My stepson works for Verizon in Chandler, Az. He is a customer service rep. He is always bragging how well he does financially and claims that he makes over $60,000 annually. He has been there maybe five years. It is not like he is upper management, he is not management at all. The funny thing is that he moved himself and his family into his sisters house because he can no longer pay his rent, bills, etc. He is also filing bankruptcy. He is hard for me to believe that a family of five cannot live on that income. Any comments.
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In life, it really doesn't matter how much you make, but how fast you spend it! You should never spend more that 75% of your net income or you will be headed for trouble. You should be saving the remaining 25% for life's inevitable little emergencies. Your stepson has likely dug a hole for himself with credit card bills, mortgage payments and maybe even car payments. People who make a lot of money often become overextended because they get lulled into the false expectation that the money will always be there -- and all of a sudden they find that their bills add up to more than they are taking in which results in financial ruin.
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