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OT: How many missed paychecks would it take for you to be homeless?


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Showing 101-122 of 122 posts in this discussion
In reply to an earlier post on Dec 18, 2012 8:18:06 PM PST
Keep telling yourself that, boy-o.

In reply to an earlier post on Dec 18, 2012 8:19:04 PM PST
Last edited by the author on Dec 18, 2012 8:19:58 PM PST
To be fair, the thing you do probably nets you more money than anyone else on this forum. Especially when you consider the tax thing, too.

Posted on Dec 18, 2012 8:29:18 PM PST
My "job" is extremely stable, so short of disability I should be fine.

Posted on Dec 18, 2012 9:12:47 PM PST
Last edited by the author on Dec 18, 2012 9:13:05 PM PST
if missed paychecks makes you homeless YER DOIN IT WRONG

Posted on Dec 18, 2012 11:00:37 PM PST
Nicos says:
all of them

Posted on Dec 19, 2012 4:15:31 AM PST
Last edited by the author on Dec 19, 2012 4:17:15 AM PST
got mayo?™ says:
For those without a mortgage, to think of it would be worse off, in terms of truly being homeless. Having a mortgage, in an unethical way to look at it, is in itself an insurance policy for many as a last resort.

I have a few friends who have hit dire straits, whether it be employment related or life changing events, but managed to stay in their home a year and a halfto 2 yrs before having to walk away...and in that timeframe managed to get back on their feet and let go with some savings and relocated to a cheaper rental.

If you have family in-state, there should be no reason a helping hand is not available, even for an short interim. Look at the situation natural disasters like Sandy or Katrina put families in.

Again, disability is probably my biggest fear. Knowing that even if it were possible, there was no way i could generate income...ever.. Scary. I wouldn't wish that upon anyone. Though some people out there actually find ways like that to qualify for early retirement.

In reply to an earlier post on Dec 19, 2012 5:34:06 AM PST
I really should price long term disability insurance. I've got life insurance. Working at a desk job, even if I were crippled in a car accident I could still wheel myself into the office and type at the computer.

I wish I remembed the exact stat I heard a few months ago, but it was something along the lines of if you're under the age of 40 or 50 you're 10 times more like to be permanently disabled than die before retirement. Yet way more people have life insurance than disability insurance.

In reply to an earlier post on Dec 19, 2012 5:49:50 AM PST
If you believe you can change, or believe you can't; you're right.

Posted on Dec 19, 2012 5:58:54 AM PST
Kendahl says:
"I have a few friends who have hit dire straits, whether it be employment related or life changing events, but managed to stay in their home a year and a halfto 2 yrs before having to walk away...and in that timeframe managed to get back on their feet and let go with some savings and relocated to a cheaper rental."

My sister is perpetually broke, has a husband who won't work and she does small jobs. They haven't paid their mortgage on their home in more than three years and the bank gave up trying to get them out. The house is probably worth less than the hassle the bank would have by repossessing...

In reply to an earlier post on Dec 19, 2012 6:47:53 AM PST
pasteyswazey says:
I'm amazed at some of the great investment advice I see on here. My plan is simply putting $50 a month into a high risk stock portfolio through my bank right now. That's all I can save. I have retirement because I'm a state worker, but I, probably unwisely, never check on that. But, right now I pay a mortgage, at the end of the month after all my bills, there is only a $100 left to do anything with and usually I just don't spend that because the next month there is always an unexpected expense that will eat that, ex. new brakes on the car, oil changes, just day to day living stuff. There is nothing to put away and save. Wife works, but it's all she can do to get by. So, when I look at how many paychecks it'd take to be homeless, all I ever see is about 1 to 2 paychecks away because we spend the bare minimum on "extras" and there's simply no more to put away. It's great you guys can save, but I can't see it on a teacher's salary, something that's possible.

Posted on Dec 19, 2012 6:54:17 AM PST
Between the wife and myself I think we could make it 2 years without pay...assuming we don't eat or pay other bills.

In reply to an earlier post on Dec 19, 2012 7:37:53 AM PST
PacinoBully says:
$22,000 currently.

In reply to an earlier post on Dec 19, 2012 7:45:42 AM PST
PacinoBully says:
Losing job = skinny wife

hmmmmm decisions decisions

In reply to an earlier post on Dec 19, 2012 7:52:50 AM PST
But if I'm not eating as well I wouldn't even have the energy to bang her. Oh cruel world.

In reply to an earlier post on Dec 19, 2012 8:00:10 AM PST
PacinoBully says:
I'll jump in front of that bullet for ya bud.

In reply to an earlier post on Dec 19, 2012 8:11:39 AM PST
Fidel Amaya says:
Fo Fiddy, Five Fiddy or maybe just fiddy for me.

In reply to an earlier post on Dec 19, 2012 9:23:40 AM PST
Thanks man, you are truely a kinda and ...waitaminute!

In reply to an earlier post on Dec 19, 2012 9:38:50 AM PST
This time last year I felt completely hopeless. I had maxed out a credit card by Dec that I had just opened in Sept. That was a new record. Of course I opened that card because I had already maxed out the 3 other cards I owned. When I opened my statements each month they told me it would take 30 years to pay them off making minimum payments. I just figured I'd be in debt the rest of my life.

The turning point happenned when my wife and I signed up for Financial Peace University at our Church. We caught the dream of being debt free and having a 6 month emergency fund. The steps to get there were really easy for us. We just had to decide to tell our money where to go rather than wondering where it went. Now if our pace continues we'll have paid off $34k in debt in 11 months this Feb.

You can change your financial destiny, you just have to believe you can. Dave Ramsey's book The Total Money Makeover is a good starting point too. It was the fastest I've read a book in a long time.

In reply to an earlier post on Dec 19, 2012 12:09:29 PM PST
pasteyswazey says:
That'd be great if there were more coming in. Like I said, I've looked at programs like that, and all they say is don't spend on extras. Well, we have no extras. I have one credit card, my mortgage, and my equity line I took out when I bought our home to finish the little extra it took. Those are my three major bills. Between, that, eating (which I eat with my parents every night to save money), gas, taxes, and maintenance bills like propane, electricity, county water, tithing (I do stay faithful to that), everything is gone. I guess if you could say I have extra I do have a minimum bundle of Internet, Cable, and Phone that I could snip, but I'm getting just the basic services on all 3, no premium channels or Internet, and I guess that's part of my entertainment budget, and I don't have a car payment right now, couldn't make it if I did.

I just look at it like this. We're blessed to be in a super nice home right now, I'm considering that my investment, moreso than stocks and savings. I just hope to pay that off as early as I can, it's where my tax refund goes every year. So, if I can ever get that paid off, we could eat off of what might come from in from retirement checks down the road.

But yeah, opening and maxing out 3 credit cards, I can see where that might ease you into a depressed state. I've heard of the strategy of paying the minimum on one card, and doubling up to pay the other card off, then when one is paid off, put that full amount to the other and wipe it out. Which is a good strategy, but those classes like you're talking about . . . I've seen one offered here for like $300, ha. There's no way I think I could pay for that.

Ahhh, finance talk, makes me feel like I'm a real grown up.

In reply to an earlier post on Dec 19, 2012 2:32:39 PM PST
Well, when you're ready for a change, I would highly recommend FPU.

Good on you for continuing to tithe. It's all God's money anyway, He's just letting us manage it.

I didn't think there was any room in our budget either, but when we actually wrote down EVERYTHING we spent money on we saw exactly where we could make cuts. We stopped eating out all together, we shut off our cable in favor of over the air TV and Netflix and we switched from "smart" phones back to "dumb" phones.

Oh and the debt snowball totally works! You start off with a few quick "wins" and it gives you the motivation and the extra cash to keep going!

Of course it didn't hurt that in June I doubled my income. I don't know whether to attribute that to God's blessings, Dave Ramsey's motivation or my own hard work, but it's probably some combination of the 3.

You sound like you're stuck in a rut that you don't want to be in, but you don't think you can ever get out of either. I'm here to tell you that you CAN change your financial destiny, but it has to be YOUR choice. the Total Money Makeover - <=== A LOT less than $300!

Posted on Dec 19, 2012 7:42:29 PM PST
pasteyswazey says:
It is a great blessing that you were able to double your income. I have my job and I like it although there will never be a considerable pay raise being a teacher. I'd have to switch professions, but we already have dumb phones (I'm not a texter by any means) and we never eat out as it is.

In my current profession, I'll never be able to be more than two months in the clear; it's a little worrisome, but I can deal. The only way to be able to save money for me is to switch jobs, and I currently like being able to have an impact on students. I have my first child on the way, so all this might change as I see I may have to have more money, but we'll just have to see where it goes.

Thanks for the discussion though.

In reply to an earlier post on Dec 19, 2012 8:38:05 PM PST
Wow, that's crazy. It sucks how lazy people seem to be able to get away with everything. If I didn't pay my mortgage, I bet the bank would have police at my house within a few months.
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This discussion

Discussion in:  Video Games forum
Participants:  50
Total posts:  122
Initial post:  Dec 18, 2012
Latest post:  Dec 19, 2012

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