|
Inmate Central Inmate Central, where civil and family-friendly discourse about off-audio topics (other than religion and politics) is welcome. |
|
|
|
Inmate Central Inmate Central, where civil and family-friendly discourse about off-audio topics (other than religion and politics) is welcome. |
|
In Reply to: RE: Holidays, debt, and priorities... posted by JDK on December 1, 2024 at 15:19:13:
I did a budget for a young couple that was considering bankruptcy.I had each of them write down their wages and expenditures, put them in a spreadsheet, grouped them, calculated the percentages and then showed them what "average" people spend on each category.
I did projections to show them the trends they are on and where they will be over time if things don't change.
Turns out, they were spending over 60% of their income on junk food and convenience store food. The rest was restaurants and weekend camping trips/vacations.
I asked them what was absolutely necessary and what wasn't for each line item.
I then asked them to mark how much they could realistically cut back on and live with.
I recalculated their changes and within a year, their debt would be paid off and would be able to start contributing to a savings account. No bankruptcy and no ruined credit necessary.
I went over the scenarios with them and told them these are their figures and I have no power to make them abide by any one of the budgets.
They both agreed they wanted to be out of debt in a year and proceeded to declare bankruptcy in 6 months. They have been leaching off their parents ever since, depending on them to bail their collective asses out after each needless self-created financial disaster.
No Ferraris charged, just laziness and needless junk indulgences on credit cards and cash before paying their necessities.
.
2022/03/30 Historical Records CENSORED
Edits: 12/02/24
This post is made possible by the generous support of people like you and our sponsors:
Follow Ups
- You don't need Ferraris to max out your CC on needless schyte !!! - emailtim 08:57:45 12/02/24 (1)
- There is a LOT of this kind of crap going on... - peppy m. 10:23:56 12/02/24 (0)
Top of Page ]
[ Contact Us ]
[ Support/Wish List ]
[ Copyright © 2025, Audio Asylum, all rights reserved ]
