How many of you lived below your means?

July 23rd, 2009 | by admin |

With all of this news of foreclosures, major debt, and tumbling retail, are you a victim or did you actually live within your means? I know not all people deserved it and had their reasons, but the majority of Americans bought cars and homes they couldn’t afford, and were materialistic which screwed them over.

Do you feel sorry for them? And did you do the same, or sacrifice some things?

Love your question. I always live below my means. I’m actually ahead a few mortgage payments in preparation for an emergency. I can shop at high end retail stores but I love and prefer yard sales and thrift stores.
My family eats good because I shop for quality food and know how to cook real healthy home cooked meals. TV Dinners are banned from my home. I grow my vegetables in summer and can them for winter. My cars are 12 years old, paid for, and kept up in maintenance.

That’s how we live. It’s actually fun, even though the people in 09 Jeeps snear at my 92 Cherokee Laredo. It’s blue and beautiful to me. I don’t feel sorry for people who can’t manage money.

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  1. 24 Responses to “How many of you lived below your means?”

  2. By Maurice D on Jul 23, 2009 | Reply

    I know I don’t. I always make sure I am wearing the newest fashions. And keeping up with the latest technology.
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  3. By Shovel Ready on Jul 23, 2009 | Reply

    I have always lived below my means and saved money, even when I was in college and graduate school. It payed off.
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  4. By Elle on Jul 23, 2009 | Reply

    No, I don’t.
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  5. By ' 87 on Jul 23, 2009 | Reply

    I feel really sorry for them. I havnt done the same thing. And yes i had to sacrifce some things =\. I am not a victim…..yet though.
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  6. By PJ on Jul 23, 2009 | Reply

    I do, and have for years. I have a home – same one for 20 years. I have 2 cars – one (a 68 camaro) paid off years ago, and a daily driver also paid off years ago. I don’t go on fancy trips. I don’t have a big screen TV. But I also won’t go under if I lose my job. I say – too bad for those irresponsible, greedy people. They had their fun – now they have to suffer.
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  7. By Will S on Jul 23, 2009 | Reply

    I did everything right, paid for my own education, a good job, a house, paid my mortage and bills.. and now that SOB Obama is going to lower the value of my savings, raise my taxes and destroy my future retirement plans.. I HATE THE FOOL!

    I hope Obama fails miserably in his socilist Big Brother plans…

    NOBAMA!
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  8. By Track P on Jul 23, 2009 | Reply

    **** The majority of Americans bought cars
    **** and homes they couldn’t afford.

    I agree with this assessment. It was indeed the majority, namely 53% or 68,000,000.
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  9. By Winter on Jul 24, 2009 | Reply

    I am far more conservative on spending now a days.
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  10. By GreasyTony on Jul 24, 2009 | Reply

    NO! I don’t feel for them. Too many people try to "keep up with the Jone’s" and the easy lending terms just made it irrestitable.

    Illegal immigrants are seen as a good mortgage risk because they buy houses they can afford and house to raise thier families in, not houses to turn around and make a quick buck, or just to have the biggest house on the block.

    Maybe banks should have lent more loans to illegals instead of greedy American show-offs!

    http://www.oliverwillis.com/2007/10/11/illegal-immigrants-turn-out-to-be-good-mortgage-risks/
    Illegal Immigrants Turn Out To Be Good Mortgage Risks

    Amid the housing loan debacle, one segment of the mortgage market is solid: illegal immigrants.

    As it turns out, home loans that don’t require legal status are among the safest risks that banks can take. According to The Wall Street Journal, ITIN mortgages – which immigrants can get with only a taxpayer ID number – have a delinquency rate of about 0.5 percent, roughly half that of prime mortgages and far below the 9.3 percent rate of subprime loans.
    (You did post this in the immigration section)
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  11. By melissa_annemarie on Jul 24, 2009 | Reply

    I live way below,look at our economy right now,how can anyone afford to just purchase a new home or car while the rest of us are struggling to pay for food and electricity.live on a budget and spend wisely,
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  12. By Goofoo on Jul 24, 2009 | Reply

    I live like a poor man, even though I make decent money. I rarely use credit cards or incur any debt. The reason I live this way is because I grew up in poverty, so I was never accustomed to the life of luxury or excess spending.

    I don’t feel sorry for the majority of people who went credit crazy and loaded themselves up on debt and obligations for which they could barely or couldn’t afford.

    I do feel sorry for the responsible victims who will also have to suffer the pain of this economic contraction.
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  13. By Robin on Jul 24, 2009 | Reply

    dems have said for years that everybody is entitled to the homes that we see on TV, and similar lifestyles

    so the people who believed it are screwed

    but the people who kept control of their "wants" are equally screwed because now we get to pay for those who could not

    pay cash or do without
    pay off bills early
    poverty is not as big a problem as debt
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  14. By black leopard on Jul 24, 2009 | Reply

    i do. i don’t buy flashy brand name clothes. i don’t use designer bags. i saved money this past few years. i don’t even have a credit card, i’m glad i don’t have one, it clipped my spending.
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  15. By RLP on Jul 24, 2009 | Reply

    We paid off our home in 5 years (it’s a nice 4500 sq. foot home).
    We didn’t buy furniture for the front rooms until we paid off the house.
    We don’t buy things on credit. We save for a car and then buy it.
    We were able to buy a lake home after saving for one.
    We did not buy expensive cars or things on credit that we could not afford. We did without things in our 20′s and early 30′s so we could have the comfortable life we have today.
    We put 3 kids thru college with one to go. WE DID IT and did not expect anyone else to help us.

    I’m mad as hell at Obama. He is punishing my family for doing the right thing.
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  16. By JimSock on Jul 24, 2009 | Reply

    The majority of Americans DID NOT buy homes they couldn’t afford.

    Over 95% of all mortgages in the US are being paid on time.

    Don’t let all this gloom ‘n doom, sky-is-falling nonsense from the Democratic party get to you.

    They are saying that they will force the banks into reorganizing loans for people who are struggling….why?
    The banks were ALWAYS willing to reorganize loans for people who got into trouble for one reason or another.
    What’s new here?
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  17. By katrinagibson13 on Jul 24, 2009 | Reply

    We did. We bought a house we could afford and our cars are paid for. But if my husband loses his job, we’re toast. There is no way we could make our house payment without his income. I think that’s what the majority are going through right now. It’s not just people in McMansions that are hurting right now. And I do feel sorry for those hardworking people who got laid off and had their homes go into foreclosure. It’s just horrible.
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  18. By George S on Jul 24, 2009 | Reply

    I don’t, but I don’t live above it either. I watch my debt load, don’t assume my income will remain where it is or improve, and I think whether or not I really need that next purchase. It’s rare I look at something I bought and think: "why did I buy this," or " I can’t really afford this."
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  19. By joe d on Jul 24, 2009 | Reply

    My mortgage is about 20% of my monthly income and I have absolutely no other debt. No monthly credit card balances and two cars paid for.

    Different people are in dire straits for different reasons. Some I dont feel sorry for and others I can sympathize with.
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  20. By Rachel F on Jul 24, 2009 | Reply

    Well, as a student I am swimming in debt due to student loans etc. Also, not very responsible with said loans, as I’ve used them for other purposes besides school. Oops! Just bought a plane ticket that I couldn’t afford, but I wanted to surprise my family (see my open question).

    When I was living in an apartment, however, I lived within my means. I was trying to be the "responsible adult" haha. I hardly even turned the heat on in the place and just wore sweaters so that my electric bill was always around $10. I didn’t eat very well either… but I wasn’t earning enough. Really, I shouldn’t have been renting the apartment… but it was within my means. Just barely.

    This is a Canadian’s perspective.
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  21. By madart on Jul 24, 2009 | Reply

    I used to but now my husband has been laid off. We dip into savings every month.
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  22. By Arwen on Jul 24, 2009 | Reply

    Love your question. I always live below my means. I’m actually ahead a few mortgage payments in preparation for an emergency. I can shop at high end retail stores but I love and prefer yard sales and thrift stores.
    My family eats good because I shop for quality food and know how to cook real healthy home cooked meals. TV Dinners are banned from my home. I grow my vegetables in summer and can them for winter. My cars are 12 years old, paid for, and kept up in maintenance.

    That’s how we live. It’s actually fun, even though the people in 09 Jeeps snear at my 92 Cherokee Laredo. It’s blue and beautiful to me. I don’t feel sorry for people who can’t manage money.
    References :

  23. By DD on Jul 24, 2009 | Reply

    Me.
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  24. By enter name here on Jul 24, 2009 | Reply

    Below, no not really… but within yes… It’s stupid not to… I think everyone gets in trouble now and then… it’s natural, especially when we have a rampant "keeping up with the Jones’" mentality that we have in today’s society… I don’t really feel sorry for them… I don’t feel sorry for the bankers, mortgage lenders or the people that are in this mess… They are all greedy and none are exempt… I personally feel like everyone from the homeowners all they way up to Bank CEO’s and our Federal Government need to all take responsibilty for what part they had in this debacle… pick THEMSELVES up off the ground and learn from this for what NOT to do in the future…
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  25. By wildfiremmm on Jul 24, 2009 | Reply

    Good question! As a family of 4 that lives within or even below our means. (no mortgage or credit cards or unnecessary debt) . I am a little bitter when I hear that people are "rewarded" or receive help to live well beyond their means (those with maxed credit cards or a home or car they can’t really afford). I work hard for my money, and I only spend it on what we need, and I budget it very carefully. It frustrates me to see these people digging their own hole of debt and then expect a handout or assistance to get them out of it. Well I say they should have never been allowed to get that far in debt, and they should find their own way out.(not bankruptcy either, who do you think pays for that in the end!) The funny thing is that those of us who live below our means are gennerally prepared to deal with a poor economy, because we know how to budget and make do with out certain things.Those that live beyond their means will get a taste of what it is like to live on a budget and without materialistic things. The question is will they learn from their mistakes or will they become more greedy for the things they don’t really need!

    It also drive me nuts that some folks only have medical debt (which is not intentional inccured!) that have low credit scores because of it. I really don’t think medical debt should effect your credit score or ability to buy a home.

    This county as a whole has a major problem that led to where we are now,GREED!(and credit card companies fueled the fire!) There are of course a few exceptions to the rule.Unfourtunatly we will all have to pay the consiquences!
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