Note: rare rant alert.
I was reading an article in the Sunday newspaper where the financial situation of a family of 5 were described in-depth, asserting that the middle class is in a downfall. The family lives in the Virginia suburbs of Washington, DC. They have a nice house, one car and one truck, and a $90,000 per year income between both adults. The kids, ages 8, 10, and 13 are enrolled in a good public school system.
One would think that on that income, they would be able to live comfortably. Perhaps not be able to buy all the latest toys, go out for entertainment often, or drive the latest snazzy yuppie-mobile, but they’re doing okay.
The story, however, revealed that this family claims that they are barely making ends meet and last month, were late or didn’t pay the bills for utilities such as electricity because they had to reallocate resources to buy a used car to replace one that died. Now their credit rating is taking a nosedive.
How can it be that they are in such a financial mess?
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