Why do they live like they are rich? I know a few people who are deeply in debt and are always traveling and shopping. m mad cause I am 4 thousand in debt and pinch every penny. My sister is in at least 50 thousand and lives like a movie star. Should I be jealous. I cant even take my kid on vacation as im tryin to reduce my little debt. Whats wrong with this picture?
2007-05-30 01:07:18 · 15 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
You should not be jealous. Your sister is going to get backfired by debt at some point. You are doing the right thing. You don't need to go on expensive vacation spots with your kid. One day at the Zoo, at a nearby water park, even Chuckee Cheeses will do the trick (depending in your kid's age) as long as it doesn't take you out of budget. I do this with my kid at least once a month, I take her someplace we don't go often and she has fun and is pleased, so I am too.
If you want to take your kid somewhere for a few days, plan it and save so you can do it by paying cash and not using credit, or not at least not charge everything to credit, just a minimal amount.
2007-05-30 04:33:03 · answer #1 · answered by Michelle 2 · 0⤊ 0⤋
You have to be in debt to have a good credit score. :-o You not want a good credit score? ;-) LOL!
I decided I did not care about bragging about a credit score and never buy on credit, pay cash. I have more buying power as all my money can go toward buying what I want and not 10-30% of the money go down the "Interest" drain.
Many feel debt gives more buying power as they can buy at the time they want. But, if a person learn to save and budget it not long you buy when you want, what you want and pay cash and done with it.
Example; A car. Buy what we can for cash, then save what we would have paid a month for a car on credit. When the cash car die, we have saved enough to pay cash again for something better. Then you on a role!
At this time my savings is for a Sailboat. Within the next 1-2 years I will have saved enough to buy what I want for cash.
2007-05-30 01:23:57 · answer #2 · answered by Snaglefritz 7 · 0⤊ 0⤋
I wouldn't be jealous of your sister no matter how she was living. You're free (much more than her anyway).
My husband and I realized the insanity of credit card purchases is, that if we didn't have to make credit card payments, we wouldn't even feel tempted to make purchases on the credit card, because we'd have the cash to just buy the stuff.
Anyway, in the not-to-distant future, you're saving and penny-pinching will pay off, and her spending will catch up to her.
Remember the story of the ant and the grasshopper? http://www.dltk-teach.com/fables/grasshopper/mstory.htm
Oh- btw - my parents were very frugal like you, but we still managed to vacation, we just did a lot of tent camping instead of hotel rooms, and you know what, as a kid, I never thought I was missing out on a thing because it was so much fun.
2007-05-30 03:31:10 · answer #3 · answered by daisyk 6 · 2⤊ 0⤋
Chin up, kid! You are on the right path.
Google 'gary north'! He has a free website with lots of good ideas that you may find useful. Being in debt is akin to being enslaved.
There is a way to be totally free of debt including your home mortgage in ten years - assuming you have more income monthly than your fixed expenses. If you would like a file on this sent to you, let me know.
2007-05-30 07:27:08 · answer #4 · answered by luckyzimmy 2 · 0⤊ 0⤋
I actually watched a documentary on this very subject once. Evidently spending money and living the high life is like an addiction... doesn't make much sense, but like all the other addictions out there, they just can't quit spending money... I know your pain, I'm in debt to and can't seem to ever get ahead...
2007-05-30 01:16:58 · answer #5 · answered by Cujo's Mom 3 · 0⤊ 0⤋
What's wrong with this picture is your sister not facing her responsibility! I applaud your efforts to get yourself out of debt. Once you accomplish this, you will find that you have a far better life than your sister.
Your credit will be improved by what you're doing. Your sister sounds like she's headed for financial disaster.
Hang in there & stick to your goal - it is SO worth it! : )
2007-05-30 01:19:44 · answer #6 · answered by Babs 4 · 1⤊ 0⤋
It will come back to get you sister. You are doing the right thing. True freedom comes from financial freedom. You cannot be truly free when you owe someone else for everything you have.
You are doing the right thing by paying off your debt. You will be able to afford those vactions free and clear soon enough.
She will eventually pay the price for her poor decision making now.
2007-05-30 01:18:39 · answer #7 · answered by barksabit 6 · 1⤊ 0⤋
Because you dont lie to yourself. You are much more connected to your feelings as you dont hide your true self as much as they do.
People who do this are trying to find happiness from material which is like trying to eat a tv diner by opening the tv TO LOOK FOR THE FOOD. Impossible.
Just know that when you laugh you do it with feeling and when they laugh they do it from their head, not their heart.
The most important thing is to know that you are dealing with your issues and they are just hiding them, which actually works to build the issues up.
Dont be jealous.
You actually love what you have more than them.
You have probably noticed that they dont value what they buy as much as you.
They probably break things more than you or tear or lose these things because deep down they know that these things are causing them misery and are trapping them in serious debt that they will have to recover sooner or later.
2007-05-30 01:37:02 · answer #8 · answered by ramie box 3 · 1⤊ 0⤋
%% You shouldnt be jelous because they are living way above thier means wheras you are preparing for your financial future. when you are older and it is time to retire you will be reaping the benefits and will be able to enjoy retirement and do the things you like wheras your sister will probably never be able to retire and will always be on a slippery slope DOWN. I know because my parents were very consious of their finances when i was growing up and they have always been fairly stable, wheras my aunts were not and are now struggling and older with health probs now. They have nothing to fall back on and are always in crisis and borrowing money fr my folks. keep your head up, it sucks for now but will be the best choise in the long run. %%
2007-05-30 01:16:38 · answer #9 · answered by saraweez 2 · 1⤊ 0⤋
Keep doing what you're doing. Live on less than you make. Measure your net worth (what you own minus what you owe) every month-end and make sure that is increasing.
Your sister will eventually go broke and that credit well will dry up.
2007-05-30 01:17:06 · answer #10 · answered by Anonymous · 0⤊ 0⤋