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Re: Whats the prime reason for your financial catasrophe?


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Posted by Andrea (207.7.7.214) on April 28, 2004 at 09:48:36:

In Reply to: Whats the prime reason for your financial catasrophe? posted by Old lurker on April 27, 2004 at 00:04:44:

I grew up in an upper middle class neighborhood, my father made high 6 figures and we never went without BUT my father taught us how to write checks and balance the books, responsability with money and I had excellent credit until my divorce. I got scared because my lawyer told me my ex would NEVER agree to pay 1/2 of our joint debts so I took all my credit cards in my name only and all of the joint ones. I was working full time as a bank teller in FL (this was 1996)for $7.50 an hour, I was bringing home $12k a year for me and my daughter. My Dad paid a lot of my bills including 1/2 of the apartment I was renting with my ex. NO ONE can ever be prepared for financial woes, not even the rich. When the stock market crashed (was it 85-86) there was the biggest suicide rate ever and mostly by rich people who could not afford the lifestyle they were leading anymore. People lost jobs and life was rough. My parents had 5 kids...no one has than many kids these days unless you are Mel Gibson and make millions off the Passion. I have paid off all of my debt...it took me 9 years and my credit is ruined but I took responsability for it. I racked up debt with my ex because at the time we were making tons of money. Things like divorce, illness, job loss, death happen and all of us here have learned a lesson about credit. I am glad I found this board because I was one of the people in this world who got caught up in money. To say one can be prepared for changes in life is not right...my parents saved and saved and on 9/11 once again the stock market crashed and my 70 year old retired Father lost 1.5 MILLION of his retirement money. They will now run out of money before they die. They can live in a shack and eat 1 meal a day but it still wouldn't help...and he was a smart saver and it DIDN'T HELP! Money is the root of all evil...I am convinced of that. I knew a guy who told me the worst thing that ever happened to him was winning the lottery...everyone is your friend all of a sudden, you think you have it all and it is gone before the ink has time to dry on the bills.
I'm off my soapbox now if anyone wants to jump on...
1 more thought...most people on welfare make more than I do a year. You tell me where the problem is in this country...


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