I've been thinking about it and the main thing I have learned is we need to pay off all bills and have savings in case my dh were to lose his job. It was tough for a year when he lost his OT.
I think it's something everyone should be prepared for. I hear people say you have to have money to relocate if you lose your job. Well, yeah you do though I could do it with very little if I really tried. I'd sell everything except 1 car and mattresses and clothing to do it if thats what it took. I see where it would be hardest on the already poor but doesn't that make you want to get out of your "poor" situation even more?
I have learned that many in our govt knows less than my 9 year old about recessions...because no one can spend their way out of debt.
Answer by momjoy1027 at 9:42 AM on Jul. 20, 2010
Answer by lovinangels at 9:43 AM on Jul. 20, 2010
That people have incredibly short memories. After each recession, despite everyone saying "this time I'll save and avoid debt" they turn around and spend spend spend as soon as things get a little better. And the next time a recession comes around they caught unawares again. High debt and no savings.
Answer by Bezu at 11:25 AM on Jul. 20, 2010
Answer by michiganmom116 at 11:39 AM on Jul. 20, 2010
Answer by Cassarah at 9:45 AM on Jul. 20, 2010
Some people mind being poor very little.
My loser brother, for one. We grew up in a frugal household, and my parents taught us about saving and investing, but he chose the opposite. He blows every dime, has never had a savings account, and is always looking for ways to scam the welfare system. Even when he came into large amounts of money, he wastes it all on junk, never saving or investing. His credit is crap and he doesn't care. He works as little as possible as infrequently as possible.
Answer by mancosmomma at 10:11 AM on Jul. 20, 2010
Answer by mancosmomma at 10:14 AM on Jul. 20, 2010
Name some that are NOT LOSERS
Answer by mancosmomma at 11:46 AM on Jul. 20, 2010
Answer by mommymela87 at 9:37 AM on Jul. 20, 2010
Us too lovin...I couldn't believe we made it...with NO late payments...and now a somewhat sigh of relief!
Answer by sweet-a-kins at 9:45 AM on Jul. 20, 2010
Next question overall
Does everyone's car shake like this on the highway?