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I'm "low-rich" (middle class?) poor eg. I have a six-fig job but I also have almost six-fig of debt, so I have after paying all my bills (mostly debt) almost no

by ge96 1y ago

I'm "low-rich" (middle class?) poor eg. I have a six-fig job but I also have almost six-fig of debt, so I have after paying all my bills (mostly debt) almost nothing left. But I have an apt/cool cheap car, toys like 2nd hand computers/cameras. I've been in debt for the last 15 years since I went into college. I don't eat canned food often actually trying to fast as it's hard to not gain weight when I spend most of my time sitting in a chair in front of a computer. I do recreational drinking so it's not like I'm absolutely poor.

tavavex 1y ago
To me it's still insane that education (the implied reason for your debt? correct me if I'm wrong) is so absurdly expensive in the US. Mind you, I'm saying that from another country where education isn't free, but most people will never be able to have anything remotely approaching six figure debt. You presumably work in a professional field, judging by your salary, yet you have an enormous anchor that's been dragging behind you for all your life. In some ways, the high-lower-class person that has a poor salary but isn't indebted might have it better than you. I wonder how much society would change if that system of student loans was reformed to offload the burden from young people, how much more growth there could be if these people weren't stuck in debt.
- ge96 1y ago
  My student loans weren't as bad $30K, the rest is from other things eg. CC debt/car loan (28% APR). I also help out my own blood-related family eg. I have given away over $100K over the course of a few years. But mostly I'm dumb, buying things I can't afford. The six-fig jobs come and go also but in general I've had at least $75-$83K jobs aside from the couple six-fig jobs I've had. I only started to have that kind of money in 2019 to now. I spent 2023 working in a warehouse/my own fault that time I went down to the $50K range or so with side gig work added in to warehouse work. I did pay $3K for an MRI one time, well not yet it's on a defaulted card. Oh and loneliness eg. I spent $1.2K at a strip club one time. It's crazy how you go up in levels though like in 2016 I was living on $20K+ a year, now it's $100K+ a year
bluGill 1y ago
That is the way it should be. Well more or less, you didn't state what your debt is from, some are better than others. College debt can be a good investment long term (depends on the degree). Buying a house is a good long term investment if you live there for a long time. You should save for retirement and a "rainy day". However remember you can't take it with you. If you have the above savings, an extra penny, and something to spend a penny on spend it. You can't take it with you, so you should be at 0 at the end of every month (again ignoring retirement and rainy day savings)
- ge96 1y ago
  I didn't finish my degree but I got lucky I picked up programming/built up a good work history yeah once I get to $0 net worth I'll start saving/investing

by ge96 1y ago

tavavex 1y ago

To me it's still insane that education (the implied reason for your debt? correct me if I'm wrong) is so absurdly expensive in the US. Mind you, I'm saying that from another country where education isn't free, but most people will never be able to have anything remotely approaching six figure debt. You presumably work in a professional field, judging by your salary, yet you have an enormous anchor that's been dragging behind you for all your life. In some ways, the high-lower-class person that has a poor salary but isn't indebted might have it better than you. I wonder how much society would change if that system of student loans was reformed to offload the burden from young people, how much more growth there could be if these people weren't stuck in debt.

ge96 1y ago
My student loans weren't as bad $30K, the rest is from other things eg. CC debt/car loan (28% APR). I also help out my own blood-related family eg. I have given away over $100K over the course of a few years. But mostly I'm dumb, buying things I can't afford. The six-fig jobs come and go also but in general I've had at least $75-$83K jobs aside from the couple six-fig jobs I've had. I only started to have that kind of money in 2019 to now. I spent 2023 working in a warehouse/my own fault that time I went down to the $50K range or so with side gig work added in to warehouse work. I did pay $3K for an MRI one time, well not yet it's on a defaulted card. Oh and loneliness eg. I spent $1.2K at a strip club one time. It's crazy how you go up in levels though like in 2016 I was living on $20K+ a year, now it's $100K+ a year

bluGill 1y ago

That is the way it should be. Well more or less, you didn't state what your debt is from, some are better than others. College debt can be a good investment long term (depends on the degree). Buying a house is a good long term investment if you live there for a long time. You should save for retirement and a "rainy day". However remember you can't take it with you. If you have the above savings, an extra penny, and something to spend a penny on spend it. You can't take it with you, so you should be at 0 at the end of every month (again ignoring retirement and rainy day savings)

ge96 1y ago
I didn't finish my degree but I got lucky I picked up programming/built up a good work history yeah once I get to $0 net worth I'll start saving/investing