Quote:I'm sorry, am I insulting you in some way by saying people can choose the type of car they want to drive?
I didn't say every poor person in the country needs to go out and buy a specific type of car. Nor did I suggest that it's a cure-all for people that have a tight budget.
I said simply, fuel costs are not fixed and the type of car someone owns can factor in. I also suggested that if fuel cost are a real problem, someone can get a car with better mileage. I think it's also clearly implied in my post that it's a personal choice.
You choose familiarity over potential gas savings. That's fine, knock yourself out lady. I literally pointed out in the post you're quoting that adults are free to drive what they want.
But I don't agree that it's some impossible thing to do (once again, if one feels the need) for the bottom 20% as a whole. Most grown people on the road have bought or will buy a car they freely choose at some point. The vast majority of people multiple times.
To suggest someone is enslaved to a particular type of car for the rest of their life, to me, is stupid.
Dude, I wasn't jumping down your throat and certainly wasn't taking it personally. I'm sorry if you got that impression. Let's leave it at that.
This conversation made me think of the story from a few years ago about the guy in Detroit that became famous for a week because for years he would walk 21 miles to work each day. Obviously the worst case scenario, but if you dont have a car, or public transportation, or even a bike, you could just walk if your really had to. Although I would think a bike would be the obvious move. They're cheap and frankly you'd get in great shape.
Crazy story about him though, after his story became public, an online campaign was started for him. He ended up getting like $300k plus a new car. And what happened to the poor guy?
His ex-girlfriend rolls back into his life and says she is owed a large cut of that. Finally gets out of poverty and his lady tries to suck him back in!
Quote:This conversation made me think of the story from a few years ago about the guy in Detroit that became famous for a week because for years he would walk 21 miles to work each day. Obviously the worst case scenario, but if you dont have a car, or public transportation, or even a bike, you could just walk if your really had to. Although I would think a bike would be the obvious move. They're cheap and frankly you'd get in great shape.
Crazy story about him though, after his story became public, an online campaign was started for him. He ended up getting like $300k plus a new car. And what happened to the poor guy? His ex-girlfriend rolls back into his life and says she is owed a large cut of that. Finally gets out of poverty and his lady tries to suck him back in!
That's why something like 90% of lottery winners in the US end up bankrupt within 10 years; when every knows you have money, everybody expects money from you.
Quote:That's why something like 90% of lottery winners in the US end up bankrupt within 10 years; when every knows you have money, everybody expects money from you.
It's more likely that people who play the lottery aren't very good with money to begin with.
Quote:It's more likely that people who play the lottery aren't very good with money to begin with.
That's certainly one of the factors at play.
Quote:That's why something like 90% of lottery winners in the US end up bankrupt within 10 years; when every knows you have money, everybody expects money from you.
My husband and I don't play the lotto but I told him if we ever did and won we wouldn't tell anyone other than a lawyer, an accountant, and our tax guy none of whom are in our family nor social circle. Literally no one. Ever. The very few people who would likely find out at some point (both of our parents) wouldn't say a word either.
Quote:That's why something like 90% of lottery winners in the US end up bankrupt within 10 years; when every knows you have money, everybody expects money from you.
Quote:It's more likely that people who play the lottery aren't very good with money to begin with.
It's not just the lottery, think of all the professional athletes who've gone broke after their playing careers ended.
Quote:My husband and I don't play the lotto but I told him if we ever did and won we wouldn't tell anyone other than a lawyer, an accountant, and our tax guy none of whom are in our family nor social circle. Literally no one. Ever. The very few people who would likely find out at some point (both of our parents) wouldn't say a word either.
If memory serves me correctly quite a few states require your name to be disclosed when you win. I don't know why but I remember reading that somewhere.
Quote:If memory serves me correctly quite a few states require your name to be disclosed when you win. I don't know why but I remember reading that somewhere.
Yeah, I don't know if NC is one of them. And it wouldn't matter anyway. Our money is going toward medical bills so playing the lotto is not a priority.
Quote:It's not just the lottery, think of all the professional athletes who've gone broke after their playing careers ended.
We don't buy lottery tickets very often. Every now and then I'll pay what amounts to a "stupid tax" and buy a ticket, but honestly I couldn't tell you the last time that I did so.
I remember reading a study quite some time ago that concluded if you took all money away from everyone and redistributed it equally, it would not be long before those that were "poor" would end up that way and those that were "rich" would end up the same way.
Ask 100 people what they would do with a million dollars if it was given to them, and by far the answers range from "party" to vacations, buying more than they probably need, etc. Very few will mention paying off debt, investing or saving.
Quote:Very few will mention paying off debt, investing or saving.
This is exactly what I would do. Pay off my medical bills and credit card, talk to a friend of ours who is good with investing and finances without telling them why. We don't have a mortgage or car payments but our home (20+ years old) and vehicles (both 14 years old) are aging so those would be things to address as they come up. Our AC is 20+ years old and still works very well as does our 20+ year old water heater and stove. I expect they won't last forever.
Quote:This is exactly what I would do. Pay off my medical bills and credit card, talk to a friend of ours who is good with investing and finances without telling them why. We don't have a mortgage or car payments but our home (20+ years old) and vehicles (both 14 years old) are aging so those would be things to address as they come up. Our AC is 20+ years old and still works very well as does our 20+ year old water heater and stove. I expect they won't last forever.
Back in the mid-to-late 90's my wife and I got ourselves into a ton of debt. I finally had enough and I remember her crying as I cut up all of our credit cards. We paid those off, paid off and drove used vehicles for years and finally have gotten ourselves into a comfortable position.
My home is much older than yours, and serves it's purpose. I've replaced the AC, water heater, roof, stove, etc. over the years, but it's all going to be paid off very soon. Just keep working hard at it and eventually you'll be in a position like me. My advice is to sock whatever money away that you can. Even if it's only $10 a month, just put it away and don't touch it. You'll be surprised as to how quickly it ends up being a pretty decent sum of money.
Quote:"Competition is sin."
-John D Rockefeller
And that's how the Rockefellers and other super dynasties have operated for a very long time.
Watch the documentary "How oil conquered the world"
Holy cow... I can't believe my eyes... badger, did someone hack your account???
Quote:Holy cow... I can't believe my eyes... badger, did someone hack your account???
Competition is great. Legal monopolies are bad. Even staunch defenders of free markets agree with that. The problem is the ones that are in a position to support one of those things tend to be in the pocket of companies looking for a lack of competition