Has the Government shutdown...................

TheSlorax

... I'm thinking you don't know how much government workers make. Also, a lot of people's savings are in 401ks/IRAs/other assets that are not liquid because they have a steady job and know there will be a paycheck coming. That is, unless the government gets shut down, and who expected that?

Sorry but anyone who doesn't have a savings or any amount of money stashed away some where that is liquid, available and accessible because "they have a steady job and know there will be a paycheck coming" is rather daft. I had a steady job and a paycheck coming and yet I still had my 401(k) and a savings account because I don't believe in living paycheck-to-paycheck (which if you have nothing saved that's what you're doing) for one and two I didn't live in a fantasy bubble where I believed "it can't happen to me" because guess what? It CAN! (Thankfully it didn't and I quit my job to start my own business but believe me that savings came in very handy when my husband struck out on his own fifteen years ago).

And Romney expected the Government shutdown. I believe he said that if Obama was reelected that people should be prepared for a Government shutdown.

I respect you very much for having a plan, however I don't think it's fair to call those without savings daft. I had a liquid savings outside of my 401k, but that went quickly when my ex walked out on me. I was stay at home mom with no job. Luckily I was able to find a job within a month and I am not on welfare. However, becuase of circumstance I no longer have a savings. I don't have the mentality of "It's can't happen to me" becuase I do struggle every week, and I do try to put a little aside each pay check. Sometimes it lasts sometimes it doesn't. I have a plan in place for the future of my savings, but right now there are other bills my money is going towards. Does that make me daft? Not at all, it makes me appreciate having my job and it forces me to understand what is essintial to survive and what isn't.

You're also not in your 40s and have been working the same job for 20+ years.. I'd think with 20+ years of the same job under your belt you'd have some savings...

SAHM getting walked out on =/= working for 20+yr

I'll check in with you in 20 years to ask about your savings. ****, the presumptions in this thread are already driving me nuts and there haven't even been that many posts.

Jennloella

It's really idiotic to say what people should or shouldn't do with their money or to assume you know what they do with it just because you've been given one teeny tiny detail about them.

Judgey Wudgey was a Bear....

TheSlorax

affected you or someone you know personally? My DW is a civilian government worker who got to go back to work this past Monday. We're fortunate that we don't have to dig into our savings to make it now, but there are lots of people I know who will be greatly affected till it gets resolved. One isn't going to be able to pay her mortgage after being with the government 20 years.
Others I know have had to cancel sessions with me (I'll be fine because there are other members who want my services).

Opinions?

Why can't she pay her mortgage? If she's been w/ the government that long shouldn't she have some savings?

... I'm thinking you don't know how much government workers make. Also, a lot of people's savings are in 401ks/IRAs/other assets that are not liquid because they have a steady job and know there will be a paycheck coming. That is, unless the government gets shut down, and who expected that?

I work in mortgage and it's been pretty tough with all of the government programs we utilize, but luckily investors are making exceptions for some things. Otherwise we wouldn't be funding anything and there would be a lot of people not able to pay their bills, myself included.

I do know how much they make.. My husband was in the Army for quite a while. People who've been in for 20+ years do pretty well.
edit:
I also know that last time USAA paid all the military members a few days late since the government didn't pay out. I also know that during these times, most lenders don't tack on fees for military.

Military pay and civilian pay are very different. Civilian pay is capped once you reach the top tier for your grade, and if she's a lower grade then she could still be making a very moderate income, even after 20 years. And civilians don't get benefits like BAH to cover housing costs.

I have a friend whos husband (contracted civilian)did the same exact thing as someone in my DH's unit.. Her DH got $200,000 a year while deployed.. and My DH and his buddy got $45,000-50,000 while deployed...

They are still being paid by the MILITARY...........

at 200k a year they should have no problems making a decent savings.

Please tell me which CIVILIAN GOVERNMENT workers make $200k. Far and few between. Your friend was a "civilian contractor" being paid by the MILITARY. That was my point.

And, do keep in mind that even 200k a year in this area of CA is basically middle class. So if that is the only income for a large family, savings might be less than you may think because of the cost of living here.

LurveTheDoctor

It's really idiotic to say what people should or shouldn't do with their money or to assume you know what they do with it just because you've been given one teeny tiny detail about them.

Judgey Wudgey was a Bear....

I'm not judging. I'm stating simple facts that you'd think they'd have enough savings to cover their mortgage. If not, If they're military most loaners are helping them out.

I know USAA gave us our paycheck last time the gov shut down.

tomomatic

Good grief. People living paycheck to paycheck may have honest to goodness reasons for doing so. Fresh out of school? elderly parents to take care of? Childcare expenses? Childcare expenses for children with disabilities? Etc. Someone may have legitimately just blown through their reserves for a perfectly good reason (like their car just died, or need a new roof). Who are you to judge them as daft?

To call people daft for living paycheck to paycheck is passing judgement on folks you don't even know. It'a short sighted and makes you a massive d-bag.

BrandNewFabulousMe

... I'm thinking you don't know how much government workers make. Also, a lot of people's savings are in 401ks/IRAs/other assets that are not liquid because they have a steady job and know there will be a paycheck coming. That is, unless the government gets shut down, and who expected that?

Sorry but anyone who doesn't have a savings or any amount of money stashed away some where that is liquid, available and accessible because "they have a steady job and know there will be a paycheck coming" is rather daft. I had a steady job and a paycheck coming and yet I still had my 401(k) and a savings account because I don't believe in living paycheck-to-paycheck (which if you have nothing saved that's what you're doing) for one and two I didn't live in a fantasy bubble where I believed "it can't happen to me" because guess what? It CAN! (Thankfully it didn't and I quit my job to start my own business but believe me that savings came in very handy when my husband struck out on his own fifteen years ago).

And Romney expected the Government shutdown. I believe he said that if Obama was reelected that people should be prepared for a Government shutdown.

I respect you very much for having a plan, however I don't think it's fair to call those without savings daft. I had a liquid savings outside of my 401k, but that went quickly when my ex walked out on me. I was stay at home mom with no job. Luckily I was able to find a job within a month and I am not on welfare. However, becuase of circumstance I no longer have a savings. I don't have the mentality of "It's can't happen to me" becuase I do struggle every week, and I do try to put a little aside each pay check. Sometimes it lasts sometimes it doesn't. I have a plan in place for the future of my savings, but right now there are other bills my money is going towards. Does that make me daft? Not at all, it makes me appreciate having my job and it forces me to understand what is essintial to survive and what isn't.

I myself ended up a single mother without a dime coming from the father. I've been working my butt off to keep things going in my household. Luckily this year alone I was able to put away 50 bucks a week or so to turn around and use it to fix the car smh. Is that enough for a big emergency? no, but guess what, Im trying. It's not fair to put everyone in that category b/c some of us do have to live paycheck to paycheck. even a college degree didn't get me any more income. I understand saving is important but be sensitive to other peoples circumstances.

_Tink_

affected you or someone you know personally? My DW is a civilian government worker who got to go back to work this past Monday. We're fortunate that we don't have to dig into our savings to make it now, but there are lots of people I know who will be greatly affected till it gets resolved. One isn't going to be able to pay her mortgage after being with the government 20 years.
Others I know have had to cancel sessions with me (I'll be fine because there are other members who want my services).

Opinions?

Why can't she pay her mortgage? If she's been w/ the government that long shouldn't she have some savings?

... I'm thinking you don't know how much government workers make. Also, a lot of people's savings are in 401ks/IRAs/other assets that are not liquid because they have a steady job and know there will be a paycheck coming. That is, unless the government gets shut down, and who expected that?

I work in mortgage and it's been pretty tough with all of the government programs we utilize, but luckily investors are making exceptions for some things. Otherwise we wouldn't be funding anything and there would be a lot of people not able to pay their bills, myself included.

I do know how much they make.. My husband was in the Army for quite a while. People who've been in for 20+ years do pretty well.
edit:
I also know that last time USAA paid all the military members a few days late since the government didn't pay out. I also know that during these times, most lenders don't tack on fees for military.

Military pay and civilian pay are very different. Civilian pay is capped once you reach the top tier for your grade, and if she's a lower grade then she could still be making a very moderate income, even after 20 years. And civilians don't get benefits like BAH to cover housing costs.

I have a friend whos husband (contracted civilian)did the same exact thing as someone in my DH's unit.. Her DH got $200,000 a year while deployed.. and My DH and his buddy got $45,000-50,000 while deployed...

They are still being paid by the MILITARY...........

at 200k a year they should have no problems making a decent savings.

Contract workers are NOT government employees. You can't compare the salaries.

BrandNewFabulousMe

Good grief. People living paycheck to paycheck may have honest to goodness reasons for doing so. Fresh out of school? elderly parents to take care of? Childcare expenses? Childcare expenses for children with disabilities? Etc. Someone may have legitimately just blown through their reserves for a perfectly good reason (like their car just died, or need a new roof). Who are you to judge them as daft?

To call people daft for living paycheck to paycheck is passing judgement on folks you don't even know. It'a short sighted and makes you a massive d-bag.

Amen to this!

Ang108

Now I finally find out where some of the people with those very high horses meet......jejeje.

admegamo

... I'm thinking you don't know how much government workers make. Also, a lot of people's savings are in 401ks/IRAs/other assets that are not liquid because they have a steady job and know there will be a paycheck coming. That is, unless the government gets shut down, and who expected that?

People should be prepared for emergencies. No savings account? Forget luxury/nice things until you have one.
Ideally, you should have a year's take home salary in cash at a minimum.

I know that sounds impossible, but for many, it's really the difference over a few years of buying non-name brand, or skipping Starbucks.

Plenty of people I know "can't afford to save" waste $200-300 a month on coffee, donuts, video games, name brand stuff, etc.


Have lived like this my whole life. Still get to enjoy nice things.
And when the wife was out of work for a year, we were fine.

Yes there are many people who do live the way you mentioned but the reality is that there are people who live pay check to pay check and do waste money on video games and name brand stuff. If you really believe that it's their choice then you really don't know what you're talking about. It's easy to judge when you've never truly walked in their shoes.

TheSlorax

It's really idiotic to say what people should or shouldn't do with their money or to assume you know what they do with it just because you've been given one teeny tiny detail about them.

Judgey Wudgey was a Bear....

I'm not judging. I'm stating simple facts that you'd think they'd have enough savings to cover their mortgage. If not, If they're military most loaners are helping them out.

I know USAA gave us our paycheck last time the gov shut down.

Again, you are confusing the military with the government. Again, they are not the same thing when it comes to their employees' salaries and benefits.

Holly_Roman_Empire

... I'm thinking you don't know how much government workers make. Also, a lot of people's savings are in 401ks/IRAs/other assets that are not liquid because they have a steady job and know there will be a paycheck coming. That is, unless the government gets shut down, and who expected that?

Sorry but anyone who doesn't have a savings or any amount of money stashed away some where that is liquid, available and accessible because "they have a steady job and know there will be a paycheck coming" is rather daft. I had a steady job and a paycheck coming and yet I still had my 401(k) and a savings account because I don't believe in living paycheck-to-paycheck (which if you have nothing saved that's what you're doing) for one and two I didn't live in a fantasy bubble where I believed "it can't happen to me" because guess what? It CAN! (Thankfully it didn't and I quit my job to start my own business but believe me that savings came in very handy when my husband struck out on his own fifteen years ago).

And Romney expected the Government shutdown. I believe he said that if Obama was reelected that people should be prepared for a Government shutdown.

This exactly. Everyone should have at least 3mo pay saved up. We don't because we've been struggling after my husband UNEXPECTEDLY got out of the Army and Veterans disability benefits are a joke. If you've had a steady job for 20 years you SHOULD be able to have enough money in savings to pay your bills. I know we would have.. Shoot my husband was in the Army for 6 years.. We had 10k in savings (not as much as we wanted) and lived off that for quite a while.

Yes, the VA sucks. My husband also has veterans disability but refuses to go there because they're a pain in the tush.Thank goodness he has insurance with his job.

Mia_RagazzaTosta

The judgement in this thread is infuriating.

Joreanasaurous

The only way this has had an impact on me so far is that gas has gone down.

I have no doubt it will start negatively affecting me in some form or another eventually though.

Blondiegrl11

It's really idiotic to say what people should or shouldn't do with their money or to assume you know what they do with it just because you've been given one teeny tiny detail about them.

Judgey Wudgey was a Bear....

I'm assuming nobody lives in California or any other expensive state or has kids...must be nice to have all the answers

TheSlorax

The judgement in this thread is infuriating.

I'm glad I'm not the only one....

It's really idiotic to say what people should or shouldn't do with their money or to assume you know what they do with it just because you've been given one teeny tiny detail about them.

Judgey Wudgey was a Bear....

I'm assuming nobody lives in California or any other expensive state or has kids...must be nice to have all the answers

sad part is I'm guessing the lady in the OP does in fact live here in CA... I would love to see how everyone does with this cost of living, kids, and a government salary (NOT MILITARY FOR ****'S SAKE).

LurveTheDoctor

... I'm thinking you don't know how much government workers make. Also, a lot of people's savings are in 401ks/IRAs/other assets that are not liquid because they have a steady job and know there will be a paycheck coming. That is, unless the government gets shut down, and who expected that?

Sorry but anyone who doesn't have a savings or any amount of money stashed away some where that is liquid, available and accessible because "they have a steady job and know there will be a paycheck coming" is rather daft. I had a steady job and a paycheck coming and yet I still had my 401(k) and a savings account because I don't believe in living paycheck-to-paycheck (which if you have nothing saved that's what you're doing) for one and two I didn't live in a fantasy bubble where I believed "it can't happen to me" because guess what? It CAN! (Thankfully it didn't and I quit my job to start my own business but believe me that savings came in very handy when my husband struck out on his own fifteen years ago).

And Romney expected the Government shutdown. I believe he said that if Obama was reelected that people should be prepared for a Government shutdown.

This exactly. Everyone should have at least 3mo pay saved up. We don't because we've been struggling after my husband UNEXPECTEDLY got out of the Army and Veterans disability benefits are a joke. If you've had a steady job for 20 years you SHOULD be able to have enough money in savings to pay your bills. I know we would have.. Shoot my husband was in the Army for 6 years.. We had 10k in savings (not as much as we wanted) and lived off that for quite a while.

Yes, the VA sucks. My husband also has veterans disability but refuses to go there because they're a pain in the tush.Thank goodness he has insurance with his job.

Yeah health care there sucks too. I'm talking about actual disability. They don't pay enough. Sucks.

sobriquet84

hasn't effected me but it has effected people in my family and some friends.

all i gotta say is that there better not be any taxes taken out of my check next month, or at least only have a prorated amount taken out if it gets up and running this month.

Mia_RagazzaTosta

It's really idiotic to say what people should or shouldn't do with their money or to assume you know what they do with it just because you've been given one teeny tiny detail about them.

Judgey Wudgey was a Bear....

I'm not judging. I'm stating simple facts that you'd think they'd have enough savings to cover their mortgage. If not, If they're military most loaners are helping them out.

I know USAA gave us our paycheck last time the gov shut down.

I remember when I was 23 and thought I knew everything, too.

captmiddy

People should be prepared for emergencies. No savings account? Forget luxury/nice things until you have one.
Ideally, you should have a year's take home salary in cash at a minimum.

I know that sounds impossible, but for many, it's really the difference over a few years of buying non-name brand, or skipping Starbucks.

Plenty of people I know "can't afford to save" waste $200-300 a month on coffee, donuts, video games, name brand stuff, etc.


Have lived like this my whole life. Still get to enjoy nice things.
And when the wife was out of work for a year, we were fine.

while I won't completely disagree, I think 1 year is probably overkill and a bad move. You should likely have 3 months in fully liquid savings, 3 - 6 month beyond that in 3 to 6 month plans which you can draw on within 3 month with little or no penalty and what you do beyond that to keep solvent in a long term situation without a job is up to you. The reason I think overkill is that savings earns only about 1 to 2% while you can find some nice mid-term programs that will get 3 to 4%. Sure this is putting the money at risk to some extent but a better option than just sitting on in a savings account.

I will completely agree on the statement of buying things we can't afford though. The pennies add up over time, a penny here and a penny there and you can build a nice safety net, and it should be a top priority. It is hard when you feel like you are just getting by month to month but every dollar you can squirrel away is a dollar you will have when you really need it.