toedtoes wrote:
Folks knock it off!
First, the OP was simply asking if there was an easy formula/percentage to help decide how much to spend. He wasn't asking for our approval to spend more than he could afford.
Second, it's really great to sit here declaring that 30% of the world is stupid and lazy and selfish. But, maybe instead of sitting around b!!ching about them and demanding they be put in debtors prison, maybe you should be pushing for budgeting courses in our schools, maybe you should be teaching our youth, maybe you should be holding "financial experts" accountable for pushing bad choices on people without the skills or knowledge to understand, maybe you should walk a mile in someone else's shoes before deciding they don't deserve any help.
I would also like to add, this is a top down process. Starting at the Federal, State and local governments and on to corporations. Time for do as I do instead of do as I say philosophy. People are simply emulating what they see others of vastly higher resources doing. After all, why can't a person be too big to fail. Everyone gets a do over. It used to be a shame when a company or person declared bankruptcy. Now it seems like a badge of honor. Remember the "strategic default" method people and companies were using a few years ago to force lenders hands in renegotiating contracts.
