Average Income

[Brute 23]

There are some people in bad shape but there are A LOT of people who put themselves there. They choose to pay direct tv $130 a month rather than put that in to savings. They choose an iphone rather than the $20 nokia I had for several years. Cigarettes, beer, tires, truck payments.... eating out.... houses. Its really hard for me to feel sorry for them.

I would bet a lot of those people who make $30K a year take no initiative to grow. They show up get a pay check and go home. (For the record there is nothing wrong with $30K a year if you live right.)

This morning I called Direct TV because my monthly amount jumped from $90 to $130. Some promotion ran out so thats the new cost per month. :shock: I cancelled it right then and there. Has nothing to do with can I afford it on a monthly basis. Where I am in my wealth building paying over $100 a month for tv is not in my best interest... and I probably shouldnt be paying $90.

All those little $30 jumps start to add up to $200... 250... 300 per month.... which looks like a couple grand over a years time. 5 years from now $10K went to those little $30 add ons. Then when you loose you job your paying bills with credit cards instead of having that $10K savings.... Hope HBO was worth it.

 

[skyhightree1]

Brute,
I agree but I am like this I put money away for a rainy day but life is short I spend my money on anything I want and can afford. I put alot of money away for wife kids incase something happens they will be well cared for if they manage it properly but my life insurance policies will well take care of that.

 

[highgrit]

Every financial decision needs to be made for a tax reason. It's not how much you make, but how much you can keep that matters.

 

[skyhightree1]

High thats true taxes burn my butt up.

 

[herofan]

One thing everyone does need to take into account is sometimes there is inheritances and investments that people can be making money off of as well.

That may be the case. I don't know if that's the norm for most people; perhaps it is. The thing that I don't understand is that everybody complains about high gas prices, high grocery prices, etc., but it doesn't really affect very much in my neck of the woods. I don't personally know anyone who acts like they are just "getting by." I don't know any Donald Trumps, but everybody seems to be doing ok, even though they complain.

Personally, I think if gas were $10 a gallon, it would enhance complaining in my area, but i doubt the roads would be less traveled or the restaurants would have less customers. Times are so bad, yet try going to Applbee's around here on the weekend, and there will be a 30 minute wait at any given time, and the parking lot will be full of nice cars.

 

[skyhightree1]

Hero I have been thinking that for years. I wondered if the economy is bad why is it malls are loaded and record sales have been achieved in the last few years to me its backwards. I know times are tough as far as job market and job loss but the people who have jobs are spending like normal. I agree about the fuel prices going to 10 a gallon nothing would change at all.

 

[highgrit]

10 dollar a gallon fuel will slow me down. And it's going to be 5 dollars by summer maybe more. I wonder how long it will be before they get free gas??

 

[skyhightree1]

LOL High you know we can't let gas prices slow us down we got millions of illegal immigrants that depend on us working so they can get public assistance and have anchor babies and get free medical.

 

[backhoeboogie]

Even when I was "debt free" way back when(20 years ago?) I still had car insurance, house insurance, health insurance, property taxes and other payments.

My CPA had me buying equipment and leasing it back to my corporation a few years back when I was sidelining. That's a nice racket to get in to. Makes more sense to lease things that way. A direct write off for the corporation. Minimal profit and depreciation for me.

Going in debt to make profits is okay with me. Going in debt for toys ain't. My tractor is a '78 that was bought with cash etc. all farm equipment and cattle are mine. The cat, the hoe, trailers etc are mine.

Bank holds the title to my house with a line of credit. I go in and out of debt there frequently.

I bought more land recently. Cows gotta pay for that. Every time I have bought land and sold it I profitwell.

 

[skyhightree1]

Backhoe Ditto here about the business buying and leasing my cpa guides me on what i should do with that kind of stuff. I however try not to finance land and would rather use my toys as debt lol my last toy I bought that I used as my debt was my 1999 fourtrax 300 honda 4 wheeler lol I want a rtv with cab and ac that will be my debt. I can't say all my tractors were paid for with cash but some were. The land I wrote about in recent post I have the cash to purchase which is coming out of my row crop farm $$ I wouldn't finance it out of my personal $

 

[Ryder]

I don't think that we are out of this depression yet, but some people think we are. And I've noticed more people financing their futures away again already. Making the same mistakes again.

I don't think the depression has even started yet.
The bottom is a long ways down from here.
Good grief! Look at the debt that can't be paid. :shock:

 

[chippie]

Sales are starting to slump for retailers that rely on lower to middle income families.

http://www.bloomberg.com/news/2013-...ves-sweat-slow-february-start-in-e-mails.html

 

[HOSS]

My wife has a business (she is in the process of selling it due to government regulations getting crazy) where she does covert home inspections for mortgage companies and lien holders. She basically takes pictures and observes the property for vacancy, damage etc. on homes where payments are behind, foreclosure or bankruptcy cases. She has about a thousand properties per month that she (or her employees) check. I go with her now and then. I see it all the time were people will not make a house payment but will have two new cars, bass boat and a new UTV sitting out front. All the toys and cars are depreciating items but they make those payments.......the house is the only thing they have that has the opportunity to gain in value or is actually appreciating but they won't make their payment on it.

 

[Jogeephus]

I noticed in the paper where a guy here in town is fixing to lose his house again. His wife just bought herself a new car. Funny thing is, he has a good paying job with the government and is the head guy in this area. Go figure.

 

[Brute 23]

That is the stupidity of it. You pay interest for some one to lend you money on some thing going down in value. :bang: Makes no sense other than if you picture a 2yr old throwing a fit on the floor screaming "I want"... "I want"... "I want". I would bet $100 most of the financed items... especially with motors... are impulsed. They are not waiting 3 yrs and planning how to finance that UTV.

When I get the itch for some thing I got to have it. When I got the itch for a boat it took about 2yrs for me to pull the trigger. That was just about the right amount of time to research, watch the used boat market, and save up the cash.

 

[TexasBred]

Cigarettes, beer, and wimmen.

This ain't waste...these is necessities. :cowboy:

BTW I'm debt free and have been for ages...no body's business how much or how little of anything I have or don't have or what it's worth.

Am checking into this new Obammy pre-school program tho. Might want to start another family and "reap the benefits" of gov't paid day care.

 

[Brute 23]

Cigarettes, beer, and wimmen.

This ain't waste...these is necessities. :cowboy:

Women I can understand... And beer... Depending on how ugly she is :hide: ... But no excuse for smokes.

 

[James T]

I don't think that we are out of this depression yet, but some people think we are. And I've noticed more people financing their futures away again already. Making the same mistakes again.

I don't think the depression has even started yet.
The bottom is a long ways down from here.
Good grief! Look at the debt that can't be paid. :shock:

And many wonder why the DHS is stockpiling ammunition and why gun owning citizens are stockpiling it too!

 

[Dave]

Cigarettes, beer, and wimmen.

This ain't waste...these is necessities. :cowboy:

Women I can understand... And beer... Depending on how ugly she is :hide: ... But no excuse for smokes.

I gave up women, smoking and beer....... it was the scariest 30 minutes in my life.

Seriously I never smoked, only drink about a 6 pack a year, and I haven't been married for almost 13 years. If it weren't for the fact that I raise cattle i would have millions in the bank.

I have a friend who is a self made millionare several times over. He is one of the hardest working people I ever met. He packs a huge lunch with him every day but never carries cash. He says that if he had cash he would stop at every other store for a bag of chips or a bottle of soda. He says you don't have to worry about the big ticket items because everyone is careful when spending thousands. He says it is the little things that will add up over time to be big expenses.

 

[cowboy43]

In my part of the Country a large part of the minorites seem to all drive new cars and they known how to work the system with free medical care, large tax returns, food stamps, kids get 3 free meals aday at school, they work also but with us paying for a lot of their expenses they make more than we do. I know this guy that does not work but is getting over $9000 tax return and is spending it all to rebuild a old Lincoln. We are the 50% that work supporting the ones livings off of us and it will get worse until they are the majority and we will be living off the land again. You will not believe the number of cars I see with handicap stickers with young obese people that should be working, probably on Social security or disability. I have to much pride to live like that. If you have not seen the movie Tobacco Road make it a point to do so and see how our Grandparents had to exist. :bang: :2cents: