Would you agree with this statement (include your financial class...lower, middle or upper class)? We are middle class.
We bought our home almost 2 years ago & have almost $200,000 in equity...sure we can pull that equity with a higher payment or lower our payment risking negative amortization. Meanwhile, we pay over $300 a month to heat our 2300 sq ft home to 68 degrees in the winter & $180 in the spring/summer without running the air conditioner (the temp upstairs is anywhere between 70-90 degrees). Our car insurance for 2 new sedans & no accidents in the past 10 years is still $800 every 6 months & we are paying $3.29 a gallon for gas. There are more rate hikes but we all know where we are being ripped off.
Meanwhile, my husband has a Bachelor's degree & we make enough to pay the bills and there is not much left over for savings. Gas & energy prices are increasing rapidly, insurance (medical & auto) are raising rates & the cost of living isn't comparable.
2006-06-11 22:06:05 · 5 answers · asked by chrissy757 5 in Politics & Government ➔ Other - Politics & Government
Are we facing another depression era?
2006-06-11 22:06:35 · update #1
Leaving within your means does not pay for college for you children.
2006-06-14 21:53:48 · update #2
It is all about costs and effects, and supply and demand. If there wasnt a high demand for it it wouldnt cost so much.
2006-06-11 22:10:54 · answer #1 · answered by firedup 6 · 0⤊ 0⤋
Let's see if we have this correct, a New 2300 sq. ft. home...TWO New cars, at least the husband has an education that affords all that...And you are talking Depression? I could understand recession which happens in cycles, but you fall under the a fool and money...Should have never gotten together in the first place.
2006-06-12 05:32:56 · answer #2 · answered by Anonymous · 0⤊ 0⤋
You are living in a Deficit-financed economy.
Each citizen is a Debtor,even the child who is born.
So much Public Debt your Government has taken.
Prices and costs will not come down.
Only the REAL value of $ or currencies will come down.
You cannot manage your homes,offices,factories etc.
the way they manage the National economies-always
begging or borrowing-always running in Deficit,always Debtors.
2006-06-12 05:23:22 · answer #3 · answered by Rashmikevali 2 · 0⤊ 0⤋
Supply and demand is indeed the answer. The bigger supply of money you have in a society, the more vendors can demand you pay for their products. Printing more money isn't the answer, strict regulation of energy costs is. But that's just dreaming...
2006-06-12 05:23:29 · answer #4 · answered by rumplesnitz 5 · 0⤊ 0⤋
If you live within your means you will have no problem getting by. Limit your Comfort Based Decisions (CBDs) to a minimum and you will have no problem.
The power of choice
Choose to adjust your premiums on your insurance (you are taking risk)
Choose to Adjust the thermostat in your home (taking no risk all CBD)
Choose to drive a fuel efficient car or a used car to save on payments (CBD)
Choose to cut down on going out to eat or cable or other entertainment (CBD)
Choose to Save money in a budget (CBD)
In the end you are choosing to be rich or poor.
But it looks to me like you have already made your choice.
2006-06-12 06:27:44 · answer #5 · answered by MP US Army 7 · 0⤊ 0⤋