Rural Lifestyle

Life in Rural America

Tag: money matters

Living poor

boogie2988 posted a very heartfelt video about growing up poor, and what its like to be poor.

We have two contrasting parts to the story, living poor because we have to, and living poor because we decide to.

I am bad about spending money. If there is something I want I will shop around and wait on sales. Its stuff like food that I spend a lot of extra money on. Hungry? Lets go get something to eat. I may go get a burger or pizza instead of fixing something at home.

Like boogie2988 says, if you can get some money in the bank, it provides a safety net and peace of mind.

The idea of strategic default

The idea behind a strategic default is, if you owe more money then your house is worth, then just walk away. This works well with people who can rebuild their credit, and who can afford to walk away from their investment. But for people who take pride in owning a house, pride in paying off their debts, pride in owning property, strategic default is not an option.

Who do those homeowners think they are they can just walk away from a loan because their house is worth less today then it was worth last year? Lets compare the “walk away” attitude to the rest of life.

Buying a car or truck – Just because your car value drops, does that mean that you stop paying the note? From the time I bought my Toyota truck, to the time that I paid it off, it had lost about 1/2 – 1/3 of its value. But I still paid it off. If we compare a housing strategic default to a car/truck, then I should have stopped paying on my truck long before I had it paid off.

A totally unrelated video about the Maxpedition Noatak

Urban Survival Tips

Urban Survival TipsPlease Rate This Article When the term “Urban Survival” is discussed, thoughts of MREs stacked to the ceiling, closets filled with cases of bottled water, tons of dried beans and rice piled up in every corner of the house – those kinds of thoughts come to mind. The fact is, there is more […]

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