Your Economic Status

[norajane]

My parents are the classic immigrant story. They came to the US when I was very young, and worked really hard at blue collar jobs to put my sister and me through school. They are excellent with money, and taught me a lot about the value of saving and spending, and what to save for. Dad just retired; mom will do so next month. They own their own home without a mortgage, no debt, and have plenty to enjoy retirement.

 

If you or your family bought a car in the 70's, or walked into a newly built building, my dad could have been one of the steelworkers who made that possible. If you bought shampoo or soap in the last 20 years, my dad could have climbed the giant vat of noxious chemicals to test a sample before shipping it to your favorite brand maker. And if you bought paper cups or Carl Buddig lunchmeat in the last 30 years, my mom probably put it in the box that went to your grocery store.

 

As for me, all their hard work to send me to school paid off nicely. I worked all through college and grad school, and had lots of grants and scholarships, so with that and my parents contributions, I was lucky enough not to have loans. Now, I own my home and paid off the mortgage this year, have no debt, and have a great job I really like. While I have much more disposable income than my parents did, I saw how they were able to turn very little into so much, and try not to forget. So I splurge on things that mean something to me, like my home and travel and down comforters and awesome food at fantastic restaurants. But I've had my car for 10 years because it's a great car and still runs perfectly and have no intention of trading it in for something new and status-y. I enjoy my money, but don't care so much about showing it off. I save and invest and plan for retirement - I want a little cottage near the sea, one day, with beautiful views and year-round gardening. I know just the place, too...

 

Other people...I respect those who try and make it work and just barely makes ends meet, as well as those who work to achieve their own wealth. I have little respect for people who make little to no effort and try to get away with stuff, whether they be bank CEO's or welfare scammers.

 

I mostly give to my university. They allow people to donate directly to specific funds of their choice - all my donations go to the grant fund for students who are able to get in, but whose families don't have the $41,000 a year in tuition, plus housing and food, to go there. I also give to animal shelters.

 

I'm on my company's grant committee for the Midwest region, where we review grants submitted by various organizations seeking funding for educational programs for students, or for job training programs for adults. Our grant budget is usually about $300k per year. My pet grant, which I finally pushed through the committee in our spring cycle, was to fund a program which not only teaches underprivileged women how to prepare resumes, interview skills, and how to apply for and get jobs, but also provides them with appropriate interview attire, which they generally can't afford on their own. It was a small grant, but every penny counts.

 

I volunteer with Junior Achievement through my company, and we also occasionally do volunteer days where we build kids' playgrounds in underserved neighborhoods, or clean up parks or plant trees.

Edited August 20, 2010 by norajane

[Shakz]

I try to keep my giving local as it's good for business. However, I do sponsor a family in Nicaragua through my church. We send each other letters and pictures. Without my help the children wouldn't be able to go to school and the grandmother would be working. Now they have a real family life of which I feel I am a part. They keep my picture on their wall. It makes me feel like a human being.

[O'Malley]

 

ANd FYI...yes there are people in america starving...most just choose to not notice or give a hoot because soo long as its not in their backyard...whats it matter....

 

Agreed.

 

I grew up in what would be considered, for the United States, moderate poverty: my grandmother (who lived with us) helped out with her SS income, but she was in pretty bad health for years, and my mother did not want to put her in a nursing home. We lived in an area with few job opportunities as well, and my mother was too ashamed to seek assistance.

 

I give to local charities, because I'm aware that the financial/economical/educational playing field was never even -- it's far harder to pull yourself out of poverty and attain success (even with hard work) than it is for those who grew up in more affluent circumstances. Low wage earners have difficulty saving money, due to high housing costs. Hard work isn't always rewarded by some employers either, and in bad economic times, it's not easy for even educated people to find a job. Medical costs that insurance refuses to cover can devastate anyone's finances.

 

Some people do overly focus on the idea of welfare fraud (which does occur, but not to the level people believe) and aren't aware of the poverty that is in certain areas of the U.S. Comparing it to the poverty in certain parts of Africa or Asia does not negate the fact that there is troubling financial and wage dispersion in the U.S.

[Shakz]

So - we aren't rich in $ but we are rich in love and non-monetary rewards.

 

You are a very lucky woman, although mostly it seems you've made your own luck. I would be amazed if you weren't charitable. I don't always see eye to eye with you, but your willingness to take up the cause of giving recently has inspired me to do a bit more.

[Gold Pile]

Thanks Gold Pile for clarifying and being specific . With that said I agree with Treasa.....Sorry for intruding on a financial status quo topic....thought it was more about achievements via other means that made one rich in heart and deeds or intellect or...

 

ANd FYI...yes there are people in america starving...most just choose to not notice or give a hoot because soo long as its not in their backyard...whats it matter....NIMBYS' gotta love em!

A picture would be worth a thousand words. We've all seen horrible pictures of real starvation in Africa. I've never seen anything like it here. Many of are poorest people on tax payer support are darn right overweight. If the journalists who claim we have starvation here could take a picture, I'm sure a shocked public would demand it be changed.

[underpants]

How do you deal with your economic status? In many parts of the world economic status is very, very important, In the US that competes with our attitude of everyone being equal.

 

My status is above average.

 

Above average in what way, specifically?

 

This from the guy that watered down paint to try to impress a possible date? That is until the paint dried.

 

From a guy that bought expired chocolates for the same reason?

 

The rest I didn't keep up with, sorry.

 

So again, impress me with you above average status?

[K'aycie]

I left a job where I was at for several years making excellent money, because of its unethical environment and slimy practices. I was in the upper middle class bracket. Went on to work for another company, with a great boss, but his company went belly up due to the economy.

 

I am now working for a great company, but my income level is substantially less and I've taken a really big hit. Still middle class but on the lower end income wise, and even though I am making substantially less, I have to say, for the first time - I LOVE my job, the people, and the work that I do. I was just offered another job elsewhere, making more money, but I haven't decided if that's a move I want to make. It would also be closer to home, because right now, my work commute is 1 hour with traffic which I hate.

 

I give $ to different charities, and give money if there are fundraisers outside of the supermarket and such . I also volunteer my time in a couple charities and I've worked as a volunteer at an animal shelter. Things that I just enjoy doing, though I will complain when I had to clean up pet poop and breath in all the wonderful animal scents.

Edited August 21, 2010 by K'aycie

[Gold Pile]

Above average in what way, specifically?

 

This from the guy that watered down paint to try to impress a possible date? That is until the paint dried.

 

From a guy that bought expired chocolates for the same reason?

 

The rest I didn't keep up with, sorry.

 

So again, impress me with you above average status?

 

Being thirty doesn't preclude being wealthy, in fact they often go together.

[Gold Pile]

I left a job where I was at for several years making excellent money, because of its unethical environment and slimy practices. I was in the upper middle class bracket. Went on to work for another company, with a great boss, but his company went belly up due to the economy.

 

I am now working for a great company, but my income level is substantially less and I've taken a really big hit. Still middle class but on the lower end income wise, and even though I am making substantially less, I have to say, for the first time - I LOVE my job, the people, and the work that I do. I was just offered another job elsewhere, making more money, but I haven't decided if that's a move I want to make. It would also be closer to home, because right now, my work commute is 1 hour with traffic which I hate. ....

Indeed, being in a job you hate usually isn't worth it...even if it pays well.

[tami-chan]

How do you deal with your economic status? In many parts of the world economic status is very, very important, In the US that competes with our attitude of everyone being equal.

 

My status is above average. I did it on my own but don't resent those who inherited it, their folks were entitled to pass their money down to their loved ones. I somewhat admire those who achieved more, I certainly don't resent them for having done so. I do resent those who act as if they are better than others who have less. I don't look down on those WORKING people that have less, I admire them for greeting me at the checkout with a smile and good service.

 

I resent poorer people who blame the richer for being richer. Being rich isn't a crime, most of them/us did it via hard work and prudent spending.

Crooks are crooks, be they millionaire investment scammers or sidewalk robbers. Honest people are honest people, be they rich or poor.

 

Charity is a tough one for me. The people of the US are too charitable, we've created a massive underclass here and abroad that is too dependent on charity. And we have built a thriving business around the business of giving. I avoid the established charities and I avoid giving to those who are responsible for their own hardship. In recent years I've tried to do something for the badly injured soldiers. It's not easy to do so while avoiding the business bulit around charity. I give because I want to, I don't think anyone has an obligation to give anything to anyone.

 

I've done well, I'm aware of that because of those around me who've done less well. It troubles me that I have some pride in doing better than others. If they did as well as me, then I'd be happy for them but disappointed that I wasn't above average.

 

Great post, GP!!!

 

***** what's your economic status? How did you get there? How do you feel about the higher and lesser achievers? ****

 

I am above-average. My father was a hard-working who did very well for himself. My mother came from a wealthy family. I married very young and had a kid right away-balancing that and school was very difficult even though I saw many working moms who had more kids, school loans and full-time jobs who succeeded despite their more difficult circumstances. I marveled at how they did it and had great respect for them. My parents paid for my school but I worked sporadically in between. I always wanted to be a teacher, but I ended up being in the medical field-because of the earning potential and because I screwed up marrying so young I wanted to do something "right" for my family. I am good at what I do, but I am not passionate about it. I am not complaining. I think I did/am doing the right thing.

 

I admire successful people. I admire people who are passionate at what they do, but at the same time are able to provide financial security for themselves and their families.'Have to strike a balance somewhere.

 

I am annoyed by people whose only vocation is to advance a cause, not earn a steady income but expect to be supported by their families/other people. My sister is one. She travels to third world countries working for the "poor" and educating women, teaching them to be self-reliant, to be able to support themselves but she herself cannot support her own. She relies on my parents for financial support. I wish she would just work for an NGO and get at least a stipend for her work..but she only likes to "volunteer".I am annoyed by her idealism-this woman who graduated top of her high school class and univ. BUT at the same time I admire and envy her for her passion.

 

I hate when people compare the poor in the US and the poor in third world countries. There is no comparison. Our poor are not the same as their poor. In the US upward mobility is ALWAYS a possibility-just make the "right" choices, not so in many countries in the third world.

[O'Malley]

A picture would be worth a thousand words. We've all seen horrible pictures of real starvation in Africa. I've never seen anything like it here. Many of are poorest people on tax payer support are darn right overweight.

 

There is malnutrition in the U.S, even if there are overweight people on assistance....to compare U.S. poverty to certain countries does not mean it is not troubling, in light of this country's wealth.

 

If the journalists who claim we have starvation her could take a picture, I'm sure a shocked public would demand it be changed.

I think that denial in the general public has been going for a long time...people don't want to acknowledge that such a technologically advanced country still has a disturbing gap between it's wealthiest and poorest citizens. Therefore some individuals find means to justify why the poor as a whole are not as successful. Some of these reasons are fair, but many are unrealistic and willfully ignorant.

[Gold Pile]

Great post, GP!!!

 

 

I am above-average. My father was a hard-working who did very well for himself. My mother came from a wealthy family. I married very young and had a kid right away-balancing that and school was very difficult even though I saw many working moms who had more kids, school loans and full-time jobs who succeeded despite their more difficult circumstances. I marveled at how they did it and had great respect for them. My parents paid for my school but I worked sporadically in between. I always wanted to be a teacher, but I ended up being in the medical field-because of the earning potential and because I screwed up marrying so young I wanted to do something "right" for my family. I am good at what I do, but I am not passionate about it. I am not complaining. I think I did/am doing the right thing.

 

I admire successful people. I admire people who are passionate at what they do, but at the same time are able to provide financial security for themselves and their families.'Have to strike a balance somewhere.

 

I am annoyed by people whose only vocation is to advance a cause, not earn a steady income but expect to be supported by their families/other people. My sister is one. She travels to third world countries working for the "poor" and educating women, teaching them to be self-reliant, to be able to support themselves but she herself cannot support her own. She relies on my parents for financial support. I wish she would just work for an NGO and get at least a stipend for her work..but she only likes to "volunteer".I am annoyed by her idealism-this woman who graduated top of her high school class and univ. BUT at the same time I admire and envy her for her passion.

 

I hate when people compare the poor in the US and the poor in third world countries. There is no comparison. Our poor are not the same as their poor. In the US upward mobility is ALWAYS a possibility-just make the "right" choices, not so in many countries in the third world.[/QUOTE]

 

Well said !! I forgot to mention the "do-gooders" who lean on others to support them.

 

Our poor, like all poor certainly have a hard time of it, but they are maintained at a level undreamed by the world's hardcore poor.

[K'aycie]

Indeed, being in a job you hate usually isn't worth it...even if it pays well.

 

Very true. Though, I would not know if I would hate it, unless I took the job offer. I don't think I am going to because it will require a lot of travel internationally and domestically. Sounds like a great opportunity, but, I can't be gone for long periods of time from my family and my pets. My current job is very flexible with taking time off and what not, very good benefits, and it's not overly stressful so I think it's a much better fit for me.

[pinkie]

I am, unfortunately, BELOW average... I came from seeing a hardworking woman raise 5 children on her own (grandmother) to seeing my mother hardly ever work a day in her life. She was also, needless to say, perfectly healthy, but lazy. I resented her for it growing up; and yes while she took advantage of the welfare system, she also managed to maintain a healthy party lifestyle, and smoked to boot. I grew up knowing that I never wanted to be like her. I've worked since the age of 16, I moved out of her house as soon as I could to become completely independent of her and/or any government program she might have been pushing (I have a disability that qualifies one for government assistance). I wanted to go to college, but could barely get out of high school. I worked different jobs, moved to another city for more opportunity, but never seemed happy with anything I was doing. Everything just seemed to be an escape from "fear of poverty" for me. I've since paid off two school loans, but yet and still have no degree. I have 12 years experience in an industry that I despise right now, due to the stress levels and unhappiness, and still got passed over for promotions. It's actually harder for me to find another position in the same industry without that piece of paper. Experience at this point is useless. I'm at my wits end on what to do. I've been laid off, but have managed so far to keep it together. I will not give up, I will not take a handout, I will continue to work hard at finding work, and hopefully will not end up on the foodbank line or silently homeless, due to my strong sense of pride.

[Gold Pile]

I am, unfortunately, BELOW average... I came from seeing a hardworking woman raise 5 children on her own (grandmother) to seeing my mother hardly ever work a day in her life. She was also, needless to say, perfectly healthy, but lazy. I resented her for it growing up; and yes while she took advantage of the welfare system, she also managed to maintain a healthy party lifestyle, and smoked to boot. I grew up knowing that I never wanted to be like her. I've worked since the age of 16, I moved out of her house as soon as I could to become completely independent of her and/or any government program she might have been pushing (I have a disability that qualifies one for government assistance). I wanted to go to college, but could barely get out of high school. I worked different jobs, moved to another city for more opportunity, but never seemed happy with anything I was doing. Everything just seemed to be an escape from "fear of poverty" for me. I've since paid off two school loans, but yet and still have no degree. I have 12 years experience in an industry that I despise right now, due to the stress levels and unhappiness, and still got passed over for promotions. It's actually harder for me to find another position in the same industry without that piece of paper. Experience at this point is useless. I'm at my wits end on what to do. I've been laid off, but have managed so far to keep it together. I will not give up, I will not take a handout, I will continue to work hard at finding work, and hopefully will not end up on the foodbank line or silently homeless, due to my strong sense of pride.

Pink, you are to be admired for having the vision and character not to repeat your mother's bad ways. At some point most of us have had jobs we hate, it's great to have the option of moving on but sometimes we are stuck there for a time. It's rare that anyone LOVES their job (would they do it after winning the lotto?), really....liking or being OK is the best most jobs get. Work is a pain we endure to support ourself.

Life is easier for some...rich parents paying for schooling, living off taxpayer support, or being gifted enough to get scholarship funding. Some of us start farther back....that's what we've been dealt, nothing can change the past.

 

I hope you can find a job to ride out these hard times, any job for now while planning for a better one later. In time, after many years of hard work and reasonable frugality, you can see a lightdown the tunnel and you find SOME financial comfort. Good Luck