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Terryk Offline OP
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There are tons of recent articles with the same story that 46-60% (or so) Americans can't deal with an unexpected 400 dollar bill. So if they need a car repaired it sits. To pay this unexpected bill, people would have to borrow money or sell something to cover the 400.



http://www.washingtonexaminer.com/f...th-emergency-400-expense/article/2592269


Last edited by Terryk; 05/27/16.
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I wouldn't be surprised if that were true.

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Dont they say that around 50% of the population is on the gov. tit? If so, it wouldnt surprise me, either.


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I could deal with a $400 bill. I just couldn't deal with that pic of Whoopie Goldberg that they're going to put on the fuggin' thing.

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Always better to just look broke, than actually be broke.




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Originally Posted by Bristoe
I could deal with a $400 bill. I just couldn't deal with that pic of Whoopie Goldberg that they're going to put on the fuggin' thing.


Voted best post of 5/27/2016


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Have their round haunches gored."

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Originally Posted by SamOlson
Always better to just look broke, than actually be broke.





Words to live by>


The Mayans had it right. If you�re going to predict the future, it�s best to aim far beyond your life expectancy, lest you wind up red-faced in a bunker overstocked with Spam and ammo.


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yep


I like liberals-------------------------------------they make good bear bait! grin
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Know lots of folks with decent incomes that live check to check. Most are hip deep in loans to acquire their toys, and as soon as something is paid off they go into debt for a new one.

Debt free for years and absolutely love it. If the house burned tonight, I could write a check for a new one in the morning.


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I've been a huge fan of Dave Ramsey (financial guy with a radio program, "debt is dumb" is his tagline, and he likes guns).

I'd encourage everyone to live within their financial means and become debt free.

Poole



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Originally Posted by kaywoodie
Originally Posted by Bristoe
I could deal with a $400 bill. I just couldn't deal with that pic of Whoopie Goldberg that they're going to put on the fuggin' thing.


Voted best post of 5/27/2016


I second the nomination.

But it sure beats a stack of Harriet Tubmans or a sack of Sacagaweas.



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Originally Posted by SamOlson
Always better to just look broke, than actually be broke.





Good advice, Sam!

(But most folks dont believe it.)


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We paid off the last bill about 7 years ago. My retirement income isn't great but with no bills, its very livable.

A lot of younger people can't get it through their heads that an extra mortgage payment early in the term will multiply the saving at the end of it. If you make a $1000 extra payment on the principle, assuming 4% interest, each year you save $40 in interest. After 25 years, you've saved $1000 in interest so that 1 single early payment has cut your end-of-term debt by $2000. There are some good interactive amortization tables available online that will show you what happens if you can make that same payment every year. It's amazing how much money it will save you.


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Wife and I are lucky. I can't remember when we didn't buy anything with cash.

I'm sure our credit rating sucks though.

Have never paid a dime in CC interest either.

Don't live fancy or have tons stashed away either, but sure feel better never having payments...


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ROFLMAO Made my day.
Originally Posted by kaywoodie
Originally Posted by Bristoe
I could deal with a $400 bill. I just couldn't deal with that pic of Whoopie Goldberg that they're going to put on the fuggin' thing.


Voted best post of 5/27/2016


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Originally Posted by SamOlson
Always better to just look broke, than actually be broke.


True.

I also agree with the statement above about folks having to buy the latest toys...and ALL on credit. Paying cash seems foreign to them. They also seem to go for the longest term possible on loans to keep the payments down, all so they can 'afford' more crap. I did the same when I was younger, but experience (coupled with Suze Orman and Dave Ramsey) put me on a better path. I'm far from perfect when it comes to financial matters but I'm comfortable with the spot I'm in.


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I had a client working in the oilfields making over $200k a year. He ga e me his card number and told me to take $1k out to cover a bill. It kept getting rejected for lack of funds. It finally worked at $600. So this guy was making more money than 90% of the people out there and he didn't have a spare thousand dollars.

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Before the housing crash, people were doing some idiotic things with houses. They'd buy way over their heads thinking about all the money they'd make when they sold it 5 or 10 years later. They didn't think about how much they'd lose to interest in the meantime. Some friends of my brother did that. They were using thrift store furniture in a high dollar house because they couldn't afford decent stuff. They got hurt pretty bad in the crash.

My wife and I got married in '08. 2 years before she'd bought an old house to renovate and resell. It would have been a good idea if the crash hadn't happened. We sold it for slightly more than what she owed on it so we didn't have to go with a short sale but she lost quite a bit of the cash she'd spend on the renovation. The market there still hasn't come up 8 years later so keeping it would have cost us more yet.


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Originally Posted by JoeBob
I had a client working in the oilfields making over $200k a year. He ga e me his card number and told me to take $1k out to cover a bill. It kept getting rejected for lack of funds. It finally worked at $600. So this guy was making more money than 90% of the people out there and he didn't have a spare thousand dollars.


I think the philosophy is to live hard die young and leave a pile of bills for someone else to deal with. Pretty narsistic. But look at our government and how they spend. Not a good leadership example.

kwg


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Originally Posted by SamOlson
Always better to just look broke, than actually be broke.


Good one. And I can't remember the last time I had a problem with a vehicle and got away with only a $400 bill.



A wise man is frequently humbled.

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