Wonder how many cyclists already figured this out?

[Pax]

Interesting article from MSN about how people are going broke with car debt (hope this isn't old news).
http://articles.moneycentral.msn.com/SavingandDebt/SaveonaCar/TheRealReasonYoureBroke.aspx?GT1=8998&wa=wsignin1.0

[KnottedYet]

I'm going broke from medical bills and the skyrocketing rent for my apt...:(

[Pax]

I'm going broke from medical bills and the skyrocketing rent for my apt...:(

It's interesting how we can go broke by choice. We can spend HUGE amounts of money on things like a car, when we could easily choose cheaper forms of transportation (cheaper car, bike, bus, train). Then there are the things we don't GET to choose, like medical costs, higher rent (unless you live in a place where there is a cheaper housing choice), skyrocketing utility bills...

I have an '01 Ranger that cost me about 8k three years ago, I got rid of a 30k minivan to buy the Ranger...I found I was getting angry every single month when I wrote out that big check so decided to do something about it.

[Trek420]

...and wool :p

Yes, I drive too. But when I first shopped for insurance (and getting ready to do that again, who do y'all like?) and they ask my odometer and how old the car is, average miles per year etc I have to repeat it several times. "no, it's not 77,000 per year (can people do that? :eek: ) that's over the life of the '99 vehicle"

Then explain "I take BART, my commute is to-from the station and in good weather I don't even do that, I ride my bike".

But I think of it as recreation, fun and an investment in my health.

[Blueberry]

Mine is my HOA. It's fun to try to sell a condo when the dues are $243 a month, and we're on year 7 of 5 digit assessments. UGH!

Good article. Glad I'm driving a paid for car:) Just wish I didn't have such a long commute - there is no alternative arrangement - I've looked!

[Pax]

Mine is my HOA. It's fun to try to sell a condo when the dues are $243 a month, and we're on year 7 of 5 digit assessments. UGH!

Good article. Glad I'm driving a paid for car:) Just wish I didn't have such a long commute - there is no alternative arrangement - I've looked!

Holy COW!!! $243 a month just for dues??? :eek: I guess I'm spoiled her in the middle of nowhere, my last mortgage was only $500 a month, and the new mortgage we're looking at is around $750.

[mimitabby]

Then some of us drive 15 year old cars and buy expensive Italian bikes.
When I'm all through, the bike will be worth more than the car:eek: :eek: :eek: :eek: :eek: :eek: :eek:

[Blueberry]

Holy COW!!! $243 a month just for dues??? :eek: I guess I'm spoiled her in the middle of nowhere, my last mortgage was only $500 a month, and the new mortgage we're looking at is around $750.

They were 150 when we bought. We're talking about a small, modest condo here - we thought we were buying below what we could....

HOA has been very badly managed, and the sellers made a bunch of misrepresentations about how things were going.....

I really feel for people in more expensive areas (e.g. DC, PNW) - I don't know how they make it!

[Blueberry]

Then some of us drive 15 year old cars and buy expensive Italian bikes.
When I'm all through, the bike will be worth more than the car:eek: :eek: :eek: :eek: :eek: :eek: :eek:

When you put the Bike Fridays in my car, the value well more than doubles:D :D I kinda like it that way (though I'm starting to get the large firm pressure of you have to buy a nicer car to impress clients - my response - you can pay for it then...)

[mimitabby]

When you put the Bike Fridays in my car, the value well more than doubles:D :D I kinda like it that way (though I'm starting to get the large firm pressure of you have to buy a nicer car to impress clients - my response - you can pay for it then...)

There are some nice things about working in research and development, in a test chamber. The only car presssure going on around here is the guys seeing who can buy the biggest PU truck. and obviously, with my honda civic, i'm not in the competition!

[Pax]

I have to say, I'm in awe of Geonz. I see her riding to work, play, out with friends, in every sort of weather...she's got this car-free thing dialed in!

[mimitabby]

I'm in awe of anyone who can go outside in the pitch dark and/or rain
and ride their bikes to work.

[Bikingmomof3]

I am going broke on Orthodontia bills. Darn kids. ;)

[Bluetree]

Holy COW!!! $243 a month just for dues??? :eek: I guess I'm spoiled her in the middle of nowhere, my last mortgage was only $500 a month, and the new mortgage we're looking at is around $750.

Queen,
I am seriously envious at your $750 mortgage. :eek:
I don't know anyone who pays less than double that amount in my area (triple is more common)! I've been shopping for an affordable condo for years and can't find anything under $650k. As it is, my rent-controlled apartment is $1200/mo. and well below market value.

Great article - thanks for posting it.

[Bikingmomof3]

Queen,
I am seriously envious at your $750 mortgage. :eek:
I don't know anyone who pays less than double that amount in my area (triple is more common)! I've been shopping for an affordable condo for years and can't find anything under $650k. As it is, my rent-controlled apartment is $1200/mo. and well below market value.

Great article - thanks for posting it.

Wow! :eek: I thought the $651 mortgage I pay was a lot! I could not afford California.

[Pax]

Queen,
I am seriously envious at your $750 mortgage. :eek:
I don't know anyone who pays less than double that amount in my area (triple is more common)! I've been shopping for an affordable condo for years and can't find anything under $650k. As it is, my rent-controlled apartment is $1200/mo. and well below market value.

Great article - thanks for posting it.

Since I do social work and my SO is a librarian, I can't wrap my head around ANYONE making enough money to buy a $650k place. :eek: Right now we're renting a 2 bed/2 bath 1000sq ft condo with a garage for $665 a month, I guess as much as I wish we lived someplace more fun/interesting, there are definite perks to living here.

At this point we have a second car (we're out on the edge of town) but once we buy in town we're ditching the second car and keeping my almost paid-for little Ranger. I'm so looking forward to having my reasons and excuses for NOT riding to work disappear. :p

[Aggie_Ama]

I would love to be able to ride to work. The housing bust has not hit Austin. The only way DH and I could afford a house is to move out of town. We are 30 miles out- no way not to drive. Our home splits the drive between our works. I am looking into the bus, it will still require me to drive 10 miles. The only way to get there is a busy highway with no shoulder.

A 2 bedroom condo near my work would have been $20k more than our home. Houses in the area are 30+ years old and cost $30-50K more. Usually those homes need at least some repairs.

I just keep watching our car notes getting closer to paid off. The only way we are getting a new car is if we have a baby (we aren't trying soon), DH's single cab truck won't cut it then. I am amazed at my friends who have no plans to keep their expensive cars and continually trade in to be upside down. One of my friends pays $700 on ONE CAR!!

[Bluetree]

I am amazed at my friends who have no plans to keep their expensive cars and continually trade in to be upside down. One of my friends pays $700 on ONE CAR!!

I wonder about priorities, too. My cousin (who is dead broke) is getting married soon and she was given a choice by her father: the $100k wedding she asked for... or the down payment on a house. She chose the wedding. :rolleyes:

Then again, my family thinks my priorities are out of whack for riding my bike at 5am in 30° temps. :D

[mimitabby]

I wonder about priorities, too. My cousin (who is dead broke) is getting married soon and she was given a choice by her father: the $100k wedding she asked for... or the down payment on a house. She chose the wedding. :rolleyes:

Then again, my family thinks my priorities are out of whack for riding my bike at 5am in 30° temps. :D

Did you really mean a wedding that costs 100,000 dollars???

[KnottedYet]

Holy COW!!! $243 a month just for dues??? :eek: I guess I'm spoiled her in the middle of nowhere, my last mortgage was only $500 a month, and the new mortgage we're looking at is around $750.

I'm paying more than $800/mo just for rent! And they want to raise my rent $100 when the lease ends in June. I tried finding a cheaper place last June, but no luck.

The rental market here has finally caught up with the huge real estate boom.

Bummer.

[mimitabby]

Yes, and according to the local paper it's no bargain here to buy a condo either.

[Aggie_Ama]

I wonder about priorities, too. My cousin (who is dead broke) is getting married soon and she was given a choice by her father: the $100k wedding she asked for... or the down payment on a house. She chose the wedding. :rolleyes:

Then again, my family thinks my priorities are out of whack for riding my bike at 5am in 30° temps. :D


My friend was given the same choice. A $20k wedding or $20k. She took the wedding. That $20k is nearly the traditional 20% down payment on nice starter homes in Texas. And she and her husband are starting with her med school student loans.

My wedding was extravagant for my family at about $5,000. If my parents had offered me that in cash I would have taken it. My wedding was gorgeous, but one day wasn't worth that much. I don't have the fairy tale love affair with my wedding. With $5k to start us off, my DH and I would have had it a lot easier.

[Pax]

Well, if any of you want to give up beautiful scenery, pleasant seasons, rolling hills, and access to the ocean...Central Illinois will give you the opportunity to own a REALLY nice house for $150k and a dang mansion for $500k. :D

[Bluetree]

Did you really mean a wedding that costs 100,000 dollars???

Yup. Not too unusual around here, young people can be quite spoilt. My brother's wedding cost $150k (dress alone was $20k), but at least her physician-parents could easily afford it. My uncle, on the other hand, can not, which makes me less inclined to want to go to my cousin's wedding.

Everyone thought my bro's wedding was beautiful. Personally, other than the ceremony, I thought it was ostentatious, wasteful and a bit crass. I mean, what's the point in carpeting an entire ballroom in fresh rose petals? They stuck onto your high heels fer crissakes. People... get a grip! :mad:

[mimitabby]

My friend was given the same choice. A $20k wedding or $20k. She took the wedding. That $20k is nearly the traditional 20% down payment on nice starter homes in Texas. And she and her husband are starting with her med school student loans.

My wedding was extravagant for my family at about $5,000. If my parents had offered me that in cash I would have taken it. My wedding was gorgeous, but one day wasn't worth that much. I don't have the fairy tale love affair with my wedding. With $5k to start us off, my DH and I would have had it a lot easier.

I am glad I don't have daughters. It's sad when even I don't think a 5k wedding isn't extravagant... but I bet it could be done nicely for under 1K!

[KnottedYet]

$100,000 wedding! Holy Kamolee!! :eek:

I bought the exact car I wanted, when the price was down because the next year's was coming out, and traded in my rust-bucket that needed a new engine for more than it was worth without repairs. (I couldn't sell it because it had failed state emissions test, legally had to replace engine and pass test before I could sell.)

This car should be good for at least 10 years, hopefully 15. It's got a 6 year loan (eeeeek!) but at 4.5% interest. So I don't complain *too* loudly...;)

It's the first new car I've ever bought, and it was very nerve-wracking to take that step!

[Blueberry]

I can't imagine having that big a wedding! DH and I had a 20 person very informal wedding to make my parents happy (not that they paid for it, but they wanted the wedding). Didn't go into too much debt, but went through the "wedding day" stuff for the wrong reasons. Given our choice, we would have eloped.

[mimitabby]

Yup. Not too unusual around here, young people can be quite spoilt. My brother's wedding cost $150k (dress alone was $20k), but at least her physician-parents could easily afford it. My uncle, on the other hand, can not, which makes me less inclined to want to go to my cousin's wedding.

Everyone thought my bro's wedding was beautiful. Personally, other than the ceremony, I thought it was ostentatious, wasteful and a bit crass. I mean, what's the point in carpeting an entire ballroom in fresh rose petals? They stuck onto your high heels fer crissakes. People... get a grip! :mad:

Oh, Blue, that much $$ for a few hour of one day?? sounds like people
do need to get a grip. think of all the bikes... You could buy bikes for hundreds of kids with that money. and helmets too!
or... nice bikes for all the bridesmaids and groomsmen! and they'd still have money left over for a decent wedding, with food and favors and flowers

[indysteel]

She chose a $100k wedding over $100k for a home? Argh!!!!! I work for the United States Bankrutpcy Court, so it pains me to hear the arguably stupid financial decisions that people make. That, and I lack the "big wedding" gene; it's never been a fantasy of mine.

I have always comfortably but below my means, and I prefer to keep it that way. I'm amazed at the lifestyle of many of my friends and colleagues. They either make a lot more money than I think they do or are in debt up to their eyeballs (or a little of both). Why invite that kind of added stress into your life?

[chickwhorips]

i thought people only had those big expensive weddings on tv! :eek:

i'm spoiled living here. its going to be hard moving out of the bush. i have VERY cheap rent and no other bills, well besides what i use to play with. i'm trying to save up now, after getting myself out of credit card debt (which was oh so very very nice!) so i don't have to visit indy at her job.

just thinking about rent and purchasing a car, gives me the shivers. when i do though, i want something reliable but won't take me over the deep end.

[light_sabe_r]

Man... A car loan is something I'd NEVER go for. The interest rates are way too high and my Dad even said "There's only one loan you should ever have and that's a mortgage on a house"

I bought my first car outright for $5000. She's still running FANTASTICLY. Sure she's now 12 years old, but She's economical so I'm not spending much on fuel and I only use her now when I visit the parents... who live in in an adjoining shire a hilly 22km away. But even then I'm almost at the stage where I can start visiting them on the bike!

Rent's 260 per week, We're 4km from work, 7km from the city and just in a REALLY nice area. When we settle down and buy a house, we'd love to settle here. (which won't be for a while since the house market is falling and we don't even know if we're going to be here for that long) we'

[wannaduacentury]

Then some of us drive 15 year old cars and buy expensive Italian bikes.
When I'm all through, the bike will be worth more than the car:eek: :eek: :eek: :eek: :eek: :eek: :eek:

Well my bike isn't italian, but I did pay more for it than the last car I got off ebay. dh found it, has it purring for a 20 yr old Saab. and it's red :) We did real good on that one. Our game is to see how good a car/truck we can get for even less than the time before(that incl any mechanical fix-ups) We finally have all of our cars paid for and that's the way it'll stay. I can't see spending up to $400 a month on a car, when I can take that and go on vacation somewhere. Less is more for me. My advice: Find something you like, buy it, and drive it. Don't keep up w/ the Jones', be yourself and you'll save a bundle. Jennifer

[wannaduacentury]

I'm amazed at the lifestyle of many of my friends and colleagues. They either make a lot more money than I think they do or are in debt up to their eyeballs (or a little of both). Why invite that kind of added stress into your life?

AMEN! I don't understand it either. We live in a very materialistic world.

[Brandi]

Interesting article from MSN about how people are going broke with car debt (hope this isn't old news).
http://articles.moneycentral.msn.com/SavingandDebt/SaveonaCar/TheRealReasonYoureBroke.aspx?GT1=8998&wa=wsignin1.0
and don't forget the foreclosures for house loans. A lot of people are really going to hurt from that

[Pax]

and don't forget the foreclosures for house loans. A lot of people are really going to hurt from that

Can you imagine how terrifying it would be to be locked into an ARM you KNOW you can't pay and wondering when they're coming to take your house?? :eek: I am thrilled to live below my means so I don't have to have those fears.

[Brandi]

Can you imagine how terrifying it would be to be locked into an ARM you KNOW you can't pay and wondering when they're coming to take your house?? :eek: I am thrilled to live below my means so I don't have to have those fears.
Amen sister! I am with you on that one. We have no debt except our home loan. And we refied at the right time. We took no money out when we refied cause we want to pay off our home loan. I think we got a 4.7% interest. when we bought our house it 6.8%. Our mortgage payments arelike $735. and we add an extra $300. a month to pay it off. When we bought our truck back n 2002 it was interest free. So that was cool! And it is paid off now. Credit cards we use like cash. If we don't have it we don't use it point blank. The credit card company does not like us!

[Mr. Bloom]

Interesting article on cnn/money earlier this week. It places a $180,000 value on the benefits of buying less of a car

http://money.cnn.com/2007/01/12/magazines/moneymag/longview.moneymag/index.htm

We've only bought two new cars in our marriage...both for Silver. 30 years ago, used cars were bad deals...but quality is much better now.

[Thistle]

I can't imagine having that big a wedding! DH and I had a 20 person very informal wedding to make my parents happy (not that they paid for it, but they wanted the wedding). Didn't go into too much debt, but went through the "wedding day" stuff for the wrong reasons. Given our choice, we would have eloped.

I hear you CA. We wanted to elope and got talked out of it. If we had our time again, it would be elope elope elope. Our wedding cost less than $1k all up including my wedding dress ($250). We got married at lunchtime on a wednesday cos we thought it would be just us :p That way we got the flowers in the church for free from the previous saturday's weddings, and virtually no charge on the church. Admittedly, Wed lunchtime is not a "normal" wedding, but I really cant understand huge weddings :confused:

My jaw just dropped when i read $100K... then someone said $150K... are they completely nuts?????? :eek: :eek: I dont mean to offend anyone, but that's a lot of money!

[silver]

We've only bought two new cars in our marriage...both for Silver. 30 years ago, used cars were bad deals...but quality is much better now.

you're forgetting the Mazda 626 that you got. :p


Right and buying a used car that is still under a warranty has worked out great for us.

but it is certainly nice to have the cars paid off and not want any thing else. While I hate driving a mini van...a '98 minivan with some 115,000 miles on it, I LOVE quickly stowing my bike (and various tri equipment) inside the van all nice and secure!

[Mr. Bloom]

oops, you're right. That was 1986 and I kept it for 9 years and 134,000 miles.

In Bloomington, we have a member of the Forbes 400 (estimated net worth is $4Billion). He drives a '96 Cadillac and his wife a '94 Buick. They park on the street...because the city won't let them add a garage onto their house...

[crazycanuck]

One can also go broke just trying to fly to North america...****..I need to invent brooms that can fly at 35000 ft..
:D
c

[Tuckervill]

>>Did you really mean a wedding that costs 100,000 dollars???<<

For that much plus another 10k she could have my 3 BR/3 BA house with 1.5 acres in town with a 1200 sq ft workshop, a separate 1 car garage and a 20x12 studio.

Of course, she'd have to live in Arkansas. ;)

Karen

[Trek420]

Just think how many bikes you could get for that....:cool: :rolleyes:

[Fredwina]

In Bloomington, we have a member of the Forbes 400 (estimated net worth is $4Billion). He drives a '96 Cadillac and his wife a '94 Buick. They park on the street...because the city won't let them add a garage onto their house...
when I lived in Dallas, the newspaper reported Ross Perot drove a Chevy Caprice. most truly rich folks(as in monetary wealth) that I have know have had very plain cars.
personally , I'm jealous of my Brother and my SIL. they just bought a 60 year old two bedroom house for $50K. Of course, it is in Missouri.

[Geonz]

Good article - especially the fact that the notion of NOT HAVING a car was not only mentioned, but first on the list - even if it was a "long shot." Wow. The times they *are* a-changin'.

My mortgage is under $700 and I toss an extra "premium payment" in most months. I've been lucky enough to be able to buy my vehicles outright (that first truck needed a short term loan from little sister at savings account interest rates). No cable, no land line, no internet at the house ;) Every time I get the blurb from Insight saying "Only $70/month for internet and phone!" I think "Wow!! I'm saving $70 each month!!"

My cab driving brother is going to need a car soon and mine fits the bill. I had already gotten to the point where "If lightning strikes it, I'll take the insurance and take my time replacing it." I didn't start out this aversive to driving - but I've gradually expanded my "acceptable conditions."

Big however - I am out here in a college town in the central midwest! I was reminded how easy the learning curve has been tonight because both of my left-hand turns had the people behind me anticipating that I'd be turning left and giving me lots of room to get across (the first time the guy just wouldn't pass me and I figured out the driver must have recognized my bicycle). Then you realize the truth behind all that stuff the vehicular cyclists say about acting like a vehicle and being treated like one.... knowing that's a whole lot more likely to happen here, where there really is enough room and time to get to work on time.

But I get inspired by thinking of the profound and horrible impacts that our dependence on vehicles cause.

[mimitabby]

our mortgage is $1400 a month but it will be paid off in 9 years (we got a 15 year refinanced mortgage) It's hard to compare to people living in Arkansas and Illinois and Missouri, but we compare very well with people who live in large urban centers.

We DO sometimes have car payments, but after the car is paid off we make those payments to ourselves, so when we are ready to buy the next car, we have a considerable start. This year might end up a little different because of all the bikes coming into the family (ack, cough, choke :eek: :D :p ) but this is the way we've managed for the most of our marriage. We also don't have credit card debt. (yet!)

[Pax]

our mortgage is $1400 a month but it will be paid off in 9 years (we got a 15 year refinanced mortgage) It's hard to compare to people living in Arkansas and Illinois and Missouri, but we compare very well with people who live in large urban centers.

We DO sometimes have car payments, but after the car is paid off we make those payments to ourselves, so when we are ready to buy the next car, we have a considerable start. This year might end up a little different because of all the bikes coming into the family (ack, cough, choke :eek: :D :p ) but this is the way we've managed for the most of our marriage. We also don't have credit card debt. (yet!)

Just curious Mimi, what are property taxes like in Seattle?

Here on a small house (900 sq ft like my old one) they're about $1800 a year, for a typical 1400 sq ft 3/2 house they'd run around $2600-$2900 a year.

[mimitabby]

Interesting, my property taxes are about 1800 dollars. my house is worth about $300,000 if you can believe that. the house is about 2000 square feet

[Geonz]

I just noticed that there are stars at the bottom for "ranking" the article. (http://articles.moneycentral.msn.com/SavingandDebt/SaveonaCar/TheRealReasonYoureBroke.aspx?page=1 )

if you click on it, they'll know people are reading it :)

[Pax]

Interesting, my property taxes are about 1800 dollars. my house is worth about $300,000 if you can believe that. the house is about 2000 square feet

Our taxes here have gotten ridiculous, I have a friend who bought a new 1200 sq ft house in a small "bedroom" community about 10 miles away from town, she paid $114,000 for it three years ago. Her taxes are up to $3000 a year now and she lives in a town with no professional police force or fire dept.! I can't figure out what they're spending the money on???

[Pax]

I just noticed that there are stars at the bottom for "ranking" the article. (http://articles.moneycentral.msn.com/SavingandDebt/SaveonaCar/TheRealReasonYoureBroke.aspx?page=1 )

if you click on it, they'll know people are reading it :)

Thanks for pointing that out, if we let mainsteam media know that writing about bikes matters...maybe they'll write more?

[roguedog]

hmm.. i've got 3 cars... i dunno why but growing up i always liked cars. i wanted one for every season.

that being said. i don't have a car payment.

my 4rnr is going on 20 yrs old. still love it. it's my baby and my old trusty
my miata is going on 10 yrs old. bought used. paid off.
my acura is 8 yrs old... actually i'm trying to decide whether to keep this one cuz of the insurance payments. the insurance payments were never part of my childhood dream :) this is my dad's car and he just wanted to give it to me if i wanted it..

in fact, that's one of my to do's this morning is call on the insurance quote for it.

it's weird but they're kinda like shoes to me.

if i wanna take the dog or the bike.. i take the 4rnr (kind alike my hiking shoes)
if i wanna be zippy i take the miata (like my riunning shoe.. even tho i hate running)
if i need more than 2 ppl in the car, i'd take the acura (like my keens!)

but i agree with the article. i don't know why people spend so much on their cars. i've always wondered that. where i live, there's an apt complex and when i drive by i see really nice cars parked in there and try to figure out how they can afford the car and live in an apt complex.

but i think it's partly status thing. to look like something else. but for those folks that don't have much.. my theory is, if they can't own a house they can at least own the next big ticket item.. a really nice car. me? people tell me to get rid of my 4rnr cuz it's a pos but i can't cuz it's served me so well and why should i? it runs, it does what i need it to do. why add to the junk pile when it's still going strong?

wow.. i'm looking at your housing prices and am envious. living in the sf bay area.. anything below 400k is amazing. condos go for like 500k around here.

[Geonz]

I'm that way ("it's like shoes") about my bicycles. It was an easy transition :) Parade? Get out the Green Racer. SHiney but OLD and elegant. Party? THe Xtra cycle with the blender of course!!! Formal occasion? The Gazelle in all her statuesque glory. Time Trial? that Sunday-go-to-century Trek...

[mimitabby]

ah, I wish you gals could have heard the talk DH and I had about me buying a new bike.
red= raleighdon orange=mimitabby

You don't need a new bike...

I know

You already have 2.5 bikes

And so will you as soon as your new bike arrives.

Well, okay, but we can't build it up right away

of course not dear.I'm not in a rush

My next bike will be a ...

[Pax]

Having a bike for every occasion will only encourage you to ride often and leave the car parked...so it's a really good thing! :D

[Bluetree]

Having a bike for every occasion will only encourage you to ride often and leave the car parked...so it's a really good thing! :D

ENABLER!!!! :p

[Pax]

ENABLER!!!! :p

:D :D

[ridethewind]

Interesting, my property taxes are about 1800 dollars. my house is worth about $300,000 if you can believe that. the house is about 2000 square feet

Yikes! I live in central Illinois and my house is about 1700 sq. ft. Last year, I paid $3,000 in property taxes. The house is worth between $100,000 and $150,000.

[ridethewind]

Our taxes here have gotten ridiculous, I have a friend who bought a new 1200 sq ft house in a small "bedroom" community about 10 miles away from town, she paid $114,000 for it three years ago. Her taxes are up to $3000 a year now and she lives in a town with no professional police force or fire dept.! I can't figure out what they're spending the money on???

Public schools. There is way too much reliance in Illinois on property taxes for school funding.

[Crankin]

Property taxes pay for public schools everywhere in the US. It is the responsibility of the states, which give it to the local districts. I know that everyone complains about taxes, but generally, with schools, you get what you pay for. Education won't be equitable until we have an equitable method to fund our schools...

I am shocked that some of you pay $700.00 a month for a mortgage. I am "older" than a lot of you and my first mortgage, 27 years ago, in Chandler, AZ (not an expensive place at that time) was that much! You would faint if you knew what my mortgage was here in New England. I think people make choices on what to spend their $ on. When my kids were younger, I wanted them to have certain opportunities that were a stretch for us at the time. But it was worth it. The only debt I have is my house, but for a long time we lived on the edge. It's just a choice me made and I don't regret it.

[mimitabby]

hey guys, my house only has 1500 sq feet i just checked with the assessor's office stuff on line.

[hikeandbike]

Wow, our house payment is only $343 a month. Granted it is a fixer upper but it is warm and dry and we are fixing it up. Just saved $6000 on vinyl siding by buying it online versus locally, I live in Oregon. People my husband works with earn the same money and pay $1500 a month for the big houses, and another $500 for the new suv. That doesn't leave a whole lot of take home pay to keep up appearances on. He says it looks like a new car lot where he works, he takes the bus. His Taurus wagon is 20 years old and still runs great, a little tempermental at times--but aren't we all.
A different way of looking at how much it costs to drive is figuring your miles per dollar. My ranger gets 21 miles per gallon and I just filled up for $2.59 a gallon which when you divide mpg by the cost per gallon of gas, comes up to 7.5 miles per dollar.

[mimitabby]

Wow, our house payment is only $343 a month. Granted it is a fixer upper but it is warm and dry and we are fixing it up. Just saved $6000 on vinyl siding by buying it online versus locally, I live in Oregon. People my husband works with earn the same money and pay $1500 a month for the big houses, and another $500 for the new suv. That doesn't leave a whole lot of take home pay to keep up appearances on. He says it looks like a new car lot where he works, he takes the bus. His Taurus wagon is 20 years old and still runs great, a little tempermental at times--but aren't we all.
A different way of looking at how much it costs to drive is figuring your miles per dollar. My ranger gets 21 miles per gallon and I just filled up for $2.59 a gallon which when you divide mpg by the cost per gallon of gas, comes up to 7.5 miles per dollar.
wow, I'm impressed with your house payment.
I didn't know that you could find houses that inexpensive in Oregon!
by your calculations, i am getting 11 or 12 miles per dollar!

[Pax]

Yikes! I live in central Illinois and my house is about 1700 sq. ft. Last year, I paid $3,000 in property taxes. The house is worth between $100,000 and $150,000.

Do you live in CU too?

[ridethewind]

Do you live in CU too?

No, I live in Paris. I have aspirations to move to CU one day, but haven't made it yet. :)

[Pax]

No, I live in Paris. I have aspirations to move to CU one day, but haven't made it yet. :)

Paris is a nice small town but I think it would be strange to live where everyone knows your business. CU is just big enough that you get some anonymity.

[ridethewind]

Paris is a nice small town but I think it would be strange to live where everyone knows your business. CU is just big enough that you get some anonymity.

Paris is okay, but I really don't have much connection to the town anymore. I have worked in Danville for the last eleven years. I stayed in Paris because my children were attending school there. They have all graduated now, but I have yet to make the move. I definitely wouldn't mind some anonymity. :)

[Pax]

Paris is okay, but I really don't have much connection to the town anymore. I have worked in Danville for the last eleven years. I stayed in Paris because my children were attending school there. They have all graduated now, but I have yet to make the move. I definitely wouldn't mind some anonymity. :)

Well, if you decide to make a move to CU, PM me and I can give you some pointers about good v. yucky neighborhoods.

[mimitabby]

okay, i'll bite WHAAT does CU stand for? Chicago University,
Cover Up, Central Utah?

[alforfun]

I live in NY state in a beautiful area but things are soooo expensive. Gas is amongst the highest priced in the country, and I drive almost 70 miles a day to work. Of course, that is a short commute compared to most....a lot of people work in NY city, which is much further. Our property and school taxes come to $8000 a year, all for a 2500 sq foot house on one acre. Our mortgage was just paid off last month, thank God, but I still need to save to pay those damn taxes. I would love to bicycle to work, but it just ain't gonna happen. I do need a new dependable car, as my Buick Century is a piece of GM *&^&#37;#, but I hate the thought of another car payment, it is like the kiss of death. It gets depressing, you just never get ahead!

Oh, AND I have three daughters, 23, 21 and 19. I guess I had better save for those $100,000 weddings ha ha. What's wrong with burgers on the grill by the pool?? Or eloping?

[Pax]

okay, i'll bite WHAAT does CU stand for? Chicago University,
Cover Up, Central Utah?

Champaign-Urbana Illinois. It's the town I live in (it's actually two towns that are separated by a north/south street).

[Pax]

I live in NY state in a beautiful area but things are soooo expensive. Gas is amongst the highest priced in the country, and I drive almost 70 miles a day to work. Of course, that is a short commute compared to most....a lot of people work in NY city, which is much further. Our property and school taxes come to $8000 a year, all for a 2500 sq foot house on one acre. Our mortgage was just paid off last month, thank God, but I still need to save to pay those damn taxes. I would love to bicycle to work, but it just ain't gonna happen. I do need a new dependable car, as my Buick Century is a piece of GM *&^%#, but I hate the thought of another car payment, it is like the kiss of death. It gets depressing, you just never get ahead!

Oh, AND I have three daughters, 23, 21 and 19. I guess I had better save for those $100,000 weddings ha ha. What's wrong with burgers on the grill by the pool?? Or eloping?
:eek:
Do people who live and work there typically earn six figure salaries (they're pretty uncommon here)?

[chickwhorips]

Gas is amongst the highest priced in the country

the last i knew its $4.46/gal here. which was last month, so its probably closer to $5/gal now. seems to be going up exponentially and we have the cr@ppiest gas in the world here.

[emily_in_nc]

the last i knew its $4.46/gal here. which was last month, so its probably closer to $5/gal now. seems to be going up exponentially and we have the cr@ppiest gas in the world here.

Woah, that's amazing. Gas prices are going down here and have been for some time! From a high of $3.19/gal or so after H. Katrina, we just bought gas for $2.05/gal last weekend. And I heard today that the price for a barrel briefly dipped below $50, so prices should continue to fall.

Emily

[chickwhorips]

auto fuel prices go down every else, but never here. they either stay the same or go up. there is a HUGE monopoly here, no competition what so ever. same with the airline.

[Tuckervill]

My property taxes are about $500 a year when I take the homestead credit. My house is 1200 sq ft, and so is my workshop with about another 500 sq ft in other heated space, with an acre and a half of land.

Today I paid $1.94 a gallon for gas. Thirty percent of that was sales tax.

I don't have any income, but my husband does and he pays about $50 a week in state income tax.

We pay at least 8% sales tax on every little thing we buy. Depending on what municipality you happen to be standing in, it can be close to 11%.

We have many people that make six figures up here in NW Arkansas. We have more than our fair share of millionaires. Most of the millionaires got that way from being on the ground floor of Wal-Mart, Tyson, Jones Truck Lines and JB Hunt stock. We don't have any "old money", except the legacy of Winthrop Rockefeller, but he was slumming.

Karen

[Crankin]

Alfprfun, is that a 70 mile commute one-way? Yikes. Lots of people here in New England do that, but I had a fit last year when I moved 13.5 miles from work instead of 6.7. Your taxes are the same as mine, so lots of us pay what you do. My house is a little bigger than yours, but we just moved in a year ago, so it will never be paid off. I never expect to pay any house off or live anywhere long enough to do that! I paid my 3 year old car off last month in preparation for quitting work; my husband's car is next in a month or 2. Lots of people thought we were crazy to buy and remodel our house after our kids left; it's bigger than our last one, but we are so much happier here. I couldn't stand my old neighborhood, full of Stepford Wives. I am certainly not ready for the condo...
(No offense to condo dwellers, I mean the "retired" lifestyle. I hope people stop asking me if I will move to Florida. I lived there for 5 years and believe me, that will never happen).