Weekend Reading
Today has been a lazy, lounge day for me. Nice, slow, and relaxing. I’m back to my regular schedule of every other Friday off and it makes me so happy because I’ve done absolutely nothing all day. I received my Sex and the City movie on DVD and I’ve already watched it twice. LOL I baked a whole chicken, rice, gravy, and greens so BabyGirl can have dinner before she goes to work. I also sorted through all the mail and paid bills online. Nice, slow, and relaxing.
Now I’m reading articles online and this is what I’ve enjoyed so far:
Historic bailout bill passes Congress and Bush signs it
Could you survive on half your pay?
Market in sharp decline, stocks on sale?
The end of the shopaholic nation?
Stressed mothers raise fat children
50 most powerful women in business
I’m still reading and may update this post later with more links.
I hope you all have a GREEEEEEEEEEEEAT weekend!
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Did not read all the articles mentioned yet, only couple of them, however the one about half pay I probably will not read Why not? [-SM] – most people would not be able to survive on half their pay, because if they are already paying one third of their pay towards shelter expenses alone that would mean that they would have to fork over 2/3 of their earnings for roof over their head alone I can barely understand what you’re trying to say here – 1/3 for “shelter expenses” and 2/3 for “roof over their head” – isn’t that the same thing? Regardless, if this is true for your personal situation, speak for yourself, but do not make a broad assumption and speak for “most people.” [-SM]. I am in New York and I know that 11 years ago when I got my first job out of college I made about 1/3 of what I make now and was able to live on it with a kid and pay a rent for one bedroom apartment. Nowdays if I had to live on even half of my salary as of today , I would not be able to cover my rent for modest two bedroom apartment in the same area – my rent is now double of what I paid and transportation costs are double and paying for groceries is like watching a horror movie – lots of scary moments and nothing of substance really. It’s true, costs are increasing at a much higher rate than salaries. However, just because it isn’t possible for YOU to live on 1/2 your income, based on your personal choices of course, doesn’t make it impossible for “most” people. I live in a very expensive DC suburb, but my household expenses are approx. 25% of my net income. I think living on 1/2 of one’s income is an interesting concept. I don’t know if I can do it (maybe I’ll try), but I certainly wouldn’t dismiss the notion and assume it’s impossible for most people because of xyz. [-SM]
What I was trying to say is that if your rent is 1/3 of your take home pay, then it would be 2/3 of your pay if you shall take a 50% pay cut. I am going to read an article, perhaps tomorrow, been working whole weekend-quarter end, I was not condemning your choice of articles (didn’t say you were [-SM]), I was just stating the fact (this isn’t fact, it is your opinion [-SM]) that it would be two times as much expensive shall anyone be forced to do so and this woulld be definetely painful. What would be more expensive? The cost of your living expenses would not change, you would just live on less. Why is that concept so foreign? Perhaps, we have different ways of viewing things. Most of my household expenses are fixed, even my utilities can be estimated with a degree of accuracy. Regardless of how much I make, my household expenses will remain the same – unless I choose to trade up. However, if I choose (I wouldn’t be forced) to live on 1/2 my income, I’d focus on reducing excess spending on non-necessities. Perhaps, even reduce fixed expenses, if necessary. I would not view it as being more expensive or painful. It would simply be a choice. [-SM]
you also have to consider that median gross income for an average American is about $52K or so, therefore where you personally have 25% in expenses, others might have close to 35-40% in household expenses. Yes, I realize that, but I did not make a sweeping blanket statement as if everyone’s circumstances were like mine. However, you did. Therefore, I was illustrating an exception. Besides, neither I nor the article specified a number. It simply asked if could you survive on 1/2 of YOUR pay. I’m sure it would be easier for some than others, but certainly not impossible. It’s all about choices – the core of personal finance. [-SM]
Everything is relative (true [-SM]), I am not dismission the notion, I would not mind spending only half of what I earn on rent, transportation, groceries, etc and save the other half, however the reality of living in a state with one of the highest tax rates, it would be tough (For YOU, ok. [-SM]) I was just expressing my opinion, not knocking anyone down or anything. There’s nothing wrong with expressing your opinion or making a statement about your personal situation, but when you say things like “most people,” you are generalizing as if your situation is the norm, when it isn’t. I’m sure there are many people living in NY who survive on 1/2 the avg income. Have you read these? [-SM]
See your point there, read some.
Yes, some people can still live on a cheap even in NY, but I have to tell you that most NYorkers are struggling especially when it comes to rent. Let’s close this issue. we can debate for ever on this one.
There is nothing to debate. My point is, if YOU can’t live on 1/2 YOUR income, that’s fine. End of story. In fact, had you said that, I wouldn’t have responded. Problem is, you made a blanket statement that insinuated it is impossible for anyone to live on 1/2 their income just because they live in NY. Many NYers are savers, many more than you may think. Frugality and saving isn’t mainstream news because it doesn’t invoke emotion, but don’t assume EVERYONE is struggling. [-SM]
I don’t assume anything.
By saying “most people,” you are making an assumption because you can’t speak for “most people.” Frankly, this back and forth is boring me to death because you fail to support your position on why you assume “most people” can’t live on 1/2 their income. YOU can’t do it, perhaps. But you certainly can’t speak for “most people.”
that is why I said lets close this issue, it was really nothing to debate about, I just made a comment, should not have said most people, my bad. I am moving onto reading your next post. See you there