Driving to financial trouble?

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This topic contains 5 replies, has 6 voices, and was last updated by  Melissa C 5 years, 4 months ago.

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  • #9804

    Jessica-N
    Participant

    I know someone who is from a background of the “working poor” (I hope that term is all right). She has a regular job and works hard but is always struggling financially. She is about to buy a $15,000 car on credit. I am from a middle-class, educated background and have trouble understanding this decision. Why would she invest so much money in a car instead of, say, going back to school part time to become a nurse, which she says she wants to do? (P.S. She is the same race as me.)
    Original Code C10. Click here to see responses from the original archives.

    User Detail :  

    Name : Jessica-N, Gender : F, Age : 26, City : New York, State : NY Country : United States, Social class : Middle, 
    #42183

    Melissa C
    Member

    Coming from a person who is what you would call working class, I can relate to your friend. If I had the chance I would also get the car. Your friend probably would like to go to school and get her nursing degree, but like most of us, she has to put a roof over her head and food in her tummy, and she has to get back and forth to work to do so. I have continued on the road to education and am walking to class and work every day just to keep myself out of debt and my head above water. After purchasing the car your friend may return to school and finish. By the way, coming from the working class, this isn’t as easy as it sounds. We haven’t had everthing just given to us, so we consider some things more important. I would love to have a car, but right now I can only have one or the other, and I choose education over transportation.

    User Detail :  

    Name : Melissa C, Gender : F, Sexual Orientation : Straight, Race : White/Caucasian, Religion : Catholic, Age : 20, City : FAFB, State : WA Country : United States, Occupation : Housekeeper, Education level : High School Diploma, Social class : Lower class, 
    #25662

    Lisa22772
    Participant

    I am from a working-class neighborhood in England and noticed that only a few of the people I grew up with got into extreme debt and live beyond their means. However, while living in the United States, I noticed this all the time. People making less than $10,000 a year would be wearing $300 pair of shoes, $200 handbags, driving $40,000 cars – and yet have no savings and no investments. It seems as though their status comes from what they possess rather than what they are (i.e. educated, etc). I’ve known many people in the United States who claim not to be able to afford an education and yet squander $200 per week on clothes.

    I guess it’s a matter of priority, and often needs that are met immediately take priority over those procured over time. I can understand, too, the comfort that comes from having nice stuff, especially when you live in a crappy neighborhood and earn very little – kind of like a temporary high that unfortunately fails to address the real underlying, long-term problem.

    User Detail :  

    Name : Lisa22772, Gender : F, City : London, State : NA Country : United Kingdom, 
    #31176

    Anonymous23909
    Participant

    This person probably does not understand the commitment she is entering into. She probably does not understand she could go to school for the same financial commitment.

    User Detail :  

    Name : Anonymous23909, City : San Francisco, State : CA Country : United States, 
    #23925

    Bobo
    Participant

    For some people, especially the ‘working poor,’ it is easier to get credit than to save money. If she can handle the payments, it is really none of your business what she does. A car payment should not have much of an impact on one’s ability to attend school part-time.

    User Detail :  

    Name : Bobo, Gender : F, Age : 42, City : Concord, State : CA Country : United States, Occupation : self-employed, Education level : 2 Years of College, Social class : Middle class, 
    #26363

    Which would be better? To spend $15.000.00 on a new car with a warranty, or buy a used car with a 30 day warranty or as is, then spend $15.000.00 keeping it running. It’s a bad thing to need and depend on a car for survival and have it broke down continually. I feel soory when I see people driving ‘hoopties’, I believe if everyone could drive a nice car they would, and so they should. Would you use a fan, if you felt the need of an air conditioner?

    User Detail :  

    Name : James Nance, Gender : M, Sexual Orientation : Straight, Race : Black/African American, Age : 55, City : Nashville, State : TN Country : United States, Occupation : Theology, Education level : 4 Years of College, Social class : Middle class, 
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