Are you better off than 4 years ago?

[Little House]

In terms of being more financially savvy, yes I'm better off. However, I've seen my total income decrease over the past two years. So, in that case no. Yet, I'm still able to pay all of my bills and save a little money which I probably wouldn't have been able to do 4 years ago on a decreased income. So maybe it's a wash.

[rob62521]

Just a summary, it would appear that so far, most folks feel they are better off...I wonder if this would be a true indication of how the country is doing. Most folks who are SA fans are pretty careful with their money so I think it makes sense that many are better off. Very interesting!

[disneysteve]

Just a summary, it would appear that so far, most folks feel they are better off...I wonder if this would be a true indication of how the country is doing. Most folks who are SA fans are pretty careful with their money so I think it makes sense that many are better off. Very interesting!

If you listen to Dave Ramsey's show, one thing he loves focusing on is when callers who phone him to announce they are debt-free tell him that their income has gone up significantly over the past few years. Dave loves to say, "So you got a raise during a recession" or "You chose not to participate in the recession" or something along those lines.

I think you are hitting the same point. Folks who are careful with their money, live below their means and prepare for emergencies and for the future aren't as affected by bad times because they are ready for them.

[maat55]

If you listen to Dave Ramsey's show, one thing he loves focusing on is when callers who phone him to announce they are debt-free tell him that their income has gone up significantly over the past few years. Dave loves to say, "So you got a raise during a recession" or "You chose not to participate in the recession" or something along those lines.

I think you are hitting the same point. Folks who are careful with their money, live below their means and prepare for emergencies and for the future aren't as affected by bad times because they are ready for them.

This is true, back in the recession of 2000 I was hit pretty hard. I did not have emergency funds and had several payments.


This go around, which has been worse, I have barely noticed. Even with my reduced earnings I am saving more than ever. This is why I do not credit any administration with prosperity, it is mostly in control of the individual.

[dawnwes]

YES!~

Well, sort of. We make less money per month (I am no longer working), but we are much smarter about how we spend it and have more saved.

We used to make more money when I worked too, but our outflow was more because we just spent what we made. We never had credit card debt (and we rationallized that since we didn't have cc debt we were ok) but we had student loans, a car loan, and didn't have a good emergency fund set up.

We now make less, but we have paid off all loans other than the house (and we switched from a 30 year to a 15), we have 6 months of emergency fund set up, have college accounts for the kids set up, replacement car fund set up, live far more frugally, etc....

We have always had retirement funds going, so I don't include those in any changes we have made.

Dawn

[crazyskunk82]

We're better off now than 4 years ago. Like others have said, it's not due to any government initiative or help from other people. We decided to start budgeting and paying off debt. 10,000 gone in less than a year, 25,000 to go!

We both also received raises at work in the past year!

Rise The Wiser - A blog about breaking free of debt and learning financial wisdom

[LivingAlmostLarge]

Absolutely without a doubt. My DH increased his salary nearly double, our retirement went from $2k to $250k (yep that's right), our home has gotten paid down another $60k, and we've had a baby. Our life has prospered in many ways and it's still getting better. Home values in our ares has gotten better to boot. Our neighbors sold for more than expected.