Jun 30
Compared to other 27 year olds, do you think I have an outrageous amount of credit card debt?
I live at home. I do not have a car payment. I have no idea where my money has been going. Anyway, what % of my paycheck should go to these credit cards?
PEZ
The majority of U.S. Citizens upside-down in their mortgages are more likely to see value in making payments rather than just giving their house keys to the bank and vacating, which will wash-out home values, equity, and personal wealth in our Nation with catastrophic effect. This will allow every U.S. Citizen, in our Nations consumer economy, a long-term (30-year mortgage term!) solution to add breathing room in the upcoming years of this global economic downturn. The beneficiaries are the U.S. Citizen that then trickles up to U.S. Retailers, U.S. Banks, and Wall-Street.
This provides relief to ALL U.S. Citizens, even Us that made conservative decisions knowing what we could afford, while also restructuring recent mortgages of those duped by the greedy practices of this decade. The majority of mortgages will still get paid, banks can maintain cash flow, homeowner mortgage vs. home value evens, right-sides up, or equity is built. If the U.S. Citizen losses their house it’s a good bet they will walk away from Credit Card debt and any other outstanding loans. Then what will happen to the Financial industry and all the $400billion in tax-payer money that’s already been handed to them to do with as they please?
This isn’t about the American public seeing immediate benefit (i.e. one-time stimulus check), but as a longer term (~30 year mortgage term!) solution to stimulating our consumer (~62%!) economy. It also shows that Government is supporting real people, not just big business. I think if You do the math You will find that the cost of writing these loans, which is consumed by the leftover ~$300Billion Bush Administration bail-out plus President Elect Obama’s $825B stimulus package, doesn’t compare to the cost to Financial institutions, and the U.S. Tax-payer swallowing ~10% (or greater) National home foreclosures. What will Financial institutions do with all these assumed homes and property that are now worth 30-50% less than their original cost to them? Will Government, I mean the U.S. Tax-Payer, buy them? Restoring consumer confidence is what the focus is here. How does getting 9 financial institutions to start loaning money to ultra qualified people that don’t need a loan, compare to ~130,000,000 homeowners across 50 states having a few hundred extra dollars a month, for the next 30 years, to do with how they see fit?
Excellent response Jeff T, but if the U.S. is trying to support homeonwnership, which is a massive staple of our 62% consumer economy, when the next avalanche of foreclosures hit what will happen to personal wealth in all classes in the U.S. Remember the original question dealt with if the Government couldn’t do nothing, would it have been better to give the money back to the people in the form of refinanced 20% decreased mortgages very low interest rates so 10’s of millions of families would opt to keep paying their mortgages (and other debta) rather than just walk away to let the remaining tax paying nation to bail them out. And then what about after the next wave, then the next? As foreclosed homes flood the market and the nations wealth is swept away, and more an more credit is lost, and more and more banks board their doors, who will be left to bail them out? How can this chain of events be stopped? We must bring more minds to the table to discuss this!
Jun 30
Now before you make any harsh judgments on him, he is relatively a nice guy. He is not stingy with money, always pays for our nights out etc. $50 is nothing compared to how much he’s spent on me but like I said there’s a principle behind it. I can’t stand irresponsible guys. I’ve had guys in the past tell me they would pay me back for expenses they were responsible for only to end up getting screwed. How should i ask for it back? Or am I being too anal and should just give him a break?
Don’t misunderstand… I guess it’s from past experience with men who have taken advantage of me. That is where all this is stemming from. Read again, I explained it towards the end.
I will choose a best answer and dish out points whenever possible
Alright so basically, my ex-girlfriend and I broke up like 3 months ago because she said that she needed time to “grow up”. Basically, we decided to still be friends because we really still like each other and get along great. However, I am still very much in love with her.
The problem is that lately I’ve been feeling really down around my ex and kind of jealous and I don’t know why. She’s basically perfect at everything. She’s very attractive because a lot of guys flirt with her, wears size 00 pants, exercises constantly, her parents are wealthier than mine as she lives in a half a million dollar house and her dad retired at the age of 48, she always gets whatever she wants (material-wise) i.e. she has two pairs of Uggs, wears all Abercrombie clothing, gets the newest iPod every year, breaks her cell phone at least 3 times a year, has two pairs of Sperry type shoes, and gets Tiffany and Co. jewelry costing around $175 once a year (She gets all this stuff usually for Christmas or just because presents but she always gets whats on her list of wants), she makes friends easily, has time to join lots of clubs in college, works as a store model for Abercrombie and has a higher GPA than me while majoring in journalism, and sometimes I feel like she has all of God’s blessing even though she is extremely atheist.
However, I am the complete opposite as I always work for what I get. I’m in one of the top 10 business schools in the nation but struggle to maintain a 3.0 GPA and spend most of my time studying, I haven’t met very many people in college because I’m trying to save money by living at home with my parents (my ex lives in the dorms which her parents pay for), I spend all my free time at home, I don’t find myself as attractive because I’ve only worked for American Eagle and I am Asian, my parents want me to earn things so I have to work to pay for my clothes, cell phone, car repairs and other stuff I want unlike my ex, and lately I’ve felt like God’s deserted me even though I try to follow his teachings.
I just feel crappy to the point that I’ve been unmotivated to study and I want to sleep all day. I’ve stopped going to the gym and I have been wallowing in my own self-pity, I’m always wishing that my parents were a lot richer because my ex gets to finish college at her own pace while I’m pressured to finish in 4 while her parents can also afford to let her take summer classes to make her workload easier while I don’t have that luxury.
The only thing I feel like I have an advantage over her is that I know how to invest and save my money better than her because she can’t save her own money at all. She doesn’t even know how the basic definition of a stock or how a credit and debit card work. I am very ambitious and always look for ways to make extra money through investing and saving but I always still feel down because I know that she’ll still get ahead of me in the future because her father is already investing money for her for her retirement in the thousands already.
Despite all this I feel like God’s let me down. Why does he bless people that don’t believe in him? Should I stay away from my ex even though I still love her? She is white and we’ve known each other for 4 years and dated each other for 2 and a half years. Can a relationship with 2 different people like this work out again? Why do I feel this way? I get really jealous because no girls flirt with me at college compared to guys hitting on her. What should I do?
