OT, but about people financial thinking

Your behind on your car payments, your 1 missed payment from having your name in the county paper in the foreclosure section, you have your thermostat set at 55 degrees because you have no credit with the fuel company, you have $30,000+ in student loans, BUT your 4 kids all have phones so you have a $200-$300 a month cell bill, you get a "earned income credit" tax refund over $5000 and use it to take a trip, you refuse to trade off the vehicles your behind on payments on for an older vehicle that could be free and clear, you complain about food prices, but spend a weeks grocery bill at the local "sportsbar" watching your favorite team and acting like a 10th grader. Then you have the nerve to make a comment like " Yeah, sure, you farmers sure have it rough". How the heck were some of my peers raised, come on guys, we're almost 40. At what point do you grow up and stop complaining that your folks arent helping you out in your time of greed?
Sorry all, I had to vent. So many seem to not understand the statement "Life is what you make it, not what is handed to you"

all i have to say to them is SO WHAT, i totally agree with you, but the only person getting a Migraine over it is us. so i try to remeber the End Game. I live now for me. cause in teh end i know i will win. i take car of my stuff now, live within my means and pay my bills, and cover myself with insurance and rather then go to bar and restaraunts, i send that money to an IRA. so that when its time to retire, my biggest decision, is where do i go every month for my vacations till i croak.

me and my wife is a DINK couple. Double Income No Kids. and we see people with the exact same income we have with 3 kids, taking long trips every year and have a boat, mobile home, 2 brand new cars, 4-wheelers and teh works, and we cant figure out how they do it.

but again, it dont matter, life is a race, its not how u run teh race it is how u end it.

i plan to end it Financially Free.

I guess that's why I'm thankful that we didn't have much when I was growing up. I grew up not expecting to have much or to have someone to bail me out every time I was broke. Now my mom did help me with truck payments when I was younger, but I worked for it. I'm blessed with more than I ever dreamed I would have, but if I gotta go back to eating Ramen noodles and shopping at the Salvation Army store so my family can survive, so be it. A real man will work his butt off to provide for the family and sell off that which is important to him, but not necessary to keep his family together because that comes first.

So you are saying I should get rid of my cell phone; 4 wheeler; 4 door 1 ton grocery getter; and my plush 3 story house with the professionally manicured lawn.
How will I ever be able to show my face in town again.

It is funny how people have their lawn cut by a professional; or use a riding mower; but go to the spa 3 times a week because they feel it is healthy to get some exercise. Down right crazy if you ask me.

Another point I have lived by all my life but does not go over well in these modern times is child day care. Can not see how both parents can have a job while their kids are being raised by someone else in day care.

It has reached the point that my wife is shopping for an elderly residence for her mother. The going price in the Twin Cities is $5K/mo., these are not places with a lot of frills, just a place to live and get some care. My calculation is that the cost is about a dollar a minute. Putting it in this context makes me want to conserve even more

It is all a "Frame of mind". My wife and I have been married for 41 years. It has not all been easy or goody goody. She can complain about a lot of things I have done, but she cannot say I didn't bring home the bread. I got fired once in 1974, and was out filling out job aps the next morning. Wound up getting reinstated on my old job. Applied for Social Security a couple of weeks ago, but I don't know how I'll be able to live, if I don't have a job. I've never been without.

I hear ya on that statement, I have been fortunate to be able to work for over 20 years now, full time with no layoff. I thank the good Lord for that.
It is too bad that most folks dont have better priorities, especially when booze and smokes come before the car payment.

Unfortunately that lifestyle is what our economy is largely based on. And why it finally fell apart.
So are many business models.

You need some talk with a estate planning lawyer. Need to see how much medicare pays and how much you need to pay up. 5k per month is pretty good. It was that much in Florida 10 years ago, my grandmother went thru 300k in 5 years. A lot of baby boomers aren't gonna get much inheritance!!

ya know what really gets me, the guy rideing around mowing his postage stamp sized lawn!

I worked with a guy that would once in a while say he was going to the gym that night. I would tell him he can save all that money and come out to the farm for that workout and wouldn't cost him a thing. I always got a polite h@11 no.

My wife buys bottled water to drink because she does not like the iron in our well water. Then she buys iron tablets to take every morning. Go figure.

Yup. To many people trying to keep up with the Jones's. I know people who are more worried about what people will think about what they are wearing then anything else. Then they turn around and look down their nose at someone who doesn't dress "good enough" in their opinion.
When ever I bring home a trailer/truck load of "junk", I like to drive by those people and let them know what I'm doing to their property values.

Sometimes we don't know all the circumstances. Sometimes these folks signed a 2-year contract for cell phone service right before the breadwinner got laid off, for example. But there isn't much excuse for the sports bar thing, unless someone gave him a gift card he's trying to use up.

As I said, things aren't always as they appear. There are also the folks who appear to have the world by the azz, when the truth is we can't see the drug addiction or other problems that are going on behind the veneer that we see.

It's easy to judge other when we don't know all the facts.

Dave I am with you on this one... I could not sleep at night if I was living on over-extended credit and in debt to my receading hairline! Much less live a Rock Star lifestyle in the process. I am also a DINK family. My wife and I are 27 and 28 respectively. Both of us have Bachelors Degrees, hers in CIS (Computer Information Systems) and mine in IET (Industrial Engineering Technology). We clear over 6 figures, and have an LLC in rental property. We are both pretty frugal spenders. Simply she doesen't spend much and I shop EBAY and drive around buying used equipment when I need a new toy!

We both work at the same Manufacturing facility, she is the Computer Programmer and I am a Multi-Craft Maintenance Technician (mostly Electrician/PLC/Robotics Guru). Our co-workers call us "rich" because they cannot afford to take weekend trips to the beach (staying at friends condos), buy land (sweet deal I worked for 8 months, 50 acres for $1700/acre in an area with $5-$8k/acre), own a tractor (1962 Farmall 504), and the like. They all live in houses to big that they paid too much for, have new cars, and spend money on un-nessecary material things like a $25K Harley Davidson.

I grow food in my large garden, proud to have equipment older than me, live in a mobile home (for now, saving to put out a decent down payment and plan to build myself, sub-contract the rest), drive a paid for 8 year old truck, once out of college paid off ALL DEBT first never to return; If I cannot pay it at once I do not need it, still have the 1979 Chevrolet C20 I had in high school, put 10% in my 401k weekly, buy stocks monthly, help my elderly neighbor when he need it including filling his propane tank in the winter, ect.

And by managing what I have my wife and I live modest, do as we please, travel as we please, and keep a comfortable cushion in the checking accounts. How do we do it? Well the co-workers call us "rich". I call it Dave Ramsey. If you have not heard of him, learn more. He is not smart, he just applies common sense to managing money.

The only bills I have are common utilities, phone (no residential landline only 2 cells and a cellular modem), insurances, land mortgage, and the wife's 2008 MINI COOPER S (she pay the note and she put $9000 down).

I know a guy I used to work with. He was over extended in debt and found a new job. He sold me his 10 year old mobile home and moved into a rent house (3 BR, 1 BA him, wife, 4 kids for $700/mo.) Changed jobs, cashed in his 401k and took a trip to Disney World. Now he is laid off living in a garage apartment at his in-laws... He made $$$ more than me... I have no sympathy for those who are not responsable.

Sorry for the ranting post, It struck a nerve and I have been drinking a little I respect those who have been prepared and unaffected by the failing economy. I am not "rich", just aware of what I must do to survive life and learned from past financial mistakes.

Good luck Friends,

Charles

I saw these numbers as well, and thought about quitting adding money to 401k, and investments, might as well have a little fun now, rather than 5k/mth when i dont know what planet i am on when old.

Lots of options, but i could pay off my house mortgage with my 401k, so it is very tempting. These financiers will figure out ways to get around the laws that are being made today, and the financial crisis will arrive on schedule 30 some years from now.

i do miss the days of a good work out at the farm. i am a blue collar office worker now.

i grew up midwest middle size town, and always was funny how the football players who worked out in teh gym could never get quite as strong as the farm kids who baled alot. 3000 bales a day, now that is a work out.

I hear ya. My wife owes a couple grand on student loans and a little bit on the credit card she had in college, but we're paying them off as fast as possible, driving 12 and 14 year old cars, and saving to buy a house.

All of my brothers are doing fairly well also. Atleast our parents taught us something...

Donovan from Wisconsin

Dave,
A few things you forgot to add. A pack of cigarettes each day, and a six pack after work.

Tried explaining economics to my neighbor who fits your description above... He just couldn"t understand the concept that a case of beer was cheaper than buying 4 six packs, same with the cigs. Plus he wouldn"t have to stop every night.

Have a family member still looking (and getting) his handout. Not from me. If he worked half as hard at working as he did avoiding work, he"d be rich.

Rick

Saw a post where a fellow smoke 4 packs a day.plus a pint of whiskey and a 12 pack of beer.This has got to cost 40 bucks a day.