- July 10, 2008 at 1:10 pm #259692
The question is where is the sadness and loss really coming from? I believe that we are all capable of working, working overtime, 2 jobs if necessary. If we compile the debt, then we may as well pay it off and enjoy our stuff we’ve collected in the few hours per day we manage to have to ourselves.
However, I realize that sometime people get into accidents and lose the ability to work. But let’s look at this from another angle. If sickness or accident takes away my income, what does it really take? I bring in about 4,000-5000 per month. My bills are nearly as high. But the lions share of my bills are the normal thingsof life everyone has, food, car repairs, medical co-payments, utilities, house payment etc. I agree that paying off a house is aworthy goal. But most of us don’t make 100,000+ grand per year and we can not pay a house off in less than the 30 years, 20 if we are really good. Stuff happens, jobs change, we have to move. The averageAmerican moves every 5 years. Paying off a house is an unrealalistic goal for most people. I’m simply saying that it’s patently wrong and abusive to try and convince people they are doing something wrong for taking out a mortgage or a car payment. People with far less means than I have come here looking for ways to save money. Maybe some of you should think about toning down what you say or they will leave without even seeking the help and advice.
Around 1500of my incomeis spent back out onbusiness expenses that I can manipulate downward a bit if needed. I pay about 1200 per month on olddebt. This means that even if I paid off ALL my debt, I really only have 1200-1600 per month over and above what I absolutely must have to pay for a modest living. If I was unable to care for my daycare children and I couldn’t have any other sort of job, then where would the nearly 2000 per month I contribute to my family come from now? Put asside any credit card debt. I wouldn’t have the money for the basics. No amount of planning will change that. Even disability insurance is not available to daycare providers. But even if a person gets disability insurance it won’t pay significantly and a person will live at poverty if they need to collect on it. I have sold disability insurance so I’m well aware of the maximums. God forbid a person lives on the east or west coast when tragedy strikes!
What I am trying to say in a clumsy way, is that if I was unable to work or my husband was unable to work or we were fighting some illness that was wracking up a few hundred thousand worth of medical bills, then my debt would be the LEAST of my worries. My father-in-law just had a 100,000 dollar surgery. That’s after Cheamotherapy a few years ago.Now he’ll do more radiation this time. He has insurance. But it doesn’t pay it all. I believe that with our insurance we have a 5 million dollar lifetime maximum and we would have to pay close to 5000 per year out of pocket until the 5 million is met.
I truly don’t believe that credit cards and debt keep people from putting food on the table. Laziness does. I get up all hours of the day and night to answer the door. I don’t whine about losing sleep. I stay on my feet many hours per day and I take care of kids when I’d love a day off. I do it by choice and it allows me to comfortably pay my debts and have hobbies and a really big albeit a crappy house LOL!
Sorry…I’m rambling LOL!
From: Lucy Anderson
Sent: Thursday, July 10, 2008 11:44 PM
Subject: Re: Budget101.com : My introduction…
That is a huge myth….
While I don’t recommend renting (except it today’s market it is too crazy),
mortgage “tax relief” is not that great versus just paying your house off.
Have you watched the video about our nation and credit cards? I can’t
remember the name of it, but I bet someone here knows it. Very, very
enlightening. You won’t look at credit cards and loans the same way again.
Would I be sad if credit card companies lost their jobs? Well, I view
credit card companies with about the same regard as drug dealers. Would I
be sad if a drug dealer lost his job? No way.
Militant if you want….. But that’s just me. I’ve seen way too much pain,
suffering and needless loss from debt.
On Thu, Jul 10, 2008 at 6:10 AM, suzilmcmullen <email@example.com> wrote:
> If we pay rent we lose that huge tax relief called mortgage
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