On Mon, 2 May 2005 11:17:14 -0500, "Kevin, WB5RUE" wrote:

"Vinnie S." wrote in message
.. .
On Tue, 26 Apr 2005 13:19:22 -0500, "Kevin, WB5RUE"
wrote:


$10/hour is MUCH better than 0$/hour!

Kevin, WB5RUE


Not if you purchased a home, car, and pay property taxes based on your
ability
to earn $25.

Vinnie S.

It all comes down to priorities. You don't NEED a new car, 2500sqft house,
health club membership, Platinum MasterCard w/$10k balance....

Nonsense. I have a 1300 Sq foot house, 1900 if you count the finished basement.
I paid $225,000. I have a car I bought new for $17,500. I put $9,000 down. I
have about $400 outstanding credit card bills. No kids. I do not have any
re-occcuring bills like a health club. If I lose my job and make $10 per hour, I
am losing everything listed above.


If you pay cash for everything and save what you don't spend then a job loss
or salary reduction isn't so devastating.

So what you are telling me, is that if your family took a 60% pay cut, you would
be OK? I don't think so.

Yes I know the "American way" is
to spend more than you make and then, hopefully, be able to make the
payments between spending sprees.

There is alot of people like me, whose only bills are a mortgage and a car
payment, aside from the utilities/etc. If you cut their pay by 60%, their all in
trouble.


BTW, I took precaution and have 1 year's worth of mortgage payments in the bank,
in case this ever happens. So to answer your question, I would have 1 year
before I would be in trouble.

Vinnie S.