Thread: Driving to the poor house

Yes of course. Reality is that I made the mistake of playing this silly game with you again....but not again. Good day madam!

Quote: Originally Posted by ufcrules1 How do you know they are rich? Also, how many people drive average cars(Camrys/Honda's/etc.) who are actually rich? Don't kid yourself, just because someone drives a lexus or BMW does not make them rich. Many folks drive average or modest vehicles, though they are wealthy. However, the example I used was valid, you can see by the lack of bankruptcy filings or foreclosed homes in the metro...

Quote: Originally Posted by movin'on Originally Posted by user_id It has? So if you have money you're not suppose to purchase anything that may suggest you have more than the average Joe? Such silliness. The fact is the only people that think its in "poor taste" are the people without money. In the mean time they will display their own form of status symbols.. I can tell you the real "rich" people...

Quote: Originally Posted by Allan Trafton Some truth to this. I don't understand your envious statement. I take it as anyone that doesn't live in a $500k home or drive a luxury car is envious of people who have these. If this is the case then I don't agree. I don't drive a luxury car or live in a $500k house and I'm not envious of those how do. I don't worry or concern myself with what others have. I only worry...

Quote: Originally Posted by user_id Cracked out statistics? Hogwash. What I posted was simply a table comparing consumer debt with GDP. Using personal experience to justify general claims about the economy is just foolishness. Also, with regards to "remembers them vividly". I suggest you read a bit about human memory, because its far from accurate. Human memory is dynamic and actually changes over the years, often to be...

User-id: It's all well and good looking at the consumer debt to GDP figures and saying that consumer debt levels are not dramatically higher. The fact is that they did increase as a percentage of GDP and are only just starting to fall - remember too that a proportion of those debts have actually been written off by the lenders in recent months: http://www.nytimes.com/2009/06/16/yo...edit.html?_r=1 From the above NYT article: Quote: Mr....

Quote: Originally Posted by GeminiGal DH & I have never taken on debt except for housing. We probably lived close to the "millionaire" approach for many yrs and then slowly started to "live". Married, had 3 kids, and still making smart financial decisions. Sure we could have paid cash for a home, but we chose to have lots of cash in the bank and live in a nicer home. Save, save, spend, save ... you...

It's very accurate, and it's pathetic. People don't seem to be able to grasp the fact that continuing to spend money you don't have to keep up with the Joneses puts you in debt over your head very, very fast, and takes a loooooong time to recover from. Although living within your means and saving money requires discipline and sacrifice up front, it eventually allows you to live the the "keep up with the...

Quote: Originally Posted by GeminiGal Um, the majority of folks in the US own homes and yes they have loans on those homes - where are you going w/ your numbers? Much of the mortgage debt is due to refinance. The author points this out. Consumers are paying off cc debt - yes it is still a problem - but from what is being reported they are doing quite well paying that debt off. Yes, this is good news. We need more debt paid off....

Quote: Originally Posted by GeminiGal Please, not the "millionaire next door" mantra again. I am not be uber wealthy (not inherited) but DH and I have worked hard to get where we are at. Career wise, DH would not be where he is at today driving in an old beater car and dressing ho-hum. Much of what you see in corporate America is necessary to get ahead. Yes, again , there are those that live hand-to-mouthto...