Reply to Upper and UMC Ppl: Do you Actually Know Anyone Living Beyond their Means?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Honestly no.
[b]
In general, people who spend a lot make a lot and are saving a lot.[/b]

Poorer people like to think to otherwise make themselves feel better for missing out ("So and so went on an exotic vacation but I bet they have no savings") but that doesn't make it true.[/quote]
IME (admittedly anecdotal but so, it would seem, is yours), this is not true. Comfortably MC people (families with incomes of around $100K with two college-educated earners) are the most likely I've seen to do these kinds of things. My SIL is a case in point...maybe not exotic vacations, but certainly things like remodels or big screen TVs.

Actualy poor people might seem like they have poor money-management skills, but it's because it actually takes some money to be wise about money. My parents have a handyman who is always paying impound fees on his car. You can say it's irresponsible of him to park illegally, but the reality is that he's got no legal place to park anywhere close to where he lives. His "luxury" might be eating a grocery store steak (i.e. still under $10) once in a month or so...not taking exotic vacations.[/quote]

I had business partner that made 500K/year and was maxed out of a half a dozen credit cards.  I saw his country club bill once on his desk - 15K/mo!  For some people, the dollars just slip through their fingers no matter how much they make.  You should never look at outward appearances of wealth like cars, vacations, etc, and assume it means financial security.  You can be one missed paycheck away from disaster no matter how much you make.[/quote]

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