Quote:
Originally Posted by Socks
But I bet only 15-20% of people who have a nice car or home ARE saving money.
Only 2-3% of people make $200k a year or more. But if look at the cars around here, you'd wonder.. An incredible amount of $80k+ cars around.
How much money do you need to own a Ferrari? $300k buys one... So if you have $350k, can you afford one? Obviously no. You COULD buy one, but you'd be obviously retarded. Even with a million dollars, you'd be pretty stupid.
But tell a kid with a pretty good job he should wait to buy that new $90k Audi (with probably $5,000 in the bank) and you're a "hater".
People just don't understand money.
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Speaking from personal experience I can say that I know at least 10 people/couples that live in pretty nice "McMansion" houses, have a couple of nice cars, nice furniture etc. They don't have Ferraris or anything like that, but they live a life that would lead you to believe they are upper middle class people. None of them has anything more than a few hundred dollars in a savings account. Every one of them lives paycheck to paycheck.
One of the couples, last year, had the wife get hurt and she was out of work for about 6 months. She got disability, but it only came to about half of what she made when she was working. Within 3 months they had one care repossessed and they traded the other one in so they could get a lower payment. By the time she went back to work they were about 2 months behind on most of their bills.
Had they just had one nice car and one average car and a four bedroom house instead of a five bedroom house they could have been saving some money and they would have been able to survive this unscathed.