7 ms·
X% of net worth is still a bigger deal to someone with a net worth of $20 than to someone with a net worth of $20M, even though the latter may get some sticker
by kingofmen 7mo ago
X% of net worth is still a bigger deal to someone with a net worth of $20 than to someone with a net worth of $20M, even though the latter may get some sticker shock. And it's possible (if rare) to have a reasonably middle-class lifestyle and an actually negative net worth. Presumably you would not make it possible to pay off student loans by repeatedly violating a red light, although it would be very funny.
- rkomorn 7mo ago> Presumably you would not make it possible to pay off student loans by repeatedly violating a red light I lack the context and knowledge to understand how this would work, but I am curious (enough to ask but not enough to google it, admittedly).
- fc417fc802 7mo agoThe joke being that if your net worth is negative the fine will be negative.
- rkomorn 7mo agoMan, I missed that by a mile. Thanks. :D
- 5o1ecist 7mo ago[dead]
- dhosek 7mo agoYou’d be surprised at the numbers of people living middle-class lifestyles with negative net worth. Credit card debt, car loans (with a too-small down payment, a car purchase can easily cause one’s net worth to decline the second you take delivery on the car), underwater mortgages, not to mention student loans.
- account42 7mo agoA car purchase should mean the car counts towards your new net worth. So if it makes your net worth negative you either had almost none to begin with or paid much more for the car than it is worth.