Living beyond ones means!

The primary goal of this site is to provide mature, meaningful discussion about the Vancouver Canucks. However, we all need a break some time so this forum is basically for anything off-topic, off the wall, or to just get something off your chest! This forum is named after poster Creeper, who passed away in July of 2011 and was a long time member of the Canucks message board community.

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Re: Living beyond ones means!

Postby BCExpat » Fri Sep 30, 2011 10:21 am

I just don't understand how some people view thier financial situation. It seems they need to have all the toys, fancy vehicles, huge homes, etc., and it doesn't matter how far in debt they go to get them. The way a lot of people are going, they will never be able to retire.
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Re: Living beyond ones means!

Postby Arachnid » Sun Oct 02, 2011 3:47 pm

Rumsfeld wrote:OD, you should have just called them on their bullshit and asked them why they can't split the bill.

Fake-ass beatdown!


Image


8-)

They can't split the bill if their credit card got maxed out or cancelled...

Happened a few times with the same person and I had to pay the full amount each time... :mad:
and they give some bullshit story about how the bank screwed up...the office screwed up or the card is damaged
Facking posers :lol: :lol: :lol:
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Re: Living beyond ones means!

Postby ODB » Mon Oct 03, 2011 3:42 pm

Arachnid wrote:
They can't split the bill if their credit card got maxed out or cancelled...

Happened a few times with the same person and I had to pay the full amount each time... :mad:
and they give some bullshit story about how the bank screwed up...the office screwed up or the card is damaged
Facking posers :lol: :lol: :lol:


LOL, do you know the XXXXXX's? Seriously? We went out to BOSTON PIZZA (a real fancy establishment in Saskatoon). We sat in the lounge ate wings and drank fish bowls. The Riders were playing and this guys a fan so ya whatever. We had a few hundred dollar tab as we indulged in a few. Our server asks if we want the bill split as we're obviously coupled off. We say sure and he has an issue with his Credit Card. I'm like, are you shitting me? It was honestly hard to say for sure as the card did look new but his excuse was he couldn't remember his new four digit pin. I'm thinking ok, use your debit card... IT'S ONLY 100.00??? Or perhaps your wife remembers the pin for her credit card? I paid....

At least he paid me back (100.00, he didn't bother paying me back the 15 bucks I gave as a tip on his bill) just the other day when we meet for our hockey draft. Over a month later! Oh and three guesses who didn’t have his 50 bucks for the draft? He even sorta suggested I could give him 50.00 of the 100.00 he gave me. I was quick on my feet and said aren't you guys hooking up for NFL tomorrow? Just give it to Brad then. He was like oh ya, that'll work! :lol:

I wonder if he was to hung over to join the guys for NFL Sunday?

So friggen pathetic!
BTW, NOT A FLAME ... JUST AN OBSERVATION ... :P
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Re: Living beyond ones means!

Postby Cornuck » Mon Oct 03, 2011 4:58 pm

I'm glad I learned about credit cards when I was young and stupid. Been debt free for about 10 years - mortgage free for 5. But now I'm getting some medical bills - might have to move back home soon.
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Re: Living beyond ones means!

Postby Potatoe1 » Mon Oct 03, 2011 6:20 pm

I don't get how most people in Vancouver do it.

I got lucky and started a business out of university and bought real estate before the boom, but I just don't get how a lot of people in this city are keeping things together.

It isn't even about living beyond your means its simply about living in a city where your rent or mortgage consume the average persons entire pay check.

I have heard the average salary out here is around 40k. My admin person makes that, and her after tax + bennifits pay checks are around 1250$ every 2 weeks.

2500$ a month barely covers mortgage, property tax and strata fees on a crappy town house in the coquitlam / port moody / burnaby area so for a working couple where both make the average, one of the salaries is gone before you have even paid for food / cars / cable etc.

It is no wonder the personal debt load for the people who live here is nuts, most families here probably cant afford even a basic existence in this city.
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Re: Living beyond ones means!

Postby ODB » Mon Oct 03, 2011 8:13 pm

Potatoe1 wrote:It isn't even about living beyond your means its simply about living in a city where your rent or mortgage consume the average persons entire pay check.


I here ya there Pot! Even in Saskatchewan my nephew is like wtf, how do I get a start? Anything that isn't planted in the middle of the hood starts at 300k. Total crap pile,900sf... 300k!

You have to live and I get that. One can drive a piece of shit and pay thousands a year just keep the heap of crap on the road of they can finance a reasonable reliable vehicle. Paying interest isn't always selling your soul to the devil!

But this couple I know is obviously in financial ruins and they do nothing about it! In fact, they keep spending to keep up with the neighbors. They bought a nice boat a few years ago and they don't even use it! Maybe they can't afford to. It just sits in their driveway! I have a hard time feeling sorry for them. They could change but their ego wont let them!
BTW, NOT A FLAME ... JUST AN OBSERVATION ... :P
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Re: Living beyond ones means!

Postby dhabums » Mon Oct 03, 2011 8:20 pm

ODB wrote:*rant on*

Do any of you know those people who live WAY beyond their means?

We know a couple that drive nice cars and have a kick ass house but the TRUTH is they couldn't afford to go out for a few beers! Their Credit Cards are maxed! These people are complete attention whores! Real flakes!


Smart people have everything plus a little more invested in real estate. Poor people have cash in the bank. Hopefully part of that maxed CC was for implants.
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Re: Living beyond ones means!

Postby Arachnid » Tue Oct 04, 2011 6:14 am

Yoo!, Couldn't have said it better myself 8-)

http://www.youtube.com/watch?v=-mAUQYn6DjM

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Re: Living beyond ones means!

Postby Arachnid » Tue Oct 04, 2011 6:17 am

ODB wrote:
Potatoe1 wrote:It isn't even about living beyond your means its simply about living in a city where your rent or mortgage consume the average persons entire pay check.


I here ya there Pot! Even in Saskatchewan my nephew is like wtf, how do I get a start? Anything that isn't planted in the middle of the hood starts at 300k. Total crap pile,900sf... 300k!

You have to live and I get that. One can drive a piece of shit and pay thousands a year just keep the heap of crap on the road of they can finance a reasonable reliable vehicle. Paying interest isn't always selling your soul to the devil!

But this couple I know is obviously in financial ruins and they do nothing about it! In fact, they keep spending to keep up with the neighbors. They bought a nice boat a few years ago and they don't even use it! Maybe they can't afford to. It just sits in their driveway! I have a hard time feeling sorry for them. They could change but their ego wont let them!


Yeah, that's it, their ego... :twisted: how about their stupidity? The thing that gets me is they blame others if they ever even admit they are credit poor....It's their own damn fault 8-)
Socks are dead puppets :(
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Re: Living beyond ones means!

Postby Vpete » Tue Oct 04, 2011 8:43 am

I just had a chat with my best friend about some investment options he should consider for his kids that are better than RESPs and a few other 'life advice things'. He's a lawyer makes low 6 figures and his wife is a nurse. Should be pretty safe right? Nope.

He tells me they have very little free cash, live month to month and discretionary income is based on his year end bonus. His wife works part time due to young kids and cheaper than child care but- wow! I was caught off guard as he had moved into his house a couple of years ago and seemed in pretty good shape. I'm amazed what they paid for the house and why but that is a whole other issue. I explained to him some of my rationale for this investment, why I have 2 each for my kids and how when they are 30 they will each have over 100k in assets. I told him the cost and he said to tight to afford.

I'll be the first one to say that I'm a pretty lucky guy in life. However, I'm not stupid in terms of what is affordable and smart vs what is affordable and stupid. Unfortunately the more people I see in Vancouver the more I realize the latter is true more often than not.

I moved from Vancouver when I realized that due to kids/work I was no longer doing all the things people move their for. Didn't ski anymore, hardly ever did outdoor rec, was not jogging on Spanish Banks at 6:30 am like a Nike postcard along with all the other things people love about Vancouver. Granville Island public market was no longer an asset in terms of quality of life.

I will be retired by 55 and my friend will still have 15 years on his mortgage if nothing changes, and for him like many, more income rarely goes against debt it goes for more stuff. I started making my son watch that show "Till Debt Do Us Part" and it freaked him out. Should be required learning in schools. In two years I will owe no one anything and that's a freedom I can't wait for.
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Re: Living beyond ones means!

Postby Benjo » Tue Oct 04, 2011 8:54 pm

27 and buying my first house. We chose Sooke on the island because it is about 100k cheaper than anything in Langford even which is only 20-30 minute drive away. Haven't made my first mortgage payment yet but we're already sweating bullets and figuring out way to cut extra expenditures. Despite all of that we we will still be tight every month but you have to start somewhere. We run our small business by day and I'm taking 2nd year business classes by night so I'm hoping it will pay off in the next few years so I can start up another venture or get a get a decent paying job. My parents were/are nurse aids helping the elderly and never learned much about investment instruments so it was difficult for them to teach me anything about it. After spending my early 20s in crap dead end jobs I'm now in school and running a business at the same time. If you have kids tell them to start thinking about what they want to do with their life before they waste their 20's or even their life! It's nice to be fresh out of school and have freedom from parents but it just isn't worth it.
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Re: Living beyond ones means!

Postby CFP! » Tue Oct 04, 2011 9:42 pm

Benjo wrote:27 and buying my first house. We chose Sooke on the island because it is about 100k cheaper than anything in Langford .



Where did you buy Benjo? nEW OR lived in? My main work is @ Westhills in Langford and new homes start @ $390. We also do new construction @ Sunriver and IIRC they start about $400.

We bought in 2005. $285 then, $385 now. And we are the border of Langford/Colwood.

I used to work out that way as well, so I'm familiar with the area.
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Re: Living beyond ones means!

Postby Benjo » Wed Oct 05, 2011 2:27 pm

We bought just past Sooke rec and the shopping centre. We are paying about 389 after taxes and lawyers etc. its a brand new place with 3 bedrooms. The problem we had with Westhills/Kettle Creek/Sun River is that they say starting at $___ because they sold maybe one unit at that price and the rest are maybe 20k more depending on options. This way our net house price was still less than what those developments were starting at.

Do you play any rec hockey CFP? Roller hockey at eagle ridge or anything?
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