Why do people insist on living above their means?

Don't get me wrong here, I fully agree with everyone that the biggest problem with the economy is due to irresponsible banking practices.

HOWEVER...

I also feel that people behave irresponsibly in terms of spending and living above their means. There is NO reason for anyone to have over $10,000 of credit card debt. No reason at all. Don't you dare complain that interest rates are too high and banks are greedy when you took the personal choice to charge over $10,000 to a credit card when nobody forced you to do so.

It boggles my mind how people have these massive debts that are completely avoidable. I'm not talking about car loans or student loans or mortgages...I'm talking about people who run up huge debts on lines of credit and credit cards for no real reason.

You didn't NEED to buy that TV or that couch. You took the decision to buy something you can't afford. Nobody forced you to do that.

As I said, I agree banks must share part of the blame. They really should limit the amount of credit people with debts are allowed to have. I just don't think some people are responsible enough to handle a credit card with over $10,000 limit. But really, nobody's holding a gun to your head either.

reply to post by DazedDave

I'm talking about people who run up huge debts on lines of credit and credit cards for no real reason.

And how is it that you know the reasons of every individual debt??

I assume you are assuming here and you know what they say about assumption being the mother of something......

Peace

Because if I made spent 10k on "business related expenditures" I can deduct the taxes so the money's going to Best Buy instead of the Government.

No but really, I agree. People are stupid.

Or maybe they take the same idea I do:

Everything's gone to hell, %^$& everyone else, I'm going to rack up my credit cards, have lots of fun, and go down burning.

We all end up dead in the end.

Click here for more information.

reply to post by Aberinkula

Everything's gone to hell, %^$& everyone else, I'm going to rack up my credit cards, have lots of fun, and go down burning.

We all end up dead in the end.

To be honest, I can not argue with this idea. It seems pretty solid...

Peace

Originally posted by operation mindcrime
reply to post by Aberinkula

 

Everything's gone to hell, %^$& everyone else, I'm going to rack up my credit cards, have lots of fun, and go down burning.

We all end up dead in the end.

To be honest, I can not argue with this idea. It seems pretty solid...

Peace

Thanks, that helps me feel more like a human and less like I've lost my marbles and gone bonkers. I just really don't care about debts. I don't plan on having kids or getting married (plan is the keyword there), so my family shouldn't have to pay off my debts since I also don't plan on dying until after my parents are gone. They can cremate me with my credit card bills. Polishing the brass on the Titanic, it's all going down. I'll live my life and enjoy it.

Many people want the life they see on MTV cribs or similar programs.
If you know someone who has a copy of the game GTA IV go watch TV in the game!
You have to see the show "I'm Rich" it is a parody on shows like that.
It's copyright protected so it isn't available at youtube.
But you'll see what I mean.
It's all egocentric prestige, even if they pretend to be rich for the outside.
People have forgotten what true joy of life is.


Signed, a self made man.

The perception is that this is the land of opportunity and everyone has a fair shake at winning the pot to live out their lives like royalty. Belief can only control reality to a limited degree.

Credit has been overused, this is true, but the reasons it is overused trace back to the reality of the situation. People who work hard doing manual labor are considered inferior to those born of royalty. In the US, royalty is the equivelent of having lots of money. Then throw in laws protecting people who have money, such as patents and trademarks, corporate protection and the stock market and you set up a no way up scenario. To compensate and appease a people willing to start a revolution, you give them credit and allow them to borrow more than they make in a life time to just shut them up and keep them peaceful with guilt that they cannot pay their bills.

As more ideas begin to profit and more people get rich, the cost of living rises with the newcomers to royalty. Meanwhile, manual labor is still at the bottom and it is still the backbone of almost every rich person in the US. Robber barons learned their lesson. The business heads profit off the backs of their workforce but to appease them they are given incentives, such as credit for homes and luxuries. It is all about being a dollar slave but not believing they are. Credit solves the problem but it also creates one [or more].

With my family, we have no debt whatsoever! We decided a few years ago to live strictly with the capacity we had to pay, period. Everybody around us seemed to believe we were poor. Particularly because for 6-7 years, we didn't have a car because we didn't need one! We were 15 minutes away from everything by walking...

So we were given antiquities... Real nice ones at that! And when we said we were not poor, it fell on deaf ears... so...

In fact, we have so much stuff that we give to the poor twice a year!

No debt! Ha!Ha!Ha! It's SO nice! You should give it a try.

MC tried everything to stop me when I cut my card 12 years ago! They were pathetic!

Originally posted by Johnze

You didn't NEED to buy that TV or that couch

Actualy i do so go # yourself. Stop preaching and telling people what they may or may not need out of life.

[edit on 1-6-2010 by Johnze]

No need to be that rude Johnze . We have a decent forum for discussion here on ATS ........ you would do well to acquaint yourself with the T & C relating to membership of this site .

the mtv generation, less money, more problems. more money, more problems...keeping up with the joneses has turned into keeping up with the kardashians. this old house has turned into cribs. its all about the status and prestige, my generation as much as they wont admit it, will not live within their means for the life of them, myself included. although i do not spend like crazy and rack up a ton of debt, i do spend my money on take-out, delivery, groceries, clothes, gas, bills, drinks etc etc if i just stayed home more, cooked more home cooked meals, and bought the rest of my clothes from wal-mart i'd be rich lol!! even though my thoughts on money management are conservative, i definitley do not live my life as so. funny thing is i have friends who consider themselves conservative and thrifty who spend way more on things and are in complete denial, atleast i admit to my evil ways lol!!!

reply to post by UmbraSumus


Actualy i do need to be that rude. I find ignorance to be highly offensive, and as it stands, what was this sites motto again?, im sure it was DENY IGNORANCE, could have changed though right enough, maybe it is now Placate And Understand Ignorance?!?!. Personaly i like to be fairly militant in denying the ignorance i see, so again yeah i did have to be that rude.

[edit on 1-6-2010 by Johnze]

reply to post by Johnze


You can surely deny ignorance without telling someone " go # yourself " , it lowers the tone of the place , its also against the terms and conditions which you signed up to when you joined ATS.

As a member with barely a months time on the site - you would do well to heed my advice .

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Add link :
Profanity and Censor Circumvention on the Rise

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I`m done talking to you Johnze:
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[edit on 1-6-2010 by UmbraSumus]

well if you have unlimited credit - i guess your only limitation is to what they are willing to let you have - so how is that above anyone means.
just because you play the game a different way than say the elite do - who's doing it right - above ones means which means you have to produce more of something to sustain that level. if you do not have that growth incentative and no debtors prision... who's playing the game right - we already know it's a rigged game so why are you playing on the level when you know it aint..?>

It's some crazy percentage of people like 80% that file for bankruptcy is because of medical bills and like 2 out of 3 medical bills contains errors in it.

People live beyond their means because they are trained to from a child on. Every commercial you see, every show you watch and even the books you read will talk about the need for stuff. You are trained that to be successful is to buy a house and nice cars and have toys like boats and go on trips. If you aren't doing those things then you are a bum.

Originally posted by operation mindcrime
And how is it that you know the reasons of every individual debt??

I assume you are assuming here and you know what they say about assumption being the mother of something......

Peace

I work in a bank and I see this every day. Thousands of dollars of debts, spent on fancy dinners, big TVs, take out every day, and other things that nobody NEEDS.

Sure, it might be nice to have, but if you can't afford it, you shouldn't be living that way. And no, putting it on credit is NOT "affording it"

Ive always been thrifty and lived within my means. Often below my means so I can save for things like a car with cash or a solid 20% down payment on a house.

Lately though Ive been considering throwing that behavior out and going nuts with the junk loan-shark credit so many seem to be enjoying.

I save pennies and have an immaculate credit rating and just when it seems like I have what I need or more than I need to do something like buy a house the bank wont give me a mortgage because they wont make any money off of me compared to the folks with lousy credit who will take high interest loans and likely not keep the house so the bak will get the house.

All around me loose credit is jacking up prices and killing my dollar. And the gov uses my money to bailout these losers.

Why should I continue to be responsible when all it's getting me is stuck with everyone else's bills?

Originally posted by Johnze
What?, how old are you?, that amount of money is NOTHING to the debts you incur as you get older, hmmm lets see im in the UK i buy a house, average house price is basicaly 200,000 dollars there abouts. THATS ABOUT ONE HUNDRED THOUSAND POUNDS WORTH OF DEBT, ten thousand dollars?, lol.

I said credit card debt. Not a mortgage. Unless you put your house on a credit card, in which case I feel sorry for you.

Actualy i do so go # yourself. Stop preaching and telling people what they may or may not need out of life.

If you need it so bad, save up and buy it. If you can't, it's because you can't afford it. Maybe get a better job.

Originally posted by Johnze
Actualy i do need to be that rude. I find ignorance to be highly offensive, and as it stands, what was this sites motto again?, im sure it was DENY IGNORANCE, could have changed though right enough, maybe it is now Placate And Understand Ignorance?!?!. Personaly i like to be fairly militant in denying the ignorance i see, so again yeah i did have to be that rude.

I say what's truly ignorant is buying something when you know you can't afford it.