Quote:
Originally posted by turbo6bar
The masses need only pick up pitchforks to end the game.
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The masses can't afford pitchforks
Most people in debt in this country have no one to blame but themselves.
During tax season I volunteer on the base to do taxes for young enlisted families. The variance in the debt to earning ratio between familes is astounding.
There are some folks (usually young, single males) that will never get out of debt unless they dramatically change their spending behaviors.
Others, generally young married couples where the wife runs the budget, have very enviable asset portfolios. They may be driving a nine-year old minivan, but they have begun to take very positive financial journey.
The old rules concerning %'s of gross and net income to debt service on large expenditures is as true today as it was fifty years ago...problem is few people in the US follow the rules but feel compelled to blame others.