Oct 09, 2008 08:25PM GMT
Question
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Money - Investments
Am I crazy??Should adults be expected to know IF they can afford a certain home or car?
Is it too much to ask that adults know how much $$$$ they make and what they can afford?
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raves posted Oct 14, 2008 07:01PM GMT
Answered yes
Yes, they should. But look at the advertising on TV for credit cards, pay-day loans, and even now some company is offering mortgage refinancing 'regardless of your credit rating' and tying it to the current crises and $700 M bailout. We are continuously encouraged to 'live above our means." The majority of us know better and don't buy into this. But, unfortunately, there are a lot who do. -
raves +2 posted Oct 10, 2008 04:28PM GMT (edited)
Answered yes
Sister Jean you seem to ask all the right questions!
I gasped when at the debate John McCain said he wanted to bail out people with defaulted mortgages from the predator lenders! My family lives pay check to paycheck,...we almost never go out to eat,..we live to pay our mortgage & bills ,I pay the credit card off in full when I can, our kids do not have everything they want but only what they need!
I am out raged that idiots with a house, new cars, flat screen TVs & new boobs too,..would be given a break! & then to think that the government loan for these idiots probably would get defaulted again and we'd be paying double for them,..McCain's plan makes no sense! Why would you reward negative behavior? Help the people doing the right thing, not the idiots!!! -
raves +1 posted Oct 10, 2008 04:26PM GMT
Answered yes
That's how we were taught, doesn't seem to be the case nowadays.This crisis is partially due to irresponsable purchases,I see it all around me.I lost some serious money in the equity markets in the last month or so(paper loss) ,maybe we sholud go back to basics and try to live within our means,I think we'll be allright after the elections.I don't feel sorry for people who can't count,but I do appreciate their enthusiasm. -
raves Oct 10, 2008 04:54PM GMTwell that's ok,a little too frugal for this generation,we have to function after all.My anger is directed toward people who bought 500,000/One Million dollars homes,when they could only afford half that much.They hoped for the housing market to keep on rising,it didn't and now they can't make mortgage payments or sell, even at great loss.They wanted to make easy money with no assests to back it up.They lost and we'll end up payng for it.
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raves +1 posted Oct 10, 2008 12:51PM GMT (edited)
Answered yes
It is unfortunate, but many people just seem to be concerned about if they can afford the payment. Do you notice many car ads theeing what the payment is per month, but excluding the cost of the vehicle. It's kind of like the Master Card ad, what is my credit limit, I want it all.. -
raves +3 posted Oct 10, 2008 03:30AM GMT
Answered yes
We only buy what we can afford that fits in our budget > If it can't be fitted in our budget no buy. Like I want a newer car this one is a 98 over 100,00 miles but we have to pay off the truck first. If we plan a trip ( only a weekender we go with out extra's to save) -
raves +3 posted Oct 10, 2008 02:53AM GMT
Answered no
AND the should be smart enough to know when someone is telling them they can afford something they can't and they should be smart enough to live inside of their means, and they should be smart enough to know when they can't keep up with the Jones' but a lot of them aren't -
raves +2 Oct 10, 2008 03:46PM GMTKristi, I agree, it's getting almost impossible to save money. But if you want to have security you have to make the sacrifice. I imagine most people who live on their last check have a fairly new car or two, cable or satellite TV, a cell phone, computer, etc.etc.etc. A roof over their head should be the priority. I give up a lot of things I'd like to have in order to have the security of a nest egg for emergencies. I couldn't sleep otherwise. But I realize this is old fashioned thinking.
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raves +1
Answered yes
People need to start living within their means. Scale back and stop overbuying and wasteful spending.