I have read a ton of personal finance articles over the last year, but this one I only had to skim to realize it was the most ridiculous cure to personal debt i've ever read.
http://www.thestreet.com/story/10434590/1/10-tough-ways-to-boost-your-bottom-line.html
There are probably a few people in this country capable of that sort of sacrifice, but those are the people who don't need this advice anyway. They have been living that way for awhile. For normal people these suggestions are completely outrageous yet obvious. If Americans found it so easy to give these luxuries up we wouldn't be in the financial crisis we are now. Telling people the quickest way out of their debt is to give up there car, their electronics, and their house and 50% of their income? How can families survive off 50%? With all the little expenses and fees that come along with a child it is next to impossible. And start a new business? If only everyone was capable of that.
Ridiculous. Just ridiculous.
the most ridiculous personal finance article i've ever read....
8:23 AM
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2 comments:
Let's say I wanted to do all those things, or 75%...is it even humanly possible???
I would love to hear of someone who did the majority of those things. And then I would ask them how sweet their life is with no Christmas, car, house, money (saved, then spent on a opening a business), and new clothes. Debt free, woooooooo!
Smaller house is dooable for me. So would be the no-spend Christmas, entertain yourself and no eating out.. The car is completely impossible because I live out in the sticks and need my car.Also, the gadget thing would be hard b/c my husband works with computers. But I know it would be very difficult for me and my family to live off of only 50% of our income.
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