1. Alex and Morgan budgeted very well. They were both wealthy, educated people, they knew what they were getting themselves into when they when on this journey and knew how to handle themselves. Alex was a bit more cautious and reserved with their money. She walked to work to save $2.50 and didn't want to spend any more than was absolutely necessary. Morgan, on the other hand, thought they needed to have fun occasionally. He took Alex out to dinner on her birthday, he bought his niece and nephew candy and took everyone to the movies. Morgan decided to make the most of their time and not just stay cooped up in their dingy apartment. Alex was able to pull herself along, but she would have rather only used enough money to keep themselves going, not have fun. Overall, however, they spent what was necessary to stay alive and well. They both worked their butts off, Alex at the cafe and Morgan working two strenuous jobs. They got free furniture and food as they could, and walked to save money. They kept emergency money in a pocket in case they ever got stuck, and found the cheapest form of everything possible. They did everything right and their budgeting worked, but by the end of the month they were still $1,000+ in the hole, due to medical emergencies and other crap life threw at them. They did all they could to keep going while working on minimum wage, but it still wasn't enough. No matter how much you budget, you still have to keep yourself alive and well, which won't always ensure you're out of debt.
I think you bring up very good points about how their budgeting worked. Like you said, they seemed to do everything in their ability to budget well. Even when they did "splurge," they still bought very cheap treats. The point that they brought up at the end about medical expenses, was probably the most important part of the whole experience. Many people think of medical care as a necessity, but by the looks and high pricing of the hospital bills, that would be something that would have to be avoided at all costs in order to stay away from extreme debt. This shows that sometimes debt can be unavoidable, no matter how much budgeting is done, simply to keep alive and well.
ReplyDelete-Molly Maloney
I think what you said about how even though Alex and Morgan did "everything right", they still ended up very much in debt. This post made me question how well the system really works and whether or not you can really get by on minimum wage. Your life would have to go perfectly in order for you to have any money left over, and nothing is perfect. This was shown by the fact that in only 30 days, Alex and Morgan both went to the hospital. I like the fact that you touched on the seeming impossibleness of the situation Alex and Morgan put themselves into. Overall, it was an interesting and engaging post.
ReplyDelete-Sarah Johnson