If everyone lived within their means and saved money...

[ripskater]

I get the feeling you'll be doing the same, same family first attitude.

I'm struggling to save long term right now. With 3 kids it's tough. But we do save and pay cash for everything.

 

[ralphc1]

What would happen to the US economy?

If people ONLY purchased stuff that they could afford, saved a little at the end of each month, and paid their credit card bills the day it is due, what would happen to the US economy?

Would it boost or hurt the economy if we lived within our means?

If it would have always been that way the economy would have grown slowly to accommodate that mindset. If we suddenly changed that now, the economy would collapse.

 

[OverCoronavirus Pressure]

I'm struggling to save long term right now. With 3 kids it's tough. But we do save and pay cash for everything.

Oh, hell, three is very different. I had it easy. Angel of a kid, no trouble to raise, good grades. She's gonna be a cop or a judge I think... She's really into rules and the order of law. I have to remind her not to correct adults pretty often.

 

[Max Power]

It's what I do. I have plenty of money but I still try to be cheap.
I recently worked out with my financial manager that I can leave my kid something North of a mil even if I have an expensive old age.
Makes me feel good.

Sure you wanna do that?

 

[OverCoronavirus Pressure]

Sure you wanna do that?

All I've gotta do is *not* what he did with his. Four times.

But maybe I'd feel good about myself if I suckered some investors who got pennies for their dollars, that'd be Presidential of me

 

[ralphc1]

It's what I do. I have plenty of money but I still try to be cheap.
I recently worked out with my financial manager that I can leave my kid something North of a mil even if I have an expensive old age.
Makes me feel good.

I do the same thing. I retired late to have as much money as possible. After I retired I found out that I don't spend as much as I collect from Social Security let alone other retirement and savings. I get things in the mail almost daily from people who want to help me manage my money.

I'm not worried about leaving anything because I don't have anyone to leave it to. There are some things that I think might enjoy but can't justify buying them.

I worked with a guy whose wife inherited almost $200,000. I told him to pay off his property or at least 1/2 of it and put the rest in a bank. They decided to buy a motor home, a boat and 2 new vehicles. He got fired for violating the safety rules and 2 years later, the bank foreclosed on his property.

 

[Cid]

I do the same thing. I retired late to have as much money as possible. After I retired I found out that I don't spend as much as I collect from Social Security let alone other retirement and savings. I get things in the mail almost daily from people who want to help me manage my money.

I'm not worried about leaving anything because I don't have anyone to leave it to. There are some things that I think might enjoy but can't justify buying them.

I worked with a guy whose wife inherited almost $200,000. I told him to pay off his property or at least 1/2 of it and put the rest in a bank. They decided to buy a motor home, a boat and 2 new vehicles. He got fired for violating the safety rules and 2 years later, the bank foreclosed on his property.

I know it's bad to revel in others misery but if you're that fucking stupid...

 

[Turtlejuice]

I do the same thing. I retired late to have as much money as possible. After I retired I found out that I don't spend as much as I collect from Social Security let alone other retirement and savings. I get things in the mail almost daily from people who want to help me manage my money.

I'm not worried about leaving anything because I don't have anyone to leave it to. There are some things that I think might enjoy but can't justify buying them.

I worked with a guy whose wife inherited almost $200,000. I told him to pay off his property or at least 1/2 of it and put the rest in a bank. They decided to buy a motor home, a boat and 2 new vehicles. He got fired for violating the safety rules and 2 years later, the bank foreclosed on his property.

Some people just don't get money. I know a guy and his wife who took out finance for something. They then realised they were getting screwed on interest rates so got a loan on a lower rate costing them about £3k less over the term. She then went and bought something expensive with the £3k they'd "saved". You're paying back £3k less than you would have, you haven't saved anything.

 

[Pied Piper]

Cuck^

gotten to^

 

[Michaelangelo]

Stock market would crash

 

[iWinYouLose]

gotten to^

You are audibly broke

 

[Jack Reacheround]

What school do you currently attend or graduated from?

Why do you want to know?

 

[Unknown Pleasures]

Would cause quite a bit of misery.

Reality is some people's means are too shitty. Have a mediocre job, wait until you're 50 to buy your home??? Can't afford tuition, then don't go to school until you've collected enough minimum wage shit savings while living with your parents or countless other people to start college when you're 30????

Obviously this isn't healthy for society and the extension of credit is good for people that want to use that to invest in themselves and create value for society.

Unfortunately, the bi-product of living in an imperfect world with respect to this credit raises prices, and the more qualified workers you get out there, that produces downward pressure on wages, so price of houses go up as people are willing to give up more future wages to benefit from a home now, and wages do not keep up with cost of living. Banksters and the elite of society i.e. the .1 of the top 1% benefit 100 fold, and the sheep are staunchly against mild (emphasis on mild) tax increases on the ultra rich because that's "redistribution" whereas the entire system is geared to "redistributing" wealth upwards and they are fine with that.

 

[Pied Piper]

You are audibly broke

So which is it. Do you hate poor people or rich people

 

[Misfit23]

Suicide would increase due to extreme boredom. Most fun costs money.

 

[jefferz]

RIP repo men.

 

[AznTrojan]

vegas woudn't be nearly as fun

 

[bufetadanacara]

What would happen to the US economy?

If people ONLY purchased stuff that they could afford, saved a little at the end of each month, and paid their credit card bills the day it is due, what would happen to the US economy?

Would it boost or hurt the economy if we lived within our means?

Get them to grow their own food and make their own repairs and you'd have something ideal.