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$40K on the credit card, $125K on the mortgage, $1K monthly bills. How do YOU survive Obamanomics?
6/01/11 | Libloather

Posted on 06/01/2011 6:57:16 PM PDT by Libloather

You're pretty close to being toast. Nerves are frazzled, homes are being evacuated, jobs lost and families are torn apart.

Oh, the rookie Hussein has performed magic, all right. Kinda nuts. But it's what Barry King planned all along. This is his vision. Wealth distribution. And it's only getting started.

How do you make it? Old money, new money, food stamps, living with the folks, moving in with the neighbor? How are you doing it?

Are there any really good tips to make it through the Hussein years?

And don't give me any guff on that '$40k on the credit card' remark. I hear the commercials. You know the ones who say, "Do you owe over $100K to the IRS?" HOLY CRAP! Are you kidding?


TOPICS: Crime/Corruption; Editorial; Government; News/Current Events
KEYWORDS: bills; credit; cwii; gold; loans; miseryindex; mortgage; obamanomics; obamunism; silver; steelandlead
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To: Libloather
$40K in credit?! Holy @#$%! (/guff)
I got rid of all my cards about a decade ago, when I bought a house.
If I don't have the cash, I don't buy it.
(There are a lot of things I don't buy, obviously.) ;)
The garden gets bigger every year, movies and music courtesy of the local library (and Netflix), and vacations consist of road trips to visit the family.
Then again, I never was one for “living large”...
21 posted on 06/01/2011 7:15:11 PM PDT by astyanax (Liberalism: Logic's retarded cousin.)
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To: Libloather

$2500 on the credit card, $40,000 on the mortgage (paid off in 7.83 years if life makes it that long), $3000 monthly bills. 10+ year old autos-paid off. No kids. Started putting stuff aside, not enough to survive on other than a storm.

Going to school, taking tests, looking for jobs closer to home. No eating out, kerosene heater, no vacations, no entertainment, no shopping for fun, worry and stare at Quicken a great deal.

I hate my austerity plan!


22 posted on 06/01/2011 7:16:20 PM PDT by madison10
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To: SuzyQue

Having grown up poor seems to be a big help in my case. Its made me frugal.


23 posted on 06/01/2011 7:17:12 PM PDT by cripplecreek (Remember the River Raisin! (look it up))
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To: Libloather

60k left on the mortgage and then I am debt free. I am working haard to pay that down I can tell you!


24 posted on 06/01/2011 7:17:28 PM PDT by Chickensoup (The right to bear arms is proven to prevent government genocide. Protect yourself!)
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To: Libloather

Quit smoking, but bought a lot of new fishing gear with the savings.


25 posted on 06/01/2011 7:17:54 PM PDT by Thrownatbirth (.....Iraq Invasion fan since '91.)
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To: DB

>>All I can say is hold on and survive.<<

It is a bit late for some, but the way to survive is to live well within your means and stock up on cash when you do have employment. The bigger the nest-egg, the better you’ll breath. Those who are currently employed should act as if they won’t be tomorrow. I have 9 months gross pay in a special account (sadly, you can’t get squat on CDs or Interest checking accounts but I want to able to tap it at a moment’s notice). But has taken me 10 years to accumulate it.

Pay cash for everything, do without that which you can’t buy for cash. Use a very few cards (it is almost impossible to operate today without them), get the points and use them like cash — always pay them down to zero.

All the ideas here to stretch dollars should be strongly considered.

FWIIW, that is what people with money do. I read last week that the popular car for millionaires is a Toyota Camry.


26 posted on 06/01/2011 7:18:33 PM PDT by freedumb2003 (Herman Cain 2012)
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To: madison10
$2500 on the credit card

Dang. That's nasty stuff at what - around 20% interest? Gotta get rid of that - maybe first.

27 posted on 06/01/2011 7:21:40 PM PDT by Libloather (The epitome of civility.)
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To: OrangeHoof

your fortunate to have no mortgage. mine is over $100k underwater. and it’s just me and my child now.

and you said:
“Hyperinflation or a second recession will likely kill a lot of us financially.”

sadly, i think we are ALREADY in it.
if the gov. used it’s own figure for GDP, it would have been -3 for 1st Q, instead of the 1.8 they reported.
http://www.freerepublic.com/focus/f-news/2727239/posts
What GDP Growth Would Look Like If The Government Were Using The Right Inflation Numbers

...a top finance guy on Drudge today, said we are entering a full blown depression. Chicago manufacturing index is at record low. other things i don’t understand, but sound bad. i took out half of the little i have in retirement.

...not trying to sound gloomy. the 10 in the Bible were praised for being ready with extra oil. so, i’m just preparing the best i can, and praying.


28 posted on 06/01/2011 7:22:09 PM PDT by Elendur (the hope and change i need: Sarah / Colonel West in 2012)
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To: Chickensoup

>>60k left on the mortgage and then I am debt free. I am working haard to pay that down I can tell you!<<

Paid off the mortgage last month (after 12 years). I have admit it feels pretty to owe no one a penny.


29 posted on 06/01/2011 7:22:20 PM PDT by freedumb2003 (Herman Cain 2012)
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To: Libloather
A little message for those in a bad situation.

My wife and I came from desperately poor families and as a consequence have lived our entire life way BELOW our means. We have no debt (and I mean house, two cars, and credit cards paid off). We have a tidy bit of savings and investments.

And every night I go to be worrying about this crap.

It doesn't matter what your situation is, when you have idiots at the controls in Washington, only a fool isn't worried. Until we have a solidly conservative President and a filibuster proof conservative congress, everybody should be worried.

30 posted on 06/01/2011 7:23:43 PM PDT by I cannot think of a name
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To: Libloather

I’ll be debt free in 3 months.

I may be job free in 3 months too. It’s getting slow.


31 posted on 06/01/2011 7:25:35 PM PDT by mylife
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To: madison10

If you’re near a town of any size at all there will be no-charge public events, concerts, music, even outdoor classic movies, that will break the monotony but not the budget.

Speaking of budgets, I’ve eased off on my austerity budget somewhat, since things are looking better for me at present, didn’t have much debt so that helped, monthly total outlay is less than $2K. But, during the course of my rough patch in 2008-2010, I found it very helpful to get out into the world to see that it was still there and not gone all completely to hell just because my life had personally. Seeing people still having fun, kids and dogs, smiling faces, helped tremendously.

Life does go on.


32 posted on 06/01/2011 7:26:02 PM PDT by RegulatorCountry
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To: Libloather

Set our taxes so we won’t get a return, but will use the money for our needs.

Don’t answer the phone if it looks like a telemarketer or politician.

Tithe


33 posted on 06/01/2011 7:26:14 PM PDT by madison10
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To: freedumb2003

Paid off the mortgage last month (after 12 years). I have admit it feels pretty to owe no one a penny

congratulations! have a mortgage burning party yet?


34 posted on 06/01/2011 7:26:28 PM PDT by Chickensoup (The right to bear arms is proven to prevent government genocide. Protect yourself!)
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To: cripplecreek

Agreed! We know how to get by with little.


35 posted on 06/01/2011 7:26:31 PM PDT by SuzyQue (Remember to think.)
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To: Libloather
Dang. That's nasty stuff at what - around 20% interest? Gotta get rid of that - maybe first.

10% interest. Working on it.

Been pondering a question, maybe someone could help...would it be better to take money from savings in to pay the card off in hopes of replenishing savings, or should we just keep plugging away at the credit card?

36 posted on 06/01/2011 7:29:01 PM PDT by madison10
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To: LizardQueen
key is NO DEBT

Exactly! Buy a house you can afford in an area with low taxes. Buy a car you can afford. Don't borrow for education either.

If it isn't too inconveeeenient -- go Galt!

37 posted on 06/01/2011 7:29:19 PM PDT by 668 - Neighbor of the Beast (Please sir...permission to protest?)
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To: Chickensoup
60k left on the mortgage and then I am debt free.

Paid off the house right after the election, just before Hussein hit. (When I say I saw it comin', I wasn't kidding.) One lump sum. Done.

Now, the annual property tax bill comes in the mail. It's always somethin'.

38 posted on 06/01/2011 7:30:37 PM PDT by Libloather (The epitome of civility.)
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To: Libloather

Anyone that uses a credit card and doesn’t pay it off in full every month deserves to lose big.


39 posted on 06/01/2011 7:31:19 PM PDT by dalereed
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To: dalereed
Anyone that uses a credit card and doesn’t pay it off in full every month deserves to lose big.

How do you know? You have no idea what people are up against. Credit cards aren't being used for fun anymore, they are being used for survival...as in paying bills and eating.

40 posted on 06/01/2011 7:32:43 PM PDT by madison10
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