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Soda for Food Stamps

#1 Jan 16 2013 at 10:09 PM Rating: Default
30,867 posts
Zymunn wrote:
I take it you did not read the post I mentioned. So let me clear this part up. I am diabetic, type one. That means I am insulin dependant. No money to buy meds then I am dead. Read the post to understand more.

I'm not sure how that relates to "I would have died if I'd sold the car". You've created a string of assumptions that IMO aren't founded.

Told me I could trade it in but it was not going to cover the down payment they had on anything. The finance company told me they would not adjust the payment. And they had at that point already cut me slack for two months on payment.

So you waited until it was too late? What about two months earlier, when you hadn't yet missed any payments, and you might have had some more money to do more things? See. The first thing one should do when they lose their job is shed any unnecessary expenses. Now. Not when they run out of money. Right now. Day one. Lose your job, go right then and trade your car in for the cheapest thing you can find. That way the money you do have saved up will last longer, and the likelihood of decreased income for a while wont hurt you as much.

My point is that you did have choices along the way. But you made poor ones, which led you to be in a jam you couldn't get out of.

I'll also point out that the car was way too expensive anyway.

Had absolutely no problems paying my bills until I was without work for about two months.

Because you had whacked priorities though. I'm sure you managed, but if you'd purchased a more reasonable car (like one that cost say $300/month in financing and another $100 in insurance), you'd have saved yourself $400/month. You could then have saved that money (since you had "no problem" living on the remaining income, right), and then had significantly more money to use as a buffer against losing your job *and* you could have kept the car even with the lower salary you had for a period of time. You decided to buy the absolute most expensive car you could afford. That was a mistake.

Spending nearly half your take home pay on a car is too much, no matter how much you earn. I realize that most people can't do this (or choose not to), but ideally you should have sufficient savings to live for 3 months at your current expense level (preferably 6 months btw). This should cover you between jobs. But you can also hedge that by reducing you expenses if you do lose a job. My point is that you made purchasing decisions right to the edge of what you could afford, assuming you'd never lose your job. You then continued to spend money assuming you'd get a new one quickly. When both of those assumptions failed, you then were shocked to find yourself in a tough situation.

All my co-workers lived in Billings so that was out. Nothing that went between the two cities no. My friend and her husband both worked early hours. She is a teacher and he works at Fed Ex. So no other options were avaible at the time.

There was no work to be found near to where you lived? You could not get a ride early in the morning, and hang out at/near work? You had other options. It's just that keeping the car and going on food stamps was an easier one to take.

And I'm sorry, but I still don't buy that there was no other option but to keep paying $800/month on that car. That just seems somewhat absurd to me. I don't know what kind of messed up situation you were in prior to that point which created that circumstance, but it's not normal. Normally, you can trade in a car for a less expensive model pretty easily. You'll lose most of the cash you've been paying to the financing agency, but they'll do it because from their perspective they get another sale, and from the finance office's perspective, it's better to get a smaller amount per month from you than to get nothing and then have to repossess the car. And they then still get to sell your old car again as well. It's win/win/win for them, so I'm not seeing how you could not make some kind of deal.
King Nobby wrote:
More words please
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