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Money and Finances
Reply to "Why aren't you able to live within your means?"
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[quote=Anonymous]For many purchases, I think a lot of folks have enough to buy it but not enough to “own” it whether that’s a phone (with a premium cell service), a car (with regular maintenance), a house (with utilities, regular maintenance and unexpected one time bills), etc. Many, many people budget for what they think they can afford based on monthly paychecks, not the true cost of ownership or the loan (including things like financing via credit cards or other high cost debt) or unanticipated costs. It’s why we pay cash and up front when we can because it crystallizes the actual expense and also budget for large future out of pocket costs. I realize that’s a privilege though and we forgo until we can (whether that’s a car, a home improvement or a vacation). With interest rates where they are, I imagine a lot of folks who debt finance things are struggling to live within their means. [/quote]
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