Hard times for some.

[Fine69]

Both my F350 and Ranger are paid in full!

 

[f100cleveland]

0 payments on the 06 SD, 06 Five Hundred, or any other vehicle or toy. Daughter is starting school for nurseing this fall so that means at least 4 years of payments.

 

[Maxtor]

It sounds like most of you have low or no payments, which is a good thing.
Paying the high fuel bills is a lot better when you do not have payments or the payments are low. We have to believe that things will get better in the near future.

 

[95_stroker]

Lets keep politics out of this thread. Thanks.

If your post is missing or has been edited it is because of that.

 

[95_stroker]

It sounds like most of you have low or no payments, which is a good thing.
Paying the high fuel bills is a lot better when you do not have payments or the payments are low. We have to believe that things will get better in the near future.

Part of the problem is that folks leveraged themselves to the very Nth degree. Some have 100% loans on their homes, credit cards maxed, two or three car payments and then add an RV payment in there. We buy all this "stuff" ($50K trucks, $30K RV's) and then expect to be able to operate them for 70 or 80 dollars worth of fuel per month not taking into account that the price of fuel is not FIXED, it is a publicly traded (worldwide) commodity that goes up and goes down with market fluctuations and economic conditions.

We as Americans havent even begun to experience hard times. Max, you are a bit older and may have a few brief memories (or your parents and relatives related them first hand to you) of the great depression. Those my friends were hard times, soup lines, unfathomable unemployment, bankruptcies, stock market collapse, total economic meltdown in the US.

We dont have a clue today, not a clue.

 

[RoyBoy]

All I can say is that I'm blessed, no payments on anything.

At $4.10 a gallon, the truck is around .34 a mile just for fuel

The Beetle would be about $0.09/ mile

And yes, most people have no idea. Their idea of "affording" something is if they can make the monthly payment. When you have a whole country for the large part doing that, you get into trouble. I watched my father borrow money and work hard to pay it off, along with some bad deals that lost money... he recommended it better to stay out of debt as much as possible. So, at 27, I'm running a small successful business (and giving thanks to the Lord that made it possible) and have never borrowed a penny. It sure makes life more enjoyable not having to slave away to keep the banker happy. I may buy a house in the near future, but would be borrowing only about 15- 20% of the house's value, and paying it off in the short term...I do feel for you guys that are hurting right now, and I hope that you can pull through soon

 

[bushpilot]

its the sense of ENTITLEMENT that gets me...no one wants to work
or pay their dues…god forbid anyone actually SAVE or WAIT
until they can pay for something…even at that too many folks cant
seem to distinguish their wants from their real NEEDS !

too many drive around in brand new big bucks cars and have to use
a credit card to pay for their groceries cause theres no money in the bank

 

[Maxtor]

Part of the problem is that folks leveraged themselves to the very Nth degree. Some have 100% loans on their homes, credit cards maxed, two or three car payments and then add an RV payment in there. We buy all this "stuff" ($50K trucks, $30K RV's) and then expect to be able to operate them for 70 or 80 dollars worth of fuel per month not taking into account that the price of fuel is not FIXED, it is a publicly traded (worldwide) commodity that goes up and goes down with market fluctuations and economic conditions.

We as Americans havent even begun to experience hard times. Max, you are a bit older and may have a few brief memories (or your parents and relatives related them first hand to you) of the great depression. Those my friends were hard times, soup lines, unfathomable unemployment, bankruptcies, stock market collapse, total economic meltdown in the US.

We dont have a clue today, not a clue.

You are exactly right.
That is why some of us older folks tend to hoard some things, especially food. I did not experience the hard times of the depression, but was first hand to the effects to those around me. It was drummed into my head to save, save, save. 20 years ago when we paid off the house, we made a pact not to purchase anything that we could not pay cash for. We have saved a lot of money by paying cash. "No interest payments"
Not everyone can do this, so you have to do what you have to do.
Some of my friends are two paychecks away from bankruptcy.
We as a country have gotten to used to credit cards and other ways to make it easy to purchase something without thinking how much it will cost in the long run.
If you read into what some of the guys above said, what they felt was relief to now be out of debt, and have everything paid off. To accomplish this, you take baby steps, and do one debt at a time, faithfully not purchasing anything else until all the debt is gone excluding your house payment, which normally is a 20 or 30 year loan.
As you said Stroker,,, We don't have a clue of what hard times are compared to the depression era, but what has happened in the past could happen in the future, so be prepared.

 

[95_stroker]

You are exactly right.
That is why some of us older folks tend to hoard some things, especially food. I did not experience the hard times of the depression, but was first hand to the effects to those around me. It was drummed into my head to save, save, save. 20 years ago when we paid off the house, we made a pact not to purchase anything that we could not pay cash for. We have saved a lot of money by paying cash. "No interest payments"
Not everyone can do this, so you have to do what you have to do.
Some of my friends are two paychecks away from bankruptcy.
We as a country have gotten to used to credit cards and other ways to make it easy to purchase something without thinking how much it will cost in the long run.
If you read into what some of the guys above said, what they felt was relief to now be out of debt, and have everything paid off. To accomplish this, you take baby steps, and do one debt at a time, faithfully not purchasing anything else until all the debt is gone excluding your house payment, which normally is a 20 or 30 year loan.
As you said Stroker,,, We don't have a clue of what hard times are compared to the depression era, but what has happened in the past could happen in the future, so be prepared.

I grew up in the upper midwest during the early 80's. I remember 16% and 18% interest rates, I remember the S&L failures and the farm foreclosures. We operated our farm on machinery purchased at the foreclosure auction sales. I will never forget the looks on the faces of the owners being forclosed upon. My grandfather operated that very farm throughout the depression years. My grandmother milked the cows. I had all those lessons and stories beat into my head from a young age.

You mention hoarding food, my wife and I find ourselves doing the same. To the point that sometimes we almost break out in fits of laughter when we come home from the store with food that we already have on the shelf.

 

[BIG JOE]

You are exactly right.
That is why some of us older folks tend to hoard some things, especially food. I did not experience the hard times of the depression, but was first hand to the effects to those around me. It was drummed into my head to save, save, save. 20 years ago when we paid off the house, we made a pact not to purchase anything that we could not pay cash for. We have saved a lot of money by paying cash. "No interest payments"
Not everyone can do this, so you have to do what you have to do.
Some of my friends are two paychecks away from bankruptcy.
We as a country have gotten to used to credit cards and other ways to make it easy to purchase something without thinking how much it will cost in the long run.
If you read into what some of the guys above said, what they felt was relief to now be out of debt, and have everything paid off. To accomplish this, you take baby steps, and do one debt at a time, faithfully not purchasing anything else until all the debt is gone excluding your house payment, which normally is a 20 or 30 year loan.
As you said Stroker,,, We don't have a clue of what hard times are compared to the depression era, but what has happened in the past could happen in the future, so be prepared.

Xs 2 MAX, and Xs 2 Stroker..

My Sentiments Exactly.

Being one of the Older set (as compared), I would also STRONGLY SUPPORT Max's statement about [Being Prepared]. We, as a Nation, have enjoyed 40, or so years of Prosperity.. But "Prosperity".. on Credit. (Credit to easily obtained these days, IMO)

With the price of "Consumables" (Food & Fuel) creeping up, and no end in sight..... For the foreseeable future (?) We ALL need to [Be Prepared]. Big Time.

It Aint Over, Where She Stops ? No Body Knows.