Debt: A Love Story

posted 2 months ago in Beehive
Post # 31
Member
1152 posts
Bumble bee
  • Wedding: June 2019 - Tacoma, WA

beantime :  I need to find this show and watch it! It sounds awesome!!

Post # 32
Member
1718 posts
Bumble bee
  • Wedding: June 2019

My dad taught us the dangers of debt when we were literally seven years old and started getting our allowances. 

Best parenting move he ever did, and he’s done a helluva lot of good ones.

Post # 33
Member
1330 posts
Bumble bee

They’re in this position because they are living a lifestyle they can’t afford, they’re living like they earn double what they actually do. I’ve met a few people like this (my future mother and father in law included) and they said they (and their kids) were so accustomed to this lifestyle (including private school) that they felt they couldn’t make cutbacks because it would be embarrass them in front of their friends and be unfair on the kids. E.g. not buying them the latest IPhone for Xmas, sending them to a state school instead, not going on expensive skiing trips with their family friends etc.

I personally think that’s ridiculous, but this is probably their mindset. They’ve spoilt their kids (and themselves) for so long that if they tried to live more frugally their kids would feel like they’re being punished and kick up a hell of a fuss and people would know they’re having money problems.

They’ve made rods for their own backs trying to live and project a lavish lifestyle they can’t afford and it’s going to be really hard and probably embarrassing for them to make the changes they need to turn their finances around. At this point is either this or file for bankrupcy and lose everything, I know which option I would take, but then again I’m not a materialistic person and I don’t care whether people think I am wealthy or not. 

Post # 34
Member
13590 posts
Honey Beekeeper
  • Wedding: November 1999

This story makes me so angry.  These people are so financially irresponsible and it really doesn’t seem like they care.

Post # 35
Member
2503 posts
Sugar bee

I grew up with a mom like this – borrowing money from her parents and then blowing through it, never budgeting or saving a rainy day fund, maxing out credit cards and eventually filing for bankruptcy. Constantly saying she was broke but then buying useless stuff at Costco because “it was on sale” and getting takeout and offering to cover the bill for meals she couldn’t afford. In her case, it’s one of many ways her mental illness(es) manifests. And I really do think that getting to debt at the level of the people in this article probably indicates mental illness — it takes a certain amount of delusion, compulsion, and addictive tendencies to get there. 

This couple clearly is living beyond their means on a salary that should support them comfortably. They live in an expensive area so I am not surprised that they could rack up that amount of debt if they feel they are entitled to live in a beautiful home in an upscale Boston suburb, trying to keep up with their wealthy neighbors… but that is a very expensive lifestyle and obviously not one they can afford. There is a reason their neighbor is someone who “built half the town”, it takes deep pockets to live like that. 

Post # 36
Member
1075 posts
Bumble bee
  • Wedding: August 2019

I’m shitty that these people decided to have kids and pass their rubbish spending habits on to the next generation. Like way to show your kids it’s ok to take advantage of family members and spend yourselves into poverty because “he really likes sushi tho”

Post # 38
Member
1994 posts
Buzzing bee
  • Wedding: May 2016

somedaymrsj :  i also found it on youtube. 

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