing and trimming lawns. Then after graduating I started making better money than I had in quite a while but stuck to paying myself 25% of what I earned.
All through that I always paid myself first.
I didn't buy a home until I could afford it when I was 37. I paid it off in a couple years. I retired at 50 and have never looked back. I will never need a handout from anyone. Do I live like a king? Nope. I live with a plan that will keep me and my wife well taken care of and will also provide a great nest egg for our 3 sons when I finally pass on, but they're already well onto the path of financial independence.
Was it easy? Nope. Did I sometimes wish I could run out and spend like I saw my friends doing? You bet I did BUT I had a plan that I wasn't going to destroy because of wants. Folks have no idea how often I had Ramen noodles with an egg, and a partial can of veggies in it for lunch and dinner. I didn't eat like that because I liked it, I did it because it was what my budget allowed. I could have bought new cars or even newer cars yet I bought 5-10 y/o beaters with 100K+ miles on them, made sure they were mechanically sound, then didn't care what they looked like. Again, it was what my budget allowed.
It takes dedication. It's called sacrifice... but IF you stick with it, it can and will pay off in spades. So no... there is no sympathy from me for the folks who keep playing the keep up with the Jones' race, spending more than they can afford and not saving for that rainy day.
ALWAYS pay yourself first before you spend a dime of what you earned.
Location: Live:Downtown Phoenix, AZ/Work:Greater Los Angeles, CA
27,606 posts, read 14,604,784 times
Reputation: 9169
Quote:
Originally Posted by CALGUY
Now, after three pages of replies. I think it is fare of me to say, many of the post were off topic.
The original post dealt with the financial irresponsibility of people out of work for one month, that have to go to food banks for food.
The reason they are out of work had nothing to do with my original post.
Hey folks, what does that say about the people who work and have to rely on these food banks?
It tells me they are so far in debt that one week, one moth without a check, and they are devastated financially.
They are all living pay check to pay check, and the reason for that is debt, living way beyond their means.
Say what you want about me, but I can't feel sorry for them.
Who in their right mind would work 40 hours a week, or longer, and miss one paycheck, and wind up in a food line?
You don't see something wrong with this picture?
In one post, someone mentioned these people were not taught how to maintain financial security early on, and that is more than evident.
I surely hope these workers in these food lines will learn from this.
Sometimes it takes a traumatic experience to turn on that light bulb in the brain.
I had a self made bad experience in 1980.
Because of my stupidity, I had to file chapter 7.
I learned after that experience to create a blanket for unknown circumstances in the future.
During, and for a short while after the bankruptcy, I was living on the street.
That grew old very fast, and so I did something about it.
I decided my days of screwing around were over.
I started small in building maintenance for a couple of property management companies, all the while going without so I could save money.
Obviously those years paid off.
Today, I own 12 rental properties, of which ten are all paid for.
I Drive a nice(not new Corvette), and at the risk of boasting, I am damn proud of myself.
When I lived on the street way back then, I would go to the local church hall for food.
My financial situation back then was very bad, because I wanted everything everyone else had, and my credit cards were a big bulge in my wallet.
As my young niece stated years ago, "you don't have to use money, just sign your name".
That was very easy to do, but the day comes when your signature doesn't mean sh....
Like many, I over extended my cards, and got into financial trouble.
I look back at my life (I turned eighty last week) and being in that same financial boat these government workers now find themselves in, they , like me, only have themselves to blame.
It bears repeating, who in God's world would work a full time job, (Some a second job) and wind up in a food line?
Something is absolutely not right.
Bob.
For the working class, living below their means would mean living in the ghetto. Most would rather live in a nice area than live in an area where they risk their safety daily just to have some savings.....
Location: Live:Downtown Phoenix, AZ/Work:Greater Los Angeles, CA
27,606 posts, read 14,604,784 times
Reputation: 9169
Quote:
Originally Posted by KS_Referee
I must have been one of the lucky ones who was taught to always pay myself first. That means when the check comes in, 10% to 25% goes into savings then is invested. I started at 10% when I was making near minimum wage then went up to 25% as soon as I started making more.
At 27 I had a major work injury that took me out of the trade I was in. I had to go to school to learn something that didn't require the physical effort of my former trade job. When I graduated college I had about $6K in student loan debt which I paid off in just under 2 years. I worked while in college, still paying myself first. During the summer I still took a couple classes and worked 2 jobs, one delivering pizzas and the other was opening my own company, mowing and trimming lawns. Then after graduating I started making better money than I had in quite a while but stuck to paying myself 25% of what I earned.
All through that I always paid myself first.
I didn't buy a home until I could afford it when I was 37. I paid it off in a couple years. I retired at 50 and have never looked back. I will never need a handout from anyone. Do I live like a king? Nope. I live with a plan that will keep me and my wife well taken care of and will also provide a great nest egg for our 3 sons when I finally pass on, but they're already well onto the path of financial independence.
Was it easy? Nope. Did I sometimes wish I could run out and spend like I saw my friends doing? You bet I did BUT I had a plan that I wasn't going to destroy because of wants. Folks have no idea how often I had Ramen noodles with an egg, and a partial can of veggies in it for lunch and dinner. I didn't eat like that because I liked it, I did it because it was what my budget allowed. I could have bought new cars or even newer cars yet I bought 5-10 y/o beaters with 100K+ miles on them, made sure they were mechanically sound, then didn't care what they looked like. Again, it was what my budget allowed.
It takes dedication. It's called sacrifice... but IF you stick with it, it can and will pay off in spades. So no... there is no sympathy from me for the folks who keep playing the keep up with the Jones' race, spending more than they can afford and not saving for that rainy day.
ALWAYS pay yourself first before you spend a dime of what you earned.
Was that 25% of your net income? You must live in an area with cheap housing. You'd have to make at least $80k/year here to save 25% and not have to live in "the hood"
I must have been one of the lucky ones who was taught to always pay myself first. That means when the check comes in, 10% to 25% goes into savings then is invested. I started at 10% when I was making near minimum wage then went up to 25% as soon as I started making more.
At 27 I had a major work injury that took me out of the trade I was in. I had to go to school to learn something that didn't require the physical effort of my former trade job. When I graduated college I had about $6K in student loan debt which I paid off in just under 2 years. I worked while in college, still paying myself first. During the summer I still took a couple classes and worked 2 jobs, one delivering pizzas and the other was opening my own company, mowing and trimming lawns. Then after graduating I started making better money than I had in quite a while but stuck to paying myself 25% of what I earned.
All through that I always paid myself first.
I didn't buy a home until I could afford it when I was 37. I paid it off in a couple years. I retired at 50 and have never looked back. I will never need a handout from anyone. Do I live like a king? Nope. I live with a plan that will keep me and my wife well taken care of and will also provide a great nest egg for our 3 sons when I finally pass on, but they're already well onto the path of financial independence.
Was it easy? Nope. Did I sometimes wish I could run out and spend like I saw my friends doing? You bet I did BUT I had a plan that I wasn't going to destroy because of wants. Folks have no idea how often I had Ramen noodles with an egg, and a partial can of veggies in it for lunch and dinner. I didn't eat like that because I liked it, I did it because it was what my budget allowed. I could have bought new cars or even newer cars yet I bought 5-10 y/o beaters with 100K+ miles on them, made sure they were mechanically sound, then didn't care what they looked like. Again, it was what my budget allowed.
It takes dedication. It's called sacrifice... but IF you stick with it, it can and will pay off in spades. So no... there is no sympathy from me for the folks who keep playing the keep up with the Jones' race, spending more than they can afford and not saving for that rainy day.
ALWAYS pay yourself first before you spend a dime of what you earned.
I love feel good stories, but your post just isn’t the reality today.
Was that 25% of your net income? You must live in an area with cheap housing. You'd have to make at least $80k/year here to save 25% and not have to live in "the hood"
I've lived in dumps in crappy neighborhoods. My 1st apartment was a 1 tiny bedroom, 1 bath, small living room and tiny kitchen apartment that had been converted from a garage. It was in a high crime neighborhood. I've lived in trailers and in the worst neighborhoods in the city I've been in before. I made my budget a priority, not an afterthought.
What you fail to understand is compound interest and investment gains on 40 years of saving and investing pays out in a big way.
Look, I'm not the only one who has done this on here, yet you, just like many other young people see the results of our sacrifices, then demand those same results without making the same sacrifices. It doesn't work like that.
BTW, when I started working an official "job" (Hardee's) at 16, minimum wage was $2.90/hr. I had already been working for myself for several years mowing lawns, thrilled when I got a great yard that took about 2 hours of hard push mowing then trimming it and was rewarded with $7 to $10 for my efforts. I started mowing lawns and shoveling snow at the ripe old age of 10.
It wasn't easy. It isn't easy but it's worth it, so quit making excuses for why you can't... because the truth is, you could IF you wanted to, you just expect the results without the effort and sacrifice.
When you lose your job, you typically get a couple weeks pay and unemployment benefits.
Plus, you have time to look for, accept, and start working at another job.
Quite different from being told you still have to work but you won't be paid.
Surprising that this is so difficult for some to comprehend.
Well, no one is holding a gun to their heads that they MUST stay working for the Govt (without pay), they are free to go elsewhere for a job anytime they like.
If my employer told me I had to work without pay...I would just find another job and not bother going back to the old job.
Location: Live:Downtown Phoenix, AZ/Work:Greater Los Angeles, CA
27,606 posts, read 14,604,784 times
Reputation: 9169
Quote:
Originally Posted by KS_Referee
I've lived in dumps in crappy neighborhoods. My 1st apartment was a 1 tiny bedroom, 1 bath, small living room and tiny kitchen apartment that had been converted from a garage. It was in a high crime neighborhood. I've lived in trailers and in the worst neighborhoods in the city I've been in before. I made my budget a priority, not an afterthought.
What you fail to understand is compound interest and investment gains on 40 years of saving and investing pays out in a big way.
Look, I'm not the only one who has done this on here, yet you, just like many other young people see the results of our sacrifices, then demand those same results without making the same sacrifices. It doesn't work like that.
BTW, when I started working an official "job" (Hardee's) at 16, minimum wage was $2.90/hr. I had already been working for myself for several years mowing lawns, thrilled when I got a great yard that took about 2 hours of hard push mowing then trimming it and was rewarded with $7 to $10 for my efforts. I started mowing lawns and shoveling snow at the ripe old age of 10.
It wasn't easy. It isn't easy but it's worth it, so quit making excuses for why you can't... because the truth is, you could IF you wanted to, you just expect the results without the effort and sacrifice.
I suspected as much. No thanks. I'll stay in my safe neighborhood where I don't have to worry about getting shot, stabbed or carjacked and not save 25% of my income. Especially considering my fiance would probably leave me if I tried.....
The shutdown is causing many government employees to seek other means for food, and other necessities.
I was watching a news clip a few minutes ago, and it caused me to stop and think, "something is really wrong in this country, and it goes much deeper than a government shutdown."
Why in a country so assuredly prosperous, would anyone who has gone without one week, or month's pay, need to get in a line for food handouts?
This is crazy.
What are these workers doing with their money?
Is it a case of not making enough money to sustain themselves, or is it most of them have overextended their financial abilities?
I would believe it is probably both.
I think it safe to say government workers are not working for minimum wage.
The problem can not be totally laid on the shutdown.
Why are these people not putting some funds aside as a cushion for events like shutdowns, or work stoppages?
Why does everyone feel they need to be in a new vehicle, max out their credit cards to just impress everyone else with their possessions?
These things drastically reduce the ability to put something aside for a rainy day.
During the Christmas shopping time, it was estimated over three billion dollars was spent on Christmas shopping.
Is it all that important to spend billion of dollars people do not have , just to make some other person feel good, about a gift that undoubtedly will keep the giver as a financial hostage to the banks, and credit card companies for an extended period of time?
Everyone, including these government workers need to assess their financial positions, and alter their thinking as it pertains to financial security.
There should be no need for government workers(or for that matter, most workers) to be relying on food lines by missing one payroll check.
This is absolutely absurd.
I have said it many times over the years, and in fact wrote a letter to President Reagan,years ago,regarding the free wielding of credit in this country.
I said then it was a recipe for disaster, and it is proving to be just that.
People are living way beyond their means, and presently it is like a disease that will never be cured.
Unfortunately these government workers are a true symbol of the problem, not a cure.
It is not the shutdown, it is something much, much worse, and one day it needs to be addressed.
Just a short note here that actually does a fair job of explaining the problem.
I remember years ago, one of my nieces (she was about five, or six at the time) was shopping with me, and my mother.
When my mother dug inside her pocketbook to pay cash for an item she was buying, the little niece told her(and I remember the words exactly) "gramma, you don't have to use money, just sign your name".
The niece was use to shopping with her mother, who always paid with a credit card for everything, and just signed her name.
This my friends is why many are in food lines today, because the financial institutions have made it extremely easy for people to live beyond their means.
Many, including me, are able to meet their financial obligations due to a couple of things.
One being a good income, and two, the ability to set some money aside for a rainy day.
Unfortunately for many others, this is not the case, and they are being strangled by credit card debt.
I would bet the farm, many, if not all of the these furloughed, government workers, have outstanding credit debt.
It appears from the news clip I saw, people are deciding between paying bills, and eating.
In this country that is absolutely preposterous.
The shutdown didn't help, but it is not, I repeat, not the true cause of the food lines we are seeing on the news.
The problem is a lot deeper than furloughed workers.
Bob.
Hey like Trumps advisors said- “let them eat cake”.
I love feel good stories, but your post just isn’t the reality today.
Dave Ramsey typically has one or two people call in per show, getting to yell, "I'm debt free!"
Not only can it be done, it is being done all across this nation by people willing to sacrifice, paying themselves first. For those in debt it requires they first get out of debt. Then after they realize just how much they've wasted on wants, not living within a budget, they can start saving a lot of what they earn. I encourage you to find Dave Ramsey online at: https://www.daveramsey.com/ I was doing this long before he ever had a show because my parents taught me the importance of saving and always paying myself first.
I had Ramen noodles as a main staple. Dave Ramsey calls it, "Beans and rice." Either way, it's simply sacrifice.
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