Money

Question: How many people do you knw are poor cause of poor money management?

(Posted by: Billy Cunningham on 2010-06-13 09:11:37)

Like they have a big giant mortgage, two NEW car payments, Go on vacations yet, Ah, I have no money!! Do you know any people like that?

Posted by: RLP on 2010-06-13, 10:06:28

The majority! I have foolish cousins who have to have all the latest gadgets. They have cars they can't afford and cell phone plans that cost hundreds. We were smart with our money and saved for what we wanted. We have our homes paid off (yes - plural), pay cash for cars, and don't have ANY debt. We did without in our 20's and early 30's so we would be financially sound now.

Posted by: libsticker on 2010-06-13, 09:13:58

I know many like that, and most of it was self inflicted economic damage. We Americans want it all and we want it now, not willing to save for it and wait until we can actually afford it.

Posted by: The Pink Power Ranger on 2010-06-13, 09:14:35

Hardly any. Most poor people I know were born into poverty.

Posted by: Shamus on 2010-06-13, 09:15:07

Almost everyone I know that is poor is poor because of poor money management.

Posted by: Em on 2010-06-13, 09:15:21

I don't consider people such as you described to be poor.

Posted by: Cybi on 2010-06-13, 09:17:21

I know many people who are house poor. They may have a $400,000 home, but have less than $200 in the bank account by payday. They are charging utilities on credit cards and trying to find extra money at bill time. If one of them lost their job, they would lose their home, cars and property in a matter of weeks since they can’t pay. These people build a façade of wealth, but underneath it they are drowning in debt they cannot pay and surviving on pennies.

Posted by: EviL Liberal on 2010-06-13, 09:17:35

Sorry to disappoint but no I don't. most people I know are factory workers like myself, struggling to get by on stagnant wages.

Posted by: betotron on 2010-06-13, 11:07:37

Educated to be welfare recipients is what I see...they have no desire to strive for anything...just vote for MR O and life goes on...