Can you save $2000 in 4 weeks? (1 Viewer)

[Da Guru]

Since my home has been paid off yes. Can do it every 4 weeks now.

We paid our home off in 11 years instead of 15. Some of my finance buddies said I should not have and they were correct financially in some ways..but you can`t put a price tag on the peace of mind we have now without a mortgage. Plus we have saved and or invested the 25K a year that we were paying on our home in case we were ever put into an emergency situation.

I volunteer once a month in Detroit where the feed and provide for homeless people. Like Bobby said above some of the stories are just bad luck. One guy who I became close to talking sports said to me "I don`t belong here...everything was good and in an instant everything seemed taken away from me"

The guy worked for an auto supplier 50-60 hours a week making a good living, had a nice home, wife and kids.  Was in a motorcycle accident that laid him up for over 2 years and he still limps bad..ended up losing his job, wife leaves him, loses his home as he was swamped with unpaid bills. 

Next thing you know I am on the street he tells me and everything I worked so hard for is gone. Starting over at 50 with nothing is very difficult. Most of these people come from families who do not have the means to help them so they are stuck.

 

[The General]

This is one of the most pressing issues that nobody talks about. There's a huge chunk of the population that is going to be eating cat food and living in cardboard box.

I don't see how this is going to work.

 

[-OZ-]

You can't put a monetary value on one parent staying home . I believe you get back much more than you would've earned.

Completely agreed, although she is starting to sub next week and will probably sub one or two times a week next year.  She's been a stay at home mom for 14 years now, almost makes me cringe when we think of the salary we've given up but it's been worth it for the kids sake.  

 

[Juxtatarot]

This is one of the most pressing issues that nobody talks about. There's a huge chunk of the population that is going to be eating cat food and living in cardboard box.

I don't see how this is going to work.

Many will move into their kids' basements.

 

[BobbyLayne]

Since my home has been paid off yes. Can do it every 4 weeks now.

We paid our home off in 11 years instead of 15. Some of my finance buddies said I should not have and they were correct financially in some ways..but you can`t put a price tag on the peace of mind we have now without a mortgage. Plus we have saved and or invested the 25K a year that we were paying on our home in case we were ever put into an emergency situation.

I volunteer once a month in Detroit where the feed and provide for homeless people. Like Bobby said above some of the stories are just bad luck. One guy who I became close to talking sports said to me "I don`t belong here...everything was good and in an instant everything seemed taken away from me"

The guy worked for an auto supplier 50-60 hours a week making a good living, had a nice home, wife and kids.  Was in a motorcycle accident that laid him up for over 2 years and he still limps bad..ended up losing his job, wife leaves him, loses his home as he was swamped with unpaid bills. 

Next thing you know I am on the street he tells me and everything I worked so hard for is gone. Starting over at 50 with nothing is very difficult. Most of these people come from families who do not have the means to help them so they are stuck.

Yeah, brother, and let's face it - for the majority *(maybe even vast majority) of folks posting on this board, it would never come to that. Parents, siblings, well off friends, local church....I mean somebody would step up and be the safety net for us if we got into that kind of situation. At least I hope that would hypothetically happen. If not fix the problems, at least ameliorate to the extent we wouldn't end up on the street.

But man....I got guys in my church with good jobs and pretty solid life, but as I get to know them I find out they never knew their dad. Or their mom has been in and out of rehab. Or they're the only one who made it through college and they're helping ne'er-do-well siblings. I realize that a lot of people don't have multiple levels of unseen and never utilized support that would gird them up if something bad happened.