posted on February 4, 2002 03:40:36 PM new
I am one that owes alot and is not well off.I work a full time job,sell on the internet and at the flea market.Sometimes I wonder if I will ever see the other end of the tunnel other than the on coming train.How about you?
posted on February 4, 2002 04:25:04 PM new
I have aspirations to be well off but can't make that claim yet. Finally dug out of credit card debt late last year... headed in the right direction at least. It's tough! I need to win Lotto or Survivor or something.
posted on February 5, 2002 02:29:37 PM new
Ha! I used to have aspirations to be well off, now I'd just be happy to break even at the end of a month. ANY MONTH!
I believe that the perception of wealth is relative. For some, it's determined by how many yachts they own. Just think...Ken Lay's wife thinks that she is broke! Lol!!!
posted on February 5, 2002 05:23:31 PM new
That's so true rawbunzel.
If you can make enough to pay your bills and eat, you're way more ahead than alot of people. What's really bad is if you owe money and don't have a job.
I saw on the other thread that you are a Christian MAH645. Does your faith help you through the monotony of it all??
"Sometimes when we touch, the honesty's too much....."
posted on February 5, 2002 09:23:08 PM new
Oh do I ever owe. Just when you start to come up for air someone pushes your head back down. The company I worked for shut down three years ago, and now my husbands company is shutting down. I might be insane because I keep thinking everything will work out. I can't handle the truth.
posted on February 5, 2002 10:34:42 PM new
We've been married 42 years and don't owe a cent. My husband has had a steady income, fortunately, and I have worked outside the home for several years off and on. We pay for everything big, like cars, in cash, and bought our last home 3 months ago with cash. I'm not saying this to brag. We've put three kids through college and live comfortably but not extravagantly. We drive our cars at least 8 - 10 years or until they fall apart or look horrible. We don't buy fast food, we don't eat a lot of meat (the most expensive part of your grocery bill by far)--and this is by choice. I'm not into diamonds and furs. Our kids got presents at Christmas and on their birthdays, and baskets at Easter, but we didn't buy toys in between gift-giving days. Our one extravagance is books - and friends! We aren't cheap, just careful and frugal and it sure has paid off for us.
And since I began buying and selling, and going to those awful garage sales, my feelings about spending have just been reinforced! To look at all the danged crappy junk, little wooden doodads and hearts and straw flowers etc. etc. that people have spent actual money on just tells me we're on the right track. I think people make lots of impulse purchases that are just junk.
Have you read "The Millionaire Next Door"? We read it, bought a copy for each of our adult children two years ago, and it has helped to revolutionize the way they spend money (and save it, too). ANYONE can benefit from reading that wonderful book.
posted on February 6, 2002 09:35:14 AM new
apwolf, we have the same problem, when we start to come up for air someone pushes our head back down. We got our tax refund last year (me and my husband) and then our main vehicle needed major work and cost us nearly 3 times that much. Like roadsmith, we keep our vehicles a l-o-n-g time and make everything last as long as possible. Our main vehicle currently has over 125,000 miles on it and is still going strong. The bill for that work was no where near what it would have cost to replace the vehicle so I guess we cannot complain. We aren't in to any kind of jewelry, even costume type. We rarely eat out. Our main expense is housing but that is not something that is optional (except for people who actually like living in a car and roughing it). Cost of living in this state is high. We tried to leave and move to another state but things did not work out. Now we have to catch up on the bills that stacked up when my hubby was forced out of the military earlier than expected because of health reasons. He refuses to file bankruptcy for at least another 5+ years until we are absolutely sure there is no way out of this. I had never heard of the book called "The Millionaire Next Door" but I will keep my eyes peeled for it. Sounds like an interesting read.
posted on February 6, 2002 10:24:39 AM new
Don't come to Oklahoma. My husband and I always worked in factory's and all the good paying ones are leaving state. Are cost of living is low here and so is the pay. Our state just passed right to work, so I expect wages to go down more. We are getting a lot of Telephone jobs in our state. When I lost my job of 15 years we cut way back. Now after 19 years at his job and no hope of getting a job that pays near that. We can not cut back anymore. Our cars are 12 and 16 years old and I buy all our clothes, and toys at garage sales. We will make it I refuse to give up.
posted on February 6, 2002 11:30:49 AM new
Although cost of living is high here (southeastern Connecticut) the jobs are low paying. Most jobs in this area are fast food, cashiers, and jobs at the 2 casinos which I hear are lower than minimum wage which mean that they must rely on tips if they are lucky enough to get them. I've never even been to either of the casinos but I read the newspaper and I used to drive a bus and one of my passengers roommates worked at one of the casinos at that time. They get away with low wages because the casinos are on indian reservations and they don't seem to follow the same laws and stuff that the rest of us do. I've heard that they do have a good benefits package for employees. This particular person that I mentioned got a lot of tips which more than made up for low wages but not everyone gets good tips though. Electic Boat fired a lot of employees a few years ago. Most jobs that are left are also part time which have no benefits and have low wages. When we moved up here from Virginia (the military made us) our cost of living doubled as did our automobile insurance (they said it was a high accident area & I don't doubt it, the way they drive up here). Our cost of living $ from military went up at that time but certainly did not double! I'm sure things will eventually work out but it depressing right now. On the upside, I had a dream about a week ago that I came into a lot of money. The dream did not say where the $ came from just that the amount was $10,000,000! My fingers are crossed but I won't hold my breath
edited to add that our oldest vehicle (not our main one cuz it is too old to take it too far from home) is 38 years old. Our main vehicle is 9 years old.
posted on February 6, 2002 11:36:01 AM new
I mentioned "The Millionaire Next Door" because it's easy to find--out in paperback, too, and worth its weight in gold. The authors assumed that self-made millionaires live more lavishly than the rest of us, who sometimes, when we do get rich (IF we get rich!) frequently live beyond our means and think we need the latest house and car etc. etc. The authors of the study invited some of these guys to a hotel for a focus group discussion. They rented a suite in a fancy hotel thinking the rich guys would be more comfortable there. They catered a buffet of caviar and champagne, etc. etc. truffles, too, I think. The millionaires arrived in suits that weren't very new, seemed uncomfortable in their surroundings, ate the simple part of the buffet meal and left the caviar, etc. etc.
The authors learned that most of these people still live in their original homes, original neighborhoods!, drive older cars, don't take expensive vacations, and so forth. They do, however, place a high premium on their children's educations and grandchildren's too. They live within their means, pay cash, never borrow, etc. It is a comforting book and also extremely educational for the rest of us. Our adult children, all married, swear by it and are guiding their lives and spending habits by the principles in that book. It truly is worth getting and reading!
I also know that sometimes a family experiences major traumas, major medical expenses not covered by insurance, for example, and things can get very rough. I wasn't meaning to say our lives have been smooth, only that we're frugal where it matters, most of the time.
posted on February 6, 2002 02:09:10 PM new
Kraftdinner to answer your question...I wouldn't be as well of as I am if it wasn't for my faith as this is the first time in ten years I have been able to hold down a public job at all and alot of people can't do that because of their health.The main reason I'm in this boat is because of my own stupidy and its not Gods position to bale me out of situations I'm in because of disobedience to him. I do believe God will make a way for me as long as I'm trying to do whats right,but alot of us have problems keeping coming our way regardless.
posted on February 11, 2002 09:59:45 PM new
This is an interesting thread. You are all so thoughtful. I think you are all "well off" in a relative sense. You are alive, maybe in pain, but still able to think and contribute. You have a home, it's not a mansion, but there are plenty of people shivering, even starving, in the streets all over the world. You are living in a country that does not restrict you from expressing your opinion, be it on the Internet, in a letter to the editor, on a street corner, or among friends. You are able to say OUT LOUD that you are a Christian, or a Jew, or an atheist. I could go on - these are just some of the things I try to thank God for most every day - but I think I've made my point. Thank you all for the opportunity to do so.
posted on February 13, 2002 02:29:35 PM new
This is the first time I have ever read threads in the RT but am very glad I spotted this one.
All of your remarks are very interesting. The one common thing in all of them is survival. The things we do in our life just to make it from one day to the next.
My hubby and I raised 9 children on a maximum of $93.00 a week. There were no extras but there was a roof over our heads and food on the table and plenty of love to go around.
Now that the children are raised and we have 21 grandchildren to love, we think how lucky and blessed we are.
We still don't have a lot of money and the bills still show up every month, but we still have each other and that is all that matters in the end.
posted on February 13, 2002 02:47:44 PM new
rarriffle
That's a fantastic accomplishment to raise nine children even with an unlimited budget!
As some other people here have suggested, "keep it simple" is a good policy.
As you have pointed out, a loving and happy family is the number one prerequisite to survive on a limited budget. But it takes special skills in money management.
I think that it would be helpful and add some interest to this thread to invite tips on how to survive with less money.
posted on February 15, 2002 02:24:14 PM new
One tip I would have is if you don't have to buy a new car or truck don't waste your money....Most of the cars and trucks aren't worth near what they are trying to sell them for.I work I factory that makes new vaccums for Sears and honestly I'll really don't ever want to buy ANYTHING new again.I can think of other ways to throw my money away.If its made in USA you really don't want it.The workmanship sucks and the parts don't work!
posted on February 15, 2002 04:25:34 PM new
LoL Borillar!
MAH645
Good tip about cars. I've never had a new car. Who needs beautiful transportation? It
also cuts down on insurance...only liability necessary.
I was poor when my husband was in the army and learned really well how to distinguish between needs and wants. Wants were out of the question. Magazines, for example, were luxuries. A ride in the car was a luxury. When I washed the clothes, I couldn't afford to use the drier which cost twenty cents...so the diapers froze on the line. The end of the month was hell because there was no money and I can remember eating a ketsup sandwich.
But the funny thing about that period was that we were happy.
posted on February 15, 2002 09:25:06 PM new
I've owned several new cars - both American made and Japaneese. All of them had problems, the American car the least. The first year of owning a new car can have you see it more in the repair shop than on the road.
As far as product quality goes, I do buy American made when possible. I find the quality to be top notch in comparison to the slave-labor items made in China, whose household and home items are pure garbage that self-destructs in a very short time. I'm unimpressed with good made anywhere in the orient, except for Japan. Items from India are poor quality, and their clothes are something to be avoided at all costs, as the cotton is not pre-shrunk as required by law. In fact most clothes made in the orient are not sufficiently pre-shrunk before making the clohing item and skirt the import laws of this country. The only thing worth buying from any of the old Soviet Republics are AK-47's. Germany still makes OK items and France is kinda cruddy, England doesn't make anything except a mess.
What I've done is to insist on and pay for top quality. There is no substitute for it. I doubt, though, that there is any vacuuum cleaner made that is worth a damn.
posted on February 15, 2002 09:38:17 PM new
to paraphrase that fat old cigar smoking clown churchill never have so many OWED so much to so few, actually I have the prefect plan we all put in 30.00each and pay for a fine mfr to make up OJ Simpsom Commemorative Memorial Knives, Just think of the raw capitalist appeal in the commercials we could flood the airwaves with ''each knife made by hand by our faithful Pakistani allies features a blade etched by hand with the Blazer chase scene'' this stunning collectible sure to be a hit in the pages of the national enquirer a Limited edition with a stunnning letter of recommendation for the bar association and a hand carved Likeness of Judge ito's head on the end of the handle, the handle made out of a simulated ivroy has fine detail of the twelve juror's in its fncy walnut case this will be an excellent toy for the children, as mr simpson travels the goldf courses of America looking for the one armed golfer who killed his wife. we would sell millions, Think of it we could follow up with a Line of Kids toys based on that lovable pedophile ,r beat it jacKson or better yet the tammy faye love doll complete with eye shadow.
posted on February 16, 2002 02:16:47 PM new
when you buy a new car, you lose 20% of its value as soon as you drive it off the lot. what a waste for a status symbol.
my favorite money saving saying is "use it up"
my one son jokes about even wearing hand me down underwear.
I just hate to see anything used wastefully, even dishsoap or paper towels. I would rather have that money in my pocket than the grocers.
posted on February 16, 2002 03:44:35 PM new
Here's an old pioneer saying that I recite to myself frequently:
Use it up,
Wear it out,
Make it do
Or do without!
I too hate to waste anything. An early lesson for me: My dad was minister of a large church. He remarked one time, after having breakfast at the home of the richest members, that the man of the family scraped every last bit of jam from the jar! Dad was surprised. I'm not.
posted on February 16, 2002 04:06:23 PM new
Buy quality, even if you have to sacrifice appearance to be able to afford it.
I bought a new car in 1985 - a 1985 Toyota Corolla. I'm still driving it. Nothing ever seems to go wrong with car (of course I've only driven 110,000 km with it) so it was an extremely good investment. I think my only expense in the last year besides insurance and gas, was to change the oil and filter.
posted on February 16, 2002 04:40:50 PM new
I should add that some of us, even though we could afford a new car would rather keep our money in the bank.
This thread is about people who are concerned about debt.
It's not good advice to suggest that they buy a new car.
Helen
[ edited by hjw on Feb 16, 2002 04:42 PM ]
[ edited by hjw on Feb 16, 2002 04:48 PM ]
posted on February 16, 2002 04:51:38 PM new
Helen: Whether your costs are lower than mine would depend on how many used cars you've had since 1985... and how much longer our respective cars will last.
posted on February 16, 2002 05:07:04 PM new
Helen, I bought one of the safest cars I could afford in 1990 - a new barebones Saab 900. And it saved my life according to the patrolwoman who investigated the accident in which I was involved. She said I wouldn't have lived to tell the tale had I been driving a Toyota or Honda. I took my insurance money and replaced that Saab with a 1991 Saab 900. It's been a good car except for a few electrical problems.
posted on February 16, 2002 08:56:34 PM new
I think that some people here cannot understand poverty. When you are faced with overwhelming debts, it doesn't make good sense and is sometimes impossible to buy a new car. Although some people may be able to pay cash for a new car, most people are faced with very high monthly payments.which they can't afford. This in addition to the amount required to insure a new car is overwhelming.
Poor people can't afford to save their lives. They can't afford new cars to save their lives. Sometimes they can't even afford health insurance to save their lives.
