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Joined: Feb 2013
Posts: 6,458
Campfire Tracker
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OP
Campfire Tracker
Joined: Feb 2013
Posts: 6,458 |
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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Joined: Oct 2011
Posts: 8,573
Campfire Outfitter
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Campfire Outfitter
Joined: Oct 2011
Posts: 8,573 |
I wouldn't be surprised if that were true.
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Joined: Nov 2009
Posts: 15,886 Likes: 1
Campfire Ranger
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Campfire Ranger
Joined: Nov 2009
Posts: 15,886 Likes: 1 |
Dont they say that around 50% of the population is on the gov. tit? If so, it wouldnt surprise me, either.
Old Turd- Deplorable- Unrepentant Murderer- Domestic Violent Extremist
Just "Campfire Riffraff and Trash"
This will be my last post! Flave 1/3/21
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Joined: Oct 2005
Posts: 79,321 Likes: 2
Campfire Oracle
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Campfire Oracle
Joined: Oct 2005
Posts: 79,321 Likes: 2 |
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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Joined: Feb 2006
Posts: 43,954 Likes: 21
Campfire 'Bwana
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Campfire 'Bwana
Joined: Feb 2006
Posts: 43,954 Likes: 21 |
Always better to just look broke, than actually be broke.
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Joined: Dec 2009
Posts: 31,630 Likes: 5
Campfire 'Bwana
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Campfire 'Bwana
Joined: Dec 2009
Posts: 31,630 Likes: 5 |
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
Founder Ancient Order of the 1895 Winchester
"Come, shall we go and kill us venison? And yet it irks me the poor dappled fools, Being native burghers of this desert city, Should in their own confines with forked heads Have their round haunches gored."
WS
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Joined: Apr 2006
Posts: 14,999
Campfire Outfitter
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Campfire Outfitter
Joined: Apr 2006
Posts: 14,999 |
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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Joined: Jan 2015
Posts: 735
Campfire Regular
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Campfire Regular
Joined: Jan 2015
Posts: 735 |
I like liberals-------------------------------------they make good bear bait!
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Joined: Jan 2001
Posts: 29,942 Likes: 10
Campfire Ranger
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Campfire Ranger
Joined: Jan 2001
Posts: 29,942 Likes: 10 |
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.
1Minute
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Joined: Mar 2006
Posts: 645
Campfire Regular
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Campfire Regular
Joined: Mar 2006
Posts: 645 |
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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Joined: Dec 2007
Posts: 17,048
Campfire Ranger
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Campfire Ranger
Joined: Dec 2007
Posts: 17,048 |
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.
BAN THE RAINBOW FLAG! PERVERTS OFFEND ME!
"When is penguin season, daddy? I wanna go kill a penguin!" ---- 4 yr old Archerhuntress
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Joined: Nov 2009
Posts: 15,886 Likes: 1
Campfire Ranger
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Campfire Ranger
Joined: Nov 2009
Posts: 15,886 Likes: 1 |
Always better to just look broke, than actually be broke.
Good advice, Sam! (But most folks dont believe it.)
Old Turd- Deplorable- Unrepentant Murderer- Domestic Violent Extremist
Just "Campfire Riffraff and Trash"
This will be my last post! Flave 1/3/21
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Joined: Jan 2006
Posts: 69,459 Likes: 15
Campfire Kahuna
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Campfire Kahuna
Joined: Jan 2006
Posts: 69,459 Likes: 15 |
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.
“In a time of deceit telling the truth is a revolutionary act.” ― George Orwell
It's not over when you lose. It's over when you quit.
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Joined: Jan 2005
Posts: 57,494
Campfire Kahuna
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Campfire Kahuna
Joined: Jan 2005
Posts: 57,494 |
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...
We can keep Larry Root and all his idiotic blabber and user names on here, but we can't get Ralph back..... Whiskey Tango Foxtrot, over....
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Joined: Aug 2010
Posts: 1,912
Campfire Regular
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Campfire Regular
Joined: Aug 2010
Posts: 1,912 |
ROFLMAO Made my day. 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
There are no problems that cannot be resolved by the suitable application of high explosive.
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Joined: Jun 2012
Posts: 10,068
Campfire Outfitter
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Campfire Outfitter
Joined: Jun 2012
Posts: 10,068 |
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.
Mercy ceases to be a virtue when it enables further injustice. -Brent Weeks
~Molɔ̀ːn Labé Skýla~
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Joined: Dec 2013
Posts: 14,817 Likes: 7
Campfire Outfitter
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Campfire Outfitter
Joined: Dec 2013
Posts: 14,817 Likes: 7 |
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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Joined: Jan 2006
Posts: 69,459 Likes: 15
Campfire Kahuna
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Campfire Kahuna
Joined: Jan 2006
Posts: 69,459 Likes: 15 |
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.
“In a time of deceit telling the truth is a revolutionary act.” ― George Orwell
It's not over when you lose. It's over when you quit.
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Joined: Feb 2004
Posts: 19,252 Likes: 4
Campfire Ranger
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Campfire Ranger
Joined: Feb 2004
Posts: 19,252 Likes: 4 |
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
For liberals and anarchists, power and control is opium, selling envy is the fastest and easiest way to get it. TRR. American conservative. Never trust a white liberal. Malcom X Current NRA member.
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Joined: Jun 2006
Posts: 46,161 Likes: 7
Campfire 'Bwana
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Campfire 'Bwana
Joined: Jun 2006
Posts: 46,161 Likes: 7 |
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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