How can so many people be in debt.

[Anubis]

Originally posted by: Mo0o

Originally posted by: MySoS

Originally posted by: Mo0o

Originally posted by: pyonir

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

LMAO....okay....

I bet his parents are Asian and cheap. BIG difference from poor

Yes my mother is Vietnamese. She is mainly the one who keeps saying how poor we are.

4 cars means you are not POOR. If you can pay off a 100,000 loan from relatives in 5 years, you are not POOR.

yea he sounds like a spoiled lil rich kid that has no idea what stuff is really worth

 

[jagec]

Originally posted by: MySoS
Well when I said loan I ment a bank loan with interest.

If your relatives gave you a zero-interest loan, here's my financial advice to your family:

1)Borrow as much money as you POSSIBLY can from said relatives, at 0% interest
2)Invest in something. Stocks if you like to live dangerously, CDs or bonds if not.
3)Pay back loans in a few years. Teach relatives an important lesson about the time value of money.
4)STOP POSTING ABOUT HOW POOR YOU ARE, WHEN YOUR FAMILY IS OBVIOUSLY NOT AT ALL POOR!

 

[Doggiedog]

Originally posted by: DP

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+.

dear God... that is so crazy to even think about that. 500k here in arkansas would get you a very very nice house in an awesome neighborhood.

Take a look at what $500K can get you around here. Look at this crap. And that is a TERRIBLE neighborhood too.

Look at some of these listings.

 

[blackdogdeek]

Originally posted by: MySoS

Originally posted by: blackdogdeek

you said the idea of a mortagage was stupid and that we should pay for everything up front.

your last post states that you didn't pay for your house upfront, but borrowed money from your relatives(or at least that's what i take your meaning to be), which is in essence, A LOAN.

and you continue to insist that poor means you can have 4 cars, each paid for in cash.

and just for reference, the american heritage dictionary defines "poor" as:

1. Having little or no wealth and few or no possessions.

Well when I said loan I ment a bank loan with interest.

ok i'll give you that. however, your parents still didn't pay for the house up front the way you insist we all should.

also, you should be careful telling people how to handle their money and how poor you are when your entire idea of money and what poor means comes from your parents.

otherwise, the people on this forum who actually are poor are going to flame you to no end.

 

[Mo0o]

Originally posted by: Doggiedog

Originally posted by: DP

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+.

dear God... that is so crazy to even think about that. 500k here in arkansas would get you a very very nice house in an awesome neighborhood.

Take a look at what $500K can get you around here. Look at this crap. And that is a TERRIBLE neighborhood too.

Look at some of these listings.

"Immaculate" Would not be the first word i think of when i see that house

 

[rh71]

well I'll say this much for how your parents have taught you... you will spend wisely. You will never be the type to splurge for the things you love... it's too bad because that's all we're on this earth to do... to enjoy ourselves. People can choose to be stingy... but I'm going to enjoy what I can get from being hard working.

 

[isasir]

I don't think anyone has asked this yet, but, MySoS, how old are you?

The answer to this would explain a lot.

 

[PanzerIV]

MySoS you truly have no concept of what poor really is. There are some people that need donations for winter coats, assistance in having bills paid so they can have water, gas, etc. on, can't eat one or more nights a week or sleep in a car. If those people were as "poor" as you they wouldn't complain one bit.

 

[Mo0o]

Originally posted by: rh71
well I'll say this much for how your parents have taught you... you will spend wisely. You will never be the type to splurge for the things you love... it's too bad because that's all we're on this earth to do... to enjoy ourselves. People can choose to be stingy... but I'm going to enjoy what I can get from being hard working.

With 4 cars it seems like his parents dont have trouble spending money on themselves either. but i bet hell will freeze over before they give to charity

 

[YetioDoom]

Originally posted by: MySoS

Originally posted by: Mo0o

Originally posted by: pyonir

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

LMAO....okay....

I bet his parents are Asian and cheap. BIG difference from poor

Yes my mother is Vietnamese. She is mainly the one who keeps saying how poor we are.

BIG difference between poor and cheap. Your parents are very cheap, and as a result are weathly. Many weathly people are cheap. Read The Millionare Next Door.

 

[Looney]

Originally posted by: Mo0o

Originally posted by: rh71
well I'll say this much for how your parents have taught you... you will spend wisely. You will never be the type to splurge for the things you love... it's too bad because that's all we're on this earth to do... to enjoy ourselves. People can choose to be stingy... but I'm going to enjoy what I can get from being hard working.

With 4 cars it seems like his parents dont have trouble spending money on themselves either. but i bet hell will freeze over before they give to charity

Probably not, if they considered themselves poor.

 

Shens on this user, his family, his existence.

 

[Bryophyte]

Originally posted by: pyonir

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

LMAO....okay....

LOL, we tell our kids the same thing. Doesn't make it so.

 

[Mo0o]

This threads over, MySos has already owned himself pretty hard

 

[Kelvrick]

Originally posted by: Mo0o
This threads over, MySos has already owned himself pretty hard

Not quite enough. I'm adding him to my list.

 

[ArmenK]

Didn't you want to be an actuary? Do you actually think you can rationally put prices on things when you don't even have a concept of money?

 

[Toasthead]

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.

Bankruptcy and debt are two very different things. My wife and I recently purchased a home in Sacramento also, but there is NO WAY we could buy it with cash, up front.

How old are you parents? How long have they lived in this house they have free and clear? Do you plan on living with your parents forever, because its gonna take you a LOOOONG time to save up enough money to buy a house free and clear.

I purchased my home 2 years ago and its been appraised for 200k more than I paid for it. So, i have actually MADE money buy taking on some debt. Debt isnt always bad...its the inability to manage it that sinks people.

 

[MySoS]

2 weeks ago I had to buy books for school, and my parents reminded me how much going to school is costing them and it is a public school. They kept talking about how little money they have, and such. My parents spend all of their money on me and my brother though, we are the ones with the newer cars and such. But I don't think they are cheap.

 

[MySoS]

Originally posted by: ArmenK
Didn't you want to be an actuay? Do you actually think you can rationally put prices on things when you don't even have a concept of money?

I do have a concept of money.

 

[Doggiedog]

Originally posted by: MySoS
2 weeks ago I had to buy books for school, and my parents reminded me how much going to school is costing them and it is a public school. They kept talking about how little money they have, and such. My parents spend all of their money on me and my brother though, we are the ones with the newer cars and such. But I don't think they are cheap.

So now they are cheap AND have their priorities all screwed up?

They bitch more over having to buy books for school over having a new car?!?

 

[Mo0o]

Originally posted by: MySoS
2 weeks ago I had to buy books for school, and my parents reminded me how much going to school is costing them and it is a public school. They kept talking about how little money they have, and such. My parents spend all of their money on me and my brother though, we are the ones with the newer cars and such. But I don't think they are cheap.

Ok , retard, if your parents can afford to buy both of you cars, YOU ARE NOT FVCKING POOR. If you can afford to go to college, even if it is a public school, YOU ARE NOT FVCKING POOR.

YOU GOD DAMN RETARD, stop listening to your parents and actually laern about the concept of finances. You dont even know how much your parents make.

 

[miri]

Because sometimes paying for tuition, car, gas, groceries, rent, books, electricty, phone cost more than I make, therefore I am in debt.

 

[TitanDiddly]

People are stupid.

 

[Anubis]

if you eat 3 meals a day you are not poor, thats a easy way to loook at it, poor people have trouble getting 1 meal a day

 

[MySoS]

Originally posted by: Mo0o

Originally posted by: MySoS
2 weeks ago I had to buy books for school, and my parents reminded me how much going to school is costing them and it is a public school. They kept talking about how little money they have, and such. My parents spend all of their money on me and my brother though, we are the ones with the newer cars and such. But I don't think they are cheap.

Ok , retard, if your parents can afford to buy both of you cars, YOU ARE NOT FVCKING POOR. If you can afford to go to college, even if it is a public school, YOU ARE NOT FVCKING POOR.

YOU GOD DAMN RETARD, stop listening to your parents and actually laern about the concept of finances. You dont even know how much your parents make.

I said I realize my family probably isn't actually be poor. But I dont think we are rich ethier.

Yes i shouldn't have used the word poor, that was to strong. More like lower middle class.