Do people really not know how well off they have it?

[MetalMat]

Most people think they are middle class, its been proven. You can't really ask a person that, you need to go by a certain chart. Right now I fVckin broke though since I am paying for everything myself and not living with my parents, I make 7.50 an hour :beer:

Hopefully that will change when I graduate this semester in EECE.

 

[Trevelyan]

Originally posted by: FlyLice

Originally posted by: Trevelyan

Originally posted by: FlyLice

Originally posted by: Trevelyan

Her family is stinkin rich and they still have debt. Jeez man, I know it will take just a second for someone to call me a hypocrit, but man people are starving in the world and we are over here sitting pretty driving multiple cars and wasting everything and to put a cherry on top we complain about it.

America is not the only guilty party, but man sometimes it is just ridiculous what goes on all around.

You people are so dumb. TIME VALUE OF MONEY. DEBT IS NOT BAD. OVER-LEVERAGING IS NOT GOOD. Why spend CASH when the bank will GIVE YOU MONEY!??!?! ARGH so stupid i don't even feel like explaining this sh!t to stupid people..........

Simple example: Man makes $1million a year. He wants to buy a $3million house. WHY WAIT HOWEVERR MANY YEARS TO SAVE UP FOR IT WHEN THE BANK SAYS HERE'S $3MILLION JUST PAY ME 5.5% INTEREST RATE AND KEEP YOUR CASH WHERE YOU CAN EARN 10% PLUS IN THE EQUITIES MARKET OR DOING BUSINESS.

I don't know their particular financial situation, but I don't consider a house mortgage debt. I would say they don't need five cars for three drivers, and they certainly don't need credit card debt. Cars, clothes, pianos, etc. unlike houses are NOT INVESTMENTS so going into debt for them is not a money-making strategy. (Unless you need a car for work or something, but even then you don't need a Jag or Mercedes when a Toyota will do.)

How do you expect to have zero debt? Rich people get kick-ass interest rates and perks from using their charge cards.

Jeez the idea that you can't live without debt is so widespread it is ridiculous. Listen, I know that with a lot of money there are certain investment strategies that you can play the system and make more money even if you have to go into debt to do it.

But I think its obvious that MOST consumers are not taking the cash they saved by charging that big screen TV and investing it in the stock market... No, they are using it to put a downpayment on something else. Not all debt is bad, but having readily-available credit and using it when there is not reason aside from an insatiable desire to have what you want NOW is NOT a good thing. I think thats evident by the widespread debt and bankruptcy declarations that happen more frequently during a recession.

Even the most well-off people can't manage their money, and if something happens to their job they are in a bad situation, and no amount of a low-interest credit cards with perks is going to help them then.

 

[notfred]

These people are born into these situations. As long as this person's been alive, she's had a big house, and new luxury cars around her. This is NORMAL, from her perspective. What is the definition of "middle-class"? It's basically - normal, or average. She hears that, and says "Well, I'm normal, so I'm middle class". She'll see anyone significantly richer than her as "rich", anyone significantly poorer than her as "poor", and anyone at about the same level as "middle-class". This happens to all these kids that grow up in these types of families. Everyone thinks they're normal unless something drastic happens to show them that they're not.

 

[mrrman]

the more you got the more you want...its call greed

 

[element]

Originally posted by: Transition

Originally posted by: FlyLice

Originally posted by: Trevelyan

Her family is stinkin rich and they still have debt. Jeez man, I know it will take just a second for someone to call me a hypocrit, but man people are starving in the world and we are over here sitting pretty driving multiple cars and wasting everything and to put a cherry on top we complain about it.

America is not the only guilty party, but man sometimes it is just ridiculous what goes on all around.

You people are so dumb. TIME VALUE OF MONEY. DEBT IS NOT BAD. OVER-LEVERAGING IS NOT GOOD. Why spend CASH when the bank will GIVE YOU MONEY!??!?! ARGH so stupid i don't even feel like explaining this sh!t to stupid people..........

Simple example: Man makes $1million a year. He wants to buy a $3million house. WHY WAIT HOWEVERR MANY YEARS TO SAVE UP FOR IT WHEN THE BANK SAYS HERE'S $3MILLION JUST PAY ME 5.5% INTEREST RATE AND KEEP YOUR CASH WHERE YOU CAN EARN 10% PLUS IN THE EQUITIES MARKET OR DOING BUSINESS.

Cash is king. A 3 million dollar house is a 3 million dollar liability. More assets, less liabilities. Live by it.

If you own that house it's an asset not a liability. If the bank "owns it" (pwns joo) ie. you're paying a mortgage, then it's a liability.

 

[TheShiz]

People are ignorant, poor here is a joke compared to poor in the rest of the world, especially impoverished countries. People are greedy also. No matter what you have there are plenty of people who have more and most likely plenty more who have much less. The consumer society will eventually fall to pieces once people realize that the world is not an infinite resource, and not an infinite trash can.

 

[Trevelyan]

Originally posted by: TheShiz
People are ignorant, poor here is a joke compared to poor in the rest of the world, especially impoverished countries. People are greedy also. No matter what you have there are plenty of people who have more and most likely plenty more who have much less. The consumer society will eventually fall to pieces once people realize that the world is not an infinite resource, and not an infinite trash can.

word

 

[AreaCode707]

Originally posted by: AgaBoogaBoo
maybe they don't want to say it?

they just want to "fit in" and not stand out with something like money, modest imo

Ding ding ding. For a while, when I was in high school, my family was making VERY good money. I really downplayed it. It's embarassing to admit your parents paid for 3/4 of the price of your car, and if people realize how much you have then you're expected to pay for things (see the earlier comment made about rich people managing money badly - people seem to expect them to manage badly and just pay for everything.) I wasn't in any hurry for people to think of me as the rich kid.

I make just under 40k/yr now and I consider myself lucky, happy, and well off.

 

[IAteYourMother]

Conclusion: MySos is stupid

 

[jagec]

Originally posted by: element
If you own that house it's an asset not a liability. If the bank "owns it" (pwns joo) ie. you're paying a mortgage, then it's a liability.

if you own and live in a house, it's a liability. It's not making you any money until you sell it. As soon as you put it on the MARKET, it becomes an asset.
If you rent it out on the other hand...

Originally posted by: Anubis
the thing is upper midle class is such a broad range that it fvcks that up, we are upper middle class but make no where near 1 mill a year

Class doesn't really have to do with money so much as upbringing.

 

[kranky]

Originally posted by: FlyLice
You people are so dumb. TIME VALUE OF MONEY. DEBT IS NOT BAD. OVER-LEVERAGING IS NOT GOOD. Why spend CASH when the bank will GIVE YOU MONEY!??!?! ARGH so stupid i don't even feel like explaining this sh!t to stupid people..........

You know what? You are making a terrible first impression. You insult everyone here in the above post, and another thread you recommended tax fraud.

Grow up, Junior.

 

[Sparky19692]

Originally posted by: Trevelyan

Originally posted by: FlyLice

Originally posted by: Trevelyan

Originally posted by: FlyLice

Originally posted by: Trevelyan

Her family is stinkin rich and they still have debt. Jeez man, I know it will take just a second for someone to call me a hypocrit, but man people are starving in the world and we are over here sitting pretty driving multiple cars and wasting everything and to put a cherry on top we complain about it.

America is not the only guilty party, but man sometimes it is just ridiculous what goes on all around.

You people are so dumb. TIME VALUE OF MONEY. DEBT IS NOT BAD. OVER-LEVERAGING IS NOT GOOD. Why spend CASH when the bank will GIVE YOU MONEY!??!?! ARGH so stupid i don't even feel like explaining this sh!t to stupid people..........

Simple example: Man makes $1million a year. He wants to buy a $3million house. WHY WAIT HOWEVERR MANY YEARS TO SAVE UP FOR IT WHEN THE BANK SAYS HERE'S $3MILLION JUST PAY ME 5.5% INTEREST RATE AND KEEP YOUR CASH WHERE YOU CAN EARN 10% PLUS IN THE EQUITIES MARKET OR DOING BUSINESS.

I don't know their particular financial situation, but I don't consider a house mortgage debt. I would say they don't need five cars for three drivers, and they certainly don't need credit card debt. Cars, clothes, pianos, etc. unlike houses are NOT INVESTMENTS so going into debt for them is not a money-making strategy. (Unless you need a car for work or something, but even then you don't need a Jag or Mercedes when a Toyota will do.)

How do you expect to have zero debt? Rich people get kick-ass interest rates and perks from using their charge cards.

Jeez the idea that you can't live without debt is so widespread it is ridiculous. Listen, I know that with a lot of money there are certain investment strategies that you can play the system and make more money even if you have to go into debt to do it.

But I think its obvious that MOST consumers are not taking the cash they saved by charging that big screen TV and investing it in the stock market... No, they are using it to put a downpayment on something else. Not all debt is bad, but having readily-available credit and using it when there is not reason aside from an insatiable desire to have what you want NOW is NOT a good thing. I think thats evident by the widespread debt and bankruptcy declarations that happen more frequently during a recession.

Even the most well-off people can't manage their money, and if something happens to their job they are in a bad situation, and no amount of a low-interest credit cards with perks is going to help them then.

Getting Rich is easy it just takes time. and NOT borrowing Money Zero Debt!!
Show me a Rich person that is in personal Debt if they are there simply not Rich. Get out a Dictonary (how ever you spell that) . If I have a Million dollars but owe 3 mill on my house I'M BROKE!
How fast will you be able to save and invest money with out $400.00 per month in credit cards? add to that a house payment $2000.00 now you boat or stereo going out to eat twice a week. Save that money for 7 to 14 years what do you have?
Zero debt.
invest in mutual funds Not Stocks!

WOW Now your rich enought to enjoy life!
Plus now it is a habit, and I hope you will have tought your children
Its simply managing money with out MEMEMEMEMEMEME got to have it NOW

the title for this post is correct most of Us Americans do not know how good we have it