Is it getting harder financially or is it just me?

[one_muggle]

hipmatt,

Obviously you worship satan.
Just kidding–you’re obsolutely correct, I second your statement.

-one muggle

[one_muggle]

hipmatt,

Obviously you worship satan.
Just kidding–you’re obsolutely correct, I second your statement.

-one muggle

[sdappraiser]

“I can see the occasional political reference, but I see no need to keep a thread going for 7 pages and two months about how Christianity is the root of all evil, or any other religion for that matter.”

I suppose 7 page threads about how realtors are the root of all evil are fair game.

You are all a bunch of cry babies. So there.

[sdappraiser]

“I can see the occasional political reference, but I see no need to keep a thread going for 7 pages and two months about how Christianity is the root of all evil, or any other religion for that matter.”

I suppose 7 page threads about how realtors are the root of all evil are fair game.

You are all a bunch of cry babies. So there.

[SDHousehunter]

Thank you for your comments and interesting discussion points. I think this forum is a fantastic opportunity for people to share what they are doing and see where they are lacking

Interesting that some commented on the tithing allocation. I am Jewish so without a detailed discussion on talmudic financial law there is a special mitzvah (commandment) to calculate a portion to be used for tzedakah (charity). Fortunately, there are no issues in my life which would necessitate transfering charity funds towards personal expenses. Should the need arise I would transfer the funds. For those who are interested in the topic, there is a commentary in the Mishnah called Pirkei Avot( Sayings of the Fathers) which details ethical concepts applicable to life, family and business. Once such concept is “Where there is no man. . . be that man.” In other words, if there is a situation that necessitates fixing and there is no one to fulfill that need than one should become the person that fulfills it. Having the opportunity to change people’s lives firsthand is an investment opportunity that gives a return greater than can be accomplished otherwise.

Not to be off subject, but the Talmud suggest that Jews hold there monetary assests in three categories: Real Estate, Personal Business and Cash.

Why? Real Estate is an investment that may appreciate and be bequeathed to future generations. Business. . . .well that’s obvious to have reserves and funds for growth and expantion as well as funds during credit contractions.
And Cash. . . . a Jew should have the funds to take advantage of a buying opportunity below market prices. . . and hence. . “Jew” down the prices 🙂

Now you know why Jews and Macy Sales are like peas and carrots 🙂

As for food, Yes I do eat well. Our diet consists of Trader Joe’s and Whole Food products. I know most of us would put cheap gas in our cars, however, I made it a priority to have the best foods for the family.

My wife is a full time worker (in the home) and will be that way permanently until the kids are off to school. Our rent is in a Rancho Bernardo with access to shopping. Someone mentioned cheaper rent I have yet to find an area that has a 3 bedroom with a high rated school district for $1,500 that does not share various unsavory elements as well.

The student loans are in a paydown plan of 2 years. After graduation I had $35,000 in debt from a private institution with a 2/3 academic scholarship. I decided to commit to paying the loans down and upon repayment transfer the funds for our children’s education and enrichment fund. Although economics teaches you how to survive, a rennaisance education is one I value for my children.

I have an S-Corporation and I do take advantage of every tax loophole my account can find (Jewish of course!) As a salesman I expense insurance, gasoline, car repair, car washes (did you know they are deductible as well), as well as office equipment while keeping enough reserves to pay quarterly estimates.

What amazes me is that without the coporate shelter. . . . I would be behind
even more.

So how can this economic structure continue without producing a dependent mass of economic slaves? How can asset prices continue to be appreciate at levels inconsistent with historic price fluxuation? Have we sacrificed the middle class on the altar of economic globalization?

Politically we are in a Middle Eastern great game for resource control? What if Iran stops pumping? How will China, India and Pakistan fuel their economic growth via modernization? How can a populace survive a credit contraction when their savings rate is negative? When the credit pump stop. . . . what will they do. . . . as Greenspan said, “History has not dealt kindly with long periods of low risk premiums.” In other words, we are witnessing perhaps the biggest wealth grab from the incompetant many to the corrupt few in history.

My concern is that my family and children will be financially protected against market fluctuations and potential systemic risk to global financial and political systems. For this reason I feel that the debt free model is ideal until it become cheaper to buy than rent.

Please keep the comments coming

[SDHousehunter]

Thank you for your comments and interesting discussion points. I think this forum is a fantastic opportunity for people to share what they are doing and see where they are lacking

Interesting that some commented on the tithing allocation. I am Jewish so without a detailed discussion on talmudic financial law there is a special mitzvah (commandment) to calculate a portion to be used for tzedakah (charity). Fortunately, there are no issues in my life which would necessitate transfering charity funds towards personal expenses. Should the need arise I would transfer the funds. For those who are interested in the topic, there is a commentary in the Mishnah called Pirkei Avot( Sayings of the Fathers) which details ethical concepts applicable to life, family and business. Once such concept is “Where there is no man. . . be that man.” In other words, if there is a situation that necessitates fixing and there is no one to fulfill that need than one should become the person that fulfills it. Having the opportunity to change people’s lives firsthand is an investment opportunity that gives a return greater than can be accomplished otherwise.

Not to be off subject, but the Talmud suggest that Jews hold there monetary assests in three categories: Real Estate, Personal Business and Cash.

Why? Real Estate is an investment that may appreciate and be bequeathed to future generations. Business. . . .well that’s obvious to have reserves and funds for growth and expantion as well as funds during credit contractions.
And Cash. . . . a Jew should have the funds to take advantage of a buying opportunity below market prices. . . and hence. . “Jew” down the prices 🙂

Now you know why Jews and Macy Sales are like peas and carrots 🙂

As for food, Yes I do eat well. Our diet consists of Trader Joe’s and Whole Food products. I know most of us would put cheap gas in our cars, however, I made it a priority to have the best foods for the family.

My wife is a full time worker (in the home) and will be that way permanently until the kids are off to school. Our rent is in a Rancho Bernardo with access to shopping. Someone mentioned cheaper rent I have yet to find an area that has a 3 bedroom with a high rated school district for $1,500 that does not share various unsavory elements as well.

The student loans are in a paydown plan of 2 years. After graduation I had $35,000 in debt from a private institution with a 2/3 academic scholarship. I decided to commit to paying the loans down and upon repayment transfer the funds for our children’s education and enrichment fund. Although economics teaches you how to survive, a rennaisance education is one I value for my children.

I have an S-Corporation and I do take advantage of every tax loophole my account can find (Jewish of course!) As a salesman I expense insurance, gasoline, car repair, car washes (did you know they are deductible as well), as well as office equipment while keeping enough reserves to pay quarterly estimates.

What amazes me is that without the coporate shelter. . . . I would be behind
even more.

So how can this economic structure continue without producing a dependent mass of economic slaves? How can asset prices continue to be appreciate at levels inconsistent with historic price fluxuation? Have we sacrificed the middle class on the altar of economic globalization?

Politically we are in a Middle Eastern great game for resource control? What if Iran stops pumping? How will China, India and Pakistan fuel their economic growth via modernization? How can a populace survive a credit contraction when their savings rate is negative? When the credit pump stop. . . . what will they do. . . . as Greenspan said, “History has not dealt kindly with long periods of low risk premiums.” In other words, we are witnessing perhaps the biggest wealth grab from the incompetant many to the corrupt few in history.

My concern is that my family and children will be financially protected against market fluctuations and potential systemic risk to global financial and political systems. For this reason I feel that the debt free model is ideal until it become cheaper to buy than rent.

Please keep the comments coming

[patientrenter]

The corrupt few are many..

SDHousehunter,

I’m so glad you’re Jewish. I was expecting a wall of off-topic and bitter blather for and against religion. Now I’m just waiting for the jokes (and thanks for the starters).

If I got you right, you think the financial world is teetering on the brink of a cliff, or at least a ditch, and that a corrupt few are behind your inability to live larger.

That’s not my view. Take a look at recent posts here by myito. She seems moderately successful, like you, but seems to live at about the level of material wellbeing you want. She says she lives in a whole comfortable middle-class world where that’s normal. She made some investments 10 or 15 or 20 years ago, and they have done very well, as most investments did.

I’m a late baby boomer. My 4 siblings are older and all fit myito’s mold. They are all very comfortable, even though none was a star performer. The key was that they worked hard and saved a high % of their income and, most importantly, they bought assets cheap and early. There are many, many tens of millions of them out there in the US and Europe and Japan and elsewhere. It’s not a corrupt few. They’re neither (unusually) corrupt, nor few.

Patient renter in OC

[patientrenter]

The corrupt few are many..

SDHousehunter,

I’m so glad you’re Jewish. I was expecting a wall of off-topic and bitter blather for and against religion. Now I’m just waiting for the jokes (and thanks for the starters).

If I got you right, you think the financial world is teetering on the brink of a cliff, or at least a ditch, and that a corrupt few are behind your inability to live larger.

That’s not my view. Take a look at recent posts here by myito. She seems moderately successful, like you, but seems to live at about the level of material wellbeing you want. She says she lives in a whole comfortable middle-class world where that’s normal. She made some investments 10 or 15 or 20 years ago, and they have done very well, as most investments did.

I’m a late baby boomer. My 4 siblings are older and all fit myito’s mold. They are all very comfortable, even though none was a star performer. The key was that they worked hard and saved a high % of their income and, most importantly, they bought assets cheap and early. There are many, many tens of millions of them out there in the US and Europe and Japan and elsewhere. It’s not a corrupt few. They’re neither (unusually) corrupt, nor few.

Patient renter in OC

[Anonymous]

SDH, someone pointed to Leviticus and hinted that Jews may still practice making burnt offerings to atone for sin (a sidebar on our ‘Happy Summer Solstice’ thread). I guessed that Jews make figurative, not literal, burnt offerings today.

How do you ‘do’ burnt offerings today?

[Anonymous]

SDH, someone pointed to Leviticus and hinted that Jews may still practice making burnt offerings to atone for sin (a sidebar on our ‘Happy Summer Solstice’ thread). I guessed that Jews make figurative, not literal, burnt offerings today.

How do you ‘do’ burnt offerings today?

[contraman]

Hipmatt,

1) He came on the site to ask a question with the general jist being how to get ahead.

2) After viewing the list of expenses, I thought it would be better to stop tithing $500.00 and save it for a down payment to shelter his family rather than stop buying gas and shutting off the electric and resorting to candle light.

3) Maybe I am wrong. He wanted to know our thoughts.

4) With everyone tithing here, maybe I should start a non-profit 401(C)3 and everyone can give to me and then I can use that for a downpayment and hold church services in my house for 2 hours a week….hmmmmm…not a bad idea….then I could find other loopholes to avoid paying taxes like every other non-profit…

5) Anyone want to start a Church with me? I will afford you a parsonage in my back yard and give you a fancy title…

Sincerely, Contraman

[contraman]

Hipmatt,

1) He came on the site to ask a question with the general jist being how to get ahead.

2) After viewing the list of expenses, I thought it would be better to stop tithing $500.00 and save it for a down payment to shelter his family rather than stop buying gas and shutting off the electric and resorting to candle light.

3) Maybe I am wrong. He wanted to know our thoughts.

4) With everyone tithing here, maybe I should start a non-profit 401(C)3 and everyone can give to me and then I can use that for a downpayment and hold church services in my house for 2 hours a week….hmmmmm…not a bad idea….then I could find other loopholes to avoid paying taxes like every other non-profit…

5) Anyone want to start a Church with me? I will afford you a parsonage in my back yard and give you a fancy title…

Sincerely, Contraman

[lonestar2000]

SD Househunter,

If you look at the articles, opinions, and the financial indicators, Americans are living on borrowed money, month to month. Purchases are being financed from 2nd mortgages, HELOCS, and the like. Savings are at an all time minimum.

I am the only earner in my family, with a stay at home wife/mom and a 14 month old son, and I make about $40,000 less than you. They way we do it is as follows:

1. Own a small mobile home in a rent controlled park,
$350 a month space rent.

2. Drive a scooter to work which gets 70mpg in the city,
$40 a month for gas.

3. I eat breakfast and dinner at home and eat $1 frozen dinners for lunch.

4. We shop at Ross (cheap, decent clothes), Big Lots (deals on many items), and 99c stores (groceries, toiletries, etc).

5. We limit eating out to once or twice a month.

We owe about $17,000 from a remodel and costs associated with our child birth. We’re paying this off to the tune of $1000 – $1400 a month and are on track to be debt free by this time next year. That is when we plan on purchasing a house. I think the timing will be just about right to pick up a cheap REO on a 30 year, fixed rate loan.

If you’re serious about buying a house you have to make any and all adjustments you’re able. A year of sacrifice will net you a nice house by this time next year.

[lonestar2000]

SD Househunter,

If you look at the articles, opinions, and the financial indicators, Americans are living on borrowed money, month to month. Purchases are being financed from 2nd mortgages, HELOCS, and the like. Savings are at an all time minimum.

I am the only earner in my family, with a stay at home wife/mom and a 14 month old son, and I make about $40,000 less than you. They way we do it is as follows:

1. Own a small mobile home in a rent controlled park,
$350 a month space rent.

2. Drive a scooter to work which gets 70mpg in the city,
$40 a month for gas.

3. I eat breakfast and dinner at home and eat $1 frozen dinners for lunch.

4. We shop at Ross (cheap, decent clothes), Big Lots (deals on many items), and 99c stores (groceries, toiletries, etc).

5. We limit eating out to once or twice a month.

We owe about $17,000 from a remodel and costs associated with our child birth. We’re paying this off to the tune of $1000 – $1400 a month and are on track to be debt free by this time next year. That is when we plan on purchasing a house. I think the timing will be just about right to pick up a cheap REO on a 30 year, fixed rate loan.

If you’re serious about buying a house you have to make any and all adjustments you’re able. A year of sacrifice will net you a nice house by this time next year.

[temeculaguy]

I know you deduct the car insurance but it is too high, shop around, try Wawanesa, two cars of about 30k each and two drivers should be around 30-50% less.

I know tithing has become the thing everyone has jumped on first and you gave a cogent explanation, if it makes you feel good do it. But to rationalize it with biblical references while essentially stealing cable and internet seems like a bit of selective morality, taking from one institution and giving to another. Sorry if that sounded like an insult, it isn’t meant to be, just an observation.

I have to agree with the other posters about San Diego and living on one income. It is noble and valuable but it somewhat unrealistic here without larger sacrifices. I suggest you encourage your spouse to pursue a teaching degree or some vocation where she can earn income while the kids are in school once they are. One spouse doesn’t have to work full time or out of the home to supplement the family income. I don’t see how 90k can do anything other than tread water in RB but I wish you luck. You wan’t to live in an a high priced area, have a stay at home wife, give generously to charity, it’s a cake and eat it too scenario or better yet an appetite for a steak on a hot dog budget, something has to give.

[Author]

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