DEBT FREEDOM...how many see it as the first step to SS?

[DrakeMaiden]

I prefer being the "poor" person on the block. In general, no one asks me for money.

It is amazing though, what people think they can figure about you just because of how you look. Just amazing.

Edited to complete a sentence.

 

[Cassandra]

I prefer being the "poor" person on the block. In general, no one asks me for money.

I know what you mean!

Twice in the last several months I have had people ask me to borrow money and I was astounded! This has never happened to me before. Then I had a long sit-down-and-think with myself to try to figure out what I was doing that was giving people the impression I had spare money!

Because 1), I do NOT have spare money and 2) if I did, no one should be aware of it (It should be saved or invested. not spent on stuff that gives people wrong ideas!)

Cassandra

 

[FarmerChick]

so many are having hard financial times, this is when you start to hear that ---oh, so and so had to ask money from their parents----oh, so and so lost their job and need help, etc. etc.

our pre-school is at church and when a family loses a job, they ask for donations. of course, what comes in.....hmm....boxed mac n cheese, campbells soup etc...of course convenience food, but it is food!!! and it helps the parents know that there is something to feed the kids. just a small relief to help them.

I offer my meats. So at least with all those side dishes they have a main course..HA HA



but more and more we will hear people asking for help that normally might not.

our big United Way in Charlotte said they are seeing so many middle class types asking for help cause of foreclosure and job loss....and to think it might get worse!


tough times--they are a'happenin'

 

[PamsPride]

Yep, I choose to be frugal so I can have $$ in the bank!
I have had a couple people...one person in particular...be kind of snotty and resentful toward me because she CHOOSES to work. Makes GREAT $$ and spends it on whatever she wants and then is in debt up to her eyeballs. Then makes fun of me because I use homemade tp!!!
I think I am spending WAY LESS now than I was a few months ago on groceries and toiletries. By making my own tp, napkins, and laundry soap we are not running out of those items causing us to make a trip to the grocery store to 'restock'. When we do that I tend to think I need to restock ALL of the groceries too at that same time. When actually we have just been able to eat out of our freezer and pantry...forcing us to use up some of the food we already had on hand rather than shopping for more. Less time in the store, less impulse buying, and less junk food in the house!!

**HA HA...why replace when you know the problem will still be there.**
LOL!!! And my problem is times 6!!!!

 

[DrakeMaiden]

Not sure Cassandra, maybe you just naturally have that well-to-do look. I'd hate to be in a situation where someone asked me for money. That would be very uncomfortable for me.

Now, on the other hand, I have been thinking about donating to one of the food banks in our area. I prefer to give anonymously. I guess I would assume that most people would prefer to receive assistance anonymously as well. Hard to say. I guess it depends upon one's character.

 

[PamsPride]

I prefer being the "poor" person on the block. In general, no one asks me for money.

It is amazing though, what people think they can figure about you just because of how you look. Just amazing.

Edited to complete a sentence.

ITA!!!!!

It is funny what people will 'think' about you!! I used to get hand me downs for my DD all the time until I started making her clothes!! When people see my DD wearing these over the top outfits they assume she does not need hand me downs anymore!! Ummm...she does NOT play in these clothes!! They come off the minute she gets home!!

 

[DrakeMaiden]

So, Pam, I'm surprised you would tell such a character that you make your own tp. I would only expect bad things from such a person. I sympathize, because I have a friend who leans in that direction.

Who knows. Maybe some day she will show up on your doorstep asking to borrow some of your homemade tp?

 

[enjoy the ride]

I don't consider myself poor by any means- my house is paid off and I am retired.
But my income seems to be in a race with the end of the month every time. I think it is clearly my own fault as I don't like to go into debt but if I am not in debt, I have a tendency to consider it as free money to spend especially with the small left overs I have now. I do not save well. I can even say that I do put aside money for recurring expenses like the property taxes and hay purchase.

But if something is not normal or is unexpected, I never seem to be prepared to cope.

So unless one is a really good manager or unusually well off, is there ever a time when life doesn't have some scrambling? I think, like Hamlet, that the fault in not in our stars but in our selves.

Boy was that a pompous remark but I believe it.

 

[me&thegals]

Just refinanced and knocked down our interest rate to 4.375 and 15 years. Yay! Now I have to do the math to figure out how much interest that will save me. Wouldn't it be great to have no debt? But, I'm excited enough to have our land (which we could not have purchased in cash) and home that allow us such a great level of sufficiency. And excited to be out of all debt by the age of 49, if everything goes okay and nobody is permanently disabled (uggh!)

That's a great rate me&thegals! Can you explain a little about what you had to do and what it cost you to refinance? My husband and I are wondering if we should be trying to but we don't even know where to begin!

Glad to try to help When we heard rates were dropping, we called our loan officer. He sent us a fairly thick stack of papers to sign. Most of them are just signing and dating, but the more complicated ones we need lots of $ info--our income, outstanding debts, savings and checking acct. info, investments, 401K, etc. Basically, what are all your debts and what is all your income?

Then, we handed that in, asked to be called when the % hit a certain rate and got a call today that it had actually dropped below that!

So, our original loan was for 20 years at 5.375%. That was 5 years ago, so we just refinanced to a 15-year loan at 4.375%. It will only drop our payments about $65-70/month, which is actually still pretty exciting. We will have our refinancing charges paid off in a year. The total interest savings is somewhere around $25,000!!! I had a mortgage calculator online, but they were only giving me averages. I didn't have the whole amortization schedule figured out...

So, probably about 3-4 hours time total for a massive savings!

 

[FarmerChick]

yea pam I hear you on times 6....that has to be hard. my 1 kid is hard on things, 6 I KNOW WOULD BE HARD on things...LOL

but like you mentioned about that other person.....choosing to work and then put yourself in more debt is just crazy.....it is like, I choose to work, so I can buy things and be in debt maybe, then I have to work to keep paying off that debt..........vicious cycle. Some people's reasoning is off but to them in makes sense..LOL

who knows right.


to me, now, I want time. time to kick back, relax, not worry. honestly the medical problems for so many are going to surface with these hard times. people who are under stress etc. and are getting pushed to their limits etc...well medical problems become more severe under bad circumstances sometimes.

so these rough times, like you, I want to be the one that can smile a little and say, hey, all the frugal stuff I do means I might not suffer as bad. it is a good feeling to know I do have those SS ways to rely on.


yup, you are like me. I never hit a store for 1 or 2 items I need. I have that stupid mentality...I am there anyway, might as well get what I need.....and that bill then snowballs..lol

I was going to stop at the store for some juice for Nicole and said nope, she can drink milk or water til I decide to shop again. I aim on not going to the store for at least another 7 days. I am doing the same, eating out of my home and cutting that bill.

hey, my home has good food here..HA HA HA...I should have, I got alot in the freezer and pantry for hard times...LOL



I never understand someone who has no pantry. Some people eat out all the time, never stock anything in their home, shop for only 1 weeks worth of food. WOW.....whatever floats your boat but me, I gotta have some stock!