mild rant in here about finances

[Renegade]

I sat down and did the math with their income and expenses and I just don't see where their money goes.

Exactly. You do not see it because they spend it on stuff they do not need that does not last - eating out, internet, movies, phone plans, fees, penalties, etc.

 

[TexasRedneck]

I'm the poster child for lousy money management.....or was. 4 years ago, Schoolmarm retired when it became obvious that the district was out to get her out one way or another. After 4 years of progressively worse students assigned to her classroom, I saw the handwriting on the wall and told her it was time for her to get out. About 2 years before that, we'd started working on "clean-up".......but when you're over $200k in the hole it takes a while. <G>
In late February, we had two choices - pay off the house, or her car. House won, and the release of lien is now in the safe, having managed to pay off a $180k house in a month shy of 11 years. Now, her car is the ONLY thing we still owe on - and most of y'all know me well enough to know that the gun collection has grown pretty significantly in the past 4 or so years. Side jobs, living WELL below our means, and LOTS of penny-pinching on non-essential stuff allowed us to still maintain a pretty good standard of living (on stuff that WE wanted, anyways) while taking a $40k/year pay cut. Wasn't always fun, but ya know what? In a tad under 18 months, I'm gonna retire - and at any time between now and then, I just might do it early.......and we'll still survive.
A LARGE part of that is to Schoolmarm's credit - she can go shopping every day now (and usually does <G>), but she very seldom actually BUYS anything. She's got a budget, and she won't exceed it by even a dollar - when she's out of money, she doesn't ask to get some from my "side" if the budget - she's just done until the next retirement check hits the bank.

Bottom line.....smarten up, guys! Put AT LEAST 15% of you pay into a 401k, stop trying to keep up with the neighbors (who are so deep in debt that they can't afford to care), and when you hit OUR age, you'll be a LOT better off financially!! I danged near waited too long to get a clue - and even then, had I done this 20 years ago, I'd have long since retired VERY comfortably. Now that we're on the other side of that debt, the mental stress I was under (and didn't even realize it) is just an ugly memory!

 

[ROGER4314]

You might look into the Federal "Harp" program. My bank is offering refinancing of mortgages with no fees, closing costs, points etc. At absolutely zero cost. The Feds have offered the "Harp" program because they had to eat so many mortgages in the "bust" a while back. High interest rates torpedoed those mortgages so refinancing will protect them from another bailout. The Harp program can cut your interest rate and your payment.

Check it out!

Flash

 

[TheDan]

I never have any money... Gas, tires, and ammo are expensive!

 

[Major Kong]

I am with a wealth building firm that co-creates road maps for financial security.

We help clients win the highest stakes games of their lives by building robust, reliable, complete and impenetrable balance sheets. We accomplish this by being counselors, educators, and coaches of personal financial matters. We fulfill our mission by being the most professional service providers in our industry.

If anyone is interested in learning more, please message me on here.

I would be more than happy to assist you.

Sent from a B-52 flying over Russia.

 

[Army 1911]

I have a friend who makes over 150,000 a year, wife and one daughter (now in college). He is always broke. He doesn't finance anything except house and has put 30% of income into retirement all his working career. He won't touch the retirement, but spends the rest. Saves up for new cars and won't touch that until he buys a new one (kinda like making car payments to himself).

Has a great lifestyle but always poor mouths himself. Uses lack of money as an excuse not to do things that others would do. Overall a smart guy.

I do the same with car payments to myself. Next year I plan on a new car and will pay cash. Or if the finance price is enough lower I may finance and pay off with the second payment. My house is paid for in the next16 months. I will be debt free.

Paying off the house (15 year mortgage) will be like getting a 1000 buck a month raise after taxes. Average car payment in this country is probably over $400 month.

Not having debt is priceless!

 

[A.Texas.Yankee]

I was almost debt free... Then I bought a house.

 

[Brains]

I was almost debt free... Then I bought a house.

Been here 4 years, got 10 more years left to pay. But we're already talking about country living once the kids are grown. Hopefully there's enough equity here to make it a wash

 

[ZX9RCAM]

I was almost debt free... Then I bought a house.

Funny thing is, once you are debt free, one finds plenty of things to spend money on, lol....

 

[TheDan]

We help clients win the highest stakes games of their lives by building robust, reliable, complete and impenetrable balance sheets. We accomplish this by being counselors, educators, and coaches of personal financial matters. We fulfill our mission by being the most professional service providers in our industry.

Sounds expensive; doubt I can afford it

 

[Major Kong]

Sounds expensive; doubt I can afford it

Actually, all of our consulting and advice comes at no charge.

Sent from a B-52 flying over Russia.