F.... Keeping up with the Jones's

mheisig · 12-12-2007, 11:16 AM

It's no real surprise that 1 in 20 people carry $2,000+ in credit card debt and the average savings rate is somewhere below zero. Way too many people living well beyond their means.

I started making pretty good money recently (after I quit the police department) and I'd love to get myself a nice big plasma screen, but I just can't afford it. Rather than racking up $2500 in credit card debt and hoping I can pay it off, I'll just wait. I guess I don't see why that's so hard for some people to understand.

I worked with a guy about five years ago who had $21,000 in credit card debt and he was only 20 years old. His monthly minimum payment was something like $1,200. And he'd still go out and buy video games and computer hardware - just blew me away.

MTK · 12-12-2007, 12:08 PM

When I was in my early to mid twenties I'll admit I racked up some credit card debt. I think everyone goes through that to some degree. But once I finally wised up I put my cards away and paid as much as I possibly could every month until they were all zeroed out.

It took me about 2 years to pay everything off but man I was damn proud of myself when I made that final payment. Now I only charge what I can pay off right away. I think it just takes a certain maturity level and a basic understanding AND acceptance that you can't have everything you want, when you want it.

Now I find that paying for something that I saved up for with cash is far more satisfying.

SmootSmack · 12-12-2007, 01:34 PM

Gift giving isn't a huge deal in my family. Not to be too sappy, but really it's about spending time together and creating new memories. My mom has been instrumental in driving home that point.

Don't get me wrong, we all exchange gifts. But they're simple gifts. Especially for the adults. My 1-year old niece will get showered with gifts of course.

This year, I'm getting all noble. My gift is my sig, and last Friday I braved the elements and spent the evening volunteering at a kids museum

mheisig · 12-12-2007, 03:50 PM

Quote:

Originally Posted by SmootSmack

Gift giving isn't a huge deal in my family. Not to be too sappy, but really it's about spending time together and creating new memories. My mom has been instrumental in driving home that point.

Don't get me wrong, we all exchange gifts. But they're simple gifts. Especially for the adults. My 1-year old niece will get showered with gifts of course.

This year, I'm getting all noble. My gift is my sig, and last Friday I braved the elements and spent the evening volunteering at a kids museum

Nothing against how your family does things in the least bit, but my wife and I decided this year that we were putting a $20 limit on what we get for our 18-month old daughter.

She already gets mountains of clothes and toys from grandparents and aunts and uncles, we just decided we'd get her a few small things and stuff her stocking and whatnot with empty boxes to rip paper off of.

When it comes down to it, she'll have just as much fun shredding wrapping paper as she will playing with some new whizbang toy which she won't remember and will be shelved in two months anyway.

I think equally as criminal as the parents who blow the money on themselves without saving for college are the parents who rack up debt buying their kids toys and clothes. There seem to be parents who define their identity on how much they spend on their kid's entertainment, as if it's virtuous to go into debt to buy your kid an Xbox 360...

Schneed10 · 12-12-2007, 03:57 PM

Quote:

Originally Posted by mheisig

I think equally as criminal as the parents who blow the money on themselves without saving for college are the parents who rack up debt buying their kids toys and clothes. There seem to be parents who define their identity on how much they spend on their kid's entertainment, as if it's virtuous to go into debt to buy your kid an Xbox 360...

Well said. And it's parenting like that which probably leads to so many young adults living well beyond their means and going into debt. If they grow up getting everything they want, they have a hard time refraining from buying everything they want when out on their own.

SmootSmack · 12-12-2007, 04:58 PM

Well the kids in my family aren't spoiled by any means. We didn't always get what we wanted growing up, but always what we need. We don't break the bank or sacrifice more important necessities to buy some toys

Lady Brave · 12-12-2007, 05:06 PM

My parents made me budget for my own christmas gifts. Every year they set a dollar limit and handed me a Sears Wishbook. It was actually fun to see how much stuff I could squeeze in within the limit. It definately taught me the value of a dollar.

SmootSmack · 12-12-2007, 05:08 PM

Quote:

Originally Posted by Lady Brave

My parents made me budget for my own christmas gifts. Every year they set a dollar limit and handed me a Sears Wishbook. It was actually fun to see how much stuff I could squeeze in within the limit. It definately taught me the value of a dollar.

You picked gifts out that 500 page Sears Catalog that used to come in the mail? I loved that catalog, those were the best!

Lady Brave · 12-12-2007, 05:15 PM

Quote:

Originally Posted by SmootSmack

You picked gifts out that 500 page Sears Catalog that used to come in the mail? I loved that catalog, those were the best!

The Sears Wishbook ruled.

Of course, the only real department store we had around here in the 70's was Sears. I feel like I spent half my childhood in that store.

firstdown · 12-12-2007, 05:15 PM

Quote:

Originally Posted by SmootSmack

You picked gifts out that 500 page Sears Catalog that used to come in the mail? I loved that catalog, those were the best!

Remember that time when a guys johnson was hanging out of his underwear in the Sears book? It was by accident but man everyone wanted to get that book to see what all the talk was about.

msm1971 · 12-12-2007, 06:51 PM

I think Hog1 is on the right path. My wife and I make good money and can afford pretty nice gifts for our kids, but being an engineer I started looking at things differently over the last couple of years. What I found was that regardless of what we get our kids it always winds up in a closet, broken or put away in their room someplace 6 months down the road so we keep it simple, like things that they need, then we decided that we would take 300 bucks, spend 150 on cheap toys and 150 on socks, t-shirts, underwear etc. The toys go to the kids in the local childrens hospital and the socks t-shirts etc. go to the veterans in the VA hospital here in town. My kids have more fun donating and watching other kids than they do opening big expensive gifts at home. Not to say we don't get our kids stuff, we do but its more needful things rather than stuff they want. I agree with many of you that Christmas has become the "I just one up'ed you-HA" holiday and thats not what it's about. I just want some time off to spend with my family. My wife's family used to do the name drawing thing and it ended up a competition so last year she told her mom that we are opt'ing out and getting gifts for those that really need them. By the way, I hope everyone does have a good relaxing holiday.

12-12-2007, 11:16 AM	#1
mheisig The Starter Join Date: Aug 2004 Location: The Southeast Age: 41 Posts: 2,119	Re: F.... Keeping up with the Jones's It's no real surprise that 1 in 20 people carry $2,000+ in credit card debt and the average savings rate is somewhere below zero. Way too many people living well beyond their means. I started making pretty good money recently (after I quit the police department) and I'd love to get myself a nice big plasma screen, but I just can't afford it. Rather than racking up $2500 in credit card debt and hoping I can pay it off, I'll just wait. I guess I don't see why that's so hard for some people to understand. I worked with a guy about five years ago who had $21,000 in credit card debt and he was only 20 years old. His monthly minimum payment was something like $1,200. And he'd still go out and buy video games and computer hardware - just blew me away. __________________ Your post count, reputation score, popularity ranking, VIP tag or funny signature has no bearing on how I value you as an individual.

12-12-2007, 12:08 PM	#2
MTK \m/ Join Date: Feb 2004 Age: 53 Posts: 99,913	Re: F.... Keeping up with the Jones's When I was in my early to mid twenties I'll admit I racked up some credit card debt. I think everyone goes through that to some degree. But once I finally wised up I put my cards away and paid as much as I possibly could every month until they were all zeroed out. It took me about 2 years to pay everything off but man I was damn proud of myself when I made that final payment. Now I only charge what I can pay off right away. I think it just takes a certain maturity level and a basic understanding AND acceptance that you can't have everything you want, when you want it. Now I find that paying for something that I saved up for with cash is far more satisfying. __________________ Support The Warpath! \| Warpath Shop

12-12-2007, 01:34 PM	#3
SmootSmack Uncle Phil Join Date: Feb 2004 Posts: 45,256	Re: F.... Keeping up with the Jones's Gift giving isn't a huge deal in my family. Not to be too sappy, but really it's about spending time together and creating new memories. My mom has been instrumental in driving home that point. Don't get me wrong, we all exchange gifts. But they're simple gifts. Especially for the adults. My 1-year old niece will get showered with gifts of course. This year, I'm getting all noble. My gift is my sig, and last Friday I braved the elements and spent the evening volunteering at a kids museum __________________ You're So Vain...You Probably Think This Sig Is About You

12-12-2007, 04:58 PM	#6
SmootSmack Uncle Phil Join Date: Feb 2004 Posts: 45,256	Re: F.... Keeping up with the Jones's Well the kids in my family aren't spoiled by any means. We didn't always get what we wanted growing up, but always what we need. We don't break the bank or sacrifice more important necessities to buy some toys

12-12-2007, 05:06 PM	#7
Lady Brave The Starter Join Date: Aug 2006 Location: Trinity, NC Age: 54 Posts: 1,444	Re: F.... Keeping up with the Jones's My parents made me budget for my own christmas gifts. Every year they set a dollar limit and handed me a Sears Wishbook. It was actually fun to see how much stuff I could squeeze in within the limit. It definately taught me the value of a dollar.

12-12-2007, 06:51 PM	#11
msm1971 Camp Scrub Join Date: Sep 2007 Posts: 8	Re: F.... Keeping up with the Jones's I think Hog1 is on the right path. My wife and I make good money and can afford pretty nice gifts for our kids, but being an engineer I started looking at things differently over the last couple of years. What I found was that regardless of what we get our kids it always winds up in a closet, broken or put away in their room someplace 6 months down the road so we keep it simple, like things that they need, then we decided that we would take 300 bucks, spend 150 on cheap toys and 150 on socks, t-shirts, underwear etc. The toys go to the kids in the local childrens hospital and the socks t-shirts etc. go to the veterans in the VA hospital here in town. My kids have more fun donating and watching other kids than they do opening big expensive gifts at home. Not to say we don't get our kids stuff, we do but its more needful things rather than stuff they want. I agree with many of you that Christmas has become the "I just one up'ed you-HA" holiday and thats not what it's about. I just want some time off to spend with my family. My wife's family used to do the name drawing thing and it ended up a competition so last year she told her mom that we are opt'ing out and getting gifts for those that really need them. By the way, I hope everyone does have a good relaxing holiday.

F.... Keeping up with the Jones's

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