The Official ZS DEBTSQUAD: BODY COUNT thread.

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Re: The Official ZS DEBTSQUAD: BODY COUNT thread.

Post by MPMalloy » Thu Aug 24, 2017 7:33 pm

Halfapint wrote:Definitely trying to be better about spending
Same here, but hey! New-to-me AR, yo!

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Re: The Official ZS DEBTSQUAD: BODY COUNT thread.

Post by absinthe beginner » Thu Aug 24, 2017 7:37 pm

Debt is slavery.

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Re: The Official ZS DEBTSQUAD: BODY COUNT thread.

Post by MPMalloy » Thu Aug 24, 2017 7:41 pm

absinthe beginner wrote:Debt is slavery.
we fight for our freedom! :twisted:

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Re: The Official ZS DEBTSQUAD: BODY COUNT thread.

Post by MPMalloy » Thu Aug 24, 2017 9:51 pm

No matter how much you earn, getting by is still a struggle for most people these days.

Seventy-eight percent of full-time workers said they live paycheck to paycheck, up from 75 percent last year, according to a recent report from CareerBuilder.

Overall, 71 percent of all U.S. workers said they're now in debt, up from 68 percent a year ago, CareerBuilder said.

While 46 percent said their debt is manageable, 56 percent said they were in over their heads. About 56 percent also save $100 or less each month, according to CareerBuilder. The job-hunting site polled over 2,000 hiring and human resource managers and more than 3,000 full-time employees between May and June.

Most financial experts recommend stashing at least a six-month cushion in an emergency fund to cover anything from a dental bill to a car repair — and more if you are the sole breadwinner in your family or in business for yourself.

While household income has grown over the past decade, it has failed to keep up with the increased cost-of-living over the same period.

Even those making over six figures said they struggle to make ends meet, the report said. Nearly 1 in 10 of those making $100,000 or more said they usually or always live paycheck to paycheck, and 59 percent of those in that salary range said they were in the red.

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Re: The Official ZS DEBTSQUAD: BODY COUNT thread.

Post by MPMalloy » Wed Oct 04, 2017 11:53 pm

4 Ways to Bounce Back From a Financial Setback

Also, I cut up a credit card. :D

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Re: The Official ZS DEBTSQUAD: BODY COUNT thread.

Post by flybynight » Thu Oct 05, 2017 8:31 am

MPMalloy wrote:4 Ways to Bounce Back From a Financial Setback

Also, I cut up a credit card. :D
I tried that once. Didn't really help much. Just made it more difficult to swipe the pieces at the LGS
As of now I bet you got me wrong

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Re: The Official ZS DEBTSQUAD: BODY COUNT thread.

Post by Speaker0311 » Sun Nov 12, 2017 8:54 am

Cryptocurrency is like a debt zombie eating mini-gun that fires flaming, acid coated sharks with lasers on their heads.

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Re: The Official ZS DEBTSQUAD: BODY COUNT thread.

Post by MPMalloy » Tue Nov 14, 2017 6:09 pm

From CNBC: Richest 1% now owns half the world's wealth
Richest 1% now owns half the world's wealth

The wealthiest 1 percent of the world's population now owns more than half of the world's wealth, according a Credit Suisse report.

The total wealth in the world grew by 6 percent over the past 12 months to $280 trillion, Credit Suisse said.

That was the fastest wealth creation since 2012.

By Robert Frank | @robtfrank Published 6 Hours Ago Updated 9 Mins Ago CNBC.com

The wealthiest 1 percent of the world's population now owns more than half of the world's wealth, according to a new report.

The total wealth in the world grew by 6 percent over the past 12 months to $280 trillion, marking the fastest wealth creation since 2012, according to the Credit Suisse report. More than half of the $16.7 trillion in new wealth was in the U.S., which grew $8.5 trillion richer.

But that wealth around the world is increasingly concentrated among those at the top. The top 1 percent now owns 50.1 percent of the world's wealth, up from 45.5 percent in 2001.

"So far, the Trump presidency has seen businesses flourish and employment grow, though the ongoing supportive role played by the Federal Reserve has undoubtedly played a part here as well, and wealth inequality remains a prominent issue," said Michael O'Sullivan, chief investment officer for International Wealth Management at Credit Suisse. "Looking ahead, however, high market valuations and property prices may curb the pace of growth in future years."

The world's millionaires are expected to do the best in the coming years. There are now 36 million millionaires in the world, and their numbers are expected to grow to 44 million by 2022.

The U.S. still leads the world in millionaires, with 15.3 million people worth $1 million or more.

Japan ranks second with 2.7 million millionaires, while the U.K. ranks third with 2.2 million. China ranks fifth with 1.9 million millionaires, but its millionaire population is expected to hit 2.8 million by 2022.

Robert Frank CNBC Reporter and Editor

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Re: The Official ZS DEBTSQUAD: BODY COUNT thread.

Post by shrimpwd » Thu Nov 23, 2017 3:30 am

I paid off my credit card last week. Definitely happy about that, though I use it regularly for weekly purchases. I had built up some debt over the year when I purchased a washer and dryer, and a few other necessities.

I like making purchases with it for things I need, as long as I can afford to do so.

Since it's been a while, I also purchased a house and car. Car is fully paid for, and the house is quickly approaching the same point. (eta 5.5 years?)

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Re: The Official ZS DEBTSQUAD: BODY COUNT thread.

Post by MPMalloy » Mon Apr 09, 2018 9:23 pm

I made the final payment on my loan from the VA. I will now have an extra $120.00/mo in the budget! :clap:

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Re: The Official ZS DEBTSQUAD: BODY COUNT thread.

Post by Beowolf » Mon Apr 09, 2018 9:32 pm

In the past week, I finally paid off a root canal from two years ago and my 2016 Virginia income tax bill. Little steps to recovery.
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Re: The Official ZS DEBTSQUAD: BODY COUNT thread.

Post by MPMalloy » Mon Apr 09, 2018 9:36 pm

Beowolf wrote:In the past week, I finally paid off a root canal from two years ago and my 2016 Virginia income tax bill. Little steps to recovery.
That is how it is done. Congrats! :D

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Re: The Official ZS DEBTSQUAD: BODY COUNT thread.

Post by Ellywick » Tue Apr 10, 2018 4:34 am

Congrats, guys! Working to try and finally pay off some medical bills. Close on one. It will happen sometime.
"When you can't run, you crawl, and when you can't crawl..." "You find someone to carry you."

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Re: The Official ZS DEBTSQUAD: BODY COUNT thread.

Post by MPMalloy » Tue Apr 10, 2018 5:22 am

Ellywick wrote:Congrats, guys! Working to try and finally pay off some medical bills. Close on one. It will happen sometime.
Keep on keepin' on! How have you been?

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Re: The Official ZS DEBTSQUAD: BODY COUNT thread.

Post by Asymetryczna » Tue Apr 10, 2018 6:34 am

absinthe beginner wrote:Debt is slavery.
The new slavery. My grandpa always taught me not to worry about it too much since I'll depart with every penny I brought with me.
It's not what you look at that matters, it's what you see.
Henry David Thoreau

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Re: The Official ZS DEBTSQUAD: BODY COUNT thread.

Post by MPMalloy » Fri Feb 15, 2019 12:26 pm

After selling the Rugers yesterday, I paid off my LOC w/Amazon. I didn't owe as much as I thought I did. I have the accrued interest due in March, and I am done with it.

I want to close it, but it's one of my oldest accounts & I was never late. Back to Bankrate. :?

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Re: The Official ZS DEBTSQUAD: BODY COUNT thread.

Post by MPMalloy » Sat Jun 08, 2019 11:19 pm

On Minimalism: 21 Surprising Statistics That Reveal How Much Stuff We Actually Own

Humble Dollar: Out on a Lim

I came across these today. I don't know about anyone else, but they speak to me.

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Re: The Official ZS DEBTSQUAD: BODY COUNT thread.

Post by boskone » Sun Jun 09, 2019 4:14 pm

MPMalloy wrote:
Sat Jun 08, 2019 11:19 pm
On Minimalism: 21 Surprising Statistics That Reveal How Much Stuff We Actually Own

Humble Dollar: Out on a Lim

I came across these today. I don't know about anyone else, but they speak to me.
I have to wonder if
4. While 25% of people with two-car garages don’t have room to park cars inside them and 32% only have room for one vehicle. (U.S. Department of Energy).
means quite what they think it does.

One, garages are smaller today. My grandparents' garage was far larger than mine is, and at the time (70 years ago) was a pretty moderate size. I looked at a house with an old "two car" garage that was nearly 4 times the size mine is.

Two, it's often a bitch to build workshops in the yards, even if you have room with the seemingly parsimonious lots. Used to be you needed a few permits for electrical and whatnot; now there are entire building codes to deal with. (Here, anything over 8x8 or "constructed"...and 64 sq ft doesn't go all that far if you own more than the absolute bare minimum of lawn care equipment.)

So people here generally use garages as workshops and storage sheds because they're only large enough for the very smallest vehicles anyway, and shop/storage space is needed.

Which isn't to say people don't often own too much stuff. I just don't think garages are quite as diagnostic of "over-ownership" as it is presented.

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Re: The Official ZS DEBTSQUAD: BODY COUNT thread.

Post by Halfapint » Sun Jun 09, 2019 4:35 pm

boskone wrote:
Sun Jun 09, 2019 4:14 pm
MPMalloy wrote:
Sat Jun 08, 2019 11:19 pm
On Minimalism: 21 Surprising Statistics That Reveal How Much Stuff We Actually Own

Humble Dollar: Out on a Lim

I came across these today. I don't know about anyone else, but they speak to me.
I have to wonder if
4. While 25% of people with two-car garages don’t have room to park cars inside them and 32% only have room for one vehicle. (U.S. Department of Energy).
means quite what they think it does.

One, garages are smaller today. My grandparents' garage was far larger than mine is, and at the time (70 years ago) was a pretty moderate size. I looked at a house with an old "two car" garage that was nearly 4 times the size mine is.

Two, it's often a bitch to build workshops in the yards, even if you have room with the seemingly parsimonious lots. Used to be you needed a few permits for electrical and whatnot; now there are entire building codes to deal with. (Here, anything over 8x8 or "constructed"...and 64 sq ft doesn't go all that far if you own more than the absolute bare minimum of lawn care equipment.)

So people here generally use garages as workshops and storage sheds because they're only large enough for the very smallest vehicles anyway, and shop/storage space is needed.

Which isn't to say people don't often own too much stuff. I just don't think garages are quite as diagnostic of "over-ownership" as it is presented.
I would agree with this, cars used to be giant boats and needed more room to be parked over even SUV's today. So I think the presumption is flawed for the reasons you describe. But I think over ownership of "stuff" is very real. I drive about 10 miles each way for work along a 4 lane road. In that 10 miles there are 4 or 5 new storage places opening up. I think storage units per capita would be a good measurement of how much junk we own.
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Re: The Official ZS DEBTSQUAD: BODY COUNT thread.

Post by RoneKiln » Sat Jul 27, 2019 8:28 pm

I did a quick google search cause it's been a while since I researched it, but on average across the US, garage sizes have significantly expanded in size the last few generations.

The space per car has been very consistent over time, but the number of cars garages are built to hold has increased. So on average, Americans have far more storage space then previous generations, and are still filling that space with unnecessary junk. I've been reading and listening to a lot of podcasts the last year on finance, minimalism, etc. I also have a bookshelf full of architecture and construction books. On average, people in the US are exceptionally wasteful and far more of our budget is discretionary than we realize.

Of course, there are still a LOT of legitimately poor people that don't have enough money no matter how careful and intelligent they are with money. I don't want those people kicked while they're down. There's also even more people that really don't understand how they spend their money and are deep in debt due to foolishness and not uncontrollable economic factors. I don't want those people kicked either. I want them encouraged that they can take control and can make huge changes for the better.

I know people in my area literally making twice what I do, have a spouse making equal or more than I do, and they still live paycheck to paycheck. Meanwhile, I make roughly the national median income, live in an area where housing is far higher than the national median (almost double), and I still pay triple on the principal of my mortgage, have no other debt (which was not the case when this thread was first started), put near 30% of my income to retirement, and have enough in savings to live off for a year. Most Americans really waste money. Admittedly, I have no kids and that gives me an insanely unfair advantage. But I don't come from money either. I literally grew up in a trailer park cause it was all we could afford.

Anyone reading this thread and fighting debt: YOU CAN DO IT! You can live simply yet still fully, pay off debt, build net worth, and live feeling more stable and secure. You can still have full, rich lives doing outdoor activities, inviting friends over for dinner and boardgame nights, joining all sorts of social groups, and a whole ton of other incredibly low cost social activities that don't involve blowing money.

We should probably start a financial independence or investing thread as well. I only learned how an IRA works last year. I am PISSED nobody ever mentioned that to me before. I could be far better prepped for all sorts of things if 20 years ago I had known how IRAs and low cost market funds worked.
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