The Jones' are broke!!

[OregonMom]

For years my husband and i tried to keep up with the Jones and we went broke doing it. We lost our house, gave back the cars and filed Ch 7, which was discharged in June. Well we couldn't be happier right now, no bills, rent payment is half of what the old house payment was, we put money into the savings and we only have one small car payment. When the family with the new truck, trailer, quads, and boat passes us on the freeway we smile smugly and comment we are glad we aren't drowning in debt to keep up with the Jones' anymore. The Jones' are broke and miserable. We finally get to enjoy life, both of our jobs have picked up in this economy and we have learned to save. Fishing is cheap, fun and relaxing, walking the dog and riding bikes with the kids is more fun than spending $60 bucks at the movies! The kids don't have a game system, never had. The toys from garage sales get just as dirty in the mud out back as do the expensive ones from the store. We have learned that the best things in life are free, home baked is best, how much you make isn't important, and we have a much better life now since we quit trying to keep up with the Jones'!! (they are just broke and miserable!)

[justbroke]

Ooops... I didn't know anyone was trying to keep up! Well, we all learned a valuable lesson. I never did have any of the expensive toys, but certainly spent my fare share on real estate.

[OregonMom]

We just tried too hard to live like most of our families and friends did. Our friends and family are now asking us about our BK since they are broke and can't continue living like they were living. A very close family member, who I thought was well off came over the other day and admited that they had $40 to their name, their savings was gone, they were overdrawn on their house and had no credit left and no way to pay the bills. I am just shocked at how many people I know can't do it anymore.

[justbroke]

For the first time in like 15 years, I recently had to borrow $300 from a friend. Albeit it was for 2 days to keep my electricity on... it was still very tough to ask! I was the go to guy my whole life! I was the one who bailed everyone out. Now I need a bailout!

[mike59]

We just tried too hard to live like most of our families and friends did. Our friends and family are now asking us about our BK since they are broke and can't continue living like they were living. A very close family member, who I thought was well off came over the other day and admited that they had $40 to their name, their savings was gone, they were overdrawn on their house and had no credit left and no way to pay the bills. I am just shocked at how many people I know can't do it anymore.

Same here. It is the economy. I've never seen it this bad in my days.

[OregonMom]

My husband says we took our bailout in the form of our Bk.

[justplaintired]

My husband says we took our bailout in the form of our Bk.

Us too. If the government can bail out banks, and leave us to fend for ourselves, then BK was out bailout. I believe no matter what they are saying in the news, the economy is far from being strong. I know so many people in the town I am in who are struggling with hour cuts, loss wages, loss jobs, that it is scary. So we are attempting to save ourselves, with BK we are basically debt free and having learned how much stress debt brings, I won't go down that path again, even if it means we drive older cars, wear garage sale clothes, and have to save to have new things. It's ok living this way, matter of fact it's peaceful, if only I had known what debt could do to a persons joy for life, I wouldn't have ever walked down that path.

[jeepnut]

When my Real Estate biz was rocking, we had boats, new crew cabs, tricked out Jeeps, etc. Now...fast forward, we walk 3-5 miles every night or ride bikes depending on our moods. I've also been getting really good on our old Weber Grill! We no longer eat out, or very rarely as it's expensive and with a little time and patience you can outcook any restaurant. Now that we don't have the money stress, business stress, etc. my wife and I actually get along again!

[Billssuck]

Uh...I am the Jones'! No really...that's my last name and it is true: we were miserable, broke, and filed BK too. We are still in the learning process from all of this but are starting to see the fun in the simple life: Checking out books from the library, going to the park (free), borrowing movies from friends, and thinking of new ways to save money. I really like going to garage sales now too...

[StartingOver08]

Ooops... I didn't know anyone was trying to keep up! Well, we all learned a valuable lesson. I never did have any of the expensive toys, but certainly spent my fare share on real estate.

This was my issue too!
Next time I will buy a home for cash only...
Had too many rentals and not enough rental income!

[fooked]

This was my issue too!
Next time I will buy a home for cash only...
Had too many rentals and not enough rental income!

I'm with both of you... the market crushed me...

[HRx]

Good to see you're learning how to live within your means, and pay yourselves first. Having cash in the bank is a refreshing feeling.

[frogger]

This was my issue too!
Next time I will buy a home for cash only...
Had too many rentals and not enough rental income!

Same here. People don't realize how easy it is to get upside down on rentals QUICK!

And as to the Jones, they don't mean anything to me anymore. Just wanna smack 'em....

[BKOnce]

Mrs.. Mrs.. Mrs. Jones!!... we have da thing going on...

[justbroke]

Mrs.. Mrs.. Mrs. Jones!!... we have da thing going on...

Now that explains everything!