Posted on 08/02/2019 8:47:35 AM PDT by qwerty1234
Glad I never got a sense of entitlement like this.
My neighbors are bankrupt and go on more vacations than I do - the wife has been “putting on airs” for decades. She’ll never change.
About the size of a condo in terms of sq ft. You would probably spend half that for similar size home in most parts of the country.
Don't forget the $1,000+ monthly real estate tax. That's Connecticut for you.
I think I see the problem here. They already have $50k in 'student debt', so they buy a $270k house and at least an $18k car. The credit card debt is actually the worst because the interest rates are insane. These people are morons, and expect us to feel sorry for them for some reason.
WTF?
This is pretty easy to do if you're a moron. I have 3 credit cards that I more or less rotate purchases through. A few months ago, I bought a new (to me) motorcycle and rather than just writing a check, I put about $13k on one of my credit cards. (which still didn't threaten its limit) Within a week or so I got a note from the CC company letting me know they'd increased my credit limit by another $10k. I paid the entire balance when it was due, but the limit is still $10k higher than it was.
I believe they thought I'd screwed up, and wanted to make me a debt slave by increasing my limit beyond what (they thought) I could afford. To hell with that. They loan me money all month, and then I pay it off without interest. CC companies really hate folk like me.
The Seattle couple that doesn’t even own their car, yet they “need” a $600K house...sheesh, isn’t there ANY thought of a lower cost of living area?
I’m guessing they both are but she’s worse having gone the limit of a TJMax card. She also thinks she needs a $600 two bedroom home:
https://smartasset.com/mortgage/what-is-the-cost-of-living-in-seattle “Home Prices in Seattle
If you’re looking into buying a home in Seattle, you might be a bit shocked by the high prices. 2018 housing market data from the National Association of Realtors has the median home sales price at $489,600”
Bet if that man who’s using his car for Lyft is losing money. Looking around online, these drivers make about $15-18/hr. Considering the wear and tear on your car, you’re not making anything. Add in if you have an accident and you’re way down deep in the hole.
Oooh, they’ve cut back on gym memberships and organic food purchases! Here’s an idea, don’t buy expensive food for home and don’t eat out. Jog around the block for free or stop drinking expensive Starbucks mocha latte with extra cream.
NO! The rest of would have to foot their bankruptcy debt.
At least they should have consolidated their debt when they got the mortgage. If they could qualify for more. That way they could have dropped the interest rate on the $50K 20% or more.
Why not forgive credit card debt as well? /s
My double wide thats 18 years old, is 350k value in california. Just the house, not the land. About 1000 square feet, no garage.
They're educated, but not learned.
You can find that sort of property on an acre lot in rural North Carolina for less than $50K. I’ve seen well-kept singlewides for $20K or less on a half acre.
I was raised by family who’d come out of the Depression. Thankfully, hubby, too. Wants are not needs. Stick to the basics and you’ll be fine.
These loonies can’t live an hour when a cell tower goes out. They wouldn’t survive a week with real hardship. Can’t tell you how many times I’ve heard people freak if you tell them to purchase an extra can of corn for the pantry. They holler that they’d rather their children die than to keep a full pantry. Am now realizing that is part of the abortion mentality.
I agree with both of you, but they will never pay off $50,000 in credit card debt. I have never been bankrupt, nor can I imagine myself going bankrupt, but for people this young and this much in debt there is no way they would change their lifestyle enough to get out of it. Maybe they could if they started over. I bet that debt is going to accumulate, not decrease. Eventually they will find themselves using one card to pay another card, then it’s all over. Better to get it out of the way. I’ve seen it too much.
They should all listen to Dave Ramsey and learn something.
I can’t seem to copy and paste from the article. However, it states they had to pull the credit card out of the freezer to pay for gifts for two weddings they needed to go to. Plus a rental car to get to the wedding.
SO, once again they CHOSE to spend money they did not have. They did not want to be embarrassed by saying to their friends or relatives that they could NOT AFFORD to give a gift or attend a wedding.
THESE PEOPLE ARE F*CKED. They will never learn until they seek professional money management help.
TJMax and Marshalls are both discount stores. They get the discontinued/overstock clothing from Macy’s. I have shopped at Marshalls for years. I am wearing a polo shirt I bought there two weeks ago. I paid $29 for a Ralph Lauren shirt I am wearing. I would have to buy 258 Polo shirts to get into that much debt at that store.
Her pared down income is still more than twice ours. House is paid off however taxes have gone through the roof. Vehicles are 20 and 25 years old but in working condition, knock on wood.
Hubby mows the yard with a free mower he refurbished instead of hiring a yard man like the neighbors do. We got on youtube and refurbished a free used washing machine when ours of 25 years finally bit the dust and when lightening zapped the freezer. Bet none of those people in the article understand the purpose of freezers.
Yesterday and today, I’m using our well used carpet cleaning machine instead of hiring out the job. Thankfully, no manicure or designer clothing to mess up. Sure, we want new flooring but that isn’t in the budget. That’s a want, not a need.
As usual, I’m cooking dinner at home instead of ordering out and having that Lyft man in the article deliver it and expecting a tip for doing nothing more than his job (and he probably would have nibbled on the fries). I pushed the grocery cart through the aisles to find sales rather than call ahead to order and let yet another stranger who hasn’t washed their hands handle my food and pick out the most expensive items.
We scrimped and saved so the kids don’t have outstanding college loans. Why are we now expected to pay off everyone else’s?
The pets were all strays so no expensive pedigreed purchases. The dog had an expensive vet bill (unavoidable - man parts infection) this month but we paid it in full. He’s getting a bath as soon as this is posted not from a shop but from the backyard hose.
Now, remind me why I should shed a tear over those silly people?
A $270K mortgage and $68K in auto loans credit card debt!
Plus their unpaid college loans of $51K....
On $130K a year there's no reason they can't be debt free in 4 or 6 years except for their mortgage.
They just need to stop whining and start living within their income.
Bam! 15 minutes and the dog got his bath and I didn’t waste $$$ at a groomer’s. That’s how to stay on budget.
I don’t know if I feel sorry for people who end up at this point. THey spent the money, so they probably had fun on vacations, or bought really nice stuff, or did really cool things, none of which I did until I had saved up enough money and was making enough to afford it.
On the other hand, I went to college, and I got a job, and managed to save enough money to retire in peace, making less than what they are making. I didn’t borrow a ton of money, I went to a college I could afford. i bought cheap house and saved my money, and bought reasonable cars, and vacationed simply, and had a wife and 2 kids, and for the money they are making, they should be millionaires by the time they are 40, not whining about how hard it is. and borrowing money at 18% interest.
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