"I Don't Have The Money"

[Kathianne]

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[chloe]

there is a book out that makes that point called Predictably Irrational by Dan Ariely. I bought it to give to my ex husband, because he is so bad with money, he's an attorney and Always broke ! I am at a poverty level and have no debt.

Do you know why we sometimes find ourselves excitedly buying things we don’t really need?

Do you know why we still have a headache after taking a five-cent aspirin, but why that same headache vanishes when the aspirin costs 50 cents?

Do you know why people who have been asked to recall the Ten Commandments tend to be more honest (at least immediately afterward) than those who haven’t? Or why honor codes actually do reduce dishonesty in the workplace?

By the end of this book, you’ll know the answers to these and many other questions that have implications for your personal life, for your business life, and for the way you look at the world. As a bonus you will also learn how much fun social science can be, and how to see more clearly the causes for our everyday behaviors, including the many cases in which we are predictably irrational.

Dan Ariely is the Alfred P. Sloan Professor of Behavioral Economics at MIT, where he holds a joint appointment between MIT's Media Laboratory and the Sloan School of Management. He is also a researcher at the Federal Reserve Bank of Boston and a visiting professor at Duke University. Ariely wrote this book while he was a fellow at the Institute for Advance Study at Princeton. His work has been featured in leading scholarly journals and a variety of popular media outlets, including the New York Times, the Wall Street Journal, the Washington Post, the Boston Globe, Scientific American, and Science. Ariely has appeared on CNN and National Public Radio. He divides his time between Durham, North Carolina, Cambridge, Massachusetts, and the rest of the world.

[Mr. P]

OMG K, that is exactly like 90% of the people I deal with daily..It's true I promise. Sad but true.

[MtnBiker]

Hey, but rich people have money. People who don't have money obviously do not have it because all of the rich people have the money. So, Obama will take some money from the rich people so the people who do not have money can buy stuff.

[Mr. P]

Hey, but rich people have money. People who don't have money obviously do not have it because all of the rich people have the money. So, Obama will take some money from the rich people so the people who do not have money can buy stuff.

And example of what I get on a pretty regular basis...

Today a guy calls..Combined family (husband & Wife) income $110,000.
Credit card debt $60,000. They have one child.

[Trinity]

And example of what I get on a pretty regular basis...

Today a guy calls..Combined family (husband & Wife) income $110,000.
Credit card debt $60,000. They have one child.

I know many people like that, quite sad really......My mom and step dad for instance, just filed bankruptcy again for the third time in 30 years, although this is my mother's fourth time.

I myself have absolutely no credit card debt, no car loans, matter of fact I have no debt what so ever, if I don't have the cash to pay for it, I don't buy it till I do.

It's actually quite simple, we are a family of four and we manage to live quite nicely on $28,000.00 a year. The only bills I have each month, rent, electric, satellite, internet and phone, insurance, and cell phone.

I don't work at all, because I am in school full time. My kids have xbox and xbox live accounts, computers, we have a 52 inch TV in the living room, I own two vehicles that we bought with cash. All of the furniture we own has been purchased new over the past 4 years, I started over after my divorce.

Both boy's have 19in TV's in their rooms with satellite. The boy's wear nothing but name brand clothes and shoes, AE, Abercrombie, Vans, Polo. (They are teens)

My husband just started up his own landscaping company on $500.00 a couple of months ago, we now have about $1500.00 invested in the company cash of course no credit.

How can we afford to do this? It's called spending your money wisely, and shopping for sales and the best prices, and always paying cash. :cool:

[red states rule]

Now if only Obama, Reid, Pelosi, and the current Republican leadership, would take this course and learn from it

[MtnBiker]

And example of what I get on a pretty regular basis...

Today a guy calls..Combined family (husband & Wife) income $110,000.
Credit card debt $60,000. They have one child.

Crazy, and what do they have to show for that 60,000 debt, probably not much.

[avatar4321]

I enjoyed the video. Oddly enough that is a foreign concept to alot of people.

I am trying to get out of my debt. Its not easy when I make absolutely no money. All my debt is in student loans and car payments. If I could, id pay them off today. Unfortunately until I get a better job, Im probably going to be in debt for a while. Luckily my current job is good experience for future jobs.

I just wish the wait was over. Because the day I can free myself from bondage, Im going to.

[Monkeybone]

I enjoyed the video. Oddly enough that is a foreign concept to alot of people.

I am trying to get out of my debt. Its not easy when I make absolutely no money. All my debt is in student loans and car payments. If I could, id pay them off today. Unfortunately until I get a better job, Im probably going to be in debt for a while. Luckily my current job is good experience for future jobs.

I just wish the wait was over. Because the day I can free myself from bondage, Im going to.

to me that kinda debt is understandable Av. you at least can do something/show something for that debt.

take my sis and bro-in-law. They lived off of school loans and he just grad'd this year after 6 years. is he a doc or anything? nope...communications. he is a camera for a local News station. Sis? nope, still if "school". They bought a brand new car that they hate, cuz of the payments. They never have any money for anything but they have a new PS3 and Xbox 360 with games to go with. and TV all of a sudden. derrrrr. I have currently stopped feeling sorry for their money issues.

[avatar4321]

to me that kinda debt is understandable Av. you at least can do something/show something for that debt.

take my sis and bro-in-law. They lived off of school loans and he just grad'd this year after 6 years. is he a doc or anything? nope...communications. he is a camera for a local News station. Sis? nope, still if "school". They bought a brand new car that they hate, cuz of the payments. They never have any money for anything but they have a new PS3 and Xbox 360 with games to go with. and TV all of a sudden. derrrrr. I have currently stopped feeling sorry for their money issues.

I know that kind of debt is understandable. But that doesnt mean I want to be in debt at all.

[Trinity]

I enjoyed the video. Oddly enough that is a foreign concept to alot of people.

I am trying to get out of my debt. Its not easy when I make absolutely no money. All my debt is in student loans and car payments. If I could, id pay them off today. Unfortunately until I get a better job, Im probably going to be in debt for a while. Luckily my current job is good experience for future jobs.

I just wish the wait was over. Because the day I can free myself from bondage, Im going to.

Don't feel bad. I have no debt at this time, however when I am finished with school, those student loans will catch up to me. But hopefully I will be making 45,000.00 to 65,000.00 a year by then and can pay them off quickly.

[Abbey Marie]

Tried to rep you, Kath... :thumb:

[Binky]

I know many people like that, quite sad really......My mom and step dad for instance, just filed bankruptcy again for the third time in 30 years, although this is my mother's fourth time.

I myself have absolutely no credit card debt, no car loans, matter of fact I have no debt what so ever, if I don't have the cash to pay for it, I don't buy it till I do.

It's actually quite simple, we are a family of four and we manage to live quite nicely on $28,000.00 a year. The only bills I have each month, rent, electric, satellite, internet and phone, insurance, and cell phone.

I don't work at all, because I am in school full time. My kids have xbox and xbox live accounts, computers, we have a 52 inch TV in the living room, I own two vehicles that we bought with cash. All of the furniture we own has been purchased new over the past 4 years, I started over after my divorce.

Both boy's have 19in TV's in their rooms with satellite. The boy's wear nothing but name brand clothes and shoes, AE, Abercrombie, Vans, Polo. (They are teens)

My husband just started up his own landscaping company on $500.00 a couple of months ago, we now have about $1500.00 invested in the company cash of course no credit.

How can we afford to do this? It's called spending your money wisely, and shopping for sales and the best prices, and always paying cash. :cool:


There really is no reason why one should be bogged down with credit card debt other than greediness. It's a matter of not spending and only buying when you've saved up for something. We do not have credit cards of any kind. Zip, nada, not..... if one has trouble controlling his/her spending then using a credit card is asking for serious trouble. We own our house, but a modest one. We only owe $50,000 on it. I mean, does anyone really need a mansion type home that will set you back a half a mil or more? However, we do have two cars. One is almost paid for while the other is a lease but we're getting rid of it when the lease comes due. When you've lived with nothing you learn to manage and end up with something for your efforts and struggles in the long run. You also take advantage of layaway programs which allow you the ability to buy new items over a short period of time. So long as you don't make the monetary value so high you can't get the items out, you should do fine. There is always rent to own stores, but I don't advise anyone to use them. They don't charge interest. However, they do charge other fees and when not paid asap, they will come out and snap up your prized junk. It's always better to save up and then buy. It comes easier for those that have patience and can wait. Remember, good things come to those that wait. And wait. And wait some more. Don't rush into letting go of your hard earned money. By the time you've saved up enough to get the prize, you may have changed your mind and decided you didn't really want it after all.

[Trinity]

There really is no reason why one should be bogged down with credit card debt other than greediness. It's a matter of not spending and only buying when you've saved up for something. We do not have credit cards of any kind. Zip, nada, not..... if one has trouble controlling his/her spending then using a credit card is asking for serious trouble. We own our house, but a modest one. We only owe $50,000 on it. I mean, does anyone really need a mansion type home that will set you back a half a mil or more? However, we do have two cars. One is almost paid for while the other is a lease but we're getting rid of it when the lease comes due. When you've lived with nothing you learn to manage and end up with something for your efforts and struggles in the long run. You also take advantage of layaway programs which allow you the ability to buy new items over a short period of time. So long as you don't make the monetary value so high you can't get the items out, you should do fine. There is always rent to own stores, but I don't advise anyone to use them. They don't charge interest. However, they do charge other fees and when not paid asap, they will come out and snap up your prized junk. It's always better to save up and then buy. It comes easier for those that have patience and can wait. Remember, good things come to those that wait. And wait. And wait some more. Don't rush into letting go of your hard earned money. By the time you've saved up enough to get the prize, you may have changed your mind and decided you didn't really want it after all.

Amen....

That is why I have not looked into buying a house just yet. I currently have a four bedroom house which is pretty darn big. But I also have two boy's who will be going off to college in 5-7 years. A 4 bedroom house would be entirely to big for my husband and I once they leave and then who knows I may leave the state as well.

I actually have it made, with the house I rent. I can paint with any colors I want, and decorate anyway I want, and the land lord pays for it. I have done a ton of landscaping (pond,flowers,trees) and the land lord pays for it too. And if anything breaks or goes wrong he fixes that as well.

I just re did my boy's bedrooms from young boy to a more teen boy look. I will put up some pics after I get batteries for my camera. They turned out really well, even though my youngest insisted on an all black room.