have recently seen many local news articles here in Utah. We are one of the state's that do have some of our workforce at these jobs. The news paints a picture of struggling Americans who are standing in line trying to get a job trying to get unemployment benefits or trying to get food at a food bank. Not to mention Church help with their mortgage or food. I want point out a different side of this picture that no one will talk about because A they feel it's irrelevant or B the economy has benifited from these booms so nobody want to let their fellow neighbors know there is another way to weather these storms. Neighbors want to continue to compete against their neighbor showing off artificial wealth until a disaster like this happens then all of a sudden there is a plethora of brand new trucks four wheelers and cars on the classifieds that these people have NEVER been able to afford. They purchased on credit and now rely on the generosity of their neighbors an entitlement from their government and a fair share of their churches welfare all the while THEY brought upon themselves alot of this misery.
For those who have had a great paying job out in the oil field and now are unemployed, I have a small questionnaire for you.
1. How many vehicles do you currently have?
2. Are you financing those vehicles?
(If no skip to 5)
3. How much total is left on the loan?
4. How long have you had those loans?
5. Do you own any recreational vehicles?
(If no skip to 8)
6. Do your recreational vehicles have loans on them?
7. How much do you owe on those recreational vehicles?
8. Do you own or rent a home?
(If rent skip to 10)
9. Is your home mortgage more than 250000?
(If no and you skipped from 2 to 5 to 8 congratulations you passed! Feel free to answer 10)
10. What did *YOU* do to prepare for this kind of and emergency???
11. If you answered 3 4 and 7 do you still feel ok asking for help even though you know you helped cause your financial worries??
These are questions one should really think about. Seriously! We have just recently climbed out of a recession! It wasn't that long ago! And still people who get these high paying jobs go out and spend like there's no tomorrow racking up 10s of thousands in car loan and credit card debt on frivolous purchases that crash in value and become a hindrance when you lose your job!
So you need help huh?
(Oil field worker who lost his job)
Estimated payment 1060)
You need me to dig deep and donate generously?
(Another oil field worker
Estimated payment 900)
I should probably be more generous in my fast offering donations.
(Oil field wife
Estimated payment 420)
So you can continue to live in that nice house?
Drive your nice truck?
(Estimated payment 590)
Have my kids donate food at the school food drive because your food money went to your sports car?
(Estimated payment 390)
Why do you need to get rid of this payment? How are you suppose to impress people at a stop light your never going to meet?
If you think that's shocking.
Meet Ted.
Ted has just became my first contestant of the ICAI Award for March. Ted is not an oil field worker. He works at an insurance agency although you couldn't tell that lately because it seems as if Ted is changing careers to be a car salesman.
If your looking for a truck he's got that available too.
And if your the person who likes the rugged outdoors he's also got this.
If you haven't caught my sarcasm Ted is not an actual car salesman. No, he's dug himself into a hole of debt and because his buisness is around the oil industry it is my hypothesis, my assumption that Ted has lost Alot of income and because of that he can no longer afford his 116 thousand dollars in car loans.
REALLY TED?
REALLY ?
It's artificial wealth Ted! Not real!
I love listening to Dave Ramsey. I haven't had the chance lately because he doesn't come on till 7 and my wife can't stand him. I used to go to work at 5 a.m. finish my route around 4:30 p.m. hurry to the plasma center to get a few bucks run to the grocery store and on my way home listen to him. I found this on youtube just last night. It's amazing how much we think alike. He's taken the words right out of my mouth.
Oil workers
Ted
Everyone who has a car loan listen and learn!
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