Because then you are excusing their irresponsible behavior.
Seriously? Why can't someone be poor for more than one reason? Let's say I like buying slushies, a sugar drink associated with tooth decay. And then someone comes along and hits me in the mouth with a baseball club. Is my slushie evidence that I didn't lose my teeth due to being hit with a club?
Of course people can be poor for more than one reason. But your analogy is a poor one as a baseball bat is sufficient to knock out healthy teeth as well.
Let's say two families making the same get an unexpected bill, say their car's head gasket blows or the transmission needs to be rebuilt. Would Abbots, who are over-leveraged with things they can't afford be in a good position to take care of it? Hardly. But Abbots prime, who did not rent-to-own from Buddy's but instead have some savings and worked to fix their credit can.
So yes, there are different reasons but these work together, one bad hit doesn't make prior poor decisions irrelevant - quite the opposite! Poor decisions have a detrimental effect in one's ability to absorb financial hits.
Yes, I know you don't. But then you aren't the person in situation making the decision. The article cited several reasons, from 'wanting to feel normal' through to the fact that the old sofa was gouging holes in the floor (A serious problem in a trailer)
You mentioned a fancy new sofa being conducive to getting a new job. As to their stated reasons, how about putting something (like furniture pads or a rug) under the legs of the old sofa to prevent it damaging the floor? As to "wanting to feel normal", how is digging ever deeper into the debt hole going to help with that?
Listen, I am not opposed to them getting new furniture if they do not want to buy from Craigslist. But IKEA has an Ektorp sofa for about $500, a matching loveseat for $379. You do not have to buy them together. They could have waited a few months, set money aside, bought the sofa for cash, rinse and repeat for the loveseat. May not be the $1,500 set they really wanted but we all have to compromise in life.
Two people sitting in close proximity used to imply a courting couple, hence love seat.
Thanks.
All of which were mentioned in the article that you read.
Yes, I did read their excuses. Except they do not hold water. They did not have to have the furniture at once. If they waited a month or two they could have afforded a gently used Craigslist sofa. A few more months and they could have paid for one of the cheaper brand new sofas at a place like IKEA. In the end they could have had new furniture and saved thousands. It would just have taken a bit of patience and strategic planning. It's really like that marshmallow experiment.
Again, I'm not sure why you want to get into the business of analysing the choices of the poor, and lambasting them from your armchair. Can you give a reason why this is useful?
Because I think that their lives would be better in the long run if they spent money more wisely. Also because when I am on the computer at home I am usually sitting in my office chair, bought last year from Craigslist for $20.
So the problem is that they shouldn't have nice things?
I do not have a problem with them having nice things. But they should work on getting out of poverty first and then they can afford nice things. Buying nice things now and digging deeper into debt is really counterproductive.
I didn't ask you for a solution, I asked you why it was an important problem
People drowning in debt is a problem I think. Especially if it's not from something unavoidable but due to utterly preventable poor choices.
Ok, so poor people aren't allowed to have nice things. There's an easy solution - just make theft legal from anyone who earns less than a certain amount per year.
Or we alternatively make it legal for people making under a certain amount per year to steal from stores. That way they can have all the nice things they want without going into debt. Two can play the "modest proposal" game.
That way they'll only ever have stuff no one else wants, and eat stuff no one else wants to eat, to show that they're poor.
It's not a matter of "showing they are poor". It's the matter of what they can afford. It's a matter of prioritizing spending to improve one's long term financial situation.
However, I'm still waiting for some explanation as to why this is a problem. You say it's a problem, but not why.
Frankly, I fail to see how you do not understand how people living well beyond their means is not a problem.
Are you jealous of their trailer?
Hardly. But I do not want them to lose it either. And if they continue acting and behaving like they do they are in real danger of doing that.
Or is it just that a rocking mini-sofa is too good for them?
Mini-sofa? It's a full sofa and a loveseat. Cash price $1,500. Total price $4,150. Yes, I do think that it is too good for them at this point in their lives.