Comments on: Lifestyles of the Rich and In Debt http://masteryourcard.com/blog/2008/06/08/lifestyles-of-the-rich-and-in-debt/ The best Credit Card Debt Blog online Wed, 17 Mar 2010 10:38:55 -0400 http://wordpress.org/?v=abc hourly 1 By: SavingDiva http://masteryourcard.com/blog/2008/06/08/lifestyles-of-the-rich-and-in-debt/comment-page-1/#comment-3356 SavingDiva Wed, 16 Jul 2008 14:24:12 +0000 http://masteryourcard.com/blog/2008/06/08/lifestyles-of-the-rich-and-in-debt/#comment-3356 I think most people need a reality check (even the middle class). I think most people need a reality check (even the middle class).

]]> By: Kristy http://masteryourcard.com/blog/2008/06/08/lifestyles-of-the-rich-and-in-debt/comment-page-1/#comment-2519 Kristy Wed, 11 Jun 2008 14:36:49 +0000 http://masteryourcard.com/blog/2008/06/08/lifestyles-of-the-rich-and-in-debt/#comment-2519 The people who make that much money should have better budgeting practices. It's the same as a movie star going bankrupt. They live too far outside their means, always thinking the money will be there when eventually it's gone. I have no sympathy for the wealthy just because their networth has dropped from $15 million to $4 million. Yes, that's a large drop, but I guarantee they're still eating. And if they weren't so concerned with appearances, they wouldn't have to worry about it in the first place. There's no need to go into debt when you make $4 million a year. Cut back your spending and stop worrying about what your friends think - they probably aren't even real friends anyway. Sorry Tarah, but I don't think cutting them some slack is the right approach. I'm not even talking about her behavior towards me, but as someone who educates people in the ways of their finances and teaches them to budget, living the extravagant lifestyle that you can't afford doesn't fly by me. They need to learn to be more conservative with their money and this won't be a problem in the future. The people who make that much money should have better budgeting practices. It’s the same as a movie star going bankrupt. They live too far outside their means, always thinking the money will be there when eventually it’s gone. I have no sympathy for the wealthy just because their networth has dropped from $15 million to $4 million. Yes, that’s a large drop, but I guarantee they’re still eating. And if they weren’t so concerned with appearances, they wouldn’t have to worry about it in the first place. There’s no need to go into debt when you make $4 million a year. Cut back your spending and stop worrying about what your friends think – they probably aren’t even real friends anyway. Sorry Tarah, but I don’t think cutting them some slack is the right approach. I’m not even talking about her behavior towards me, but as someone who educates people in the ways of their finances and teaches them to budget, living the extravagant lifestyle that you can’t afford doesn’t fly by me. They need to learn to be more conservative with their money and this won’t be a problem in the future.

]]> By: Tarah http://masteryourcard.com/blog/2008/06/08/lifestyles-of-the-rich-and-in-debt/comment-page-1/#comment-2514 Tarah Wed, 11 Jun 2008 07:53:35 +0000 http://masteryourcard.com/blog/2008/06/08/lifestyles-of-the-rich-and-in-debt/#comment-2514 Oh, come on people. I can understand why they feel like that. Cut them some slack. Yes, the lady's behaviour was uncalled for, but what would you do if you were in the same situation? I know that 15million is not the same as 15000, but imagine if your net worth plummeted like that? Oh, come on people. I can understand why they feel like that. Cut them some slack. Yes, the lady’s behaviour was uncalled for, but what would you do if you were in the same situation?

I know that 15million is not the same as 15000, but imagine if your net worth plummeted like that?

]]> By: traineeinvestor http://masteryourcard.com/blog/2008/06/08/lifestyles-of-the-rich-and-in-debt/comment-page-1/#comment-2486 traineeinvestor Sun, 08 Jun 2008 14:07:33 +0000 http://masteryourcard.com/blog/2008/06/08/lifestyles-of-the-rich-and-in-debt/#comment-2486 I really fail to understand that attitude. I've known several people who went from being wealthy to either broke or close to broke. All of them adjusted their lifestyle downwards (although often with some angst and bitterness). The only ones who borrowed money (that I know of) did so for either a business or for investments. If you're in a hole stop digging is the only sensible approach - no matter how rich you are if you spend more than you earn or make some dud investments then sooner or later you will run out of money. Borrowing to keep the lifestyle going is financial suicide. I really fail to understand that attitude. I’ve known several people who went from being wealthy to either broke or close to broke. All of them adjusted their lifestyle downwards (although often with some angst and bitterness). The only ones who borrowed money (that I know of) did so for either a business or for investments.

If you’re in a hole stop digging is the only sensible approach – no matter how rich you are if you spend more than you earn or make some dud investments then sooner or later you will run out of money. Borrowing to keep the lifestyle going is financial suicide.

]]> By: Fabulously Broke http://masteryourcard.com/blog/2008/06/08/lifestyles-of-the-rich-and-in-debt/comment-page-1/#comment-2485 Fabulously Broke Sun, 08 Jun 2008 13:27:23 +0000 http://masteryourcard.com/blog/2008/06/08/lifestyles-of-the-rich-and-in-debt/#comment-2485 They need a reality check. There was no call for that woman to be rude to you and to treat you like hired help - it was really odd the way she gave you a hard stare and almost wanted you to get lost.... that's weird to me. They've lost all perspective on reality, and don't realize that life could be a lot worse. Just like how I acknowledge that I could be working at minimum wage, struggling to make ends meet, relying on credit cards, lost and alone. I complain sometimes but I never lose sight of the fact that it could ALWAYS be worse. Alternatively, it could also always be better. And besides, the woman is all into keeping up appearances with her car and jewellery, but the problem is that her "friends" are probably worried about the same things and being in the same boat .... but they can't talk about it because they're all not really friends up there, just desperately unhappy, uber rich individuals. At this point, I'd rather be where I am and ridiculously happy with the simplest things in life, than to have everything and not know what it's like to really be happy because I've never been sad. They need a reality check. There was no call for that woman to be rude to you and to treat you like hired help – it was really odd the way she gave you a hard stare and almost wanted you to get lost…. that’s weird to me.

They’ve lost all perspective on reality, and don’t realize that life could be a lot worse. Just like how I acknowledge that I could be working at minimum wage, struggling to make ends meet, relying on credit cards, lost and alone.

I complain sometimes but I never lose sight of the fact that it could ALWAYS be worse. Alternatively, it could also always be better.

And besides, the woman is all into keeping up appearances with her car and jewellery, but the problem is that her “friends” are probably worried about the same things and being in the same boat …. but they can’t talk about it because they’re all not really friends up there, just desperately unhappy, uber rich individuals.

At this point, I’d rather be where I am and ridiculously happy with the simplest things in life, than to have everything and not know what it’s like to really be happy because I’ve never been sad.

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