Comments on: It’s the economy, stupid. http://american-family.org/2008/04/30/its-the-economy-stupid/ Thu, 18 Mar 2010 02:30:27 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Kari http://american-family.org/2008/04/30/its-the-economy-stupid/comment-page-1/#comment-81006 Kari Fri, 02 May 2008 04:14:34 +0000 http://american-family.org/2008/04/30/its-the-economy-stupid/#comment-81006 I think some people can afford those things because they had two substantial incomes before they had kids (or both are still working after kids at jobs that pay quite well). And some people bought their houses in the 90s before prices went up quite a bit. And there are definitely many people who aren't saving. I once asked my moms group how much they were saving for college and no one answered. Then one mom said that the reason no one answered was because no one was saving anything! I think some people can afford those things because they had two substantial incomes before they had kids (or both are still working after kids at jobs that pay quite well). And some people bought their houses in the 90s before prices went up quite a bit. And there are definitely many people who aren’t saving. I once asked my moms group how much they were saving for college and no one answered. Then one mom said that the reason no one answered was because no one was saving anything!

]]> By: Lawmommy http://american-family.org/2008/04/30/its-the-economy-stupid/comment-page-1/#comment-80972 Lawmommy Thu, 01 May 2008 19:28:42 +0000 http://american-family.org/2008/04/30/its-the-economy-stupid/#comment-80972 " I don’t understand how people can afford those things." They can't afford them. I've been doing a ton of bankruptcy and foreclosure work lately (not because I especially like it, but, my kids need to eat), and I can tell you, many, many, many people are living WAY beyond their means. It absolutely TERRIFIES when I see what kind of debt people have. I lose sleep at night thinking about OTHER people's debt, I have no idea how they sleep at night. Plus, with the real estate market being what it is, people who took out home equity lines of credit to buy all kinds of crap have negative equity in their houses. It's scary, very very scary. Gretchen ” I don’t understand how people can afford those things.”

They can’t afford them. I’ve been doing a ton of bankruptcy and foreclosure work lately (not because I especially like it, but, my kids need to eat), and I can tell you, many, many, many people are living WAY beyond their means. It absolutely TERRIFIES when I see what kind of debt people have. I lose sleep at night thinking about OTHER people’s debt, I have no idea how they sleep at night. Plus, with the real estate market being what it is, people who took out home equity lines of credit to buy all kinds of crap have negative equity in their houses. It’s scary, very very scary.

Gretchen

]]> By: Annie Malie http://american-family.org/2008/04/30/its-the-economy-stupid/comment-page-1/#comment-80970 Annie Malie Thu, 01 May 2008 18:34:03 +0000 http://american-family.org/2008/04/30/its-the-economy-stupid/#comment-80970 Here's the dirty little secret. Parents that have all the cool stuff, big house, clothes, cars don't have any money. They're in debt, have no savings or both. www.AnUrbanStory.com Here’s the dirty little secret. Parents that have all the cool stuff, big house, clothes, cars don’t have any money. They’re in debt, have no savings or both.

http://www.AnUrbanStory.com

]]> By: shumei http://american-family.org/2008/04/30/its-the-economy-stupid/comment-page-1/#comment-80892 shumei Thu, 01 May 2008 01:01:49 +0000 http://american-family.org/2008/04/30/its-the-economy-stupid/#comment-80892 Wait til middle school! There is such intense, incredible pressure to buy clothes from the right stores - Hollister, Abercrombie, etc. I teach 7th grade so I see it at work and at home with my 6th grader. I do understand how she feels and have bought her some clothes (from the sale table) from there. I don't know how some parents afford the amount of crap they buy their kids. Wait til middle school! There is such intense, incredible pressure to buy clothes from the right stores – Hollister, Abercrombie, etc. I teach 7th grade so I see it at work and at home with my 6th grader. I do understand how she feels and have bought her some clothes (from the sale table) from there. I don’t know how some parents afford the amount of crap they buy their kids.

]]> By: Julie http://american-family.org/2008/04/30/its-the-economy-stupid/comment-page-1/#comment-80789 Julie Wed, 30 Apr 2008 17:50:45 +0000 http://american-family.org/2008/04/30/its-the-economy-stupid/#comment-80789 Like you, DH and I are very conservative with money. He makes great money, but we carry as little debt as possible. We recently bought a new house and had to get a small mortgage and just that drives us nuts, we'll pay it off as soon as possible. We definitely have a much more luxurious lifestyle than we did 10 years ago, but we still are very much aware that it can all change overnight and that it's always important to live well within one's means, to have college funds for the kids, retirement funds for us and just a good healthy savings account (all this of course is assuming you have an income that allows it - it took us many years to reach that point). Even with all that, the economy makes me nervous. And I can tell you that while our next car will be new, it will most likely be a small hybrid car...but I'm not giving up my heated bathroom floors and steam shower!lol I think everyone needs to live responsibly within their means, but it's hard to do when all day long you're being bombarded with "you can have it all and have it now" ads... Like you, DH and I are very conservative with money. He makes great money, but we carry as little debt as possible. We recently bought a new house and had to get a small mortgage and just that drives us nuts, we’ll pay it off as soon as possible. We definitely have a much more luxurious lifestyle than we did 10 years ago, but we still are very much aware that it can all change overnight and that it’s always important to live well within one’s means, to have college funds for the kids, retirement funds for us and just a good healthy savings account (all this of course is assuming you have an income that allows it – it took us many years to reach that point). Even with all that, the economy makes me nervous. And I can tell you that while our next car will be new, it will most likely be a small hybrid car…but I’m not giving up my heated bathroom floors and steam shower!lol I think everyone needs to live responsibly within their means, but it’s hard to do when all day long you’re being bombarded with “you can have it all and have it now” ads…

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