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You didn't say how old you were or what type of work you did for what kind of money --- sooo, it's difficult to guess whether the problem is excessive spending, inadequate income or chronic 'grasshopper living'; all of which require different solutions. --- One thing that worked for us over the years was to live within our means -- then, whenever we got raises or a windfall, used that as our savings ... while continuing to live 'within our means.' - Many people get into financial trouble early and then stay there throughout their lives, .. because they equate increased earnings, with an automatic need to spend more.
OK I will restart this thread. Most has been said here and on other like kind threads, its always about money. As well as it should be when planing for retirement. The problem all the way around boils down to one thing. You do not have enough money coming in. You have a poor cash flow. Regardless , rich or poor they are closer to being the same as those in the Middle class are not.
If you are ' wealthy" most likely you have plenty of cash coming in, your debt ratio is always better once you sort out the things you have over spent on. Example, I have a friend who has, for many years not had to worry about income, it was always there, lots of it. Consequentially this person spent big, often, and bought lots of toys.Many times that big monthly check was not enough to keep up with the spending. There were lots of credit cards, he used one card to pay off another, picking and choosing with interest rates fluctuation.It became a game, he had fun playing with the banks money when ever he could. he has lived this way for many years, even now into retirement.His credit is top notch, and if necessary could pay off most of the personal debt anytime. The moral, there was cash flow.
The "poor" person, ( I know of them too ) had close to the same worries and cures. If you have no money, you can't run up much debt, you have no credit to get you into trouble. Often you are accustomed to living with less, often not even having the desires to spend big on toys, the "taste" is not there.
Now, here comes the rub, the middle class , both upper and lower, we all suffer from the same thing; Not enough cash flow, just as plain as not enough money. Most of the people fit this category, one reason that its the middle class that drives the economy. The reason there, is they spend and spend, all their lives, to support themselves, family , and more often than not can not resist that desire to go hog wild once in a while, they have tasted the feeling of "shopping", are addicted,will always live month to month, on the edge, all there lives. For most, saving for retirement becomes impossible considering at the end of the pay period they always come up a mile shy of being able to pay their debt obligations......again, its all about income, not enough money !
Checking the "Find all posts by _______" feature, I note that the second and final post by this OP on City-Data was the one upthread which is over three years old. He is gone, and there is no point in continuing to speak to him.
Checking the "Find all posts by _______" feature, I note that the second and final post by this OP on City-Data was the one upthread which is over three years old. He is gone, and there is no point in continuing to speak to him.
This topic does not need the OP The questions are universal, timely and can be helpful to those that travel these topics.
Checking the "Find all posts by _______" feature, I note that the second and final post by this OP on City-Data was the one upthread which is over three years old. He is gone, and there is no point in continuing to speak to him.
guess being continually out of money caught up with him.
Ha - I always saved and invested first. Had a nagging pit in my stomach if I didn't try my best each year to max out tax-deferred IRAs and 401k - particularly the last 20 years of my working life. Those years go all too fast. Might also have something to do with where I live, as well. The sun does not always shine and the weather is not always nice in WI. So, I knew the day of reckoning (winter) would come. I'd rather have money in the bank, than new wallpaper on my walls.
Peace of mind today is worth it.
Did my share of foolish spending as evidenced by clothes and jewelry and furs I now never wear anymore, but never got myself into credit card trouble by overspending, either. Although the jewelry is worth something these days because I was buying when gold was $300 oz. Never a six-figure earner, but also never a minimum wage worker, either. Never really started spending money until I got to my mid-50's because I got fed up with being so frugal - which is why I've now got too much stuff. Wish I hadn't done that, just because of the clutter which I don't have the energy or mindset to clear out. Don't know where to go with it.
Anyway, I always knew what I had coming in and what needed to go out - if not now, six months from now. Guess that comes, too, from being female and going it alone. It's called survival.
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Sorry, but the OP is no longer around.
you go girl!
