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CuddleChunks posted:This is a brand new way of thinking about money for me because until recently the idea was that you had to have credit card and car debt because otherwise you probably weren't an American. I really don't like that American stereotype; the fiance and I are Indian and were both raised the same way with the save, invest, then spend hierarchy. Our parents both worked in medicine, were good friends, and despite living well-off the only thing they truly spoiled us with was to not have the burden of college loans. In my case, it wasn't until high school that I completely realized why my dad would be investing rather than treating himself to luxuries like his co-worker doctors. We have friends who got married straight out of undergrad and now(we're 28) have kids who basically enslaved their parents. When they come over to chat, the main topic is usually over budget hardships and it's not hard to figure out when they do things like Disney World vacations EVERY year, have 3+ credit cards, and buy all this crap for their kids because "so and so bought x for their child and we want ours to be happy too." Acquilae fucked around with this message at 02:42 on Jun 25, 2013 |
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Jun 21, 2013 19:26
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_areaman posted:I think one thing that's changed in America is that many young people refuse to accept being poor. They get expensive, questionable degrees and take jobs that pay little, then blow everything they earn on expensive clothes, organic groceries from whole foods, restaurants, etc. if they can't have the best, then it's not worth living.
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Jul 4, 2013 02:55
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canyoneer posted:Blows my mind, man. You know there's got to be diminishing returns on those over-the-top weddings. Someone in the funding chain has to be thinking "that cake was cool, but it wasn't $2,000 cool."
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Jul 12, 2013 04:14
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ghostwriter80 posted:Why isn't financial literacy a substantial aspect of the public education curriculum? Hell, I don't think financial literacy is in the public school curriculum at all. I'm not a conspiracy theorist by any means but what reason can there possibly be for not including financial literacy, and education about money management, saving money, compound interest, debt, retirement accounts, investing, taxes, etc. to the general public from a very young age?
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Jul 25, 2013 22:20
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Uranium 235 posted:And saving for a down payment is going to take time. Can you get a good house in a good neighborhood in Chicago for $250,000? Because I don't see how you can save up for a 20% down payment for anything more expensive than that in only 2 years. Well, actually I can see how--you'd have to move into a cheaper apartment.
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Sep 1, 2013 22:36
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TLG James posted:I would have a car wash membership if I could get it for like the 2-3 months of winter driving.
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Sep 5, 2013 18:59
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So one of our friends asked for investing advice at the beginning of the month and I gave them my recommendations with the stocks I have in my IRA portfolio, writing only this on a piece of paper: Pick 1: AAPL, INTC, IBM Pick 1: COST, WMT, KRFT, K Pick 1: LLY, JNJ Pick 1: PG, UL Pick 1: GE, BA, GM Pick 1: XOM, CVX Got a semi-angry call on Wednesday with friend's wife telling me I gave him "bad investment advice" and those stocks have been an aggregate +1% over the course of two weeks and with her 3 minutes of security analysis experience said it was a bad time to invest as the market was down. She talked him into selling all the stocks, even CostCo which had a ~6% gain  P.D.B. Fishsticks posted:So it's going to be fun to see their bill next month. Acquilae fucked around with this message at 16:50 on Sep 13, 2013 |
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Sep 13, 2013 16:47
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canyoneer posted:Uhm, I'm going to agree with the wife (for different reasons). Telling someone who has no idea what they're doing to buy individual stocks is the very definition of "bad investment advice".
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Sep 13, 2013 21:43
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