Why go be poor somewhere else? this thread is only for people living check to check - Page 1

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[ARCHIVED THREAD] - Why go be poor somewhere else? this thread is only for people living check to check (Page 1 of 6)

Posted: 1/28/2019 10:07:07 PM EST

I have never made more money in my entire life nor have I ever felt so broke. $3k credit card, and mortgage, and electric, and kids dr appt's @ $100/pop.

Wants like a ccw pistol, a motorcycle, a new sliding glass door, or new windows just arent in the near future. Can't sell anything. Can't downsize. having 3 dependents really sucks it out of you.

Why are you broke?

Posted: 1/28/2019 10:08:19 PM EST

[#1]

I'm broke because I'm a dumbass.

Posted: 1/28/2019 10:08:29 PM EST

[#2]

Because Cali...

Posted: 1/28/2019 10:09:27 PM EST

[#3]

I live check to check to pay my bills. But I have 6 months savings in the bank/brokerage.

Posted: 1/28/2019 10:10:24 PM EST

[#4]

Hookers and blow.

Posted: 1/28/2019 10:10:57 PM EST

[#5]

Quote History

Quoted:
I live check to check to pay my bills. But I have 6 months savings in the bank/brokerage.

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does that count your retirement?

Posted: 1/28/2019 10:18:09 PM EST

[#6]

Wife and I grossed $175k last year of which, after you figure in retirement, daycare, mortgage, healthcare, etc. We bring home $44k/yr that we live off of.

It blows my mind how we can make so much money and have so little. I have tried to figure out where it all goes but I swear it just disappears. New tires here, dance class there, brakes are fucked, need new gutters, lawn mower blew up, cars burning oil. Fuck me. We can barely save $2-300 a month if were lucky without something screwing up that needs fixing.

Posted: 1/28/2019 10:20:39 PM EST

[#7]

If you're making less than median income, I recommend developing a plan that will increase your income over the next few years.

If you're making a decent amount more than median income, it's time to really start looking for ways to cut expenses.

Posted: 1/28/2019 10:22:42 PM EST

[#8]

Quote History

Quoted:
Wife and I grossed $175k last year of which, after you figure in retirement, daycare, mortgage, healthcare, etc. We bring home $44k/yr that we live off of.

It blows my mind how we can make so much money and have so little. I have tried to figure out where it all goes but I swear it just disappears. New tires here, dance class there, brakes are fucked, need new gutters, lawn mower blew up, cars burning oil. Fuck me. We can barely save $2-300 a month if were lucky without something screwing up that needs fixing.

View Quote

Yeah you’re pissing it away somewhere else

No way you can burn through $175k and not have $2-300/month to save

Posted: 1/28/2019 10:23:37 PM EST

[#9]

Quote History

Quoted:
Wife and I grossed $175k last year of which, after you figure in retirement, daycare, mortgage, healthcare, etc. We bring home $44k/yr that we live off of.

It blows my mind how we can make so much money and have so little. I have tried to figure out where it all goes but I swear it just disappears. New tires here, dance class there, brakes are fucked, need new gutters, lawn mower blew up, cars burning oil. Fuck me. We can barely save $2-300 a month if were lucky without something screwing up that needs fixing.

View Quote

That's a great income. How big/how expensive of a house did you buy? How much are you putting towards retirement?

Posted: 1/28/2019 10:25:29 PM EST

[#10]

Divorce. Had a plan to retire in 2016 and was on track until she derailed it

Posted: 1/28/2019 10:27:06 PM EST

[#11]

I guess I ultimately am the reason I'm poor, because there are little ways I could potentially hustle and save some more money, but the little things like fast food lunch and free time hobbies are what keep me hanging on. I feel like such a piece of shit knowing what other people overcame and I complain about dumb shit. At least I am self sustaining and don't take any welfare or foodstamps.

I will not have kids unless I am certain of my financial stability, I would hate myself if I raised a kid in an environment like I was raised

Posted: 1/28/2019 10:27:48 PM EST

[#12]

Quote History

Quoted:
Divorce. Had a plan to retire in 2016 and was on track until she derailed it

View Quote

I'm sorry

Divorce is a real killer to financial plans.

Posted: 1/28/2019 10:28:42 PM EST

[#13]

Quote History

Quoted:
I'm broke because I'm a dumbass.

View Quote

FPNI

I should have picked a different undergrad degree program.

Posted: 1/28/2019 10:29:28 PM EST

[#14]

Quoted:
I have never made more money in my entire life nor have I ever felt so broke. $3k credit card, and mortgage, and electric, and kids dr appt's @ $100/pop.

Wants like a ccw pistol, a motorcycle, a new sliding glass door, or new windows just arent in the near future. Can't sell anything. Can't downsize. having 3 dependents really sucks it out of you.

Why are you broke?

View Quote

Broke cuz college tuition, private school tuition, tax surprises, car insurance... Wants like a GT3RS, covered boat lift for the cabin, lawn irrigation just aren’t in the near future. About to have two kids in college really sucks it out of you.

I’m actually being mostly serious, to illustrate that it’s all the same book, even if the covers may look different. Hang in there.

Posted: 1/28/2019 10:29:32 PM EST

[#15]

I spent all my money on a Peloton bike.

Posted: 1/28/2019 10:30:11 PM EST

[#16]

Quote History

Quoted:
Wife and I grossed $175k last year of which, after you figure in retirement, daycare, mortgage, healthcare, etc. We bring home $44k/yr that we live off of.

It blows my mind how we can make so much money and have so little. I have tried to figure out where it all goes but I swear it just disappears. New tires here, dance class there, brakes are fucked, need new gutters, lawn mower blew up, cars burning oil. Fuck me. We can barely save $2-300 a month if were lucky without something screwing up that needs fixing.

View Quote

are you handy? i bought brake pads and rotors from amazon for $75. would have been $500 at the dealership. doing things yourself really saves $

Posted: 1/28/2019 10:31:04 PM EST

[#17]

FPNI

Posted: 1/28/2019 10:31:26 PM EST

[#18]

I earn less than $20k a year and I live pretty comfortably alone even here in Commiefornia of all places. Life is cheap and easy when you live a quiet, minimalist lifestyle. If you live alone and are still broke, you really, really need to take a long, hard look at your lifestyle. There's just no excuse for it, life is cheap and simple without a family to have to support.

Posted: 1/28/2019 10:31:29 PM EST

[#19]

Quote History

Quoted:

Yeah you're pissing it away somewhere else

No way you can burn through $175k and not have $2-300/month to save

View Quote

He absolutely can do that. I just depends on what his home, cars, credit cards etc costs. You can make $500K a year and be broke. You will likely live in a very large house in a very expensive place with very expensive cars, people do it all the time though.

The number means nothing, the ratio means everything.

Posted: 1/28/2019 10:31:44 PM EST

[#20]

Quote History

Quoted:

are you handy? i bought brake pads and rotors from amazon for $75. would have been $500 at the dealership. doing things yourself really saves $

View Quote

I drive older vehicles and do a lot of maintenance/repairs myself. It certainly makes saving money easier.

Posted: 1/28/2019 10:31:45 PM EST

[#21]

Wife and I grossed over $300K last couple years. It disappears quickly.

In TX, too

ETA: not p2p though...

Posted: 1/28/2019 10:31:53 PM EST

[#22]

Quote History

Quoted:
I'm sorry

Divorce is a real killer to financial plans.

View Quote View All Quotes

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Quote History

Quoted:

Quoted:
Divorce. Had a plan to retire in 2016 and was on track until she derailed it

I'm sorry

Divorce is a real killer to financial plans.

i wouldnt be able to pay child support and pay my bills. it would have to be one or the other. i told my wife I would burn everything I have rather than give anything up in a divorce. she knows I'm not joking.

Posted: 1/28/2019 10:32:12 PM EST

[#23]

Quote History

Quoted:
I'm broke because I'm a dumbass.

View Quote

this.

Posted: 1/28/2019 10:32:12 PM EST

[#24]

Quote History

Quoted:
Because Cali...

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Yup. I'm making better money than I ever have, but that just means my only roommate is the dog. Beats the shit out of roommates, though.

I also started shooting more and buying more guns and ammo. No regerts.

Posted: 1/28/2019 10:33:16 PM EST

[#25]

Quote History

Quoted:
I earn less than $20k a year and I live pretty comfortably alone even here in Commiefornia of all places. Life is cheap and easy when you live a quiet, minimalist lifestyle. If you live alone and are still broke, you really, really need to take a long, hard look at your lifestyle. There's just no excuse for it, life is cheap and simple without a family to have to support.

View Quote

how do you live comfortably in one of the highest cost of living states in the country on 20k? are you a cellar dweller?

Posted: 1/28/2019 10:33:36 PM EST

[#26]

Quote History

Quoted:
He absolutely can do that. I just depends on what his home, cars, credit cards etc costs. You can make $500K a year and be broke. You will likely live in a very large house in a very expensive place with very expensive cars, people do it all the time though.

The number means nothing, the ratio means everything.

View Quote

I wouldn't say the numbers mean nothing. Ratios are important, but saving 50% of $1000 doesn't leave you with much at the end of the year. I'd much rather be the guy saving 5% of $500,000.

Posted: 1/28/2019 10:34:01 PM EST

[#27]

Quote History

Quoted:
He absolutely can do that. I just depends on what his home, cars, credit cards etc costs. You can make $500K a year and be broke. You will likely live in a very large house in a very expensive place with very expensive cars, people do it all the time though.

The number means nothing, the ratio means everything.

View Quote View All Quotes

View All Quotes

Quote History

Quoted:

Quoted:

Yeah you're pissing it away somewhere else

No way you can burn through $175k and not have $2-300/month to save

He absolutely can do that. I just depends on what his home, cars, credit cards etc costs. You can make $500K a year and be broke. You will likely live in a very large house in a very expensive place with very expensive cars, people do it all the time though.

The number means nothing, the ratio means everything.

True, but he mentioned all of this small stuff that is preventing him from saving

He didn’t say his $10k/month mortgage was killing him

I make less than half of what he and his SO do, I buy what I want when I want, and still save hundreds a month plus maxing out my Roth IRA and putting 15% into my 401K

I agree the ratio is important, but his must be fucked

Posted: 1/28/2019 10:34:56 PM EST

[#28]

4 kids and a deadbeat wife will get ya every time.

Posted: 1/28/2019 10:35:14 PM EST

[#29]

Quote History

Quoted:
Wife and I grossed $175k last year of which, after you figure in retirement, daycare, mortgage, healthcare, etc. We bring home $44k/yr that we live off of.

It blows my mind how we can make so much money and have so little. I have tried to figure out where it all goes but I swear it just disappears. New tires here, dance class there, brakes are fucked, need new gutters, lawn mower blew up, cars burning oil. Fuck me. We can barely save $2-300 a month if were lucky without something screwing up that needs fixing.

View Quote

Kids are expensive. Opportunity cost and direct costs. Dance and gymnastics will suck you dry. Get her into soccer or basketball.

Posted: 1/28/2019 10:35:22 PM EST

[#30]

Quote History

Quoted:
I wouldn't say the numbers mean nothing. Ratios are important, but saving 50% of $1000 doesn't leave you with much at the end of the year. I'd much rather be the guy saving 5% of $500,000.

View Quote

You are correct. I was meaning to say, just because someone makes what appears to you as a large income, that doesn't mean that money cannot be very easily spent as fast as it comes in. It's just relative to their specific living costs.

People do it constantly.

Posted: 1/28/2019 10:35:29 PM EST

[#31]

Quote History

Quoted:
I spent all my money on a Peloton bike.

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You must have an amazing solarium.

Posted: 1/28/2019 10:35:39 PM EST

[#32]

Quote History

Quoted:
I earn less than $20k a year and I live pretty comfortably alone even here in Commiefornia of all places. Life is cheap and easy when you live a quiet, minimalist lifestyle. If you live alone and are still broke, you really, really need to take a long, hard look at your lifestyle. There's just no excuse for it, life is cheap and simple without a family to have to support.

View Quote

$1670/month? Do you have a shack in the middle of nowhere and drive into town to buy ramen and k-mac?

Posted: 1/28/2019 10:36:09 PM EST

[#33]

Quoted:
I have never made more money in my entire life nor have I ever felt so broke. $3k credit card, and mortgage, and electric, and kids dr appt's @ $100/pop.

Wants like a ccw pistol, a motorcycle, a new sliding glass door, or new windows just arent in the near future. Can't sell anything. Can't downsize. having 3 dependents really sucks it out of you.

Why are you broke?

View Quote

Wife and I make a damn good living and I feel ya OP.

Try taking a 3 year old to the emergency room. 1K just to get in the door

Posted: 1/28/2019 10:36:09 PM EST

[#34]

I am not rich but I make more with every change in career and using tax havens. You guys can do it!

Again, I'm not rich but you can user 401ks, healthcare spending accounts, (dependent spending accounts if you have kids).

You guys can do this. Shop yourself on the maket and take some time to learn about tax code. You can make more, you should make more.

You're not trapped, explore other companies in your field. Especially with upward mobility based on performance.

Not everyone can get rich (myself included) but get comfortable!

Posted: 1/28/2019 10:36:14 PM EST

[#35]

Quote History

Quoted:
He absolutely can do that. I just depends on what his home, cars, credit cards etc costs. You can make $500K a year and be broke. You will likely live in a very large house in a very expensive place with very expensive cars, people do it all the time though.

The number means nothing, the ratio means everything.

View Quote

This man gets it.

Posted: 1/28/2019 10:36:45 PM EST

[#36]

Quote History

Quoted:

how do you live comfortably in one of the highest cost of living states in the country on 20k? are you a cellar dweller?

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I'm in the Central Valley, it's the poorest region of California and back during the housing crash you could get really cheap houses for less than $30k. Could make a tidy profit now selling it but I don't plan on moving, this is my home.

Posted: 1/28/2019 10:36:48 PM EST

[#37]

Single income ($19hr) 16 year old daughter. Two car payments. House payment. Insurance. And all the other living expenses. And divorce. Still put about 400 a month into retirement.

Poor, but happy.

Posted: 1/28/2019 10:37:45 PM EST

[#38]

Quote History

Quoted:

True, but he mentioned all of this small stuff that is preventing him from saving

He didn't say his $10k/month mortgage was killing him

I make less than half of what he and his SO do, I buy what I want when I want, and still save hundreds a month plus maxing out my Roth IRA and putting 15% into my 401K

I agree the ratio is important, but his must be fucked

View Quote

I'm guessing it's a bunch for mortgage and child care.

I made a little over half what he made last year. Maxed 401k, maxed two Roths, paid down my last $10k in school debt, bought a used camper, and bought $10k+ in guns last year.

ETA: Also have four kids and SAH wife.

Posted: 1/28/2019 10:37:45 PM EST

[#39]

Quote History

Quoted:
Wife and I grossed $175k last year of which, after you figure in retirement, daycare, mortgage, healthcare, etc. We bring home $44k/yr that we live off of.

It blows my mind how we can make so much money and have so little. I have tried to figure out where it all goes but I swear it just disappears. New tires here, dance class there, brakes are fucked, need new gutters, lawn mower blew up, cars burning oil. Fuck me. We can barely save $2-300 a month if were lucky without something screwing up that needs fixing.

View Quote

Your saving $300 per month looks pretty damn good when nearly 2/3 of Americans can't come up with $500 and a huge number of them aren't paying towards owning a home or saving for retirement.

Posted: 1/28/2019 10:38:56 PM EST

[#40]

Quote History

Quoted:
I spent all my money on a Peloton bike.

View Quote

Just wait til she decides she wants the treadmill to sit alongside it...

Posted: 1/28/2019 10:39:25 PM EST

[#41]

I'm 43 and have about $900 to my name. Live in the country trash ghettos outside Memphis. Don't have any real worthwhile money making skills and got reamed up the ass paying child support for the next 10 years. I'm poor as fuck but I still like me some AR's and other firearms

Posted: 1/28/2019 10:40:08 PM EST

[#42]

Quote History

Quoted:

$1670/month? Do you have a shack in the middle of nowhere and drive into town to buy ramen and k-mac?

View Quote

Nope, and I only spend $50 a month on food too. Rice bought in bulk, meat that I buy when on sale and veggies that I grow and cook myself, it's simple and not exactly gourmet-tier but I'm still alive.

Posted: 1/28/2019 10:40:10 PM EST

[#43]

Quote History

Quoted:
Wife and I grossed $175k last year of which, after you figure in retirement, daycare, mortgage, healthcare, etc. We bring home $44k/yr that we live off of.

It blows my mind how we can make so much money and have so little. I have tried to figure out where it all goes but I swear it just disappears. New tires here, dance class there, brakes are fucked, need new gutters, lawn mower blew up, cars burning oil. Fuck me. We can barely save $2-300 a month if were lucky without something screwing up that needs fixing.

View Quote

That’s mind blowing.

Our income more than doubled from 2017, and I still wear the same clothes and shoes. It I feel you, the more you make, the more expensive your tastes become.

Posted: 1/28/2019 10:44:28 PM EST

[#44]

I'm broke because I'm profoundly broken.

Thought I was the foster kid that beat the odds.

At 56 I now see how that was all an illusion.

Posted: 1/28/2019 10:46:13 PM EST

[#45]

Quote History

Quoted:
I'm guessing it's a bunch for mortgage and child care.

I made a little over half what he made last year. Maxed 401k, maxed two Roths, paid down my last $10k in school debt, bought a used camper, and bought $10k+ in guns last year.

ETA: Also have four kids and SAH wife.

View Quote

By the way, I by no means mean to come across as I am not also guilty of this same thing. My wife and I used to live on about half our current income when we first started out. We just have more "stuff" now. We could do with some trimming of the fat ourselves.

Posted: 1/28/2019 10:49:09 PM EST

[#46]

I make 6 figures. I’m supporting a family of five on a single income.

It was easy in NH. We had a lot of extra money each week. Then we moved to CA (same company, same income). I’m fucking broke, have no idea how I’m going to re-register our cars next month. My wife works now and my daughter helps out, but this state sucks.

I just have to make it one more year and we’re out of here. If I can afford a UHaul.

Posted: 1/28/2019 10:53:34 PM EST

[#47]

A written budget is the fix for most people living check to check. Also most folks could work a second job if truly needed but won't.

ETA living in a high cost of living area is usually not a wise choice no matter the education or skill set.