I met a lot of people who say they are broke

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This is something I always thought was hard to understand because I barely spend money. A lot of my co worker complain about there loans and ask for overtime. I dont own property or have any loans. My car is almost 20 years old. The only thing I pay into is my savings account and I have been trying to invest in stocks and bonds. One of my sister always asks my parents to help her pay for her SUV because a lot of her money is spent on fast food and her entertainment and traveling. Maybe she lies and tells my parent that her kid is very expensive?

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Comments ( 11 )
  • darefu
    11 months ago

    If they are not paying any bills, just putting money into savings and possibly stocks and bonds. Then it sounds like they are a basement dweller. Someone letting/sponging off others for a roof and necessities.

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    • Anonymous Post Author
      11 months ago

      I pay rent, insurance and invest into my saving account. Almost all my co worker have brand new vehicle some have both a vehicle loan and mortgage. Pretty much all of them complain that they are broke

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      • darefu
        11 months ago

        Values and preferences! If you make enough to pay rent, insurance, food, utilities, phone, and you do need some entertainment in there somewhere, plus you are saving some, you are doing good. I would say finances and budgeting are important values to you and come naturally.

        Not sure how much you and your coworkers make, but depending on the area you live in, if you can bring home $2000 a month you should be able to do it. However, most younger people are addicted to eating out, and their entertainment cost are very high. A lot spend more on entertainment than they do on rent. As far as the car, that's just a choice, some spend more on car repairs than it would cost to have a fairly new car, not to mention they value the reliability of a new car if getting to work is critical. But it sounds like you have a pretty good handle on your money.

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  • MonkThousandWords
    11 months ago

    it's a lifestyle choice, people tend to use more money for things the more they earn, I still remember when buying snack at a grocery store was a luxury for me, now I can just buy some whenever I want and I feel rich, if I were to crave buying more expensive stuff I would feel poor again.

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  • 1WeirdGuy
    11 months ago

    A lot of people say most ppl in America live paycheck to paycheck but then when you look at wage statistics and compare it to the price of food, energy, and houses you realize the problem is Americans have a spending problem not an economy problem. If you are making 60k a year a $400 a month car note is just a bad idea.

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  • taebby22
    11 months ago

    I think a lot of people spend money they don't have. No offense to your sister, but even with a kid, there's no reason to buy an SUV unless you're "keeping up with the Jones's". A modest car is enough for a family. But people will throw money around like it's nothing and then complain when times get tough.

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  • tarot
    11 months ago

    You need to find better people in your life. Do you live in a poor city?

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  • kikilizzo
    11 months ago

    A lot of people spend unnecessarily. I am genuienly broke but it's possible to live with very little money if you can budget well. There is no need to take huge loans unless it's for something very important. I don't consider a car very important, you can get a functioning used car for a low price but people want a nice car to show off hence taking loans... A house is nice to have and I would love to have one but i'd probably have to marry somewhat rich to pull that off lol. If one is broke a house isn't a good idea anyway, seeing as you have to take care of repairs and everything yourself. People make dumb decisions, that's why they are broke. Those working fulltime at least, that claim to be broke, they for sure wouldn't be if they actually took some responsibility and planned a budget for each month and put money into their savings account for the future. It's possible those big spenders grew up well off and never got used to spending wisely, or they fall extremely easily for peer pressure and has to have the newest most expensive gadget because it's what popular right now... It's crazy that economy and the importance of having a budget isn't covered in schools, no wonder so many people are struggling.

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  • Ummitsstillme
    11 months ago

    "... money is spent on [fast] food and her entertainment and traveling."

    I'm down with that debt

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  • LloydAsher
    11 months ago

    I'm not broke. Can go 3 weeks without being paid. That wont be fun but its survivable.

    Comfortable. Not broke, with the housing index it's just smart to hunker down in a rental until a housing crash.

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  • Lusty-Argonian
    11 months ago

    I like to say I'm broke. I have a bit over 10 grand saved up. Honestly for how much I make this is disgustingly low but I'm getting better at saving up. Telling people your broke is a great way to avoid being asked fot financial help. People ask me for money all the time knowing a I make alit due to overtime but I let them think im really bad with my funds it makes it easier

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