My Brother said, do you.....

[JoeM 7,605]

remember when we were kids and had to go to the junk yard and get used tires so the car would pass inspection? I said yes, Dad had some tire irons and board as a bead breaker. Well this led into a discussion of how the virus is affecting peoples jobs, income and what not. One thing that was brought up was the fact that 53% of Americans spend every penny they make in a paycheck. I said, I am having a hard time with folks in food lines and most haven't been off more than a couple weeks. 

Growing up we didn't have much, we weren't dirt floor poor, (we did have linoleum), but we always had some kind of emergency fund. A few months of cash just in case. The coal business was littered with problems, strikes, river issues, derailments, accidents, etc.Hardly ever seen a full paycheck. Never relied on anyone but yourself. 

My wife tells me times have changed...... I guess so

[formariz 11,849]

Today a majority of the population is addicted to all the modern conveniences which come at a heavy price. Always having to get the latest phone, car, computer, TV and on and on. Fortunes spent on vacations. Holidays lost their real meaning such as Christmas and Easter. It is all about getting people to spend money hence the reason why everyone is in trouble. Meanwhile they also lost the ability to be self sufficient and creative because of the reliance on just buying stuff. People throw away stuff most could make a life with. Your wife is correct. Times have changed but unfortunately perhaps not for the better. People should take what is going on now as a lesson and awakening  so they re think their lives and the way they live it. This can get a lot worse,now or another time in the future. Learn from it while it is still time.

[stevasaurus 22,229]

Everything costs more, and pay raises have been non-existent for 40 years.  I remember when we would get a pay raise in the 1970's...it was 3/4%  of the cost of living raise.  That means you lost 25% of your buying power.  Back in those days you guys above are talking about...your Mom may have had a job...but she didn't really need to.  We all know what needs to happen.  

[Ed Kennell 35,583]

IMO, this little plastic card that became popular in the '60s was the trigger that launched many into the irresponsible  philosophy  that we can have it all and  we want it now.

[Cvans 1,009]

1 hour ago, TractorJunkie said:

My wife tells me times have changed...... I guess so

That's true but people and their priorities have changed also and not for the better. Our plant closed in 2008 with 300 people losing their jobs. Of those 300 only 3 of us did not have to find another job. Some employees had been there for over 35 years and still needed to go back to work. 

That is really sad. 

[formariz 11,849]

2 hours ago, Ed Kennell said:

IMO, this little plastic card that became popular in the '60s was the trigger that launched many into the irresponsible  philosophy  that we can have it all and  we want it now.

Indeed. It always amazes me how naive or even ignorant a lot of people are about credit cards and what happens when you use them and do not pay their balances in full when due.They actually think that it OK  just to pay the minimum. They don't realize that with most cards if you do that they charge you interest on every purchase from the time you use it. That combined with high interest rates and the fact that one keeps using it creates debt for essentially the rest of your life. It is simple arithmetic. That is exactly what they want you to do. Personally I use one credit card and use it all the time for everything. However at the end of the day when home I electronically pay what I used it for that day. Quite often they get my payment before they really get the charge from vendor. The way that I do it, I use their money for convenience, reap the rewards points and never have a balance. I also think of it as cash and don't spend it if I don't have it. There are many ways to do it smartly but unfortunately credit card use has become just as bad as drug addiction in this country.

[Cvans 1,009]

3 hours ago, formariz said:

and never have a balance.

That's the key to using it. When things were tighter we recorded our CC charges in our check book just like checks. Then paid it in full at the end of the month. No interest charges and no overdrafts. Auto payment is another option. 

[953 nut 51,485]

It always amazed me watching my younger co-workers BUY BUY BUY on time payments. Many of them were making $ 100K or more and were one paycheck away from the poor house. The were so busy working over-time to pay for the stuff that they couldn't go camping in that new motor-home or play on the water with that new boat they were underwater on. (pun intended)

I was the Scrooge of the bunch, and when I retired early with no debt and a financially secure future I just smiled at the rest of the crew as I walked out the door.

[SylvanLakeWH 24,080]

Put everything needed on the credit card, pay it in full each month with automatic withdrawal, and get a nice cash back bonus each year on stuff you need and buy anyways... Making money by using the credit card company’s own system against them... 

 

Kind of poetic in a way...