Is it just me or am I the only one not hurting right now?

Question

I don't understand why everyone is worried. Sure gas prices are high and food prices have gone up but I can't say I am hurting to the point where I need to change my lifestyle.I actually found a lot of good bargains because people are selling their stuff off for cheap. I think the only people hurting are the ones that were hurting in the first place. . Agree or disagree?

Answer 1

Some (actually, quite a lot) of people have been living at the edge of their income .. every penny they earn is spent every month ..

Some have even borrowed on Credit Cards (and are paying back the minimium each month) to feed their spending  habits .. when one card is maxed out, they have simply applied for another one ..

As prices have gone up, theses people have simply run up  their Credit Card balance faster ..

Now it's starting to come apart .. Card Companies are not handing our new cards so easily & have started demanding higher minimium payments and some have started reducing the max. allowed balance ..

People are finding that not only is their source of credit being cut-off but they actually have to start paying back .. this is a 'double whammy' ...

Some-one on 'average' Salary might be taking home £1500 a month .. but they might well have £10,000 outstanding on their Credit Cards & would have been paying £300 (3%) a month in Interest .. and perhaps borrowing another £100 every month in additional spending ... so they could have been spending £1500-£300+£100 = £1300 a month ....

Now they are refused the extra £100, PLUS their minimium repayment's have risen to £500 (5%) ... so they now have only £1500-£500 = £1000 a month to spend ..

Answer 2

I'm not hurting either however I would really like to sell my place and move but I can't because my condo cost almost 200,000 less then when I bought it.. I think the people who are hurting are the ones who lost their jobs or house and just because you and I still have our jobs a lot of people do not right now.. The worst is not even hear yet..You should thank your lucky stars that you still have your job because you may still lose it.  Grocery prices are going up also so if your single that might not affect you but it definitely affects the households that have multiple kids or even one and then to drive them back and forth places...that could hurt....bye!

Answer 3

No I havent changed either, but if gas keeps going up I will.  The news makes it sound like its worse than the great depression anyway!

Answer 4

All those people should have known they couldn't afford all those pricey homes on their salary. It's their own d**n fault for being stupid.  

I'm doing better than great, by the way.