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Parking Lot Off-topic chatter pertaining to movies, TV, music, video games, etc. |
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11-19-2009, 11:29 AM | #1 |
Playmaker
Join Date: Nov 2006
Location: Richmond
Posts: 3,261
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Do you live within your means?
Read this last night and made me think of asking the question who here lives within their means, because obviously the US in aggregate does not. I think most people like to think they do, just like most people like to think all congressman are corrupt except for the one representing their district (if they voted for him) ((ive never voted before so I think they are all corrupt)).
I would like to say I do, but honestly I think living within your means also includes saving for retirement if you plan on having a retirement and I save very little for retirement (if you want to off-yourself at age 65 then saving very little for retirement would be within your means I guess). I would count myself in the category of not living within my means due to my lack of saving for retirement combined with my love of having fun. I think part of the whole holocaust on capitalism taking place is partly because people say hey I don’t want to save, I don’t want to pay for the essentials, I just want to pay for the discretionary stuff, fun stuff. Let the government pay for the basics, deduct the money from my paycheck every other Friday as long as I don’t think about it no harm done, or better yet take the money from rich people, my boss has plenty of money….. http://www.foxnews.com/story/0,2933,575565,00.html?loomia_ow=t0:s0:a4:g4:r3:c0. 000000:b0:z5 On a side note, did any of you watch Harry Reid and the other senate big wigs last night talk about their new health plan proposal. Harry told a story of a lawyer that came up to him and said Harry im rich I don’t need this health care stuff, but my daughter is about to turn 23 and has cerebral palsy and isn’t going to be able to get health care coverage on her own, what is she supposed to do, she needs this. Really? This is what drives me nuts. This lawyer didn’t want to change his lifestyle in order to take care of his own daughter, instead he wanted everyone else to pay for the cost of her health care. Of course who wouldn’t, you can be a self proclaimed rich lawyer, eat out every night, have a vacation home, live in a nice ass community, play golf every weekend, and drive a new car every 2 years or you can take care of your own. Easy choice when you can just get someone else to pay for it.
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11-19-2009, 11:57 AM | #2 | |
Living Legend
Join Date: Oct 2004
Location: chesapeake, va
Age: 60
Posts: 15,817
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Re: Do you live within your means?
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11-19-2009, 12:34 PM | #3 | |
Playmaker
Join Date: Mar 2006
Location: Northern,Va.
Posts: 2,706
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Re: Do you live within your means?
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11-19-2009, 01:08 PM | #4 |
Living Legend
Join Date: Oct 2004
Location: chesapeake, va
Age: 60
Posts: 15,817
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Re: Do you live within your means?
I wish. I'm pretty conservative when it comes to spending. The boat and truck I just purchased this summer I pretty much paid cash for them. Our house payment is low enough that I don't ever feel a drain to make the payment. Everything else is paid for at this time put my wife is looking hard for a new home. Our biggest problem is we so few bills its easy to waist money so we stick to pretty tough savings plan. That will change some if we move but I refuse to buy a home that puts a drain on us.
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11-19-2009, 01:16 PM | #5 | |
Playmaker
Join Date: Mar 2006
Location: Northern,Va.
Posts: 2,706
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Re: Do you live within your means?
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11-19-2009, 12:20 PM | #6 |
Living Legend
Join Date: Mar 2006
Location: PA
Age: 45
Posts: 17,460
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Re: Do you live within your means?
Absolutely, I can't afford to live beyond my means!
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11-19-2009, 12:31 PM | #7 |
Playmaker
Join Date: Mar 2006
Location: Northern,Va.
Posts: 2,706
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Re: Do you live within your means?
I drive a 10 year old truck , have a 27 inch TV . I feel lucky I have never needed to have the " most toys " . I love the fact that I can buy anything to eat at the grocery store , and I feel we have a hell of alot to be thankful for .... USA USA USA Nice post
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11-19-2009, 01:05 PM | #8 |
Playmaker
Join Date: Nov 2006
Location: Richmond
Posts: 3,261
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Re: Do you live within your means?
I love my 27 inch tv. My roommate finally broke down and bought a new remote for it, chaning channels is so awesome.... I blow a lot of money at bars and drinking in general other than that I dont have a need for much else.
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11-19-2009, 12:32 PM | #9 |
Playmaker
Join Date: Feb 2004
Location: Frederick, MD
Age: 45
Posts: 4,628
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Re: Do you live within your means?
Unfortunately at this time my wife and I do not.
I'm working on getting a 2nd job to help pay down the debt we've incurred since having 2 kids. We bought our current house at the apex of the housing marking rise as well as paying just about a mortgage payment for child care each month, and it's caught up to us. We've effectively cut our monthly expenses, but would like to continue to sock away at the debt we have. My wife and I know it's going to be a long tedious process and any extra coinage at the end of each month goes towards our debt.
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11-19-2009, 02:49 PM | #10 | |
Gamebreaker
Join Date: Aug 2005
Posts: 12,876
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Re: Do you live within your means?
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Hey man no worries! You are living the life of 95% of America. Kids are not cheap and can derail anyones finanical plans.
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11-19-2009, 12:40 PM | #11 |
A Dude
Join Date: Feb 2005
Location: Newtown Square, PA
Age: 45
Posts: 12,426
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Re: Do you live within your means?
I live within means. 13% of income is saved towards retirement, 6% is saved towards my daughters' college educations, and another 5% or so is saved just to grow the cash balance.
Only debt is the mortgage and 1 car payment, the student loans were paid off a few years ago. Best thing I ever did was live at home with my parents for the first 15 months after graduating college. Took my salary that year and paid down student loan debt. Allowed me to get it paid off by age 27. I'd advise any college kid saddled with more than $10K in student loan debt to do the same, which I know includes an awful lot of college kids.
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11-19-2009, 12:59 PM | #12 | |
Playmaker
Join Date: Nov 2006
Location: Richmond
Posts: 3,261
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Re: Do you live within your means?
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11-19-2009, 02:03 PM | #13 | |
A Dude
Join Date: Feb 2005
Location: Newtown Square, PA
Age: 45
Posts: 12,426
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Re: Do you live within your means?
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Unless you're saying they should stay home with mom and dad to sock away money to buy a house, that I can get on board with. But only if there's enough cash flow to sustain mortgage payments and student loan payments when out on your own. There's too much focus on the income statement in the heads of Americans, and not nearly enough on the balance sheet.
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God made certain people to play football. He was one of them. |
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11-19-2009, 12:42 PM | #14 |
A Dude
Join Date: Feb 2005
Location: Newtown Square, PA
Age: 45
Posts: 12,426
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Re: Do you live within your means?
PS If you're living beyond means, you're robbing yourself of retirement years.
Sometimes you gotta do it if you get laid off, for instance. Can't help that. But it's vitally important to pinch the pennies as tightly as possible and avoid going into debt as best you can, because it ultimately just robs you of freedoms later in life.
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God made certain people to play football. He was one of them. |
11-19-2009, 12:55 PM | #15 | |
Gamebreaker
Join Date: Aug 2005
Posts: 12,876
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Re: Do you live within your means?
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I hear you and for the most part have a healthy finincial portfolio but I hate people that are cheap and pinch ever damn penny. God lord live a little, you only have one life. And if the only reason you are pinching every cent is so you can have quicker retirment, god bless you. I personally rather work then sit in my easy chair and watch the Price is Right every day at 60. My brother in law's dad was just like that pinched every penny so damn cheap. He retired at 55 I belive, he went about 4 years of watching TV everyday, guess what now he has a job at a health club becasue he was so bored. I HATE cheap people, I rather be broke and giving then rich and cheap, any day! This was a general statement not targeted at you S10.
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When life gives you paper jams, turn them into paper footballs! |
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