Who wants to complain about the economy with me?

[Nrvsbride]

Ok for anyone that's bored I want to rant about the economy. (Like we don't already have 90 threads on this topic right? LOL).

 

Ok we all know the economy is hurting and oil is high, blah, blah, blah. Here is my question. How in the heck do people have mortgages and children? Here's what I don't get. Let's assume a middle class person makes $45-50k. That would mean about $30-36k after taxes let's say. So how then is someone supposed to support a child (or even 2 or 3?), pay $5,000 a year for retirement funds, pay their mortgage, pay into their healthcare, afford gas and increasing food prices, and still be able to save? And this is assuming that the person has no student loans or credit card debt or automobile financing. Wtf? I don't get it. Am I slow? Someone please explain it to me or feel free to join in and bitch with me.

[Davematthews16]

I agree with you 100%! I guess that's why soooooooo many Americans are in debt. You can't afford one thing so you put it on a credit card, then have to pay interest on that, then more stuff goes up in price so you take out another credit card ect....My FI and I try to avoid credit cards if at all possible. We each have our debit cards, and a shared credit card for "Emergencies" It's hard to save money when everything is going up, up, up! It's scary out there!

[trance_angelx0x]

The sad fact is that the people (most, but not all) with the big house the 2 new cars and the 2 kids are in debt out of their a$$.

[Kristy!]

My job is to collect Christmas presents for children. (I work for The Salvation Army.) It is so hard to get donations this year because people can barely afford their own bills, let alone spend money on other people's kids. It's so sad.

[Nrvsbride]

I just don't get it. I don't have a mortgage, I don't own a car, have no credit card debt, have no retirement funds, no children, and I still am living paycheck to paycheck. There are times when I have to pay for something with a credit card just b/c I don't have the money for it.

 

How did this happen? LOL. About 2 years ago I used to be able to save so much money. Now I am literally counting change hoping I can afford a damn bagel.

[Virg]

I don't have kids, nor a house, and I am in debt up to my a$$. THANK YOU STUDENT LOANS! ARGH

[Nrvsbride]

Quote:

Originally Posted by Kristy! My job is to collect Christmas presents for children. (I work for The Salvation Army.) It is so hard to get donations this year because people can barely afford their own bills, let alone spend money on other people's kids. It's so sad.

See that is so awful! Every year my family and I would each spend $500 on buying tons of toys from Toys R Us and then donating them to different charities including the salvation army. I just can't do that this year. I couldn't even give a $10 donation right now, that's how pathetic my finances are.

I really hope things change. I don't know how they are going to but I pray that they do.

[Virg]

At least I have a car!

0% financing. THANK YOU GM.

 

BTW, for those of us that carry a balance, and have a MASTERCARD. Call them every 6 months as they can reduce your interest rate, and you can save HUNDREDS! I did this when I first got my card (even when I had 0$ balance) and I now have it down to the lowest amount possible.

[trance_angelx0x]

That's very sad because more people are finding themselves going to food banks and places like the Salvation Army who didn't need to before.

 

Quote:

Originally Posted by Kristy! My job is to collect Christmas presents for children. (I work for The Salvation Army.) It is so hard to get donations this year because people can barely afford their own bills, let alone spend money on other people's kids. It's so sad.

[Nrvsbride]

Quote:

Originally Posted by Virg At least I have a car! 0% financing. THANK YOU GM. BTW, for those of us that carry a balance, and have a MASTERCARD. Call them every 6 months as they can reduce your interest rate, and you can save HUNDREDS! I did this when I first got my card (even when I had 0$ balance) and I now have it down to the lowest amount possible.

Most credit cards will do this but you have to have good credit. If you have bed credit you are SOL. Also I read in economic journals that banks are going to raise interest rates on credit cards b/c they are being hit hard. WTF?