How can so many people be in debt.

[MySoS]

The funeral post made me think about this. I find it strange how so many people are in debt. My family (parents) is low income, yet we have 0 debt. We are able to buy new cars, and make home improvements up front in cash. So I don't see how if my parents who are poor can afford to do things like paying for a 25,000 car up front, and buy a new $15,000 roof up front with in a years time. Why do middle class families have to take out loans and such. Why are so many middle class families in debt. What are they spending their money on. I think the problem is people spend more then they have. That is why I think the idea of a morgage on a house, or a loan is stupid one. Just paying for everthing up front. That way you won't be in any debt.

 

[Kelvrick]

Taken from Nik

OMGWTFDIABBQ

 

[pyonir]

Originally posted by: MySoS
I think the problem is people spend more then they have.

Ummm..that is the only thing you needed to post.

 

[KLin]

because we're consumers. We have to have the latest gadgets, tommy hilfiger on all of our clothes, and the big SUV's, and we don't want save for it. We want it NOW NOW NOW. therefore we take out loans so we can buy everything NOW NOW NOW.

 

[jagec]

Because they're stupid, and they use credit cards to support a lifestyle they can't afford.

They spend their money on worthless crap like new entertainment systems and all the latest gadgets and gismos, and they spend more money than they should on the essentials like cars, homes, funerals...

 

[Doggiedog]

Originally posted by: MySoS
The funeral post made me think about this. I find it strange how so many people are in debt. My family (parents) is low income, yet we have 0 debt. We are able to buy new cars, and make home improvements up front in cash. So I don't see how if my parents who are poor can afford to do things like paying for a 25,000 car up front, and buy a new $15,000 roof up front with in a years time. Why do middle class families have to take out loans and such. Why are so many middle class families in debt. What are they spending their money on. I think the problem is people spend more then they have. That is why I think the idea of a morgage on a house, or a loan is stupid one. Just paying for everthing up front. That way you won't be in any debt.

Where the heck do you live Mr. Moneybags?

In the NYC area, you can't buy a decent house for less than $400k. If you want a 2 bedroom apartment in Manhattan, you're looking at $500k+.

 

[Merlyn3D]

Becuase life + college = very so damned expensive

hard to have that upfront.

 

[shilala]

You answered your own question. Loans cost money. Credit card debt costs money. Many people are paying half their salaries just to pay interest. It's mostly ignorance because they never put pen to paper and figure out what their money is doing for them (or they simply don't know any other way).

 

[conjur]

Marketing.

Consumerism.

Capitalism.

Material wealth.




Take your pick.

 

[MySoS]

Originally posted by: Doggiedog

Originally posted by: MySoS
The funeral post made me think about this. I find it strange how so many people are in debt. My family (parents) is low income, yet we have 0 debt. We are able to buy new cars, and make home improvements up front in cash. So I don't see how if my parents who are poor can afford to do things like paying for a 25,000 car up front, and buy a new $15,000 roof up front with in a years time. Why do middle class families have to take out loans and such. Why are so many middle class families in debt. What are they spending their money on. I think the problem is people spend more then they have. That is why I think the idea of a morgage on a house, or a loan is stupid one. Just paying for everthing up front. That way you won't be in any debt.

Where the heck do you live Mr. Moneybags?

In the NYC area, you can't buy a decent house for less than $400k. If you want a 2 bedroom apartment in Manhattan, you're looking at $500k+.

My family is poor, I am not Mr. Moneybags.

My parents live in Sacramento, Ca.

If you can't afford to live in NYC then don't. Don't go bankrupt living some where you can't afford.

 

[maziwanka]

Originally posted by: Doggiedog

Originally posted by: MySoS
The funeral post made me think about this. I find it strange how so many people are in debt. My family (parents) is low income, yet we have 0 debt. We are able to buy new cars, and make home improvements up front in cash. So I don't see how if my parents who are poor can afford to do things like paying for a 25,000 car up front, and buy a new $15,000 roof up front with in a years time. Why do middle class families have to take out loans and such. Why are so many middle class families in debt. What are they spending their money on. I think the problem is people spend more then they have. That is why I think the idea of a morgage on a house, or a loan is stupid one. Just paying for everthing up front. That way you won't be in any debt.

Where the heck do you live Mr. Moneybags?

In the NYC area, you can't buy a decent house for less than $400k. If you want a 2 bedroom apartment in Manhattan, you're looking at $500k+.

exactly. mysos needs to wake up to fvckign reality

 

[blackdogdeek]

Originally posted by: Doggiedog

Originally posted by: MySoS
The funeral post made me think about this. I find it strange how so many people are in debt. My family (parents) is low income, yet we have 0 debt. We are able to buy new cars, and make home improvements up front in cash. So I don't see how if my parents who are poor can afford to do things like paying for a 25,000 car up front, and buy a new $15,000 roof up front with in a years time. Why do middle class families have to take out loans and such. Why are so many middle class families in debt. What are they spending their money on. I think the problem is people spend more then they have. That is why I think the idea of a morgage on a house, or a loan is stupid one. Just paying for everthing up front. That way you won't be in any debt.

Where the heck do you live Mr. Moneybags?

In the NYC area, you can't buy a decent house for less than $400k. If you want a 2 bedroom apartment in Manhattan, you're looking at $500k+.

indeed.

our house cost $400k. we certainly don't have that amount of money lying around.

OP, not everyone is in your obviously cash-centric position.

 

[jagec]

Originally posted by: MySoS
My family is poor

You say that, but you don't even know the meaning of the word...

 

[Doggiedog]

Originally posted by: MySoS

Originally posted by: Doggiedog

Originally posted by: MySoS
The funeral post made me think about this. I find it strange how so many people are in debt. My family (parents) is low income, yet we have 0 debt. We are able to buy new cars, and make home improvements up front in cash. So I don't see how if my parents who are poor can afford to do things like paying for a 25,000 car up front, and buy a new $15,000 roof up front with in a years time. Why do middle class families have to take out loans and such. Why are so many middle class families in debt. What are they spending their money on. I think the problem is people spend more then they have. That is why I think the idea of a morgage on a house, or a loan is stupid one. Just paying for everthing up front. That way you won't be in any debt.

Where the heck do you live Mr. Moneybags?

In the NYC area, you can't buy a decent house for less than $400k. If you want a 2 bedroom apartment in Manhattan, you're looking at $500k+.

My family is poor, I am not Mr. Moneybags.

My parents live in Sacramento, Ca.

Living in NoCal, you should understand how much it costs to own a home or apartment up there. Would it be better off renting and gaining no equity than taking a loan and having a mortgage?

 

[blackdogdeek]

Originally posted by: MySoS

Originally posted by: Doggiedog

Originally posted by: MySoS
The funeral post made me think about this. I find it strange how so many people are in debt. My family (parents) is low income, yet we have 0 debt. We are able to buy new cars, and make home improvements up front in cash. So I don't see how if my parents who are poor can afford to do things like paying for a 25,000 car up front, and buy a new $15,000 roof up front with in a years time. Why do middle class families have to take out loans and such. Why are so many middle class families in debt. What are they spending their money on. I think the problem is people spend more then they have. That is why I think the idea of a morgage on a house, or a loan is stupid one. Just paying for everthing up front. That way you won't be in any debt.

Where the heck do you live Mr. Moneybags?

In the NYC area, you can't buy a decent house for less than $400k. If you want a 2 bedroom apartment in Manhattan, you're looking at $500k+.

My family is poor, I am not Mr. Moneybags.

My parents live in Sacramento, Ca.

If you can't afford to live in NYC then don't. Don't go bankrupt living some where you can't afford.

poor? if you consider poor to mean that you can pay for a house in cash, then i'd love to be as poor as your family is.

 

[flot]

Originally posted by: jagec

Originally posted by: MySoS
My family is poor

You say that, but you don't even know the meaning of the word...

Yeah, seriously. If your "poor" family could save up $15,000 in a year, I'd say they're doing a hell of a lot better than most.

 

[iamwiz82]

Originally posted by: MySoS

Originally posted by: Doggiedog

Originally posted by: MySoS
The funeral post made me think about this. I find it strange how so many people are in debt. My family (parents) is low income, yet we have 0 debt. We are able to buy new cars, and make home improvements up front in cash. So I don't see how if my parents who are poor can afford to do things like paying for a 25,000 car up front, and buy a new $15,000 roof up front with in a years time. Why do middle class families have to take out loans and such. Why are so many middle class families in debt. What are they spending their money on. I think the problem is people spend more then they have. That is why I think the idea of a morgage on a house, or a loan is stupid one. Just paying for everthing up front. That way you won't be in any debt.

Where the heck do you live Mr. Moneybags?

In the NYC area, you can't buy a decent house for less than $400k. If you want a 2 bedroom apartment in Manhattan, you're looking at $500k+.

My family is poor, I am not Mr. Moneybags.

My parents live in Sacramento, Ca.

If you can't afford to live in NYC then don't. Don't go bankrupt living some where you can't afford.

:roll:

I'm going to guess that you do not work and have concept of money. You live in the 17th LEAST affordable places in America. Perhaps alittle time in the real world will enlighten you?

 

[isasir]

You ever think that part of the reason your family is poor is because they pay for everything in cash?

Here's a hint -

1. Mortgage on a house
2. Wait 5 or more years
3. ....
4. Profit!

Edit: Or, upon seeing some of your other posts, you just don't understand the meaning of 'poor.'

 

[Anubis]

Originally posted by: blackdogdeek

Originally posted by: MySoS

Originally posted by: Doggiedog

Originally posted by: MySoS
The funeral post made me think about this. I find it strange how so many people are in debt. My family (parents) is low income, yet we have 0 debt. We are able to buy new cars, and make home improvements up front in cash. So I don't see how if my parents who are poor can afford to do things like paying for a 25,000 car up front, and buy a new $15,000 roof up front with in a years time. Why do middle class families have to take out loans and such. Why are so many middle class families in debt. What are they spending their money on. I think the problem is people spend more then they have. That is why I think the idea of a morgage on a house, or a loan is stupid one. Just paying for everthing up front. That way you won't be in any debt.

Where the heck do you live Mr. Moneybags?

In the NYC area, you can't buy a decent house for less than $400k. If you want a 2 bedroom apartment in Manhattan, you're looking at $500k+.

My family is poor, I am not Mr. Moneybags.

My parents live in Sacramento, Ca.

If you can't afford to live in NYC then don't. Don't go bankrupt living some where you can't afford.

poor? if you consider poor to mean that you can pay for a house in cash, then i'd love to be as poor as your family is.

me 2

 

[ReiAyanami]

big deal, the government has $100k+ debt ready for each family of 4

 

[EyeMWing]

The middle class wants there to be no middle class - they want to be upper class desperately and will do ANYTHING to make themselves feel like they've "made it"

 

[MySoS]

Originally posted by: blackdogdeek

Originally posted by: MySoS

Originally posted by: Doggiedog

Originally posted by: MySoS
The funeral post made me think about this. I find it strange how so many people are in debt. My family (parents) is low income, yet we have 0 debt. We are able to buy new cars, and make home improvements up front in cash. So I don't see how if my parents who are poor can afford to do things like paying for a 25,000 car up front, and buy a new $15,000 roof up front with in a years time. Why do middle class families have to take out loans and such. Why are so many middle class families in debt. What are they spending their money on. I think the problem is people spend more then they have. That is why I think the idea of a morgage on a house, or a loan is stupid one. Just paying for everthing up front. That way you won't be in any debt.

Where the heck do you live Mr. Moneybags?

In the NYC area, you can't buy a decent house for less than $400k. If you want a 2 bedroom apartment in Manhattan, you're looking at $500k+.

My family is poor, I am not Mr. Moneybags.

My parents live in Sacramento, Ca.

If you can't afford to live in NYC then don't. Don't go bankrupt living some where you can't afford.

poor? if you consider poor to mean that you can pay for a house in cash, then i'd love to be as poor as your family is.

I didn't say my family paid for their house upfront. In 1980 when they bought it they barrowed family members. And paid the family members off in 5 years. In 1980 the house cost around 100,000. My family is poor. We can do these things because we know how to take care of money. Even though we are poor we own 4 cars and each car was paid upfront in cash. 2 of the cars are after 1995, and 2 are after 2003. Poor doesn't mean you can't afford to do things.


I have no idea how much money my parents make, I say we are poor since that is what my parents tell me.

 

[BlueWeasel]

Your family is not poor...get over it.

 

[Baked]

Originally posted by: jagec
Because they're stupid, and they use credit cards to support a lifestyle they can't afford.

They spend their money on worthless crap like new entertainment systems and all the latest gadgets and gismos, and they spend more money than they should on the essentials like cars, homes, funerals...

And upgrading their computer every week so they can post about it on forums to increase their e-penis.

 

[furie27]

I think your conception of what poor is may be a bit off base. To be really poor would mean not earning $100k in the space of 5 years today, much less in the early 1980's. You are commenting on what it means to be fiscally responsible.