So, how much do YOU make?

[tbeltrans]

Originally Posted by Martin Maniac

Well, four years of debt isn't so bad compared to 30 years of house mortgage, 8 year car loans, 10 year personal loans....I'm managing to keep my interest rates at about 3-5% thru special balance transfer offers. Of course I would love to be debt free, but I wanted to acquire lots of gear. I now have what I wanted and am in the pay off mode now. I've been deeper in debt before and managed to pay it down without too much problems.

I can't argue this either way, but I can state my own preferences. I have lots of nice gear, but I gathered more slowly as I could afford it. I don't necessarily think there is a right or wrong way to go about easing our GAS, but there are ways that may be more comfortable than others, and we each seem to have very different comfort levels regarding debt. As I mentioned, based on conversations with other folks and reading the statistics, my (baby boomer) generation seems to embrace debt, where the "depression babies" (the generation before mine) did not. I seem to be more like the depression babies and less like my own generation. What you are doing seems to be the norm, and what I am doing is definitely not.

Tony

[1neeto]

Originally Posted by tbeltrans

I can't argue this either way, but I can state my own preferences. I have lots of nice gear, but I gathered more slowly as I could afford it. I don't necessarily think there is a right or wrong way to go about easing our GAS, but there are ways that may be more comfortable than others, and we each seem to have very different comfort levels regarding debt. As I mentioned, based on conversations with other folks and reading the statistics, my (baby boomer) generation seems to embrace debt, where the "depression babies" (the generation before mine) did not. I seem to be more like the depression babies and less like my own generation. What you are doing seems to be the norm, and what I am doing is definitely not.

Tony

I believe that generation is called the "silent" generation. Anyway, living debt-free is something most wish, but lack the discipline to achieve. Having a high paying job sure helps too. But since living debt free is a mindset, then it doesn't matter how much money you make as long as you live within your means. Which is extremely boring. [emoji23]

But living with debt shouldn't be a nightmare. The problem most people have is that they're not educated in financial literacy. We graduate high school without having a clue on how to even write a check. Exactly how are we supposed to know how to manage that student loan? I remember when I got my first credit card, I didn't understand I needed to pay more than minimum if I wanted to pay the thing off. By the time I was 25, I had a bunch of maxed out credit cards, and could barely make ends meet. I learned my lesson.

But I'm not debt-free, it's just simply something I'm not interested in at the moment, and I'm absolutely fine with that.

[tbeltrans]

Originally Posted by 1neeto

I believe that generation is called the "silent" generation. Anyway, living debt-free is something most wish, but lack the discipline to achieve. Having a high paying job sure helps too. But since living debt free is a mindset, then it doesn't matter how much money you make as long as you live within your means. Which is extremely boring. [emoji23]

But living with debt shouldn't be a nightmare. The problem most people have is that they're not educated in financial literacy. We graduate high school without having a clue on how to even write a check. Exactly how are we supposed to know how to manage that student loan? I remember when I got my first credit card, I didn't understand I needed to pay more than minimum if I wanted to pay the thing off. By the time I was 25, I had a bunch of maxed out credit cards, and could barely make ends meet. I learned my lesson.

But I'm not debt-free, it's just simply something I'm not interested in at the moment, and I'm absolutely fine with that.

Well, as I did say, we all have different levels of comfort with debt. I have always felt that life is unpredictable enough that I would not be comfortable saying I promise to make payments to somebody for a certain number of months or years into the future. The other consideration is having to pay interest. That adversely affects the cost of a bargain and increases the cost of whatever a person is financing. Many folks are comfortable with that. I do agree with your overall comments.

Tony

[architype]

Not nearly enough.

[sawdustdave]

Hmm..

About 19k a year. Enough that I can pay my bills. My late wife's insurance pays the mortgage. No big vacations, but I'm content. My grand piano was bought when I was working in IT.

Part time jobs, two, and time to fish...

[Mr. Jelly]

It doesn't matter, at least to you or any body else. It's mine and you don't have anything to do with it. And you're not getting any of it either. This goes both ways by the way. Often people speak of how much money others have. And it really doesn't matter to me how much someone else has. Only how much I have. Is this selfish?

[LSemmens]

I don't make any money, People like to give it to me. I do a job for someone, and they give me money.

[RedJoker]

I make enough that I'm able to give some to those that don't make enough.

[amyFB]

Originally Posted by 1neeto

I believe that generation is called the "silent" generation. Anyway, living debt-free is something most wish, but lack the discipline to achieve. Having a high paying job sure helps too. But since living debt free is a mindset, then it doesn't matter how much money you make as long as you live within your means. Which is extremely boring. [emoji23]

But living with debt shouldn't be a nightmare. The problem most people have is that they're not educated in financial literacy. We graduate high school without having a clue on how to even write a check. Exactly how are we supposed to know how to manage that student loan? I remember when I got my first credit card, I didn't understand I needed to pay more than minimum if I wanted to pay the thing off. By the time I was 25, I had a bunch of maxed out credit cards, and could barely make ends meet. I learned my lesson.

But I'm not debt-free, it's just simply something I'm not interested in at the moment, and I'm absolutely fine with that.

When I was a kid, in the late 50s and early 60s, my mom gave me an allowance with a condition attached.


The condition was to account for every penny spent, and, for every UNACCOUNTED for penny a deduction was taken from the. Ext allowance.

There was also a bonus condition whereby any money saved to buy gifts for others would be matched at the time the gift needed to be purchased.

I remember my child self filled with 100% resentment and resistance to this setup, especially because I was alone among my peers with this arrangement.

It didn't help that I got $0.25 a week and all my friends were getting $0.75.

Then when I hit 12 or 13 years old, my parents took a new tactic and told me I would have to earn the money by completing assigned regular chores, and, if the chore wasn't done I wouldn't get paid.

We did not buy anything on credit.

I spent years trying to prove my parents lessons of budgeting and accounting were a silly waste of time.

I was wrong they were right.

[PorkPieGuy]

I don't make a ton, but I do really well compared to the poverty that surrounds me within the county.

If I can get this noose of a debt paid off and if the cars keep running without replacing a motor or transmission, I'll be doing pretty good...in about two years.

[Bob Womack]

I make somewhere between and .

Bob

[Rudals]

LOL.
Growing up poor, I thought that making lots of money would bring me happiness but all I got was emptiness.

I thought slimming down to my target weight would bring me happiness but I have never reached it.