broke people afford everything

[couchrobt]

I still do not get it how some can do that. How can even some of my coworkers afford to go out partying and everyday starbucks while we all have same paychecks. Anyhow, its up to them.

[disneysteve]

How can even some of my coworkers afford to go out partying and everyday starbucks while we all have same paychecks. Anyhow, its up to them.

Some have partners who work.
Some still live home with their parents or have parents who give them money.
Some live in hellholes of apartments or share housing with other people.
Some (if not most) carry significant amounts of debt to support their lifestyle.
Some (if not most) have little if any savings.

[Cassius King]

I've heard these comments before and am starting to hear them more often.

I remember a very good discussion on the Brk Shareholders board a few years back debating savings or spending.
One gentleman argued why be thrifty, deny yourself luxuries and build a nest egg when you're going to have to spend your nest egg on healthcare. You could spend most of what you have, then let the gov't pay your healthcare in retirement. The system is seriously flawed against savers/thrifty folks. How pissed would you be to live below your means, save furiously then have to waste that on paying your own healthcare while your neighbor gets their's for cheap?

It almost seems like the best way is counter intuitive to what we think.

[disneysteve]

How pissed would you be to live below your means, save furiously then have to waste that on paying your own healthcare while your neighbor gets their's for cheap?

Do you really think that people getting government healthcare are getting the same level and quality of care as those with good private insurance? Trust me. They're not. I'll keep putting money away and be able to afford better care if and when I need it.

[Hector]

I've heard these comments before and am starting to hear them more often.

I remember a very good discussion on the Brk Shareholders board a few years back debating savings or spending.
One gentleman argued why be thrifty, deny yourself luxuries and build a nest egg when you're going to have to spend your nest egg on healthcare. You could spend most of what you have, then let the gov't pay your healthcare in retirement. The system is seriously flawed against savers/thrifty folks. How pissed would you be to live below your means, save furiously then have to waste that on paying your own healthcare while your neighbor gets their's for cheap?

It almost seems like the best way is counter intuitive to what we think.

I am not sure how does health care works in retirement? Dont all of us get government assisted health care in our retirement? How does medicare work? Govt deduct 2% from our paycheck for this, I was thinking that we get free govt health care in our retirement!?

[Frugal]

I don't know either how some people afford I-Phones. Don't want to really get into this topic here, but I will briefly say I think the bankruptcy laws are generally too lenient. I have student loans, but I will repay them. I don't think it is fair people can get in over their heads, and then never have to repay the debt, if it is discharged in bankruptcy. Like someone else said, it is a disincentive to pay your bills and do the RIGHT things, if you always have that last-resort option.

[couchrobt]

After all things said over and over in this thread, it is likely to go like live a life that you wanted to have. Live a life that you can afford, and a lifestyle that would likely not make you sick. Makes sense.

[Hector]

I don't know either how some people afford I-Phones. Don't want to really get into this topic here, but I will briefly say I think the bankruptcy laws are generally too lenient. I have student loans, but I will repay them. I don't think it is fair people can get in over their heads, and then never have to repay the debt, if it is discharged in bankruptcy. Like someone else said, it is a disincentive to pay your bills and do the RIGHT things, if you always have that last-resort option.

FYI: Person can not get rid of student loans even he/she files bankruptcy.

[Frugal]

Maybe they can't afford it, they just use more credit and give the illusion of being able to afford expensive things.

[Frugal]

To Hector: I know. Student loans (at least ones from the gov't) never discharge in bankruptcy. Meaning, they never go away. Ever. I don't think they even go away if someone dies. Pretty tight restrictions on them.

[Pansori]

To Hector: I know. Student loans (at least ones from the gov't) never discharge in bankruptcy. Meaning, they never go away. Ever. I don't think they even go away if someone dies. Pretty tight restrictions on them.

Student loans, private student loans, alimony, child support, all things you can't discharge in BK.

[jerrycates]

Maybe these people have a spending strategy that makes them.. or ables them to get things they want and still save?

[tripods68]

strategically defaulting maybe???? uhmm..

[steveaz67]

It is amazing the offers for credit you get once you declare bankruptcy.

[dagaul101]

Well considering the Iphone maybe in the region of hundreds of Dollars and may have been bought before the foreclosure began, it is entirely possible