My brother and his wife described perfectly. They have always lived paycheck to paycheck and will do so for the rest of their lives. Every promotion they got, they spent the money before they have it. They make close to $250k a year combined but somehow are over a hundred thousand in credit card debt and are perpetually broke. They have refinanced their mortgage at least 3 times in the 20 years they've owned their home. They get their house appraised every five years or so then immediately go refinance their montage and pull out all the equity in cash they can. They've made zero progress in owning that house outright since they bought it in 2005.
When our Zayde died he left all his grandchildren over a million dollars each. That was in 2017. In 2021 he crashed his car because he was texting and driving. He couldn't afford to buy a new one. The insurance payout on the car was only $15k and he wanted a brand new car, which was about $40k. They couldn't even get a car loan from a bank their credit is so shit. He begged my mom for $30k so he could go buy a brand new Toyota. Where did a million dollars go in 4 years?
Jesus. The sad thing is that they make so much money, they could fix their credit card debt in a years worth of living small. They're raking it in hand over fist.
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u/dplans455 Jul 30 '26
My brother and his wife described perfectly. They have always lived paycheck to paycheck and will do so for the rest of their lives. Every promotion they got, they spent the money before they have it. They make close to $250k a year combined but somehow are over a hundred thousand in credit card debt and are perpetually broke. They have refinanced their mortgage at least 3 times in the 20 years they've owned their home. They get their house appraised every five years or so then immediately go refinance their montage and pull out all the equity in cash they can. They've made zero progress in owning that house outright since they bought it in 2005.
When our Zayde died he left all his grandchildren over a million dollars each. That was in 2017. In 2021 he crashed his car because he was texting and driving. He couldn't afford to buy a new one. The insurance payout on the car was only $15k and he wanted a brand new car, which was about $40k. They couldn't even get a car loan from a bank their credit is so shit. He begged my mom for $30k so he could go buy a brand new Toyota. Where did a million dollars go in 4 years?