tag:blogger.com,1999:blog-12364613.post6518132224924094009..comments2024-02-02T07:13:37.313-06:00Comments on Like Merchant Ships: Response to lectureUnknownnoreply@blogger.comBlogger44125tag:blogger.com,1999:blog-12364613.post-8822208190903392992008-06-01T19:00:00.000-05:002008-06-01T19:00:00.000-05:00Our family is a 1.2 worker family - I work part ti...Our family is a 1.2 worker family - I work part time. We are kind of above average in income and we have only a mortgage and car payment for debt. We have fairly substantial savings and will continue to build savings, and live rather modestly within our means. We are very slow about large expenses, and we see them coming and plan for them. Last year we did a new roof on the house, with cash, and now we'll hold off on large purchases for as long as possible. We also try to minimize eating out and entertainment expenses, etc. <BR/><BR/>I think we are blessed, lucky and we've done a pretty good job of managing money, limiting our debt, and deferring expenses / saving ahead. <BR/><BR/>Warren does a good job of outlining the risks to families, and ours are certainly the same -- a big time illness or disability could quickly wipe us out and all our savings. A job loss we could probably survive, but it would be much harder now with 3 kids than when my husband was laid off two times when we did not have kids. <BR/><BR/>One of our greatest blessings is stable, supportive extended family. They are self-sufficient, and in an emergency, we would be there for each other. Of course, family provides a lot of protection and stability, education, and my husband and I have a strong marriage, which is extremely valuable.<BR/><BR/>What's also very valuable is our community relationships -- work network, church network, all the people we know who could help in case of emergency, even just offering prayers, hugs and listening.<BR/><BR/>I think we need to focus on staying healthy, and continuing to build savings to protect our family from the potential disaster scenarios.Karenhttps://www.blogger.com/profile/07398765438599269210noreply@blogger.comtag:blogger.com,1999:blog-12364613.post-65281178814221930832008-06-01T07:33:00.000-05:002008-06-01T07:33:00.000-05:00I really think that it is all attitude. We have qu...I really think that it is all attitude. <BR/><BR/>We have quite a bit of money now, because my husband has a good job, but it was not always that way.<BR/><BR/>When the kids were small, we lived with no TV, no cable, and we bought all second hand. But we still managed to tithe and save for a downpayment on a house and feel like we had a rich life.<BR/><BR/>And we didn't have the worry about debt.<BR/><BR/>How you live is really all in your attitude. It's all about what you're going to be satisfied with!<BR/><BR/><I>Visit <A HREF="http://tolovehonorandvacuum.blogspot.com" REL="nofollow">To Love, Honor and Vacuum</A> today!</I>Sheilahttps://www.blogger.com/profile/06842674051346091248noreply@blogger.comtag:blogger.com,1999:blog-12364613.post-22233587113340659512008-05-31T17:45:00.000-05:002008-05-31T17:45:00.000-05:00Wow, so true Meredith. My husband and I both work...Wow, so true Meredith. My husband and I both work part-time jobs, but when we bought this house we barely moved up, have always pd. cash for cars, basically what your list says.<BR/><BR/>I like your response!Sandyhttps://www.blogger.com/profile/08910644413175366761noreply@blogger.comtag:blogger.com,1999:blog-12364613.post-62756052525132241112008-05-31T12:06:00.000-05:002008-05-31T12:06:00.000-05:00For the majority of our marriage I have bee...For the majority of our marriage I have been an a SAHHM (stay at home homeschooling mom) and we have lived off of one income. We live in the expensive northeast and make between 30K- 35K a year.<BR/><BR/>A couple of summers ago I worked for the local summer recreation program. I found during that short summer stint, that my working outside the home really didn't bring any extra money in. I had to bring lunches for me and the kids (we also brought stuff to share for the kids that didn't bring anything), it cost my money to have my kids there (yes, I got a discount), gas money, and any of the trivial things that added up. <BR/><BR/>I really believe this country has fallen into a "2 income trap". The "needs" that we have are really "wants" and not necessary at all. <BR/><BR/>Thanks Meredith for the inspiring post!! :0)rural mommahttps://www.blogger.com/profile/13959205387717953570noreply@blogger.comtag:blogger.com,1999:blog-12364613.post-21510185136646958212008-05-30T20:11:00.000-05:002008-05-30T20:11:00.000-05:00Straight up sister! :0)Straight up sister! :0)Andreahttps://www.blogger.com/profile/13340747377984251389noreply@blogger.comtag:blogger.com,1999:blog-12364613.post-77277595776732171942008-05-30T15:13:00.000-05:002008-05-30T15:13:00.000-05:00I understand what tha author's point is but I feel...I understand what tha author's point is but I feel that there is still the implication that two income families inherently are irresponsible. I work full time as does my husband because we both want to. I love my job. Our house payment is 1/7 of our monthly take home pay. We save 20% of our income for retirement and also save for our childrens' education. I make quite a bit of money and my take home pay far outweighs the expense for clothing, gas, etc that everyone lists as reasons not to work outside the home. I realize that is partly an argument about how Americans spend too much and save too little. But that is true of many Americans regardless of how many incomes their household has and not because they are two income. It still smacks to me of the tired out argument of whether women staying at home is better than women who work outside the home.Abbyhttps://www.blogger.com/profile/08641747275481781814noreply@blogger.comtag:blogger.com,1999:blog-12364613.post-85112827837342829522008-05-30T12:51:00.000-05:002008-05-30T12:51:00.000-05:00Little things DO make a difference. Break out the...Little things DO make a difference. Break out the credit card statements of someone $10,000 in debt and struggling. What will you see? <BR/><BR/>Not $3,000 tropical vacations.<BR/>Not $40,000 cars.<BR/><BR/>You will see something like this:<BR/><BR/>Barnes & Noble $23.00<BR/>McDonalds $13.50<BR/>Pizza Hut $35.00<BR/>Wal Mart $125.00<BR/><BR/>It's like the old joke - how do you eat a 10-lb salami? One slice at a time. Americans are bankrupting themselves one SWIPE at a time.<BR/><BR/>Instead of cooking at home, they're eating out. Instead of getting books from the library, they buy them sight unseen. Instead of buying used baby clothes and cloth diapers, everything is disposable and bought new.<BR/><BR/>Frugality sends you into another mindset. Do I really need this? Is there another way to get what I need? What will this cost in the future?<BR/><BR/>In addition, sometimes I think people get into the "monthly mindset". I have a cellular phone (Tracfone) that costs me $5 per month. Now, that doesn't sound like a lot. But it is really $60 per year, and if my husband has one as well, it's $120 per year. Stash that $10 into a 5% interest bearing savings account every month and you have almost $123, which can buy me at least a year's worth of secondhand clothing. Sock your cell phone money away for 30 years until retirement in an 8% mutual fund, and it will be worth almost $15,000. Now for me, the security of having a cell phone is worth it, but most people would just think "aw, $5 a month is nothing." Now imagine the people who spend $50 per month on each cell phone!<BR/><BR/>Also, people need to ask what are really "necessities" - is a $100,000 a necessity? Or will a $75,000 do?<BR/><BR/>It adds up!!!Courtney Imberthttps://www.blogger.com/profile/16141030178642900681noreply@blogger.comtag:blogger.com,1999:blog-12364613.post-2969706868988999802008-05-30T12:40:00.000-05:002008-05-30T12:40:00.000-05:00I haven't yet had a chance to watch the video but ...I haven't yet had a chance to watch the video but have it scheduled for this weekend. After reading some of the comments as well as your take on it, I couldn't agree more.<BR/><BR/>I have peace in the fact that if anything were to happen to my husband, I could pick up some extra money on the side. Hubs can work an extra shift if things are tight. When you live to the fullest with 2 incomes, there is no wiggle room. That would stress me out.<BR/><BR/>Small decisions do make it easier to live a frugal lifestyle. But let's not forget some of the bigger things. Think of the home maintenance areas where you can save. There are so many "how to" instructionals online or even through your local Home Depot/Lowe's. We have repaired some simple plumbing and electrical issues (like switching out a broken outlet or installing a ceiling fan.. nothing dangerous) and saved hundreds of dollars.<BR/><BR/>As for the children's schooling, we live in an area where we could afford a home. It does not have the best school district. Because I am able to stay home, we have opted to homeschool, rather than spend money we don't have to live in a better community with a school with higher standards.TracyMichelehttps://www.blogger.com/profile/03229503241864939021noreply@blogger.comtag:blogger.com,1999:blog-12364613.post-34976703497757773632008-05-30T12:05:00.000-05:002008-05-30T12:05:00.000-05:00Our daughter was seriously ill for the first 9 yea...Our daughter was seriously ill for the first 9 years of her life. We paid off her (after-insurance) medical bills in time for her to go to college next year. We've also had a period of joblessness. Because of this, we've always lived on the cusp. My husband has a decent corporate job and I'm self-employed. Even so, an unexpected expense or job loss would cripple us financially once again.<BR/><BR/>The lecture left me with conflicting ideas:<BR/><BR/>1. if it's so difficult to stay in the middle class, what's the point in trying?<BR/><BR/>OR<BR/><BR/>2. all the little decisions mean so much more when the deck is stacked against us.<BR/><BR/>The lecturer said there were five large areas of increase:<BR/><BR/>1. Housing -- we can live below the 'normal' level of housing or consider co-housing<BR/>2. Taxes -- become a well-informed voter and help to educate others<BR/>3. Health care -- in this nation with epidemic obesity, we should address our health issues preventitively<BR/>4. Child Care -- a one-income family won't have child care costs<BR/>5. Multiple cars -- can we learn to live with just one car again?<BR/><BR/>When I feel overwhelmed with worry, I remember that there's a God that I choose to trust with my future.<BR/><BR/>Thanks for the thought-provoking post. This subject will keep churning in my head for a long time, I'm sure.Debby Brownhttps://www.blogger.com/profile/16760830726436837922noreply@blogger.comtag:blogger.com,1999:blog-12364613.post-29770373810167217992008-05-30T10:12:00.000-05:002008-05-30T10:12:00.000-05:00Mrs L. I believe the answer to your question is th...Mrs L. I believe the answer to your question is that the percentages are lower now as salaries were much lower in the 70's than now. <BR/>My first job was in 1974 and I only made $1.96 per hour. My daughter is making almost $9 per hour at her first job. <BR/>Cost on individual items maybe higher but the overall percentages are lower.Carrie Jhttps://www.blogger.com/profile/17061525009581491902noreply@blogger.comtag:blogger.com,1999:blog-12364613.post-19334464853062942812008-05-30T07:29:00.000-05:002008-05-30T07:29:00.000-05:00Speaking from experience, 2 incomes is a trap. We ...Speaking from experience, 2 incomes is a trap. We bought our house based on two incomes, before we had kids. I thought that teaching would be a good job to keep once I had kids. I taught one school year, and then stopped. I was pregnant with the second child, and daycare at a decent (not good) place would have cost half my check. We sold our house, rented something much smaller. I started using cloth diapers. We started doing a lot more bargain shopping and doing without. We started a garden (still learning to make it actually produce), we cut back to one vehicle (my husband drives a company vehicle to his job, and the rest of the time we just go together or one of us stays home.) Recently, we have almost had to cut out leaving home, except for church, b/c we live in the country and gas into town adds up. But we are much happier than when half my checks went to keeping me in the workplace (daycare, formula vs. breastmilk, disposable diapers, more clothes for everyone, convience meals, gas, etc.)Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-12364613.post-28940419353101217362008-05-30T06:46:00.000-05:002008-05-30T06:46:00.000-05:00One thing that hasn't been mentioned much here is ...One thing that hasn't been mentioned much here is how to save in regard to education. My husband and I both work in higher education (I'm part-time and stopping when our baby arrives this summer). But we have come to see that so many students in college today are here just because it's the "next step." They don't really know what they want to do and while college can CERTAINLY help with that (that's been my job!) it can make costs rack up as students switch between majors and extend their time in college. Likewise, I am a big advocate of community colleges. My husband and I both have 4 year degrees from large state institutions, and a graduate degree. I was blessed to have funding throughout, but we had to work on my husband's debt when we graduated. We had a friend who got the same master's degree as we did, paid for her entire education herself, and ended up with a higher level job after graduating and she had no debt because she spent her first two years at a community college. <BR/>Just some thoughts!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-12364613.post-8831722955506473452008-05-30T06:44:00.000-05:002008-05-30T06:44:00.000-05:00Maybe the reason house prices have risen so much i...Maybe the reason house prices have risen so much is that with two wage earners houses are priced at what the market will bear ?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-12364613.post-16616207161422276022008-05-30T06:05:00.000-05:002008-05-30T06:05:00.000-05:00That lecture has been a topic of much discussion a...That lecture has been a topic of much discussion around here! <BR/><BR/>In an odd juxtaposition of timing, I was 10 in 1970 (the comparison starting point in Dr.'s lecture), my daughter is 11 now. <BR/><BR/>YES, things are harder for us as a 1-income family than for my parents. I have struggled to understand why, even though my husband's income is comparable to my father's in 1970.<BR/><BR/>For us it is ABSOLUTELY the health care, private Christian education and exhorbitant housing costs (for the same size home in which we were raised). For instance, we own our own business and best health insurance prices for family of 4 around here: $2000.00 a month. Not counting out of pocket med expenses! Not counting what we must pay as an employer to retain good help!<BR/><BR/>Oddly comforting to see it "on paper", in a dark sort of way.<BR/><BR/>deb meyersAn Adventurer in the Worldhttps://www.blogger.com/profile/11609157269651262432noreply@blogger.comtag:blogger.com,1999:blog-12364613.post-61626650901670866532008-05-30T03:39:00.000-05:002008-05-30T03:39:00.000-05:00Little things do add up but if I am understanding ...Little things do add up but if I am understanding her it's going to take more than cutting down here and there to make it in America. If an income earning man today makes $800 a year less than his father did and a two-income family is spending less over all than the one-income father who made $800 more than our husbands...it's time to wake up and smell ourselves. <BR/><BR/>"Could someone please explain what she meant by saying that grocery prices and housing (I think) were LOWER in '03 than they were in a previous generation??" She is adjusting for the rate of inflation. Our parent's dollar went farther than ours.Green Tea & Kimcheehttps://www.blogger.com/profile/16920829907721216821noreply@blogger.comtag:blogger.com,1999:blog-12364613.post-39021041431828567512008-05-30T02:44:00.000-05:002008-05-30T02:44:00.000-05:00I watched the video too, and even though I am not ...I watched the video too, and even though I am not living in the States, it made a huge amount of sense to me. I got married in the 70s, and am part of that original demographic...stay at home mum, with one income. <BR/>But my husband died unexpectedly when I still had a child at school 2 years ago, and even though our home was paid for, I had to go out into the workplace to earn enough to live on. And I did. I do. Not a great deal, but enough.Thank God we were not already living on and spending 2 incomes at the time.<BR/> <BR/>However, the one thing I want everyone of you young ones to know is that you absolutely need to get rid of any credit card debt/loans etc as soon as is humanly possible. I wish that I had known how crippling it could be 2 years ago. <BR/>I am intelligent, articulate, financially savvy, and still underestimated it all. Now I am living on a cash only basis, and what I can't pay for does not get bought. I cancelled things like Sky TV subscriptions, gym memberships, papers etc, and cut every corner I could, and it will still take another 3 years or so to be completely free of all debt, but it will be so worth it in the end. <BR/>I wish I had had all the info available now through all these frugal blogs 10 years ago. Thanks Meredith. You have no idea how much encouragement I get from visiting here.Lindshttps://www.blogger.com/profile/17141761866483224572noreply@blogger.comtag:blogger.com,1999:blog-12364613.post-36531141274396118082008-05-29T23:34:00.000-05:002008-05-29T23:34:00.000-05:00I just saw that she was in a film about American d...I just saw that she was in a film about American debt called "Maxed Out". It's also a book. Perhaps your library has them.Amanda on Mauihttps://www.blogger.com/profile/07025963903013322746noreply@blogger.comtag:blogger.com,1999:blog-12364613.post-8279996325899211672008-05-29T21:37:00.000-05:002008-05-29T21:37:00.000-05:00Yes, it is true that a gallon of gas is as expensi...Yes, it is true that a gallon of gas is as expensive as a latte at Starbucks. That is why Starbucks is going under pretty quickly.<BR/>The one income household is stronger in the long run- IMHO. You have to work at it.To think it was easier 20 years ago when we did it- is sort of silly. We rented our first 16 years. Our kids did the grandparent toys (now wishing I had asked them to contribute to college instead). I knew very few SAHMs- most worked. <BR/>It was possible then- it is now. I am happy to see people are willing to try!Janettehttps://www.blogger.com/profile/10054888725603183006noreply@blogger.comtag:blogger.com,1999:blog-12364613.post-62931863080554220082008-05-29T20:41:00.000-05:002008-05-29T20:41:00.000-05:00The only time the two income life worked for us wa...The only time the two income life worked for us was when we had one child (a compliant, first born, independent girl) and I made a very good salary at a corporation.<BR/><BR/>Even then, I believe it worked only because it was God's will at the time. I can still remember the day I KNEW God was telling me to leave work and stay at home with my (then) first grader. She is now thirty and the mother of our kids... it was a wise choice.<BR/><BR/>Otherwise, when I attempted to go back to work from time to time when we had a financial crisis (before homeschooling our son), it never worked out... ended up costing more in hidden costs than it was worth.<BR/><BR/>I believe the lifestyle needed to live on one income is worth learning these days with increasing prices and possible shortages. Those are skills everyone will wish they knew.Brenda@CoffeeTeaBookshttps://www.blogger.com/profile/02719695370857675146noreply@blogger.comtag:blogger.com,1999:blog-12364613.post-39911219177302050442008-05-29T20:30:00.000-05:002008-05-29T20:30:00.000-05:00Haven't watched the lecture yet, but I've heard th...Haven't watched the lecture yet, but I've heard these analysis in the past and agree. There are so many costs involved with that second paycheck, that it could end up <I>costing</I> you to earn it.<BR/><BR/>We too bought far less house than the bank said we could, we do bi-weekly payments to get the mortgage paid off faster, we do buy newer used cars and run them until they basically die.<BR/><BR/>We homeschool and can pick and choose what we want to spend, and can be resourceful.<BR/><BR/>We use a lot of private label brand items, and they work just fine. We've really cut down on eating out (we go in streaks with it) and continually look for ways to do more ourselves, do things less expensively or do without.<BR/><BR/>I think one of the keys is to stop listening to society's messages (more, consume, buy, deserve, entitled, best) and look to the Lord to provide for our needs.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-12364613.post-67228044687283684502008-05-29T20:19:00.000-05:002008-05-29T20:19:00.000-05:00absolutely agree on that. We do the dave ramsey t...absolutely agree on that. We do the dave ramsey thing and we don't own a home. we rent a home and it is a tad small for our growing family, but we have adjusted and simplified to make it work at its peak efficiency. Except for a Katrina disaster relief loan we have no debt. that is a huge relief. One income takes some work, but it sounded to me like 2 incomes took a lot of work too.Gini (Hallquist) Younghttps://www.blogger.com/profile/03916279353448690962noreply@blogger.comtag:blogger.com,1999:blog-12364613.post-26555333964279707442008-05-29T19:54:00.000-05:002008-05-29T19:54:00.000-05:00this is a first time comment. i am 62 and remembe...this is a first time comment. i am 62 and remember the seventies and the beginning imperative for the woman to work. i have worked off and on throughout the years because i have a MA in a highly desired field. but we never had child care issues (3 kids), bought too much house, and always had inexpensive but reliable cars. my husband has been a good earner and we both have been good savers with lots of gratification but little immediate. we have always followed the tightwad gazette suggestions which were meaningful to us. over time we have become comfortable, sent 3 kids to college and look forward to a secure, but frugal by choice retirement. thank God also that we have been very healthy. love your blog. anita<BR/>goAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-12364613.post-6020797780626777572008-05-29T19:37:00.000-05:002008-05-29T19:37:00.000-05:00I already knew some of this but other parts were ...I already knew some of this but other parts were a real eye opener. My father has been talking about the fall of the middle class for the last 30 years! I have 4 children, two of which will graduate from high school next year. I will try a get them to watch this!!Right Brain Thinkerhttps://www.blogger.com/profile/10034205571865447805noreply@blogger.comtag:blogger.com,1999:blog-12364613.post-65780265750689708062008-05-29T17:44:00.000-05:002008-05-29T17:44:00.000-05:00meredith, this sounds crazy (and off topic) but i ...meredith, <BR/><BR/>this sounds crazy (and off topic) but i had to tell you. i had this dream where i was watching a movie and several of the actors were wearing backpacks with the label "like merchant ships" on the back. i thought to myself (in my dream of course) that meredith is so money saavy that she's found a way to get her blog in the movies!Melissa Stoverhttps://www.blogger.com/profile/12839619836478423452noreply@blogger.comtag:blogger.com,1999:blog-12364613.post-26217045431833277662008-05-29T17:19:00.000-05:002008-05-29T17:19:00.000-05:00I agree with you meredith. It is all those little...I agree with you meredith. It is all those little decisions throughout the days, weeks, months and years that add up to making life affordable on 1 income or not. Many people aren't willing to sacrafice and say those decisions are too hard for them to make and that they could never do that. Which I disagree with for the most part. Where there is a will there is a way - most of the time.Jenniferhttps://www.blogger.com/profile/16958981528207127681noreply@blogger.com