RadioBanter - Cobra 10 Meter Amateur Radios

"Vinnie S." wrote in message
...
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.

Again, it all comes down to priorities. Do you NEED that $225k house? If
necessary you COULD live in an apartment. I'm not saying that you should
sell your house and move so let's not go there. Did you NEED that new car
or was it just nice to have? You could have bought very good a used car for
$9000 of that and had NO car payment. Do you mean $400 balance in credit
cards or $400/month payments? $400/month payments means you have quite a
balance and are spending more than you make.

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.

I have a wife and five kids, no house payment (house is paid-for), no car
payments (paid cash), no CC balances, they get paid in full every month. So
yes if I took a "60% pay cut" we would survive. We could do without cell
phones, high speed internet, satellite TV, eating out, trips to the beach,
etc. We would have enough for food, electricity, etc.

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.

Then they aren't saving enough for that "rainy day." If you are "living
from paycheck to paycheck" then you need to cut back no matter how big your
paycheck is.

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.

You are very wise! Many would be in trouble by the time the next paycheck
is scheduled to arrive!

Kevin, WB5RUE

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