I live in poverty???

[Maverick21]

Only accounted for 48 weeks up there. Should be 22314/52=429.12/40= $10.72/hr. Just FYI

I was raised in a family that was very good with their money and learned a long time ago that you don't need a huge paycheck to provide for a family as long as you live within your means. Sounds like you've got it pretty much figured out.

 

[Big50]

That would be $429.11 per week at $10.72 per hour

 

[Bleedsorange]

My Grandpa always told me: "If your out-go exceeds your income, your up keep will be your downfall"

Good words to live by.

 

[nofearfactor]

My Grandpa always told me: "If your out-go exceeds your income, your up keep will be your downfall". Good words to live by.

I live by that and always have.

I just had this conversation with my kid the other day. He wanted to know what 'class' we were in. I told him I honestly dont know any more these days. I told him I think we're the last of the middle class but that things are slowly eroding into 2 classes- the very rich and the very poor and that we're still trying to hold down the middle somehow.

We just dont need flashy stuff because me and his mom were neither one raised that way and it just isnt me any ways. I dress down in a style my kids call my 'prison issue look'. I dont like flashy new cars, I like old hot rods and 4x4s, old motorcycles, etc. My friends are all musicians, tattoo artists, bikers, whatever.

I grew up in a 2 family situation via divorce basically living in 2 different types of lives. My dad was a hard working single parent who ran an auto body/mechanic shop by day and a BBQ and beer joint at night. He did the best he could taking care of me and my 3 older half sibs in southern California. He worked hard and he partied hard. Me and them also lived with their mother some times down in OC when my dad would be on a drinking binge. He was a tough guy. Ex Marine. A veteran. Old skool biker from the 50s,60s. A cash only guy who only used his one credit card when he booked a flight or rented a car or something big broke and we needed it.

He taught me well I guess cause I still live like that today even though I have more investments than my dad ever had. When he died we had to sell off his shop and bar and after the lawyers we split what was left. My mom and stepdad on the other hand I guess are considered upper class- my mom was a banker/realtor and my stepdad was a county school superintendant in Oklahoma and they had the large incomes, big house, cars, etc. My step sibs lived like they were royalty in their little Oklahoma town. I wasnt used to their style of living when I would go stay with my mom and definitely always felt out of place there. Still do. Theyre what my dad liked to call 'fat cats'. Today theyre all in successful careers and living the high life.

So back to my kid. I told him that some of his little buddies most likely have parents who live on tons of credit and may look rich but really arent and if they lost their high paying jobs then they would be forced to pay off the huge amount of debt they were carrying or probably lose everything and be sleeping in the car down by the river like so many people are these days and he can feel comfortable that we're totally 100% in the black. Only things we owe are our utilities and daily expenses.

My mom never talked about their money or our financial situation with me and she was a banker. She has always spoiled us too much by always trying to give us money and always wanting to pay for our stuff. I am so the opposite of that its not even funny. Me and my kids I like to be open with them. If they want something we dont provide them they know that they have to work for it. Not just around the house chores either, that isnt working for it, thats stuff they have to do to pull their weight. They have to find their source of income to buy what they want if it is beyond the basics of life that we are obligated to provide them by law- food, clothing, a home, etc. My 19 yr old stepdaughter who Ive raised since she was 11 just sent me a letter the other day telling me thanx for always making her do things on her own financially because she is really feeling independant out on her own. I did put money in trusts for my kids and my stepkids when they were young so they had money for college and whatever after they leave home so that they dont start out their adult lives in the hole like I did. And she has yet to tap into it. She paid her first year of college off working 2 jobs. My oldest kid just graduated college in May with no debt and is already in a job. It feels good knowing your kids are accomplishing things in life.

My wife makes good money for Oklahoma, but if I talked her into moving back home to California with me then what she makes here would be not enough there. And shes one of a dying breed- someone who has been on the same job 27 years. Her fat 401k though has taken a beating this year. Im self employed, have been my whole life. Besides my careers I own some prime real estate in California and have a few investments. We bought a comfortable modest home that looks almost like all of the others in our older residential area outside the big city when we got together and its paid it off. Her car is 5 years old and paid off, she buys a new one about every 6 years and drives them until theyre paid off. She keeps em maintained herself too. I prefer to buy mine used and mod em. My property in California was left to me by my grandfather, so that was sort of a blessing I guess. My businesses Ive spent 20 years building, and Im in probably the last few years of a music playing career. I have one credit card and my wife has one. We like to use either cash or our bank checking account debit cards which we have our incomes direct deposited to. We have a joint savings account we both dump extra money into that gets used for stuff to maintain the home, cars, whatever. My investments that Ive been building for the last 20 years and my real estate I consider are for my retirement, thats basically my 401k fund. So, I dont think we're rich and we sure arent poor. Comfortable. Prudent. Every one calls me a cheap basturd, but I got that from my dad. Being like that may come in handy some day. My wife was raised comfortable, but not rich by any means. Her dad is a retired AA plane inspector. She doesnt have any big needs or spend her hard earned money on frivalous stuff. Her one vice is she likes to travel, and I whim her by either going with her when I can or she goes with her sister or her BFFs. I married well, this time.

 

[cal7.62x39]

Thanks maverick and big50. My math was correct but my approach was off thanks for the correction. Yay I'm not in poverty, so would that put me in bottom 99% lower class then? Mehh where ever my family is were content and happy. Thanks for the support and feedback OSA