how often do you think about your money (or lack, thereof)?
how important is it to you?
I've been all over the board on money issues.
I grew up poor. I went to college poor. I met a man who wasn't poor and spent five or so years being psuedo-wealthy. I was 22 years old and wearing $400 cashmere sweaters...to nightclubs. lame.
then I grew up, left him, and got a job of my own. I bought a new $30,000 car, was four and a half minutes away from buying a $200,000 house (8 years ago, mind you)...then quit my job and was poor, again.
I spent the next four or five years living with my mother, raising kids (mine and others) and living off of less than $10,000/ year. (during this time I was also kicked out of medical school, dropped out of grad school and managed to amass another 20 or 30k in student loans to add to my already alarming heap).
then I got married. the hub made a decent living, we seemed to always have some cash around, we bought a nice house or two...
and unknowingly racked up another 20 grand in credit card debt (suki's advice: NEVER buy a fixer upper).
now, I'm poor, again.
I don't make alot of money. I don't have any savings. I haven't worked full-time more than 8 months my entire life...
and I'm worried about money.
I always took for granted that I'd have what I need...and I do. but will I when I'm 70? by the time we dig ourselves out of debt (its bad. real bad)...we'll be in our mid 30's with no net worth.
it sucks. we should have a network of investment properties by then...a good headstart on a nest egg and a college fund or two for potential rug-rats.
instead, we'll be working two jobs each for the next three years just to pay off the past. I'm scared of this concept. don't get me wrong...I'm financially responsible. I've got amazing credit (thanks, mark.), I'm frugal beyond all comprehension, and I don't need to spend money to have fun.
however, I've also got a house that I can't afford that won't sell...half of the equity owing to the ex (assuming there IS any)...and I don't want to keep taking the little bit of money HE still has to pay the mortgage.
borrowing against the equity to pay the mortgage makes me uncomfortable.
raise your hand if you're comfortable with your financial position? plant your foot in someone's (someone who has their hand raised, preferably) ass if you're not.
tell me how you got there.
tell me what you'd do.
5 comments:
The only reason I can slowly raise my hand is because people had to die. But still, I'm frugal as f**k. Because when that nest egg is gone, it's gone. I buy really humble but frivolous gifts for us sometimes at the holidays with the interest, though, because Dad would want that.
My kid can go to college and that makes me so thankful to my father and grandfather--you have no idea. But is it enough to live on when I get old and can't work (and RA among other lovely diseases run in my family so that fear is real)? No freakin' way.
It's good you're thinking about this at 30 and not at 50. As much as it might hurt, open an IRA and contribute a little each month to it--it's something. You're young and thinking about the future now isn't imminent; it's smart. Now isn't really the time to be investing in anything anyway. Hell, if I'd have inherited the money 15 years ago, I'd own property and be investing in the market. But not now. Vegas is a better gamble and I'm not a gambler.
This is definitely pot-kettle advice, but worrying about money isn't worth it. Things work out--but the stress that money worries cause is the stress of the most unhealthy kind.
<3
I've got medical debt, college debt and a little credit card debt. And now I've got a mortgage and no savings. But I can't raise my hand. I've worked full time non stop (except for when I was on chemo) for the past, well for my entire life. It wasn't always fun, in fact it sucked big time on many occasions. But I've got stock options, health insurance, and a rocking 401K. I was able to just buy a house... and that felt pretty good. Though I must say... working 9to5 in corporate america is pretty lame. Wait, I never seem to leave at 5 either...
I guess I need to get kicked?
Maybe I feel comfortable because I know I'll never have investment properties. I'll never be rich and I'm ok with that. I'm in my mid thirties and elk is in his forties... it took a LONG time to get here in this state of "comfort". And that doesn't mean that there won't be days when cars break down that we scratch our heads and say, what the eff are we going to do? We don't have money for that!
Also, I grew up in a house that I didn't consider poor, but a few Christmases got canceled and hand me downs were the way of life. I didn't feel as though we were lacking anything though I know my parents wrung their hands with worry some years. I do worry about my parents as they don't have any money for retirement and my mom still has to work full time at age 60.
After I split with my husband the house took FOREVER to sell. My advice on that... get a new real estate agent. I wish I had done that.
And try not to worry too much about debt. You are NOT alone. In fact I'm willing to bet you are better off than most Americans. Don't make yourself sick over it.
Ways to earn a ton of money quick... grow weed and sell it or start dancing in a strip club. The later is more legal than selling drugs. I never did it because I really can't dance and I was always afraid people would throw rotten fruit at me.
On that note... the community arts school here pays nude models $25 per hour. All you have to do is stand still and not giggle. Again, the reason I never did it... I can't stand still for more than three seconds.
It isn't easy stuff... but it is all part of life. Good luck.
suki+nude=bad news for everyone involved.
they'd have to pay me 25 HUNDRED an hour just to afford the cosmetic surgery required.
selling weed, though....
sounds tempting.
Mo money, mo problems...
I'm not sure selling the chronic is gonna work here, ha. Watch Weeds- that woman has been in some weird situations and met some shady characters:P
All kidding aside, the ORA is a good idea. And not comparing yourself to anyone is a good idea- it overwhelms you. Besides, most people lie about their finances and might be worse off than they let on. Chip away at it and you have someone to do it alongside of- a support system- way better than being alone in this.
And you never worked more than 8 months full time? Wha? How is that possible??
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