Left her kids in the car to go on a job interview?
Received 100K+ in donations?
Ugh .
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UGH. I hope she goes to prison.
How fucking hard is it to put aside money for your kids? No. You spend it on bullshit instead. DH and I dont spend half of what she does per month.
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I don't know. That budget seems super unreasonable. There is a lot of things she could cut back on BUT she was probably not taught how to budget her money well or how to save money on some of those items.
Aka, bundle cable/internet... get on the phone with the company to discuss discount rates. Combine phone / mobile internet and again get on the phone with the company to discuss discount rates.
I know she has 2 young sons but 500 dollars a month on food? That's crazy. Unless she's buying A LOT of processed / pre-made food or getting a lot of fast food. Also 300 a month for clothes is crazy... maybe 300 dollars in one month per year (back to school shopping) but not every month in the year.
Also the rate of her monthly "budget" means that she has to find a job that pays at least 70k a year to support that spending.
Again she probably just need to sit down with a financial adviser that can help her cut back on her spending instead of just giving lame excuses why she can't put 50k in a trust for her kids.
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6K for her baby daddy rap album!
I mean, come on. She's treating this like a cash cow. So selfish, refusing to set it aside for her kids! Wtf!
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i honestly don't understand how anyone would think she would spend this wisely. what she could have really used instead of a donation is a job, or job training, and a seminar on how to manage personal finances.
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@SleepyMonkey: agree!
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@blackbird: Haha yes I agree... again she probably has bad money management skills... I really wish money management was taught in high school or college. "Normal" people tend to just blow their money. I think I read somewhere that the average American has no emergency fund (aka 1k) and are about 7k in debt.
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That budget is ridiculous. The amount of money she is spending on cable, clothes, entertainment.. And $6000 for the rap album, what a joke.
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@SleepyMonkey: nope, it's sad when people donate, thinking they're helping someone out and get scammed. She easily could've benefitted in other way. Still. So much derp
@Raindrop: whoa
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@blackbird:
http://www.bankrate.com/brm/news/sav/20060621a1.asp
Fewer than 4 out of 10 Americans have an emergency fund. Though this article says an emergency fund is 3 months living expense where I always thought it was about 1k.
http://www.nerdwallet.com/blog/credit-card-data/average-credit-card-debt-household/
The average US household credit card debt stands at $15,593, counting only those households carrying debt. Based on an analysis of Federal Reserve statistics and other government data, the average household owes $7,274 on their cards; looking only at indebted households, the average outstanding balance rises to $15,593. Here are statistics, trends, studies and methodology behind the average U.S. household debt.
I thought it was 7k... it was but I guess they have since raised that to 15k.
A few years ago though... it was big news that student loan debt has out paced CC debt which was a shocker at the time.
I am super frugal because of my families past. Pinching every penny was something that was important to me BUT most of America does not feel that way.
So like sleepy monkey said... giving a person money and expecting them to manage it well (given that they have no history of showing they can do that) is super unreasonable. Some one has to be 1) passionate about money management or 2) be taught it and still passionate enough to take what they learn into practice.
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http://killermartinis.kinja.com/why-i-make-terrible-decisions-or-poverty-thoughts-1450123558
I read this not too long ago. It really opened my eyes to poverty thoughts. It's definitely one way to swing when hit with hard times. A lot of people are like this. When they get a little money... instead of saving it... they will spend it on pleasures because hey that's all they can look forward to.
When I was young... it was definitely tough life... I don't know what happened to me... but I went the opposite way... I'm kind of weird like that though.
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Just to add another shocking stat, 60% of NBA players and 78% of NFL players declare bankruptcy within 5 years of retirement.
Just like the lady in the article, I think most of these people sign "big" contracts but don't actually realize how to manage their expenses. Most have never seen $100k before and start spending like they are billionaires.
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@sunny: Good point! That reminds me... and I tried to Google but I couldn't find a good article that Lottery Winners also have a high rate of going bankrupt or becoming broke very quickly after winning.
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How disappointing.
I hope this bad apple doesn't discourage people from helping people who are truly in such a position.
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@Raindrop: I wonder what her budget was before getting the money
People are foolish. She was asked to do something responsible with the money and she still refused and is pissing it away.
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@blackbird: That's a good question because she had to work with WAY less before the donations. Maybe she went into CC debt? Just musing. I have no idea.
It's a hard reality... most people are foolish when it comes to money.
From her point of view though... Suddenly she has all this money... she could *finally* have all the nice things she ever wanted. She's definitely not thinking about responsibility.
Also it sounds like she's getting outside pressures... aka giving 6k to her baby daddy? I would highly doubt she did that on her own accord... he probably asked/demanded/pressured her for it.
Again I agree with you... but not everyone has a good head on their shoulders due to various reasons.
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More disappointing is that even with the inflated budget that she gave, that's still 2+ years of living expenses. Why is she running out within 8 months of getting the money?
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@Raindrop: I'm guessing she didn't spend $300 on clothing each month before and didn't have $70/month mobile internet!
Dang, mobile internet is pricey!
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@lilyofthewest: I'm going to guess friends and family are asking her to share the wealth or asking her for loans.
@sunny: Haha. Exactly! Though I think she could bundle the mobile internet with her phone plan... if I'm understanding what mobile internet is.
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@Raindrop: that's actually a fantastic article for anyone to read who has never had the misfortune to experience being "poor". Thank you for sharing that.
Ovbiously this woman isnt spending her money wisely, but given 100k, I don't think I would have the financial knowledge to do so either so I'm having a really hard time hating her for it. Fact of the matter is she probably has NO idea what to do with money, and that's sad. But that's life for so, so many people.
If you've ever seen any of the Lottery Changed My Life shows or anything similar it's a theme in almost every single person..they have blown through millions of dollars in just a few years. You go from having nothing to everything and your going to screw it up, it's almost guarenteed lol
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@MrsTiz: but people have told her what to do with it-ie put it in a trust for her kids!
But we are talking about someone who left her kids in a car, unsupervised, so not the brightest crayon in the box as far as I'm concerned
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@blackbird: yeah, well you can't fix stupid now can you?
not at all saying what she did was right or smart, but just that I can see how she jacked it up. Given a large sum of money I would def. set aside a large chunk for LO but that's just because that's high up on my priority list whereas $300 a month in clothes would never be lol
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@MrsTiz: I have such little Faith in society nowadays lol.
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maybe the rap album will really take off. sounds like a solid investment .
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@MrsTiz: Thank you. Your second paragraph is what I have been trying to say in this thread and you have said way more elegantly than I have in the ton of words I have wrote today!
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I read an interview she did that stated she still had over $70 grand (still not enough left for such a sort amount of time!) and that the only reason she didn't want to put money until the trust fund is because they are stipulated for if her children go to college. She said she wants that part removed before she puts the money in. Do I believe it? No, but I'd like to. It's a really disappointing situation. And the baby daddy rap album better be on point.
Dang, mobile internet is pricey!
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