Wants vs. Needs and Deep in Debt

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backhoeboogie

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30 years ago I tried borrowing my way out of debt. I just couldn't figure out how to do that so I gave it up. Some folks are still trying to do it.
 

Caustic Burno

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Jogeephus":385vxtjm said:
john250":385vxtjm said:
Wow~I don't think I've seen Rat Fink in 40 yrs.
Did you take her to the show this weekend? http://www.courier-journal.com/article/ ... /811240419

Wow. Nah, she's too modest for that. :lol2: Seriously though, I couldn't see filling my body with ink. Seems this is something that is getting pretty common. It looks expensive to and many people who really can't afford it feel they "need" to do it to show their individuality. I guess they've never heard the old saying about "dress for success".


Here the lower the economic standing the more tatoo's and pit bulls in the yard.
 

dun

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Caustic Burno":1fk5xemg said:
Here the lower the economic standing the more tatoo's and pit bulls in the yard.

Not to change the subject, but..........
Yesterday I had to go to a place on the road behind us. Got out of the truck and the first thing I see is a sign "pitbull puppies for sale". Walked up to the house and this huge pitbull with huge milk dugs comes around the corner. Like a trooper I stood my ground and got nearly licked to death.
 

dun

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Angus Cowman":a29bet61 said:
I have been around several pit bulls and have owned some pit bull catahoula crosses they were very good natured dogs

Same with me. I think it's the oweners should be neutered and the dogs left alone.
 

skyline

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Dun, I love the new tag line. The man was very wise! Unfortunately it appears that a majority of folks don't understand the wisdom in that quote.
 

GMN

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Running Arrow Bill":dpeczj63 said:
Read a story on MSNBC today where a family of 3 on East coast with their 28 yo son who is handicapped had spent around $200,000 to remodel (handicap ramps, new door/entry re-sizing, kitchen & bath remodel) their already ~ $360,000 house. They had an ADJ rate mortage (with $3500 monthly payments), credit cards maxed out, had borrowed from family, etc. Dad was employed as a painter at a college.

Now...

Even in a high living cost area, NO one needs a house that expensive or should have to pay those outrageous prices for "minor" remodeling! This is part of our National delimma...people buying houses up to 50% of their monthly income. There are jobs in other places where cost of living isn't outrageous. Houses that are modestly prices (with same SF of living space).



IMO people like this are too "tied to a leash" with their "town" or area and other "grew up here", etc., reasons to stay in those expensive areas.

The American public is too hung up on a "nice home" mentality (aka keep up with Joneses and/or "success" image) that all logic, common sense, and financial skill has gone down tubes.

No wonder our economy is a disaster!

My heart bleeds canola oil for people like these... The same goes for ranchers and farmers who have "mega-houses" and complain about the price of everything, agricultural products sales, etc. "Move into a smaller, less ostentatious house and all.

I do agree that some people do live out of their means, but sometimes things do happen, unexpected that throw people into a area where they do get in trouble, no fault of their own. These people have a disabled person in their care, are they living beyond their means? I don't know, but I do know that if they live on the East Coast, things are crazy expensive there, with all sorts of building codes/permits to follow. We may think they paid to much to remodel their home for their handicapped son, but all these special features do cost alot of money, ramps, extra wide doors, these are all special need items.

I feel sorry for anyone who wants to do good by their family and gets so far in debt to do it. Maybe they should have had more common sense, I can't say, but I think at the time they did what they thought was best for them, and who are we to judge that?

GMN
 

Earl Thigpen

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Caustic Burno":22ro0g9l said:
The only thing most Americans own today is a note, House, Boat,Car,ATV,Tractor,Furniture etc.
Instant gratifacation has got this country in trouble this debt has finally come home to roost.
I am still amazed when I here someone on TV say we are in this jam because of this or that, it has never crossed their mind it was the person's fault looking back at them in the mirror.

You know CB, I heard from a teenager the other day that this was the fault of the baby boomers! I have yet to figure how she and her teacher in school came to that conclusion.

I told her I was a baby boomer. I didn't own anyone one red cent, my house is paid for and my ranch is free and clear so how is this mess my fault. I suggested it was her fault (she's my Niece) since they live in a $400,000 house with a VRM that's fixin' to come due and her daddy is about to lose his job.

Baby boomers fault indeed!
 

Bez+

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skyline":lvpozgyg said:
Had someone tell me once that your "needs" will always rise to your level of income. The older and dumber that I become, the more sense that statement makes.

I believe some folks "needs" rise well above their level of income. It's a losing proposition. No future in that.

Interesting comment - and I would have agreed about five years ago - now, the older and dumber I become, the less I need.

The house is only 1100 sq ft and with kids gone it is huge, the fences are not as pretty but they hold cattle, the barn is falling down - but it never has been used - so I will tear it down, the truck is 10 years old and I plan to drive it for another 10 at minimum, the car will go for as long as it lasts and then be hauled off, I fixed the old saddle rather than buying a new one, I rebuilt the chainsaw for less than the cost of a new one, and I still have my old barn coat that everyone tells me I should get rid of (all pockets ripped out - but still very warm).

I bought a brand new pair of rubber boots and poked a hole in them - duck tape seems to have repaired it just fine.

And we will be debt free in another couple of years.

My needs level has dropped dramatically.

I wonder how this all happened? Just getting older and dumber I suppose.

There must be something I need to buy as a reward!! :D

Bez+
 

skyline

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Bez+":1gqfxlpp said:
skyline":1gqfxlpp said:
Had someone tell me once that your "needs" will always rise to your level of income. The older and dumber that I become, the more sense that statement makes.

I believe some folks "needs" rise well above their level of income. It's a losing proposition. No future in that.

Interesting comment - and I would have agreed about five years ago - now, the older and dumber I become, the less I need.

The house is only 1100 sq ft and with kids gone it is huge, the fences are not as pretty but they hold cattle, the barn is falling down - but it never has been used - so I will tear it down, the truck is 10 years old and I plan to drive it for another 10 at minimum, the car will go for as long as it lasts and then be hauled off, I fixed the old saddle rather than buying a new one, I rebuilt the chainsaw for less than the cost of a new one, and I still have my old barn coat that everyone tells me I should get rid of (all pockets ripped out - but still very warm).

I bought a brand new pair of rubber boots and poked a hole in them - duck tape seems to have repaired it just fine.

And we will be debt free in another couple of years.

My needs level has dropped dramatically.

I wonder how this all happened? Just getting older and dumber I suppose.

There must be something I need to buy as a reward!! :D

Bez+

Very good Bez. I can relate totally. My greatest ambition in life right now is to get debt free. The sooner the better.
 
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Running Arrow Bill

Running Arrow Bill

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GMN Wrote,

I do agree that some people do live out of their means, but sometimes things do happen, unexpected that throw people into a area where they do get in trouble, no fault of their own. These people have a disabled person in their care, are they living beyond their means? I don't know, but I do know that if they live on the East Coast, things are crazy expensive there, with all sorts of building codes/permits to follow. We may think they paid to much to remodel their home for their handicapped son, but all these special features do cost alot of money, ramps, extra wide doors, these are all special need items.

I feel sorry for anyone who wants to do good by their family and gets so far in debt to do it. Maybe they should have had more common sense, I can't say, but I think at the time they did what they thought was best for them, and who are we to judge that?


Ok...my point was that for people with low to average income can't afford houses that expensive and there are similar jobs in less expensive areas of USA. For several years in past I did remodeling and new construction work. Even considering today's economy, there is no way I can visualize the very high expense of widening a few doors, building one or more handicap ramps, and a kitchen remodel. Those people must have done some very expensive and elaborate stuff! Also, since the place was "their own home" I doubt that "commercial/business" handicap requirements (and outrageous materials costs) would apply to them. On the other hand, the over crowded cities on East coast and California are another thing.

For the MSNBC reported case in discussion here, my opinion is that anyone with a $350,000 to $500,000 house should darn well be earning a six-figure income and all.

Of course, when people in New York City (or San Francisco) have to pay $500,000 for an "apartment" (or) otherwise "bid" on an apartment to rent with rents often several thousand $$ a month...well I'm just glad I live in the "good ole southwest"...

:cowboy:
 

Jogeephus

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This easy credit was too much of a temptation even for our state's school superintendent who is in charge of our $9.5 billion dollar school budget. With a measley salary of only $125,000 per year she is now filing bankruptcy due to she and her husband's failing construction business. They will get to keep their modest $450,000 home of which they only owe $442,907.55. The other $3.1 million dollars debt will be - whatever Chapter 7 does.

http://www.ajc.com/gatch/content/metro/ ... uptcy.html

This has really messed up my plans to get my garage extended to fully cover my AAV as I was hoping to get them to do the work for me. I hope this slow down will be over shortly and so I can get a third or maybe a fourth mortgage on my home so I get some new wing struts and possibly another sidewinder missile for my AAV. My dang infared camera is also on the blink and the price of fuel has limited my use of it to only holiday and weekends. Would somebody please send me a check. I NEED these things!

Oh, heaven's forbid that I have to do this manual labor myself, but in the event I do, do any of you have any suggestions. Here is a picture of what I have to contend with. And pardon the mess, the maid and the yard man have both been off this week.

106999JORN_w.jpg
 

skyline

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Ha! That is exactly what everybody needs in their garage. Jogee, what does it cost per hour to keep that thing in the air?
 

Jogeephus

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skyline":1o9yatmu said:
Ha! That is exactly what everybody needs in their garage. Jogee, what does it cost per hour to keep that thing in the air?

I have no idea, I just put it on one of my many, many, many, many credit cards.

BTW, this is a piece of advice a fella gave me once regarding credit cards. He suggested saying yes to every solicitation. When they send you the checks and the 90 days free interest, pay off the other card and just continue this on and on. He told me YOU WILL NEVER HAVE TO PAY IT BACK! (this is a true story. btw I now own his farm. that's the truth too)
 

skyline

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Jogeephus":2kxz4qjc said:
skyline":2kxz4qjc said:
Ha! That is exactly what everybody needs in their garage. Jogee, what does it cost per hour to keep that thing in the air?

I have no idea, I just put it on one of my many, many, many, many credit cards.

BTW, this is a piece of advice a fella gave me once regarding credit cards. He suggested saying yes to every solicitation. When they send you the checks and the 90 days free interest, pay off the other card and just continue this on and on. He told me YOU WILL NEVER HAVE TO PAY IT BACK! (this is a true story. btw I now own his farm. that's the truth too)

You may not believe this, but I actually had a finance professor in college advocating the same thing. :roll:
 

skyline

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Say you tug that thing out of the garage, close the garage door, and then crank it up. Wonder what the jet blast does to your garage door? :)
 

Jogeephus

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skyline":ox0946zj said:
Say you tug that thing out of the garage, close the garage door, and then crank it up. Wonder what the jet blast does to your garage door? :)

No big deal. Just call the painter and be sure he accepts credit cards. ;-) :lol2: :lol2:
 

Angus Cowman

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Jogeephus":10glzizj said:
skyline":10glzizj said:
Ha! That is exactly what everybody needs in their garage. Jogee, what does it cost per hour to keep that thing in the air?

I have no idea, I just put it on one of my many, many, many, many credit cards.

BTW, this is a piece of advice a fella gave me once regarding credit cards. He suggested saying yes to every solicitation. When they send you the checks and the 90 days free interest, pay off the other card and just continue this on and on. He told me YOU WILL NEVER HAVE TO PAY IT BACK! (this is a true story. btw I now own his farm. that's the truth too)
Jo be honest with us we all want to know how you made your Trillions and I promise we won't tell the gov't ;-) ;-) or the revenuers
 
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