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Financial advice needed

Ken F

IBA #44567
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
 
Maybe the family should stop hanging out in other people's yards, pretending they have to clean up there..:scratch
 
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.
 
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
 
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< 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.
 
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 ?:)
 
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)
 
< 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
 
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)
 
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?
 
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.
 
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"?
 
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.
 
Always has been however if you were to go back 5 years you'd find much less irresponsibility with the credit cards.

Dream on....................You can peg the day in 2001 when the Alan Greenspan said surpluses were a drag on the economy and justified tax cuts to rates lower than anytime since the start of WWII. Then surplus vanished...........puff

Now, the moderator can shut this farce down as being too political..................
 
Chapter 7 time. Cash out and start over. Burn the credit cards. And for God sake, never discuss politics :p (can I say God or is that political?)
 
Now, the moderator can shut this farce down as being too political..................
++Moderator Interruption+++

We are keeping an eye on this for a number of reasons- Politics being one. Politics are not allowed as it's a no win fight that disrupts the forum. Now and again someone will hit the outrageous button to get the last word in and close the thread. I'd kinda like to skip that as it doesn't help.
Thanks, The Mod Team.
 
What evaluation criteria did you use to determine that the bridges were good? Are you a licensed bridge inspector?

Nope, never claimed to be, but new bridges on country roads with little to no traffic on bridges that couldn't have been 15-20 years old. Plus living in IL for 25 years you begin to see patterns.
 
Nope, never claimed to be, but new bridges on country roads with little to no traffic on bridges that couldn't have been 15-20 years old. Plus living in IL for 25 years you begin to see patterns.

Perhaps you should invest in the education and licenses that would allow you to make those judgements for others. As is, you are just speculating on subjects with no technical basis that might cost someone's life.
 
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