Comments on: Does America Need to Wake Up Financially? http://www.lazymanandmoney.com/does-america-need-to-wake-up-financially/ Saving, Earning, and Investing Money Sat, 11 Feb 2012 03:58:23 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Sara at On Simplicity http://www.lazymanandmoney.com/does-america-need-to-wake-up-financially/comment-page-1/#comment-92379 Sara at On Simplicity Sun, 13 Jul 2008 19:17:24 +0000 http://www.lazymanandmoney.com/does-america-need-to-wake-up-financially/#comment-92379 The examples newspapers offer in these types of articles are always so underwhelming to me. The headline screams doom and destruction, and the example is someone is having to clip a coupon, give up a croissant once a week, or not buy mega-premium dog treats. It seems like a disservice to the stories themselves and to the people who are really struggling to save every dollar to focus on such minor "problems." The examples newspapers offer in these types of articles are always so underwhelming to me. The headline screams doom and destruction, and the example is someone is having to clip a coupon, give up a croissant once a week, or not buy mega-premium dog treats. It seems like a disservice to the stories themselves and to the people who are really struggling to save every dollar to focus on such minor “problems.”

]]> By: Lazy Man http://www.lazymanandmoney.com/does-america-need-to-wake-up-financially/comment-page-1/#comment-92200 Lazy Man Sat, 12 Jul 2008 10:30:30 +0000 http://www.lazymanandmoney.com/does-america-need-to-wake-up-financially/#comment-92200 I think they weren't using coupons, store circulars, or any cost-cutting methods. Pick up some nice steaks and cheeses and maybe it can get to $1600 a month if you aren't looking to save. I think they weren’t using coupons, store circulars, or any cost-cutting methods. Pick up some nice steaks and cheeses and maybe it can get to $1600 a month if you aren’t looking to save.

]]> By: Amanda http://www.lazymanandmoney.com/does-america-need-to-wake-up-financially/comment-page-1/#comment-92190 Amanda Sat, 12 Jul 2008 06:40:51 +0000 http://www.lazymanandmoney.com/does-america-need-to-wake-up-financially/#comment-92190 I should add that the aforemtioned accounting is for two people per week. I'm sure you could do much better non-organic, but when your body knows 'good' from 'bad' it's hard to go back to the regular nasty! I should add that the aforemtioned accounting is for two people per week. I’m sure you could do much better non-organic, but when your body knows ‘good’ from ‘bad’ it’s hard to go back to the regular nasty!

]]> By: Amanda http://www.lazymanandmoney.com/does-america-need-to-wake-up-financially/comment-page-1/#comment-92189 Amanda Sat, 12 Jul 2008 06:38:09 +0000 http://www.lazymanandmoney.com/does-america-need-to-wake-up-financially/#comment-92189 I hate to pick at someone else's life, but I guess I will anyway: how on earth do you spend $1600/month on a family of five's grocery bills?! We eat about 75% organic, down from 100%, and I now carefully spend max $100/week. On a stock up month, I could go $200 on a Whole Foods stock-up trip that lasts at least 3 months--also cutting out that particular week's trip. (And belive me, coupons & store circulars are flying in the process!) Perhaps food diaries are in order here? I hate to pick at someone else’s life, but I guess I will anyway: how on earth do you spend $1600/month on a family of five’s grocery bills?!
We eat about 75% organic, down from 100%, and I now carefully spend max $100/week. On a stock up month, I could go $200 on a Whole Foods stock-up trip that lasts at least 3 months–also cutting out that particular week’s trip. (And belive me, coupons & store circulars are flying in the process!)
Perhaps food diaries are in order here?

]]> By: deepali http://www.lazymanandmoney.com/does-america-need-to-wake-up-financially/comment-page-1/#comment-92155 deepali Fri, 11 Jul 2008 22:00:24 +0000 http://www.lazymanandmoney.com/does-america-need-to-wake-up-financially/#comment-92155 Or perhaps how much they spend on fuel and food that they don't have anything left to spend on other things. Until we spend so much on basics that we can't afford the TVs, additional cars, and other extras, I don't think we have too much to worry about. Or perhaps how much they spend on fuel and food that they don’t have anything left to spend on other things.
Until we spend so much on basics that we can’t afford the TVs, additional cars, and other extras, I don’t think we have too much to worry about.

]]> By: Lazy Man http://www.lazymanandmoney.com/does-america-need-to-wake-up-financially/comment-page-1/#comment-92153 Lazy Man Fri, 11 Jul 2008 21:36:55 +0000 http://www.lazymanandmoney.com/does-america-need-to-wake-up-financially/#comment-92153 I think this reflects how little some countries have to spend on things other than food and fuel. I think this reflects how little some countries have to spend on things other than food and fuel.

]]> By: deepali http://www.lazymanandmoney.com/does-america-need-to-wake-up-financially/comment-page-1/#comment-92152 deepali Fri, 11 Jul 2008 21:28:09 +0000 http://www.lazymanandmoney.com/does-america-need-to-wake-up-financially/#comment-92152 How about a little perspective: http://www.economist.com/daily/chartgallery/PrinterFriendly.cfm?story_id=11693372 I am about to head to one of those red countries for ~10 months, with a 75% pay cut. Maybe I'll start noticing how tight my budget is then. :) How about a little perspective:
http://www.economist.com/daily/chartgallery/PrinterFriendly.cfm?story_id=11693372

I am about to head to one of those red countries for ~10 months, with a 75% pay cut. Maybe I’ll start noticing how tight my budget is then. :)

]]> By: Tim http://www.lazymanandmoney.com/does-america-need-to-wake-up-financially/comment-page-1/#comment-92120 Tim Fri, 11 Jul 2008 16:21:04 +0000 http://www.lazymanandmoney.com/does-america-need-to-wake-up-financially/#comment-92120 what everyone fails to realize that if the u.s. slows so will the rest of the world, and relative economies, i'd much rather have a correction here than abroad. go u.s.a, and everyone stop feeling so gloomy...at least turn off the tv. what everyone fails to realize that if the u.s. slows so will the rest of the world, and relative economies, i’d much rather have a correction here than abroad. go u.s.a, and everyone stop feeling so gloomy…at least turn off the tv.

]]> By: JD http://www.lazymanandmoney.com/does-america-need-to-wake-up-financially/comment-page-1/#comment-91932 JD Thu, 10 Jul 2008 19:36:00 +0000 http://www.lazymanandmoney.com/does-america-need-to-wake-up-financially/#comment-91932 Oil will likely come down a little over the next year but nowhere close to where it was back in the 1990s and early part of this decade. Food prices will also remain higher for the long term. But these are not the bigger issues, they are of course important for the average lower income or even many middle income families but they don't nearly amount to as much in dollar terms as the consumption cuts that will have to come from tighter credit. Commodity prices can come down, the dollar can strengthen - in fact both of these things will likely happen when the next administration comes into office and that will ease some of the burden. But tighter credit is going to stay here for a LOOOONG time. We are still not halfway through the credit crisis, it is effecting all types of loan structures, not just mortgages. People who were using credit cards to get by are going to have to lower their consumption drastically. The fact is the average American does not earn that much money, in fact their real income has fallen over the last 8 years - this has only happened once before in our nation's history and it was during the Depression. The things that used to be "status symbols" no longer are because easy credit made them affordable to everyone. For instance owning a BMW or Mercedes doesn't mean anything anymore because you can even get a loan for high-end one and meet the monthly costs on an average income. But you never build up any real wealth. The same goes for housing, furniture, vacations, boats, and so on. Credit cards and easy loans had made everything easy to obtain. A lot of those people are getting squeezed now and it will only get worse and more widespread. Enough of the bling bling attitude. Oil will likely come down a little over the next year but nowhere close to where it was back in the 1990s and early part of this decade. Food prices will also remain higher for the long term. But these are not the bigger issues, they are of course important for the average lower income or even many middle income families but they don’t nearly amount to as much in dollar terms as the consumption cuts that will have to come from tighter credit. Commodity prices can come down, the dollar can strengthen – in fact both of these things will likely happen when the next administration comes into office and that will ease some of the burden. But tighter credit is going to stay here for a LOOOONG time. We are still not halfway through the credit crisis, it is effecting all types of loan structures, not just mortgages. People who were using credit cards to get by are going to have to lower their consumption drastically. The fact is the average American does not earn that much money, in fact their real income has fallen over the last 8 years – this has only happened once before in our nation’s history and it was during the Depression. The things that used to be “status symbols” no longer are because easy credit made them affordable to everyone. For instance owning a BMW or Mercedes doesn’t mean anything anymore because you can even get a loan for high-end one and meet the monthly costs on an average income. But you never build up any real wealth. The same goes for housing, furniture, vacations, boats, and so on. Credit cards and easy loans had made everything easy to obtain. A lot of those people are getting squeezed now and it will only get worse and more widespread. Enough of the bling bling attitude.

]]> By: L@spillingbuckets http://www.lazymanandmoney.com/does-america-need-to-wake-up-financially/comment-page-1/#comment-91886 L@spillingbuckets Thu, 10 Jul 2008 14:13:25 +0000 http://www.lazymanandmoney.com/does-america-need-to-wake-up-financially/#comment-91886 I enjoy PB and J sandwiches and normally bring them, or a simple turkey for lunch. Nothing wrong with that, and I don't consider it a sacrifice. (actually eating one now for lunch) ;-) Also - whipping up meals with what's in your fridge... Isn't that a good thing so food doesn't go bad? I don't see a problem with any of the reactions you posted/the article mentioned other than a $1600 food bill being insanely high even for a family. I enjoy PB and J sandwiches and normally bring them, or a simple turkey for lunch. Nothing wrong with that, and I don’t consider it a sacrifice. (actually eating one now for lunch) ;-)

Also – whipping up meals with what’s in your fridge… Isn’t that a good thing so food doesn’t go bad?

I don’t see a problem with any of the reactions you posted/the article mentioned other than a $1600 food bill being insanely high even for a family.

]]> By: Lazy Man http://www.lazymanandmoney.com/does-america-need-to-wake-up-financially/comment-page-1/#comment-91834 Lazy Man Thu, 10 Jul 2008 05:03:23 +0000 http://www.lazymanandmoney.com/does-america-need-to-wake-up-financially/#comment-91834 Well, adjustable mortgages through the roof... hence the foreclosures. Well, adjustable mortgages through the roof… hence the foreclosures.

]]> By: Jim http://www.lazymanandmoney.com/does-america-need-to-wake-up-financially/comment-page-1/#comment-91825 Jim Wed, 09 Jul 2008 23:37:28 +0000 http://www.lazymanandmoney.com/does-america-need-to-wake-up-financially/#comment-91825 "Home prices through the roof." Was that a mistake? Home prices have been dropping and are down to 2005 levels now. Jim “Home prices through the roof.”

Was that a mistake? Home prices have been dropping and are down to 2005 levels now.

Jim

]]> By: Brip Blap http://www.lazymanandmoney.com/does-america-need-to-wake-up-financially/comment-page-1/#comment-91823 Brip Blap Wed, 09 Jul 2008 23:19:29 +0000 http://www.lazymanandmoney.com/does-america-need-to-wake-up-financially/#comment-91823 As someone with a "higher" income I will admit that I don't care too much - yet- about higher gas prices. Higher food prices are making me pause a bit, but I've always been willing to pay a premium for certain foods - for example, organic dairy. At the same time, I was wondering with my family how high the price of gas would have to go before we started really curtailing or combining our trips out. I concluded that here in the Northeast, where distances are short (NYC is 3 miles from "coast" to "coast" after all) it would have to get much higher. Now, if I lived in St. Louis and had to drive roundtrip 40 miles to work I'd notice it already. But it is interesting - I still look at the economy in terms of "how does this affect my investment portfolio" and not "how can I afford milk this week". I can't come to any conclusion except what Michael said - we all have to make more money. The market and our short-sighted government are driving prices up, so there's no way to hope for help from someone else. Figure out how to get more. I constantly am. As someone with a “higher” income I will admit that I don’t care too much – yet- about higher gas prices. Higher food prices are making me pause a bit, but I’ve always been willing to pay a premium for certain foods – for example, organic dairy. At the same time, I was wondering with my family how high the price of gas would have to go before we started really curtailing or combining our trips out. I concluded that here in the Northeast, where distances are short (NYC is 3 miles from “coast” to “coast” after all) it would have to get much higher. Now, if I lived in St. Louis and had to drive roundtrip 40 miles to work I’d notice it already.

But it is interesting – I still look at the economy in terms of “how does this affect my investment portfolio” and not “how can I afford milk this week”. I can’t come to any conclusion except what Michael said – we all have to make more money. The market and our short-sighted government are driving prices up, so there’s no way to hope for help from someone else. Figure out how to get more. I constantly am.

]]> By: Michael http://www.lazymanandmoney.com/does-america-need-to-wake-up-financially/comment-page-1/#comment-91817 Michael Wed, 09 Jul 2008 21:51:04 +0000 http://www.lazymanandmoney.com/does-america-need-to-wake-up-financially/#comment-91817 I don't look at prices when I shop for food. When the weather is uncomfortable, I turn on the A/C. When a friend is in town, I get in my car and drive over to pay a visit. As Lazy Man and Ben Stein noted, a period of high inflation does not affect those with higher incomes. So the solution is simple. Make more money. I don’t look at prices when I shop for food. When the weather is uncomfortable, I turn on the A/C. When a friend is in town, I get in my car and drive over to pay a visit.

As Lazy Man and Ben Stein noted, a period of high inflation does not affect those with higher incomes.

So the solution is simple. Make more money.

]]> By: Ryan http://www.lazymanandmoney.com/does-america-need-to-wake-up-financially/comment-page-1/#comment-91804 Ryan Wed, 09 Jul 2008 17:48:41 +0000 http://www.lazymanandmoney.com/does-america-need-to-wake-up-financially/#comment-91804 Amen Jeremy! Amen Jeremy!

]]> By: Jeremy http://www.lazymanandmoney.com/does-america-need-to-wake-up-financially/comment-page-1/#comment-91797 Jeremy Wed, 09 Jul 2008 16:38:14 +0000 http://www.lazymanandmoney.com/does-america-need-to-wake-up-financially/#comment-91797 Mainstream American has been living high on the hog for too long. It always baffles me to see people in stories like this complain about having to do things like eat a PB&J for lunch of *gasp*, eat leftovers! Come on now, if having a sandwich for lunch, eating leftovers instead of throwing excess food away, or actually paying attention to what you buy in the grocery store is reducing your quality of life, then you've been living beyond your means for too long and you should just shut the hell up. If people weren't carelessly throwing money away on food they didn't need for all these years, we'd all be healthier, both around the waistline and financially. Mainstream American has been living high on the hog for too long. It always baffles me to see people in stories like this complain about having to do things like eat a PB&J for lunch of *gasp*, eat leftovers!

Come on now, if having a sandwich for lunch, eating leftovers instead of throwing excess food away, or actually paying attention to what you buy in the grocery store is reducing your quality of life, then you’ve been living beyond your means for too long and you should just shut the hell up.

If people weren’t carelessly throwing money away on food they didn’t need for all these years, we’d all be healthier, both around the waistline and financially.

]]> By: Bob http://www.lazymanandmoney.com/does-america-need-to-wake-up-financially/comment-page-1/#comment-91789 Bob Wed, 09 Jul 2008 15:34:27 +0000 http://www.lazymanandmoney.com/does-america-need-to-wake-up-financially/#comment-91789 I just got my electric bill and it is $400! It's NEVER been that high, yikes! I just got my electric bill and it is $400! It’s NEVER been that high, yikes!

]]>