No. of Recommendations: 7
Poor people have to drive crappy cars because they can't afford a new/good car. The crappy car breaks down all the time and they have to throw hundred of dollars--which they don't have--into repairs.

My own experience with relatives, friends, and especially the many co-workers I've seen who are not poor, but just above that level who live paycheck to paycheck, is the flip side of this: instead of saving regular amounts from their paycheck, they purchase brand new cars, the latest i-gadget, eat out more than make their meals, and an almost endless stream of silly-but-make-me-happy purchases.

Pete
Print the post  

Announcements

The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement