| Welcome to The Outside Course! You're currently viewing our forum as a guest. This means you are limited to certain areas of the board and there are some features you can't use. If you join our community, you'll be able to access member-only sections, and use many member-only features such as customizing your profile, sending personal messages, and voting in polls. Registration is simple, fast, and completely free. Join our community! If you're already a member please log in to your account to access all of our features! |
| Paying Bills; Spinoff from TOB | |
|---|---|
| Tweet Topic Started: May 10 2010, 09:36 AM (864 Views) | |
| CDE Driver | May 10 2010, 01:05 PM Post #16 |
|
It'll be an adventure! We're going on an adventure!
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]()
|
I did go through a fiscally irresponsible period in my youth. Now I have a panic attack if everything isn't paid in full each month. We are extremely fortunate to be debt free. We are careful and not big spenders.And I am with you all in not understanding people that just don't pay their bills. |
![]() |
|
| Little Diva | May 10 2010, 01:44 PM Post #17 |
|
You're BANNED!
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]()
|
There are folks who run up debt, with no care, no concern and no planning for how things will get paid. They live well OUTSIDE their means but eventually the house of cards comes crashing down around their heads. Yes, without a doubt they are to blame for their woes and misfortunes. But I also look at the whole housing debacle from a year ago and that is still on going in some locations and I wonder how in the name of heaven did the banks ever think that these folks would be able to PAY when the balloon payments hit? that frustrates me to no end that the banks and credit card companies CONTINUED to hand out credit and vast amounts of credit to those that should not have had it. Now granted, there are those who just dont give a flying f**k and spendspendspend.Then there are those people, like ME, who live from pay cheque to pay cheque. I am not broke, but I do have bills to pay. Sometimes, I have to rob from peter to pay paul, but I do get paul paid just as soon as I can. I don't like debt, and I dont like bill collectors calling either. I am up front if I have to be late with a payment and will gladly accept a late fee if I have to. And there have been times in the past when I knowingly bounced a cheque to the grocery store because it was either that or my kids had no food. And yes, the grocery store did get paid. What I DO NOT like, and I saw this a lot when I was managing a barn was that I would have to CHASE the people who had money to pay their bills on time. And they were the ones who always showed up with the new, hot saddle, the newest breeches, the best boots and so on. But pay their bills for their horses on time? Meh -- never. I do not understand that attitude one bit. |
![]() |
|
| RHowell | May 10 2010, 02:06 PM Post #18 |
|
You're BANNED!
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]()
|
I don't think our industry does much to discourage this. I don't like to spend more money than I have on hand and am not embarrassed to say 'I can't afford to do x" however I've had trainers who encouraged me to show anyway and make payments--um, if I don't have the money to pay your bills for a show this month why am I going to have money to pay you for the show I want to do next month and the show I did this month that I couldn't afford--my salary isn't getting doubled out of the blue next month and I don't have a terminally ill relative! The people who do take up these types of offers (be in from trainers, from credit card companies extending people more credit than they can afford to pay for, etc etc) then make life more expensive for the rest of us who do pay our bills on time and live within our means. The sense of entitlement really ticks me off
|
![]() |
|
| Trixie | May 10 2010, 02:50 PM Post #19 |
|
Thomas H. Cruise!
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]()
|
Agree with Rhowell - and also am fully aware of the fact that you DO get to review the terms of your mortgage before you sign on the dotted line. If you're making a half million dollar investment on say, a house, and your salary is $30K, perhaps it would behoove you to use a calculator and see if the math actually WORKS. Or, at the very least, hire someone that can help you with that. Granted, some banks did prey on people without money, but other people made very bad decisions, but I was reading MULTIPLE articles about people who "just didn't read their mortgage" and were "shocked" when it went up, or who were living well beyond their means and couldn't pay for it anymore. I've got a reasonably decent job and have wanted to buy a home for several years (I am by no stretch affluent). Due to the inflation in our area, I haven't been able to find a reasonable one that I like and can afford - moreover, it's very expensive here, and it still feels unstable. These things DO affect all of us. |
![]() |
|
| Corey94 | May 10 2010, 03:00 PM Post #20 |
|
Off visiting Candy Cave, be right back.
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]()
|
I am a worryer about my/our credit. If I overspend on my CC, I force myself to take the money out of our savings (meager that it is) to pay it in full each month. My hauling truck needed some significant maintenance last month, and I put it on my CC. Paying that sucker off was not a good time!! But, I got it done... The whole bankruptcy thing makes me . A friend's stepson, and his future ex-wife declared bankruptcy when the sh!t hit the fan as they attempted to separate. Now their significant credit card debt just majikally disappeared. Oh, and he just bought a 'new to him' Bronco that he had to finance. Oh, and it's already broken down and cost him MORE money. What was he thinking? I am annoyed with him as I know we are all on the hook for his debt.
|
![]() |
|
| SnackPack | May 10 2010, 03:35 PM Post #21 |
|
You're BANNED!
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]()
|
I have a hard time feeling sorry for people because they bought too much house. No one made them sign on the dotted line. Just because everyone else is jumping off the bridge and the nice person at the mortgage lender is inviting you to jump off as well, doesn't mean you have to. I had a co-worker buy a house a few years ago. The payment was literally her entire month's salary. All their expenses had to come from the husband, who had a $10/hour job as well. They had to have a roommate to make the situation work at all. They have made it so far, but I can't help but think they were reckless. |
![]() |
|
| FlashGordon | May 10 2010, 05:05 PM Post #22 |
|
You're BANNED!
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]()
|
On the flip side, I CAN see how things can get out of hand even for folks who are financially responsible and doing the best they can. Hubby and I make average middle class salaries, and are conservative with our spending. But when I got really sick a few years ago and couldn't work, I realized how fast things can add up and how quickly your finances can unravel. Hospital/medical bills alone, even with insurance, can be overwhelming. We were lucky in that we didn't have serious debt to start with, lived pretty simply, and we were able to avoid a major financial calamity. It definitely opened our eyes though and we are even more conservative than we used to be, making sure we can live on 1 income entirely if necessary, cause ya just never know.... What amazes me are the peeps at my barn who owe MONTHS in back board but are busy gearing up for show season... WTH! |
![]() |
|
| Smiles | May 10 2010, 05:38 PM Post #23 |
|
It'll be an adventure! We're going on an adventure!
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]()
|
This happened at my old show barn all the time. Barn owner told trainer that unless they (more then one family) paid on their passed due show/board bill their horses wouldn't step foot on the trailer to leave the farm. Trainer would say their good for it and they would go to the show. Blew my mind every time because then they would just owe another bill. Also they would owe the shoer, braider, vet and ect. Stop keeping up with the horsey Jones and putting yourself further into debt. I could only imagine what these people's credit card and mortage payments looked like. And with regards to the mortage crisis the only people I feel sorry for are the folks that lost their jobs and went through the savings/401K to try to save their homes. Everyone else should have been aware that if you only make 50K a year maybe a 400K home isn't something you can afford even though your lender seems to want to give you that much credit. Thats what happened to both our next door neighbors and now my house value suffers because of this crap.
|
![]() |
|
| DairyQueen2049 | May 11 2010, 05:16 AM Post #24 |
|
DRAGON BREATH. DRAGGIN' BUTT
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]()
|
I know here in MI there were TWO women who embezzelled money from work to pay for the horse habit!!! There was also: http://www.nytimes.com/2010/01/04/nyregion/04sandhog.html I also have co-workers who's motto is "I don't care who owns it as long as I get to use it" - they pay only interest on the house, lease a car instead of own, have boat, trailer, camper, ski-doo, etc payments. |
![]() |
|
| headlesshorseman | May 11 2010, 05:32 AM Post #25 |
|
You're BANNED!
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]()
|
I got one credit card paid off this past year JUST ONE MORE TO GO...I pay on time and always OVER the amount....I have gone to CASH if at all possible....and that has SLOWED my spending DOWN BIG TIME.....that and I don't get on eBay as much.. HH
|
![]() |
|
| Trixie | May 11 2010, 06:05 AM Post #26 |
|
Thomas H. Cruise!
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]()
|
Yes - and even the best laid plans can fail. However, those people weren't the ones that caused this meltdown. The system can handle a few illnesses or lost jobs - even if it's unpleasant for those people - but the system cannot handle that en masse, just like it can't handle a bunch of foreclosures all at once. Thus, it self-corrects rather unpleasantly. |
![]() |
|
| RHowell | May 11 2010, 06:42 AM Post #27 |
|
You're BANNED!
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]()
|
This. Trixie, you always seem to be wise beyond your years. |
![]() |
|
| Absolut Equestrian | May 11 2010, 06:52 AM Post #28 |
|
Weanling
![]() ![]() ![]()
|
I have to agree on this one. Growing up, my parents were the opposite of financially responsible. As a child I often answered the phone or even the door when debt collectors came calling, and was instructed to tell them that my parents weren't available. This absolutely terrified me, and I was DETERMINED not to get into the same situation myself. It really frustrates me how careless many people in my generation are with debt/money. Then again, I understand that it is not something that is taught in high school or even college, so if you're parents aren't helpful you have to educate yourself. |
![]() |
|
| Fish Cheeks | May 11 2010, 07:01 AM Post #29 |
![]()
You're BANNED!
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]()
|
I am so thankful that my parents taught me about money. When I was young my mom took me to the bank to open an account and taught me how to write checks and balance a checkbook. Not once did she ever teach me that credit was an option - she taught me about saving to pay for things you want and using cash to do so. When I went to college I did have a credit card but tried to not spend too much on it. I may have gone overboard on a couple of purchases, but didn't get into too much trouble. I agree, FG, about the debt-free education. I was very lucky to be in that situation, but I know that not everyone has that opportunity. Aside from our house I cannot think of anything that I have bought on credit. I bought my truck used years ago, Mr. Fishy has his car, bought my other car from my parents when they got a new car...saved for years to buy the new trailer we got a couple years ago. While technically I do have money in the bank to buy new clothes, I am one to say I can't afford it because it is just not a priority to me. I do not understand not paying your service providers - vets, farriers, boarding barn, etc. Those people have to eat and pay for their living expenses, too, and as glamorous as their jobs sound, I don't think they are raking in the dough. Sometimes I feel like and old curmudgeon!!!!
|
![]() |
|
| MayaTy02 | May 11 2010, 07:02 AM Post #30 |
|
You're BANNED!
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]()
|
well I have to comment on the whole housing thing because it is not all "irresponsible" people that are in trouble - it could be anyone. We bought our house in 2001, had plenty of income to support the purchase, in fact I am the first one to say to the mortgage people, "yeah I know what you say I can afford but I also know what I know I can't afford" so we probably could have qualified for another 25% in purchase price but didn't. We lived there a couple of years and I had my twins. Once my twins were bornn we decided to see if it were possible for me to stay home at least while they were infants, mostly because the cost of a nanny or daycare was cost prohibitive for twins. Called my mortgage broker who said, "oh just get an interest only 5/1 ARM" and we can cut your mortgage by almost $1000 per month. To which I said, "yeah but what happens in year 5?" and she answered "you just refinance". I signed on the dotted line. Why would I have any reason to believe in 2003 after the value of my house has already increased by 25% in two years that I wouldn't be able to refinance? Worst case I figured we'd sell and move. Fast forward to 2008, year 5 of my interest only loan, and you all know what happened. The market fell out, our house wouldn't sell, and when we once had 40% equity, we ended up with only about 18%, too little to refi. We HAD to move. We couldn't refinance, we couldn't afford the new payments which were on the horizon. We both had, and thank goodness still do, have credit scores over 700. We were maybe only a year or two away from financial disaster. So you see, we didn't go out and buy a house over our means, or get an expensive car or run up our credit cards. But we could have been one of the statistics. Thank god we were finally able to sell our house and move and you better believe we have a 30 yr fixed mortgage and I cheer everytime I write that mortgage check. Edited by MayaTy02, May 11 2010, 07:03 AM.
|
![]() |
|
| 1 user reading this topic (1 Guest and 0 Anonymous) | |
| Go to Next Page | |
| « Previous Topic · The Hay Loft · Next Topic » |





![]](http://z1.ifrm.com/static/1/pip_r.png)
Now I have a panic attack if everything isn't paid in full each month. We are extremely fortunate to be debt free. We are careful and not big spenders.



that frustrates me to no end that the banks and credit card companies CONTINUED to hand out credit and vast amounts of credit to those that should not have had it. Now granted, there are those who just dont give a flying f**k and spendspendspend.

1:52 AM Jul 11