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Forty Percent Of Americans Donít Even Have Four Hundred Bucks To Their Names

 
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Old 05-29-2018, 08:19 PM   #21
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Re: Forty Percent Of Americans Donít Even Have Four Hundred Bucks To Their Names


It's all about deciding where the money goes. I have a 3 year old non smart phone, no cable or Netflix. My car is missing its handle and I have to tap on the window motor with a wrench to get the window up or down. I also own 6 houses (me and the bank on most of them at this point) at the age of 34 and try to take 1 or 2 good vacations a year.

Vacations is the only extravagant expense my wife and I prioritize. Other than that we keep life simple and try to fund things that will allow us not to work when we don't want to anymore.

Regardless what I have learned from all of this is the my tenants can afford a lot of things that I can't, and I can afford a lot of things that they can't. Just depends how you look at it.
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Old 05-29-2018, 08:21 PM   #22
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Re: Forty Percent Of Americans Donít Even Have Four Hundred Bucks To Their Names


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I agree completely. I think a lot of people are spending money on wants when they shouldn't be because they aren't in a good financial place regarding saving/investing.

My wife and I are much more prone to saving/investing money as well as renovating our home to flip it. We've had a goal for the past 6 years of flipping houses and then buying land and building.

You don't get there on my income by eating out several times a week and going to the movies on the regular, etc...
Basically.

If you have a goal in mind and a path towards that success, you are light-years beyond most people.
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Old 05-29-2018, 08:38 PM   #23
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Re: Forty Percent Of Americans Donít Even Have Four Hundred Bucks To Their Names


I’m a chicken—took on debt for the first time in over 25 years. Had to make a decision, call the wife and tell her I’m spending some of our money on equipment or finance it. I choose the easy way.

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Old 05-29-2018, 08:46 PM   #24
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Re: Forty Percent Of Americans Donít Even Have Four Hundred Bucks To Their Names


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Originally Posted by FrankSmith View Post
It's all about deciding where the money goes. I have a 3 year old non smart phone, no cable or Netflix. My car is missing its handle and I have to tap on the window motor with a wrench to get the window up or down. I also own 6 houses (me and the bank on most of them at this point) at the age of 34 and try to take 1 or 2 good vacations a year.

Vacations is the only extravagant expense my wife and I prioritize. Other than that we keep life simple and try to fund things that will allow us not to work when we don't want to anymore.

Regardless what I have learned from all of this is the my tenants can afford a lot of things that I can't, and I can afford a lot of things that they can't. Just depends how you look at it.
I think you should afford yourself the luxury of a new window motor. One of these days the wrench isn't going to work and it'll be a rain or snow storm
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Old 05-29-2018, 08:52 PM   #25
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Re: Forty Percent Of Americans Donít Even Have Four Hundred Bucks To Their Names


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I think you should afford yourself the luxury of a new window motor. One of these days the wrench isn't going to work and it'll be a rain or snow storm
I have a new one. Now I just need to put it in and resemble the door. Somehow I will find time the evening after it gets really stuck
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Old 05-29-2018, 08:58 PM   #26
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Re: Forty Percent Of Americans Donít Even Have Four Hundred Bucks To Their Names


I hear ya. Have had issues with locks, windows and speakers. Always a struggle to get the panel off and then on again without breaking some stupid little plastic clip.
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Old 05-29-2018, 09:38 PM   #27
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Re: Forty Percent Of Americans Donít Even Have Four Hundred Bucks To Their Names


I spend more than I should...but not more than I can or make. I still save and have rental property. My wife and I live comfortably but not over the top. My damn wife spends too much on the kids but I don't seem to win that battle.

When we were first married we fixed up our first house on 6 months same as cash. We knew how much extra we had in the budget each month. We would pick projects based on that amount times 6. Then we used Lowe's or Home Depot credit for the projects. Paid them off in full by the 6 month term and then did the next project. Worked great, gave us stellar credit, and I didn't spend any money to finance our projects.

I do remember early on though a $400 unforseen bill could hurt ya for a bit but you just made a sacrifice somewhere else. I wonder if the rest of the developed world lives as tight as most Americans?...
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Old 05-29-2018, 09:47 PM   #28
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Re: Forty Percent Of Americans Donít Even Have Four Hundred Bucks To Their Names


My wife spends WAAAAAY too much on the grand kids....

then the grocery store.....jeez.....

About the grand kids she just tells me that's the way it is, live with it...

the grocery store, all i get is suck it up....you eat well don't you?...
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Old 05-29-2018, 09:52 PM   #29
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Re: Forty Percent Of Americans Donít Even Have Four Hundred Bucks To Their Names


Most in that 40% do the opposite.... instead of living below their means, as a general way of living, they live in a constant state of living above their means confusing wants versus needs... easy to do, but most people are genuinely surprised when they really look at where their money is going... they're literally throwing away money when all that's needed is some modifications... just like in business, lots of "found" money to be had using the same income...

We used to be in that 40%... don't miss it... but if you get used to it, hard to break the cycle because it's the norm and we have weird definitions of "success" nowadays ... especially with how we're programmed to spend money...

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Old 05-29-2018, 09:59 PM   #30
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Re: Forty Percent Of Americans Donít Even Have Four Hundred Bucks To Their Names


When I moved out at 20, I was working on a framing crew making $13/hour. My buddy and I moved in to our first apartment to split bills. He came from family money and I did not.... After about 3 weeks, I realized I wasn't going to make my half of our first month's rent. So I got a 2nd job at Home Depot working in the lumber and building materials dept, the 6-10:30 a few nights a week and a full day on Sundays.

That second job taught me plenty about life. For starters, nothing in life is deserved or owed to you, and there is a strong level of pride in being self sufficient at a young age when others are not. Additionally, when you work 48 hrs framing and 20-25 on your feet at night rocking an orange smock, you don't have any free time or energy to spend money. In about a year, I went from having less than $100 in the bank to 6 months worth of bills/expenses saved away for an emergency and I never looked back.

I say all this not for a pat on the back, I know many of you had it much harder than I growing up, but to say I STRONGLY preach getting a 2nd job for young people. Too many guys whine that they shouldn't have to get a 2nd job. They should be able to live off one income. Maybe they're right, maybe not, but that's not the world we currently live in. So either get the 2nd job and push your life forward full speed or sit back and cry about how things are tough and life is not fair.....
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Old 05-29-2018, 10:12 PM   #31
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Re: Forty Percent Of Americans Donít Even Have Four Hundred Bucks To Their Names


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...When I moved out at 20, I was working on a framing crew making $13/hour...
just a little perspective....

I think I was 19 when I left the nest & SINGLE.....

NO BILLS, didn't owe anyone a cent....

$4.50/hr., 50 hrs/week, more money than I knew what to do with..

now, wife and grand kids &..oh never mind...I'll just suck it up
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Old 05-29-2018, 10:22 PM   #32
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Re: Forty Percent Of Americans Donít Even Have Four Hundred Bucks To Their Names


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just a little perspective....

I think I was 19 when I left the nest & SINGLE.....

NO BILLS, didn't owe anyone a cent....

$4.50/hr., 50 hrs/week, more money than I knew what to do with..

now, wife and grand kids &..oh never mind...I'll just suck it up
Back then, they used to not only have over-time, but you got paid in cash...


The kids nowadays have no ambition/motivation nor stamina... we'd purposely work 12-hour shifts and STILL go out knowing we had to be up about 4 hours to do it all over again...


Well, I guess I shouldn't say no ambition/motivation... they're pretty motivated to stay in front of electronics in one form or another...



Ah youth.... I remember ye' well...

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Old 05-30-2018, 08:20 PM   #33
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Re: Forty Percent Of Americans Donít Even Have Four Hundred Bucks To Their Names


I always enjoyed working a Wednesday to Sunday shift and having Monday and Tuesday off. Everyone else was at work so I spent way less money.

When I was in high school I always had a job after school worked weekends and on summer vacation made a ton of money got lucky to be making $16/hour when most were making $10.

Worked all the overtime I could get. Allowed me to have my own car motorcycle phone and anything else really all before finishing high school

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Old 05-30-2018, 08:32 PM   #34
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I always enjoyed working a Wednesday to Sunday shift and having Monday and Tuesday off. Everyone else was at work so I spent way less money.

When I was in high school I always had a job after school worked weekends and on summer vacation made a ton of money got lucky to be making $16/hour when most were making $10.

Worked all the overtime I could get. Allowed me to have my own car motorcycle phone and anything else really all before finishing high school

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It's wild... I know kids who have gotten used to the 30 hour or less work weeks that became prevalent over the past decade, and when I tell them that at their age, I'd gladly work 3 - 16 hour days in a row to have the other four off, they look at me like I'm crazy...

To them, that IS full-time... they have a hard time picturing doing 40 hours never mind getting a second job...

Eh, I guess they'll never miss what they didn't have...
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Old 05-30-2018, 08:36 PM   #35
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Re: Forty Percent Of Americans Donít Even Have Four Hundred Bucks To Their Names


When every major retailer considers 32 hrs to be full time, it's not hard to see why. I remember 35 was the full time minimum for Borders when I started there in 01

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Old 05-31-2018, 05:26 AM   #36
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Re: Forty Percent Of Americans Donít Even Have Four Hundred Bucks To Their Names


When I was making over a thousand a week in the eighties I got a dollar a day to spend. Thatís all Iím going to say.


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Old 05-31-2018, 05:49 AM   #37
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Re: Forty Percent Of Americans Donít Even Have Four Hundred Bucks To Their Names


What did you buy with all that money?
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Old 05-31-2018, 05:54 AM   #38
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When every major retailer considers 32 hrs to be full time, it's not hard to see why. I remember 35 was the full time minimum for Borders when I started there in 01

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I'm pretty sure that they do that to avoid having to pay benefits. Just another way to make America poor again.
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Old 05-31-2018, 07:16 AM   #39
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I'm pretty sure that they do that to avoid having to pay benefits. Just another way to make America poor again.
Avoids forced Obamacare contributions. It does give others a chance to work, someoneís got to fill the time gap.

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Old 05-31-2018, 07:57 AM   #40
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Re: Forty Percent Of Americans Donít Even Have Four Hundred Bucks To Their Names


30 hr week jobs aren't meant to be full time unless elderly, student, secondary income for a spouse ect... you dont get ahead working 32 hrs at a low level job. It's not meant for that

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