Augie Posted July 12, 2017 Share Posted July 12, 2017 I always say "it's simple but not easy". But what if I really, really want a convertible in the fall? Surely there is an exception for that! Link to comment Share on other sites More sharing options...
Gugny Posted July 13, 2017 Author Share Posted July 13, 2017 the concept of being responsible is so simple, yet some people just can't adhere to it. the first rule is to always live within your means. then, pay off your debt, (high interest first), save for retirement, and anything after that can be spent. i know that this is a overly simplistic way of putting it, but as someone who has zero finance training, it's done well for me. It's simple to people in the U.S. brought up by responsible parents. But what about the people who had zero guidance? The ones who were tabbed as a cash cow once people knew they had talent? The ones who grew up in Cuba or the Dominican Republic whose school was baseball and "go get rich in America?" They're as human as we are and we, as a race (human) shouldn't just kick them out of the nest and say "good luck!" It's what separates us from lower forms of life. Or it should, anyway. Link to comment Share on other sites More sharing options...
Chef Jim Posted July 13, 2017 Share Posted July 13, 2017 It's simple to people in the U.S. brought up by responsible parents. But what about the people who had zero guidance? The ones who were tabbed as a cash cow once people knew they had talent? The ones who grew up in Cuba or the Dominican Republic whose school was baseball and "go get rich in America?" They're as human as we are and we, as a race (human) shouldn't just kick them out of the nest and say "good luck!" It's what separates us from lower forms of life. Or it should, anyway. Did you just say that Cubans are irresponsible and don't know how to raise their children to respect money? If those that are poor can't do that no one can. My mother grew up during the depression. Many of us who were raised by those of that era or someone who is poor are typically raised to value money because it was hard for them to come by. But for some reason in your mind Cubans (and those from 3rd world countries) have no idea how to do that. That's insulting. Link to comment Share on other sites More sharing options...
Gugny Posted July 13, 2017 Author Share Posted July 13, 2017 Did you just say that Cubans are irresponsible and don't know how to raise their children to respect money? If those that are poor can't do that no one can. My mother grew up during the depression. Many of us who were raised by those of that era or someone who is poor are typically raised to value money because it was hard for them to come by. But for some reason in your mind Cubans (and those from 3rd world countries) have no idea how to do that. That's insulting. Lo siento. Link to comment Share on other sites More sharing options...
Chef Jim Posted July 13, 2017 Share Posted July 13, 2017 Lo siento. esta bien. Link to comment Share on other sites More sharing options...
Joe Miner Posted July 13, 2017 Share Posted July 13, 2017 Gee, what a novel concept. Too bad the political establishment in the US has absolutely no interest in having a financially literate voting public. That's why I make my daughter pay me back for the supplies when she runs a lemonade stand. What I can never figure out is why these idiots are taking out loans all over town when they are earning millions per year. Good grief, if you can't live within a seven figure paycheck, you have serious problems. I asked mine for her business plan before I invested in her venture. When I explained what I needed, she was woefully unprepared to provide the information. Project was dead before it ever started. Link to comment Share on other sites More sharing options...
teef Posted July 13, 2017 Share Posted July 13, 2017 As a former lender, the mistake most people make is to live in a fashion that works if everything keeps going well. What happens when there's a bump in the road? THAT is the test. Always keep the emergency fund up and the resume updated. Chit happens... this is the truth. those bumps can cause real chaos. we also keep a pretty decent reserve, and we've had to use it on occasion. we bought a house a couple of years ago that was build in 1990. we knew we'd have to do some work to keep it up, but we were hoping to hold off. sure enough, last year our HVAC completely died. on top of that, we have an upstairs and a downstairs unit, so everything is double...two units, humidifiers, thermostats, etc. if we didn't have the reserve, we'd be !@#$ed. I always say "it's simple but not easy". it's not necessarily easy at all. especially when you're young. it's tough to tell someone who is just starting to earn that they should start saving asap. it's hard to wrap you head around the need. It's simple to people in the U.S. brought up by responsible parents. But what about the people who had zero guidance? The ones who were tabbed as a cash cow once people knew they had talent? The ones who grew up in Cuba or the Dominican Republic whose school was baseball and "go get rich in America?" They're as human as we are and we, as a race (human) shouldn't just kick them out of the nest and say "good luck!" It's what separates us from lower forms of life. Or it should, anyway. i've said it many times...i won the parent lottery. i'd like to think i'd be as responsible on my own accord, but who knows. Link to comment Share on other sites More sharing options...
Chef Jim Posted July 13, 2017 Share Posted July 13, 2017 it's not necessarily easy at all. especially when you're young. it's tough to tell someone who is just starting to earn that they should start saving asap. it's hard to wrap you head around the need. I'm big on stories to help people wrap their heads around something. Retirees who've planned: Retiree who's not planned: Link to comment Share on other sites More sharing options...
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