And I thought MY money handling was bad!

[Viper GTS]

MUCH better than that store-bought crap.

At least for a year or so. After that it's not as good. But fresh, it's kick-ass as far as canned fruits & vegetables go.

Viper GTS

 

[kranky]

Don't forget taxes, that's probably about $900/month.

 

[Stallion]

Viper, it seems like you have some great parents there. In the world of big and better they have remained grounded in the truth that you don't need a TV and PC in everyroom and that you can make food at home just as good as a resturant that cost probably $30 or more for a family of 5.

Todays world is all about "keeping up with the Jones's" and most family are in debt because they soon find out that a new car isn't $24,000 ,it's only $400 a month(for 6 years) and the 62 inch TV and stereo isn't $4,500. It's only $200 a month and so the "easy monthly payments" soon become unbearable. It is a very sad thing.

My wife and I make a substancial(sp) amount of money(I work FT/her PT) and we soon realized that we were spending a lot of our cash so we put ourselfs on a budget. It's hard to stick to but when you look at receipts at the end of the month it's quite shocking to see how it can go so fast.

We bought a new house almost 2 years ago and that is about the extent of our big bills. We bought a used 96 Pontiac that the wife drives to work and we bought my parents 94 dodge van to haul our little boy in and I drive a 74 CJ-5 to work. (my 71 olds sits in the garage) I work an odd shift so one of us is always home so we are able to keep our son out of daycare.

Kudos to your parent, tell them to keep up the good work.

 

[Yeeny]

Wow Viper, we could have grown up in the same house. My mother and dad did all the same things your parents did, except we did finally get cable when I was 10. My husband and I lived on $26,000 for the last 3 yrs with three kids, and have managed (mostly) just fine. He now makes $52,000 which makes it a lot easier to cope, but I guess it is all about where you are located. We rent a three bedroom duplex for $600 a month including heat, water and electric.

 

[Viper GTS]

Kranky...

That figure I gave for monthly income was after I figured 25% taxes. I suspect they're not paying that much, since I'm single pay 27%, but I figured 25% should cover their taxes for sure.

Viper GTS

 

[BiB]

Yep, those people can't finance for SH*t. I see it all the time. I just got out of an IT school and almost all of my fellow grads are blowing all the money they have. I'm in a crappy city until gf is done school making only $35k/year CAN but putting half of my take-homeinto loans and investments. My brother is making $52k US and puts about 1/3 of what I do into his stuff. Its all about discipline...the funny thing is I used to have none until I read "The millionaire next door" and it really slapped me back into reality.Responsible financing is what its all about.

You can have a medical doctor making $200k/year at the age of 60 with a networth of $400,000. You can also have a carpenter making $50k/year at the age of 60 he can be worth 1.5 million, its all how you deal with your money.

I know a guy making $10/hour and he just bought a brand new VW GTI VR6. What in HELL was he thinking?! He lives at home and you know what? He will be until that thing is paid off...living right at your means (or even beyond with credit cards) is very stupid.

I have a friend who came out of school $10k in debt. He was making $38k to start, and about 2 years later had to file for bankruptcy. How? $15k in credit card debts over that time, a $44,000 SUV, he just couldn't tackle his debt, he totally overblew his income and lived like a king.

Sure, I could go an lease an Audi if I really wanted but whats the point? I might _look_ rich to other people, but who really cares? I'd much rather drive around in a reasonable vehicle content with the fact that if I lose my job its no big deal, or when its time to buy a house I can make a deposit...or when my kids go to university I already have $40k stashed away for it.

viper

Living in fear of being pulled over by the cops 'cause you have no license or insurance. Not being able to pay your DMV fines for fear of being evicted if you can't pay your rent. God man, on $46k year thats just terrible!!

BiB

 

[Anybody]

This thread just reminded me happily that all my credit card debt will be gone in 3 weeks... mmmmmmmmmmmmmmmmmmm =)

 

[OS]

Congrats