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Thread: Financial advice needed

  1. #1
    IBA #44567 Ken F's Avatar
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    Financial advice needed

    This is a household budget of some good friends:

    Annual income: $24,900
    Annual Spending: $35,370
    Credit Card Debt (new last year) $10,870
    Existing (previous) Credit Card Balance: $167,600
    This is a pretty irresponsible family isn't it?

    Actually, if you add 8 zeros, this is our Country's economy.
    Just something to ponder...........

    Ken
    IBA #44567 Pres. Springfield BMW Roadriders
    "Two things are infinite: the universe and human stupidity; and I'm not sure about the the universe."
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  2. #2
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    Maybe the family should stop hanging out in other people's yards, pretending they have to clean up there..

  3. #3
    Dale Rudolph
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    The Pentagon alone spends 1 1/2 billion dollars a day. Yet there is no money to fix subways, roads, bridges. Teachers are laid off due to lack of funds. The U.S. rates # 22 in health care. One out of every five people now live in poverty. Just a few other things to ponder.

  4. #4
    Cannonball Rider #52 darrylri's Avatar
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    < mod >

    Can anyone tell me why I shouldn't close this thread for straying into politics?

    < /mod >
    --Darryl Richman, forum liaison
    http://darryl.crafty-fox.com

  5. #5
    IBA #44567 Ken F's Avatar
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    Well, so far it has not strayed into right or left controversy. It is thus far simply a discussion of the monetary state of our nation.
    A financial discussion, not a political one.

    I would bet however that in 2-3 more posts, you will be perfectly justified.

    Ken
    Last edited by Ken F; 06-01-2013 at 03:28 AM.
    IBA #44567 Pres. Springfield BMW Roadriders
    "Two things are infinite: the universe and human stupidity; and I'm not sure about the the universe."
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  6. #6
    Registered User 36654's Avatar
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    Quote Originally Posted by darrylri View Post
    < mod >

    Can anyone tell me why I shouldn't close this thread for straying into politics?

    < /mod >
    Considering that the family income is less than 50% of the median household income level or twice the poverty income level for 2 people. It's not hard to see why they're running in deficit and relying on credit to get by. They need better jobs that possibly provide some benefits.
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    Quote Originally Posted by Rudyjo View Post
    The Pentagon alone spends 1 1/2 billion dollars a day. Yet there is no money to fix subways, roads, bridges. Teachers are laid off due to lack of funds. The U.S. rates # 22 in health care. One out of every five people now live in poverty. Just a few other things to ponder.
    The bridge at the bottom of my hill (on a public road) is falling apart what with large cracks and concrete falling off in chunks(quarry traffic all day long) but they built a new one down the road 2 miles to replace one(no quarry traffic) that was very OK-maybe "they" are blind or stupid ?
    "If I had my life to live over, I'd dare to make more mistakes next time...I'd relax,I'd limber up... I would take fewer things seriously...take more chances... take more trips...climb more mountains...swim more rivers...eat more ice cream." Jorge Luis Borges at age 85.

  8. #8
    Survivor akbeemer's Avatar
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    Yo!!! Ken, next time you speak to the head of that family, how about asking if they can loan me $10,000 (plus a buncch of zeros)
    Kevin Huddy
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  9. #9
    #4869 DennisDarrow's Avatar
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    Quote Originally Posted by darrylri View Post
    < mod >

    Can anyone tell me why I shouldn't close this thread for straying into politics?

    < /mod >

    Well, actually there is always that child that get's the "special ed" entitlements because they are so learning deficient that they can't follow directions. THEY should be deleted rather than the whole family.

    This particular family needs lot's of advice and direction that can be wisely put forth here...........

    God bless the USA........Dennis

  10. #10
    Registered User dmftoy1's Avatar
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    Interestingly here in Illinois they're replacing bridges that are in good shape. . . Guess the money is flowing into IL for some reason, DEFINATELY isn't the local economy doing it. (4 new bridges within 5 miles of my house in last years)

  11. #11
    Registered User 36654's Avatar
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    Quote Originally Posted by dmftoy1 View Post
    Interestingly here in Illinois they're replacing bridges that are in good shape. . . Guess the money is flowing into IL for some reason, DEFINATELY isn't the local economy doing it. (4 new bridges within 5 miles of my house in last years)
    What evaluation criteria did you use to determine that the bridges were good? Are you a licensed bridge inspector?
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  12. #12
    Registered User 36654's Avatar
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    Quote Originally Posted by kantuckid View Post
    The bridge at the bottom of my hill (on a public road) is falling apart what with large cracks and concrete falling off in chunks(quarry traffic all day long) but they built a new one down the road 2 miles to replace one(no quarry traffic) that was very OK-maybe "they" are blind or stupid ?
    Why doesn't the quarry company offer the state some money to fix the road which insures their profitability.
    Cave contents: 99 R11RS, 2013 Toyota Tacoma, 03 Simplicity Legacy, 97 Stihl FS75, Dewalt DW625 & DW744

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  14. #14
    It is what it is. Bud's Avatar
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    Quote Originally Posted by dmftoy1 View Post
    Interestingly here in Illinois they're replacing bridges that are in good shape. . . Guess the money is flowing into IL for some reason, DEFINATELY isn't the local economy doing it. (4 new bridges within 5 miles of my house in last years)
    Illinois is BROKE!

    Maybe you local rep "brought home the bacon"?
    I used to post here, but now I don't.

  15. #15
    Registered User LDB's Avatar
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    Quote Originally Posted by Ken F View Post
    This is a household budget of some good friends:

    Annual income: $24,900
    Annual Spending: $35,370
    Credit Card Debt (new last year) $10,870
    Existing (previous) Credit Card Balance: $167,600
    This is a pretty irresponsible family isn't it?


    Actually, if you add 8 zeros, this is our Country's economy.
    Just something to ponder...........

    Ken
    Always has been however if you were to go back 5 years you'd find much less irresponsibility with the credit cards.
    CCC, NRA, OOIDA Life Member
    BMWMOA Member 15945

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