I really believe most people are scrapping by monthly to pay there bills, mortgages, loans, car, etc....etc
I doubt they barely have anything in savings....
What do you think?
2006-12-18 08:50:43 · 13 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
Sounds like you're talking about me.
I buy just what I can get by on. There's not
money for things I'd like to have.
But I've seen people that have plenty of money
splurge on unnecceeary things, especially now at Christmas.
Yes, Those who have plenty waste it away never thinking what would happen if their income suddenly stopped.
2006-12-18 09:03:33 · answer #1 · answered by eviechatter 6 · 0⤊ 0⤋
These days it's not hard to fall into debt. I don't know where you're from, but I live in the San Francisco area, and you have to struggle just for susrvival, and when you spend a bit of money to feel human, you work all the harder and longer. I let someone else screw up my credit, though that was years ago and a good life lesson.
I also think that too many people focus on the "sounds good for right now" and get into programs that aren't explained which in the long-run, put them into difficult situations. Never sign anything if it can't be explained inside and out, and cross-checked.
2006-12-18 16:59:27 · answer #2 · answered by lucidaura25 2 · 0⤊ 0⤋
I think most people do. We're very frugal and I see other people spending so much more than we do (on toys, cars, vacations, shopping) and I don't know how they do it-- credit cards? I know what some family members earn and they live a much more extravagant lifestyle than we do, even though they earn a lot less. One 1 family member in particular ran out of money 3 weeks after losing a job. Most people now are 2 paychecks away from being homeless.
I can't wait to leave California to have a lower cost of living, lower taxes, lower property tax, lower housing costs, lower insurance costs. It's insane when a cheap 1200 square foot house in a bad area tops the half-million dollar price tag!
2006-12-18 17:03:33 · answer #3 · answered by Sabine É 6 · 0⤊ 0⤋
You are absolutely right. We consume more than we conserve and we have lost the value and respect for money because marketeers have made it easier for us to buy with interest free loans and terms.
Stick to fundamentals. Earn then spend....always put 10% aside.
It's not higher interest rates that is hurting people, it's the size of the loans. Many people have borrowed far too much and it will be interesting to see what happens when the tide goes out, I think you will find the majority swimming NAKED!
2006-12-18 17:28:43 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Most people cannot manage to save. If you are paying a mortgage or own....something needs repair...we pay. Husband and I both make ok money in NJ....but this is such a high state that the average home goes for 425k and that is someting average like 2 br 1 and 1/2 baths, no real land....not to mention car ins and everything else...gallon milk is 4.59....let me know the secret of saving please. Now with xmas what a HEADACHE!!!
2006-12-18 17:05:45 · answer #5 · answered by jshorePR 4 · 0⤊ 0⤋
Believe? Hell there is proof simply by checking out all the foreclosures, bankruptcy & losers out there !!!
99% of us live beyond what we need. Check out the amish... They have jsut what they need and no more. Proof that WE CAN live without all the crap that is being blasted in our minds through commercials and peer pressure.
I have to laugh at the morons on here that beg for money to fix their lives but they somehow how have the money for a computer and internet.
Scrapping by is simply a CHOICE people make. I rather have money than all the crap costing me money each month.
aaaaaaaaaaaaaaagh life is good AND fair !!!!!!!
2006-12-18 19:39:29 · answer #6 · answered by Kitty 6 · 0⤊ 0⤋
The average US debt, outside of mortgages are in the thousands of dollars, and savings in banking institutions is at a Great Depression low...so yes, we live way above our means
2006-12-18 16:53:26 · answer #7 · answered by dougzinboston 4 · 0⤊ 0⤋
Yes, I agree. The average American holds $10,000 in credit card debt. TEN THOUSAND DOLLARS!!!!!! That's NUTS! My husband and I realized recently that we were on our way to becoming one of those statistics and paid off our credit card fast. We'll own our house free and clear next month and our car will be paid off in 3 years. (Okay, so we've worked hard to not become a statistic, I had to brag a bit!) I think many of us fall victim to the "buy now pay later" way of thinking.
2006-12-18 16:59:11 · answer #8 · answered by chicpower 5 · 2⤊ 0⤋
i think you are probably correct however i dont go around asking everybody so i really dont know. i can only say whats true for myself. and i am not in that boat thankfully. having taken the credit card fall at an early age - i'm a wee bit more learned at this point.
2006-12-18 17:01:35 · answer #9 · answered by bbq 6 · 0⤊ 0⤋
You're right. Don't be one of them. I recommend a book called "Green With Envy" by Shira Boss. Tons of people live above their means no matter what their means are. All in the name of comfort. My idea of real comfort is not having to worry.
You should live BELOW your means no matter what they are.
2006-12-18 16:57:48 · answer #10 · answered by Big R 6 · 1⤊ 0⤋