The haves and the have nots!

This is an article on the sad state of financial affairs of many people. The author is quite honest in his evaluation of his own current financial affairs and how he got there. He has a loan modification and is paying off credit cards.

Honestly, I totally agree with him. I wish we had been more financially smart. We never made any smart decisions financially till really about the time I was diagnosed with cancer. But even in those first difficult years with treatment and A Stem Cell Transplant, we made plenty of mistakes. The biggest was refinancing when the market was at its height. We were foolish to believe the loan officer that this was a good deal to maximize money in equity. What a mistake. When the market crashed and we’ve been under water in this house, we are now on the other side that the market is coming back up. WE too had a loan modification and it saved us. This actually is just ending and then the interest rate is going up.

I think when I started to embrace being minimalist, budgeting, not spending money for things clicked for me. We’ve mad a lot of progress and are quite frugal in all expenditures. Yet, there are still expenditures that are outpacing income. We’re helping our son with money at junior college. We pay for his car insurance and food. It is not giving us much to put away but we want to help him right now. Smart move? I don’t know but we are making the decision to the best of our ability now. We also put our Federal taxes on a credit card and we’re having to pay that down.

All in all, everyone, I’m sure does what they can but sometimes keeping up with expenses versus money coming in is a struggle.

I also think that people who have received inheritances or who are wealthy, or have no mortgages , or maybe they’ve just done everything right and made enough money in their careers and have money to put toward savings etc,. Some of these people just don’t get it. Yes, we have family members who really don’t get it and of course live their happy go lucky lives with inheritances they received.

Yes, you can be frugal, budget, sing till your blue in the face, but sometimes there just isn’t enough money and how many of us are one pay check away from disaster. I’ve learned a lot in these last 5 years about being frugal and stockpiling pantry items, having a small emergency fund but there’s still a long way to go.

I don’t think it’s for us to judge others, though, maybe just some compassion and understanding.

3 thoughts on “The haves and the have nots!

  1. One of my favorite lines in theatre is in a play about struggling poor family. At one point the mother says “You know what the hardest thing about being poor is? It’s that people think we do this on purpose”.

  2. Like you, I try not to judge. I have no inheritance (luckily, my amazing parents are still alive & I don’t expect to receive anything – they should live it up). My husband & I are completely self made, and have both lived extremely frugally. We live less frugally now, but I’m also very financially conservative, so barring an extreme disaster, we are in good shape. I never say never. I also feel very blessed that we have a wide network of friends & family that we could lean on, should a major disaster strike. Not everyone is lucky like that.

  3. You do work extremely hard( from reading your blogs). You are really lucky to have such a supportive family. It’s really only my husband and myself and our 2 adult children. I have a sister back East, but she’s busy with her life. And I have a brother who is single and works a good job.
    I do wish we had been ‘smarter ‘ about money, but then at least I’m ‘smarter’now(ha, Ha)!!

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