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One disaster away....

August 4th, 2014 at 01:30 pm

I was

Text is reading this article and Link is http://www.huffingtonpost.com/2013/01/30/financial-emergency-report_n_2576326.html
reading this article, and although it was written a year ago, I wonder if this claim still holds. I'm sure it still does, though I wonder if things have improved at all.

3 Responses to “One disaster away....”

  1. Jenn Says:
    1407174308

    I get annoyed by articles like that because they make us all out to be victims instead of empowered. So the family profiled has a 3 bedroom house, 2 cars, and extracurricular activities for the kids, but it's society's fault they can't save? This makes the reader feel defeated instead of inspired to improve their money management skills.

    Check out the article called 'Give the Kid Credit' in this month's Family Fun magazine where the author boasts about teaching her son to use credit for buying expensive toys by setting up a pseudo credit score system. Actual quotes from the article: "Nakoa was thrilled: the objects of his desire were now within reach." and "Sure, clerks sometimes raise an eyebrow when they overhear him say 'I can get this right? My credit score is 4.5.' But that's ok. I feel I've helped my son get a head start on money smarts."

    A HEAD START on using credit! Holy cow - and we thought the CC companies targeting college students were ruthless.

  2. rob62521 Says:
    1407197728

    I remember a news story a year or so ago about a family that couldn't afford their home. Two parents, two kids...big fancy house...one parent lost a job...and on their two salaries, they were permitted to buy more house than they should have with no money down during that time when banks were giving people loans if they were breathing. I'm sorry, but somewhere along the line the consumer has to have some sense and realize if they make $80,000 a year with both of them working, chances are they can't buy a home and maintain it if it is over 5 times that amount. It isn't just about buying the home, but keeping it working and warm, cool, watered, insured, etc.

  3. Tabs Says:
    1407198500

    Ooh you guys are right. This isn't the best article to be sharing when it comes to financial responsibility, but that is what I had been thinking when I read the article. Like, why didn't they simply downsize instead of flirt with danger? Anyways, thank you guys for the input, and I fully agree with you.

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