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Living above your means

nodle

Cheesemonger
Administrator
How many of you see people living above their means everyday? You know the type, big house, two new vehicles, in debt up to their eyeballs. The American dream right? Anyways on my way back from work yesterday my boss asked if we could swing by and help his Nephew move a couple of things so I said sure. So we pull into this up scale neighborhood the type with the fancy homes lining the streets. We pull up on this 2 story beautiful home. Come to find out it was just built 6 months prior. His nephew and his wife has only been living there two months. Apparently he went from a big engineering job down to working at a Home Depot style store. They had all this brand new furniture, two brand new vehicles. The were moving to a smaller town into a different house. I didn't ask why they were moving but I put the two and two together. I felt bad for his wife. She was pregnant and had the baby room all put together and now they had to move out after living there only two months. Everything in life seems to go good until the bottom drops out and then things change. I would rather not live with that type of stress relining on your job that could fall through at any day. We all just take everything for granted that things will always go up and not down. Anybody else every see people living this way?
 

jmanz

I bought you the sims
Members
There will always be that. But there is definitely an ever growing group of people that live below their means, save, and are the opposite. Lots of financial independence type of blogs and websites out there to choose from for that lifestyle.
 

ndboarder

Bill Gates' Gimp
Members
The scenario you described and living above your means aren't necessarily the same thing.   Unless living above your means means anything other than cash payment for everything and zero debt.  That could be argued, on the other hand loans are kind of a normal every day thing.   They were probably living comfortably and unfortunately had the bottom drop out in some way or perhaps chose a major life change.   

Either way - there are still very many folks out there that truly do live above their means, take out loan after loan after loan from anyone that will give them one and rack up credit card debt to the point that they can barely afford to make the minimum payments on everything, even with a decent income.
 
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nodle

Cheesemonger
Administrator
take out loan after loan after loan from anyone that will give them one and rack up credit card debt to the point that they can barely afford to make the minimum payments on everything, even with a decent income.
Some of my coworkers live this way. I went to Costco and they were taking out payments on a 32" television that was only like $125.00 in the first place. I go "you know you pay interest on that stuff, why not just buy it outright"? Or even better yet, save until you can buy it outright. I once was that way, hey I can have it now why not? Until I finally understood how much I was paying in interest like a fool.
 
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