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Where does the money come from?

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boyzrus

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Our neighbors just got their 5th car! They have 3 kids and now each kid has their own car. One goes to Wheaton College (very expensive), another one goes to college (don't know where) and the last one is a sophomore in high school (the one who just got the car). Oh and each car is purchased new. The son just got a Corolla and the daughters each have their own Jeep.

How the heck do people pay for all that? What am I doing wrong?

Ok, I feel better for typing this! I am constantly amazed by what I see.
 
People live day by day and with a LOT of debt. They just don't talk about it. My DH's co-workers are all in major debt because going out to eat and having houses they can't afford is what they are in to.
 
:lol: I don't know. I'm doing something wrong, too.
 
my kids go to private HS--ummm the had friends who were twins who both had hummers!--hummers in this day and age! he wanted his girls to be safe and protected..LOL

we all had cars when we were growing up but they were old and used and dad worked in a car related industry and got great deals ( like the car my oldest brother got-a beat up convertible for $50 LOL)
 
My BIL bought a car, I don't even know if he is making payments on it. He is also not making his house payment. He has some type of modification that put him in his home for 42 years. Could they be leases?
 
Not sure about the lease situation, but the Dad works for Northern Trust, so that makes me think he got some kind of deal on the car loans.
 
Either they are in debt or they live below their means. My parents sent all 3 of us to private high school, bought us each a new or nice used car, and paid for our college if scholarships didn't cover it. My parents lived and still do live well below their means. DH and I live well below our means also, and I hope to be able to provide the same for our son/children.
 
Maybe you could see if they would adopt my DD13? Last night she asked (very seriously) if we could get her a Range Rover when she turns 16. Not likely as DH drives a 10 year old car and we'll have 3 kids in college at that point. So, she's looking for a new family, preferably one that can support her in the manner she believes she should be living.

:giggles:
 
LOL my dd (17) wants a range rover too

and to set the record straight--even If they got good financing they have to make the payments--lOL
 
Dont ever feel bad for not spoiling your children. Children who are handed everything value nothing. If your children are not taught that hard word is how you get the good stuff , what incentive do they have?

ok ya caught me, I have never taken unemployment, free healthcare, housing
food stamps. I work for everything I have.
 
boyzrus said:
Our neighbors just got their 5th car! They have 3 kids and now each kid has their own car. One goes to Wheaton College (very expensive), another one goes to college (don't know where) and the last one is a sophomore in high school (the one who just got the car). Oh and each car is purchased new. The son just got a Corolla and the daughters each have their own Jeep.

How the heck do people pay for all that? What am I doing wrong?

Ok, I feel better for typing this! I am constantly amazed by what I see.
Click to expand...

These are the people that threw the country into the economic mess of a few years ago. This "I deserve it" mentality is the root of economic collapse. I have friends that are just like this ...buy buy buy! Of course, it gets them in the end, it always does. I am not flashy, but I have never had the "What am I gonna do?" thought. I am debt free (aside from my monthly credit card that I pay off each month). I don't drive a car made in the last 10 years. All of my cars are paid off. And I have a substantial savings/retirement. Priorities must be made. Do you want to live like you are rich now, and be poor later? Or would you rather live under your means and live rich later? The choice is simple for me since I don't want to work into my 70's like most of them will have to do.
 
I agree w/many others here...they are most likely in debt...I know several people who have flashy new cars, eat out ALL the time, etc. etc. These folks are also seriously in debt. It is a trade off.
 
They live in debt and way beyond their means. When they lose their jobs they ask me to buy them chickens and milk because they can't afford groceries.
 
Grandma and pops dropped dead with a few mil and they are blowing it like they expect them to die over and over?
 
Tazznum1 said:
Grandma and pops dropped dead with a few mil and they are blowing it like they expect them to die over and over?
Click to expand...

Nope, they are still around. They are always at the house. They just got a new Lexus SUV!

The reason I notice the car thing so much is that they park in front of our house all the time! They have a 3 car garage and a pretty big driveway and a few spots in front of their house, but they park in front of mine. I just don't get it.
 
LWmommyof3 said:
Dont ever feel bad for not spoiling your children. Children who are handed everything value nothing. If your children are not taught that hard word is how you get the good stuff , what incentive do they have?

ok ya caught me, I have never taken unemployment, free healthcare, housing
food stamps. I work for everything I have.
Click to expand...

Ahh, another thread where you have to jump in to point out how much better you are than other people.

How nice for you.
 
...but some people do make good money and can afford it all. I am jealous of them--LOL

Hey we dont spoil our kids--I think it is good to learn how to share and be patient. (Yeah we have ONE shower for all 6 of us..we just take turns and everyone is patient - well most of the time) my 3 teen drivers share one car..and its rather beat up ( thanks to them..)
 
Grandma and pa probably are starting to dole it out to each person - $10k a year they can give (iirc).
 
On the bright side, people who are such great consumers of goods are helping in this economy, so I say they can BUY ON! :p

I bet their 3 car garage is filled with crap. (I shouldn't talk, as our 2 car garage is filled with crap, too. :lol:)
 
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