One of them just sent me a text wanting to know more about the Dave Ramsey stuff. His wife works at the hospital and is pregnant. They want to let her stay home until this blows over but they cant afford it due to all the payments they have going out. I know 2 weeks ago he financed 13k on a 2005 silverado.
I'd bet my underwear from 2004 that each of those youngsters has a parent backer. They can't be that disconnected from reality without having a perpetual source of bailout for when their car breaks down, when they get a $150 doctor bill, or need a new phone. Lots of them are still on parents phone plan, getting their car insurance paid, and their parents arrange to have their taxes done.
Yup. The helicopter parent kids are now out in the real world and it is a disaster for many of them.
We aren't closing the doors anytime soon. Our busy season is only a few weeks off and this will have little to no effect on it. We run all winter long on operating loans so we havent noticed a thing (interest is cheaper than taxes). It is a semi seasonal business and our product is in the warehouse just waiting for the rest of the frost to come out of the ground and things to dry up before we get going. We generally take 1/2 down and bill for the balance after they take delivery. Our customers for the most part are retired people that weren't going to get laid off or something like that and also a good portion of them receive and insurance check. I don't see it being much of an issue getting paid for the contracts we have unfulfilled.
They need it now because they spent all their money on toilet paper and hand sanitizer.
I have helped my kids on occasion but they seem to do fairly well on their own so I don’t interfere financially. Now that they have Shut down most business the next step is all business. I figure that will be over the next week or so. They will be out of work. in my mind I know it’s going to be tough on them but I’m only going to step in if they need health help. This whole thing is going to be a very big wake up call to a lot of people on how they manage their lives. The generation that has lived through the Great Depression and everything since definitely have a different view of how things work than the younger generation now. But, these young people are smart. This might change a whole generations thinking and that can only be good for the future We can hope.
I agree and disagree. They might be smart but it's certainly not STREET smart and that is a problem in my opinion. They know everything there is to know about video games and gender assignments at birth but if they have a flat tire they are calling someone to come running to the rescue.
