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Do you know anyone living like it's 2005 (on credit)?

iota15

Brilliant_Rock
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Mar 19, 2010
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I'm not in the U.S. but my country hasn't been totally spared from the choas of the last few years either.

From an outsider's point of view, it seems like a good majority of the home defaults, credit problems, etc. in the U.S. were NOT made by people who spent lavishly or stupidly. Although, the perception is that at least some of the problem is caused by some people as a result of well, excess and financial imprudence. I think this includes both corporate and personal excess.

I'm not sure how it's working down there. To me, it seems like all U.S. taxpayers are in part paying for other people's imprudence to some degree. To repeat what seems like an obvious mistake now (when almost everyone seems to have hunkered down to some degree, or at least re-looked at their financial plans and future) just seems stupid. Nobody should want this piece of history repeating itself. Even though we're only seeing this in a small fraction of our social peers, it seems even more stupid to make this mistake again when you've just witnessed all the newspapers and countless people making this mistake and learning from it.
 

Dancing Fire

Super_Ideal_Rock
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33,852
ksinger|1304174756|2908574 said:
Ha! Got a windfall this week, and so in 2 months' time, we will have thrown over 10,000 additional dollars towards our mortgage principal. SWEEEEEET!


Congrats Karen.. :appl:

been very windy here this week,but the only GREEN i see falling are the leaves from my neighbor's tree... :((
 

House Cat

Ideal_Rock
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janinegirly|1304178247|2908582 said:
House Cat|1304172037|2908562 said:
I wonder why another person's financial situation would bother you? Will this person put you on the spot and ask to borrow money in the future? Do they mooch off of you? Why is their money situation any of your business at all? If someone is choosing to live on credit, how is that affecting your life in any way?


These questions aren't rhetorical. I am honestly asking. My friends financial situations aren't my business, unless they make them my business. I just don't see why this would bother a person so much.


Who said it bothered me "so much." The crux of my question is whether this is even possible in the current environment. Does it bother me to see some people flaunt and exaggerate when the truth is apparent, sure. Do I go and make judgemental comments to them. No. Human nature is interconnected and a big part of why people choose to live beyond their means (and then flaunt it) isn't only about themselves, it's about how it appears on the outside and about seeking some gratification from that (perception which these days counts for more than reality). I think it's a worthwhile topic but if you feel otherwise or can't relate, that's is your business.


janinegirly|1304022882|2907276 said:
Thanks for all the feedback! Interesting how easy it still is to obtain loans, cc's,etc. Well this particular friend lives expensively (rent, maids, spa visits, designer clothes/shoes). I don't know her salary, but I can guess the range and I'm assuming it's not phenomenol based on all the credit that is being utilized. I understand that everyone has debt, but we're talking big purchases beyond one's budget (luxuries - mulitple homes with minimum down), and using these purchases to leverage other purchases or taking lines of credit on them. Transfering debt to credit cards that are low interest or no interest, no retirement savings of any kind. It's crazy to me, but then I started to wonder if a person could care less about wise financial advice, and isn't affected by worry / conscience on this topic, then can they pull it off? Yes you'd be paying more in the long run, but what if you dont care in order to have it now rather than possibly never. My logical, rational side says it catches up and you pay in the long run ..but maybe it doesn't for some if you can hold onto your job.

PS I would never share my opinion with this friend btw, it's her business. It does bother me, but I don't say a word. This is a nice outlet though!

This is the post where you let on where it was bothering you. In fact, I think those were your exact words? And you're posting about it here. I apologize for using the phrase "so much."
 

House Cat

Ideal_Rock
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Dancing Fire|1304232023|2908979 said:
House Cat|1304172037|2908562 said:
I wonder why another person's financial situation would bother you? Will this person put you on the spot and ask to borrow money in the future? Do they mooch off of you? Why is their money situation any of your business at all? If someone is choosing to live on credit, how is that affecting your life in any way?


These questions aren't rhetorical. I am honestly asking. My friends financial situations aren't my business, unless they make them my business. I just don't see why this would bother a person so much.

i'll tell you why it bothers me.there are a few friends whom i loaned money to about 12-15 yrs ago.today they all live in a bigger,more expensive home than mine and drive around in expensive cars,so did they pay me back??...HECK NO.. :!: :angryfire: :angryfire:
You should ask them for your money.
 

ksinger

Ideal_Rock
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Joined
Jan 30, 2008
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5,083
Dancing Fire|1304240824|2908996 said:
ksinger|1304174756|2908574 said:
Ha! Got a windfall this week, and so in 2 months' time, we will have thrown over 10,000 additional dollars towards our mortgage principal. SWEEEEEET!


Congrats Karen.. :appl:

been very windy here this week,but the only GREEN i see falling are the leaves from my neighbor's tree... :((



What exactly are you calling "windy"? For us it's not "windy" until it's over about 18mph, then people start commenting that it might be a bit windy. That said, it's been pretty wild around here lately, even for spring in Oklahoma. Sustained in the upper 20's and gusts up to 50. Just wears a person out....

Yeah, I'm sitting here trying to figure out where my next 10,000 CHUNK will come from, but so far I can't swing another one right now, dangit.
 

Dancing Fire

Super_Ideal_Rock
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33,852
House Cat|1304265549|2909162 said:
Dancing Fire|1304232023|2908979 said:
House Cat|1304172037|2908562 said:
I wonder why another person's financial situation would bother you? Will this person put you on the spot and ask to borrow money in the future? Do they mooch off of you? Why is their money situation any of your business at all? If someone is choosing to live on credit, how is that affecting your life in any way?


These questions aren't rhetorical. I am honestly asking. My friends financial situations aren't my business, unless they make them my business. I just don't see why this would bother a person so much.

i'll tell you why it bothers me.there are a few friends whom i loaned money to about 12-15 yrs ago.today they all live in a bigger,more expensive home than mine and drive around in expensive cars,so did they pay me back??...HECK NO.. :!: :angryfire: :angryfire:
You should ask them for your money.
they been avoiding me for yrs now :rolleyes: but if they really wanna pay me back they know where to find me,anyhoo one of them guy's house is under foreclosure.. :appl: couldn't of happened to a nicer guy... :devil:
 
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