Been married over 30 years now. Wife and I were stupid kids when we first got married, did the credit card debt once and really hurt us. Learned a LOT those first 10 years. Never again. Pretty financially secure with a large amount saved up. No new cars, just a little left on the mortgage (done this year) and one college loan I am helping the kids with.

2 years? Debt free barring a disaster.

Don't spend money you ain't got, on shit you don't need to impress people that you don't like.

You are 100% right.
I used to be this way, maybe not as bad as not being able to pay rent, but there were times I put myself in a tough spot over some impulse buys.
I've gotten a lot better, but I still find myself impulse buying small stuff because "it's only a few bucks". But those few bucks here and there add up quick and next thing I know I'm "broke" for the rest of the week.

Depends on the amount of rewiring but it's difficult.  I know an inky woman who's fighting her 3rd baby daddy in court for child support.  Saw her meet a guy with tattoos all over his head and she immediately kicks into flirt mode.  She's poor and will always be poor because she makes the same bad decisions over and over again.

Vince Young was also borderline illiterate, and not the sharpest knife in the drawer to begin with. Add in an entourage of gold digging family and “friends”…..

My case is slightly different.  I am not poor, but I am an impulse spender.  Not on fireworks or booze, but hobbies - especially gun stuff.
My case is rather, I am not rich because I am an impulse spender.

Huh? I thought I was poor because I work part time retail and that's my only source of income. I don't live pay check to pay check though.

Some very good advice but in order to make it work a change in mindset is needed. One man's "eating crow" is another man's "I'm making bank by driving a paid for beater with a heater". I worked with a group of guys who made good money and were good at managing it but took pride in how long they could keep said beater cars going. I had an absolute POS Cavalier that got me to work every day for years.

Sounds like your talent pool is shit.

One more thing about Dave Ramsey: I disagree with him on a few things but I think his program is a great start for a lot of people.  I'm kind of running out of patience with posts saying people should take advantage of this or use credit to build that, bla bla.  All that stuff can come later as people continue to learn.  Seeing family members continue to struggle with choices that keep them poor has softened my stance on the dude, warts and all.  His product and approach is sound and we'd all be better off if more people used it.

I grew up with a guy who would get his pay check and go straight too the titty bar and blow the whole thing. He was always trying to sell crap and bum money to pay his bills and feed his kids..

It's a good book. I read it and it helped me. We never had a set budget before. That was a game changer. We also cut credit card spending a lot. I know Dave says not to use a credit card at all. We use it for food and gas.

Credit can be a fickle bitch if used improperly.

I have I think like 60k in business debt at the moment, every single penny (aside from the interest) was either job related costs or work assets, and I'm due for a check for about 60 grand this week, so all of that debt except my truck payment is going to be liquidated.

At one point though I had almost 20 grand in CC debt on shit I didn't need that didn't provide any actual value, it took me a long time to dig out of that hole, and I learned about only using debt to service income, or float me through a job, then pay it off immediately.

Now I just finance 1-2 items at a time, use the CC or credit line when needed (my fixed rate CC is actually cheaper to use than our line of credit), and wipe that whole balance out as soon as our draws come in.

His program is beneficial to just about everyone. I even bought a 10 pack of his book and gifted them to members here and friends at work. Anyone that has read it and did his program has come back and thanked me for giving them the book. It's simple advice that is well packaged and it works.

Liquor and fireworks are hard assets?

We all might be fucked but we won't all be wasting money on fucking fireworks and booze when it happens.
Not smug arrogance, that is just 100% fucking stupid and 100% the fault of that moron for doing that.
The fact that anyone has any sympathy for broke assed motherfuckers that waste money they don't have is absolutely ridiculous.

Some people are poor because where they live fucking blows as far as taxes and COL.

I'm poor. I can't afford a house within an hour of my current job that a) will pass VA inspection and b) isn't in an area that is best described as "mostly peaceful".

I moved to this area because I was told it was easy to find work. What I didn't know: the reason it is easy to find work is because it is all in dying trades with pay that has consistently trended negatively compared to inflation for the last 30 years. Cost of living calculators are all thrown off by the the subsidized housing in the county seat.

The guy who trained me in my trade was trying to tell me the other day about how I'm over paid because he only made $XX/hr when he was at my level (he is one pay grade above me and maxed out). He is one of the very best in the trade, but is a typical boomer when it comes to (not) understanding inflation. I plugged the amount he quoted into an inflation calculator and in 2021 dollars it was more than he makes now. So, 25 years, getting a promotion and a couple of raises to max out pay grade, and adjusted for inflation getting paid less.

JuSt LeArN a TrAdE!

I recently started looking at moving to Florida. There are places I could move to in Florida where I could take a $3.50/hr pay cut and still come out ahead of where I'm at now.

The flip side of this is I have a pledge brother who is poorer than me, even though he makes ~2x what I make, is single with no kids, works remotely, and has no car payment. He lives in LA. I'm pretty sure he pays more than my annual gross in taxes alone.

I know one thing. Having more money will NOT fix your money problems.
I know a guy, mid fifties, a doctor as in MD, that I know for a fact brings home at least 15,000 A MONTH. He doesn't live extravagantly, regular house, regular cars. But he is always BROKE.  I house watched for him and  there were disconnect notices from the gas company. IRS liens. You name the financial issue, and this guys got it.
Some people are just destined to be broke.

There you go, you found the problem. You couldn't buy a fucking 8-12 year old Corolla or Civic? You could easily find one for half of your current payment and half the insurance too probably with plenty of life left before it become unreliable.

Here's one with only 67K miles
Corrola

Once children learn how to count, finances should be incorporated.

A friend (employee) in need will remember you the next time he is in need…

I know that’s not how it goes, but you have to learn to not feed strays, because they will remember where their free meal comes from.

You serve them better by offering additional (hard) work….if you offer anything at all.

Real men drive trucks that get 12mpg.
Any less and you are a woman.



I have work with a guy that burns through 70k trucks every two years and whines about credit card debt.

OP sounds about right for a good portion of the population. I have known people like that my entire life.

That's probably the only reason I am not poor. Very little, if any, impulsive spending.

I know some people in my life think I do that but they don't see me saving up money for months or selling things to buy something I might want.

This

I still drive a 2000 jeep Cherokee that I bought in 2013 lol. At that time the wife needed a new car and I wasn’t about to have 2 payments. Paid $5200 for it 8 years ago and have put maybe $1200 into it since repairing it myself. Find a good older used car. Doesn’t have to be nice or cool, just needs to be solid and known for reliability. Bonus points for cheap and easy to fix.

@Wolverine1776, the key is to take a close look at what you spend and see where you can trim the fat. This is all temporary. Make small goals that you can achieve reasonably quick. 1-2 years.

How often do you eat out? That’s probably one of the most expensive things people do. Cooking for yourself is very easy and cheap. We are a family of 3 and our grocery fund is $200/week. Sometimes we don’t spend it all lol. If we got to McDonald’s and get 2 meals and a happy meal, it costs $25-30. That’s insane. We can make a full meal with left overs for less than half of that.

Do you get coffee in the mornings on your way to work? $3-6 a day adds up. You can get store brand coffee for $6-8 in tub that will last you a month.

Do you have any assets you could sell?

It’s really easy. Just start writing down everything you spend money on. It’ll blow your mind when you see how much money you spent on something you didn’t even think about.  

ETA: I’ve been in CC debt of over 12k, twice, when younger and stupid. It’s been many years since I’ve not paid my CC off each month. I’m now in a spot where I may be required to get a medical procedure to keep my job, but they can choke on it. I’ve got money in the bank, no debt beside the house, and a retirement fund. I’m a millennial, so no boomer comments.

The place Americans, particularly men, destroy their finances is in their cars.

Most wouldn't buy a 50k beemer, but a 50k truck that costs big bucks to fill the tank? Nobody batts an eye.

I cry when I have to swipe my card twice to fill up the work truck.

I wish I could still get something like my '94 Nissan XE hardbody. That thing would get me through the week on like $10 worth of gas (at the time). Not that it would do me any good for work, but as a personal vehicle it would be awesome.

True, it isn't only about making more. I brought home almost $16,000 for the whole year, no other income, am never broke, everything I have is paid for. I had to pay $350 cash last week to get a cracked tooth pulled, it didn't cause any financial problems.
All of my expenses for this year were under $11,000.

Make more or spend less or do both, currently I prefer to spend less and work less. Maybe I'll have to get a real job again at some point but hopefully not. I want to enjoy my life and my new place, that doesn't require much money.

I feel bad for low wage earners, it wouldn't take much to get in a hole you can't get out of. Say you earn $13/hr and have no marketable skills. Around here, even the worst apartments are $8-900/month, that's close to half your take home. Forget ever buying a home, starter homes are $250k+.  Add in saving enough cash for a used car and having a reasonable grocery budget, and it leaves little left for rainy day savings. Better get yourself some skills, or you'll be poor forever.

I read a great book called "Scratch Beginnings" a few years back, that I recommend to those who make excuses as to why they can't get ahead.  The premise is the author challenged himself to start with $20 in his pocket and a bag of clothes, and within a year have housing,  a car, and stable employment.  It's a great read that walks you through the decision making process of lifting yourself from poverty.

The impulse control component is spot on though. Ever notice how Wal-Mart has all their big screen TVs on display at the entrance around  tax return season?

Step one - Sell that fng thing in your avatar and buy a 5-10 year old basic bitch used vehicle. FFS my net worth is so close to breaking 1 mil I can taste it yet I drive a 10 year old ,2wd ,V6 f150.??

Grew up poor as shit, the idea of owning a new vehicle was a pipe dream, got used to driving shit boxes.. Ironically driving shit boxes has very likely put me well over 200k ahead of those that drive nice rigs in regards to lifetime spending. I'm 41.

That’s for sure.

So many 70k trucks driving around in my town.

A carpenter I know recently bought a very high trim packaged truck, with a diesel, cost 20 grand more than my work truck.

His excuse "I needed the write off". No he didn't, you can't write off the cost of a vehicle, only the interest and depreciation, he just wanted to justify that huge monthly payment on something shiny.

I got the lowest trim package, but with the cool looking rims, saved a pile of money.

Most of the problem is mindset .

When I got divorced I was fuckin A poor . Second jobs to get by , I only ate dinner when my kids were here.

Hell there were two winters I heated my house with a kerosene heater only . (Coldest My House would get is 42 )

Working 6 days a week and waking up to a house that’s 42 makes for a grumpy motherfucker I’ll tell ya


I didn’t buy Shit , and I mean nothing except food . Took a few years but slowly and surely I made progress .

I was angry at the world, but I told myself , no motherfucker can defeat me , nothing will stop me from making a better life .

It pays off but you have to want it , and want it badly .

Most poor people are stupid and lazy . Those that aren’t won’t be poor forever

ive got to start reading usernames.

Not a wage slave.

People aren’t poor by chance. This is why no amount of money given to them will deter them from being poor.

Stupid I can feel bad for, lots of people are born dumb, they simply can't make good choices.

Lazy though, I just don't get it. On a Monday morning, if you don't want to get your ass up and go make some money, there's something wrong with you. Not a single person alive doesn't want nice things, but will say they don't to justify not having bust ass for them. It's extremely gratifying to work hard at reaching a goal and watching that vision kind of bloom. Seems like it takes forever though, and people hate that.

What businesses? Is that how you run yours? That’s not how I do it, nor anyone I know.

Hell -

We are still currently teleworking and need our computer 100% with the internet to do our work.

Guy has a kid and is a single parent.

One Monday he does not show up for work untill11:00 am.

Ask him why he is late?
Said his internet bill was not paid and they cut off his service.

WTF- what kind of priorities do you have?
You feed your kid and have health insurance because of your job.
You don’t pay your internet bill?
What is wrong with youngsters today?

Your image is what matters most bro! Didn’t you know?! If you have the money to have that nice stuff AND be setting up a solid financial future, awesome! I don’t have that much money, so the future gets the focus.

My ex-wife is the same way. She burns through every dollar she has.

Mid fifties now, 30+ years ago I was working as a shop floor Supervisor in an industry were I had 24 employees reporting to me. Many of the stories here remind me of those days. A lot of excuses, people living for the moment, in over their heads, poor decisions etc. There was one lady who worked for me that had an interest in learning about the company 401 that HR had mentioned. She was only a couple of months removed from working for the Temporary Agency so she was not making a lot of money.We started talking and I shared with her that I was participating and that she should do the same. She didn't fully realize what a 401 was much less compound savings. We spent some time talking off and on during the course of the next couple of weeks. I shared with her basic concepts of compound interest etc. and encouraged her to at least contribute the minimum to get her full company match. I didn't think much of it and one day a month or so later she shared with me that she had signed up and was contributing what she could. Long story short I took another role with the company and moved into sales working for another Division, this lady stayed and eventually took a role that led her off of the shop floor and into QA where she spent the next 30 years. Over the years I would see her occasionally saying hello and asking how she was doing but never gave our conversation years ago a second thought.

I was in the office for that Division recently when someone came up and tapped me on my shoulder, it was the same lady who sat down with me 33 years ago and asked about the 401. She asked me if I remembered encouraging her to participate, I said yes I remember that conversation and then she told me she was getting ready to retire. Her husband was retiring from a local manufacturing plant and had a pension, and combined with what she had saved they were looking forward to the next phase of their lives. She wanted to thank me for that conversation we had many years before as it allowed her to begin saving and because of that she was now able to retire. I was caught off guard but very happy she shared that with me and for a moment it made me realize sometimes a discussion or just talking and sharing thoughts can actually make a difference

I don't either.

The new truck this year was mandatory though, my old work truck died a horrible death and it's my most used tool.

I just had work it into my pricing, sucks paying on it though.

I usually buy low miles used....but we know how that went the last year and a half, there was more value in buying new.

Read the title, read the op, I guessed the OP.

I try to talk to as many of the nuggets I can at work. Steer them away from the shiny new trucks and get them maxing their retirement contributions ASAP. I wish someone had done that for me.

I try not to make judgment but a guy who spends money on fireworks and liquor without having provision for diapers is pretty much scum.

Life throws you a curveball once in a while and you have to make the best of it. You weighed the pros and cons and chose the best option. That’s all you can do. I want a new truck! Maybe the end of this year, we’ll see.

I have a friend like that. He works construction, and every Friday night he hits the strip club, etc., and he’s broke by Monday. He spends the rest of the week borrowing lunch money. He rode a bike for a long time, peddling his ass to and from work, but eventually bought a car - at very high interest, financed by Santander.

never touched a cent of that money, we never spent any of the covid relief cash either......it's all in savings, my saving accounts have never had any withdrawals on them.

I don't have a family so my expenses are low, but I also don't make a huge income.  I'm in the National Guard, I make a little in dividends, and I have an online business, and all in all I make about 30k net per year.  That's equivalent to about 16 dollars an hour at 40hrs/week.  But I budget everything I spend, and I keep spending below $1000 per month, sometimes under $900.  That includes everything - utilities, insurance, property tax, food, gasoline, and $100 for extra stuff.

With that extra money I saved up and then bought outright 34 nice acres in the country for about 60k, saved up some more and bought outright a small house, and then worked on designing a house (the design itself took me about two years to complete), and then built the house almost by myself.  It was a 10+ year process, and I only moved into the house I'm building last January.

Now I have a small 1000sf house worth about 80k that I need to sell, and a new 3800sf house on 34 beautiful acres that's probably worth 450k+ that I only spent 250k to buy/build, and no debt.  It takes long-term plans, enormous flexibility, and goals.

I spend money when it should be spent and pay for quality, but if I don't need it I don't buy it.  When I was younger I spent about $350/month on food.  Now I make my own food and barely ever eat out, and I only spend $125/month on better food.  I spend a month of hard labor cutting down trees and splitting them, giving me enough wood for two years, saving me about $1000/year in propane.  There are so many ways to save money, and so many things that you simply don't have to spend money on.  A budget helps, it helps you realize how much you're really spending.  I personally was very surprised years ago when I began budgeting and realized that just going to fast food once a day and buying premade food for half my meals cost me $350/month.  I had no idea - a fast food meal doesn't seem expensive, but it is.

I worked at Kroger when I was younger.  I noticed that the poorest people bought the worst "food."  prepackaged crap, sugar drinks, sugar cereal, etc.  With habits like that no wonder they're poor.  Just spend an hour a day making your own food and you'll have hundreds of dollars extra at the end of the month!

I have to say, after the fact it's been worth it so far.

It's so nice having a work vehicle that is under warranty, and I know is very unlikely to give me any issues at all getting us back and forth and towing, at least for several years.

I like owning my vehicles, but typically by then they do cost me down time in repairs.