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When I was poor I wanted this and that and this and that. Now that I am no longer poor for some reason that stuff doesn't matter any more. Don't get me wrong, I don't live like a pulper but I view and spend money differently.
^^^ Total truth. What do most people do with their tax refunds? Go out and blow it on frivolous crap. Putting it in savings is better and you soon have holdings and skin in the game of finance.
What did most people do with the money they got from the "stimulus"? It was meant for people to go out and blow in the marketplace so business would show some improvement. I banked mine as should have most people.
I am a spartan fool and hate blowing money needlessly. I get brand new jeans at the local thrift store for working around the house. I get assorted shirts there for the same reason...why ruin my own good duds when I can get that stuff for under $10?
Result? My checking account loves me.
It would make far more sense if the government hadn't artificially driven down savings rates to near zero (rumor is they will soon be negative) to benefit Wall Street.
You are in a prison of your own making. Move. Simple as that. Are there bars on the windows and armed guards at the doors?
Apparently.
Quote:
Originally Posted by nicet4
With trillions being passed on, can today's baby boomers break the cycle?
No money is being "passed on."
Learn the difference between money and assets and get back to us.
Quote:
Originally Posted by armory
^^^ Total truth. What do most people do with their tax refunds? Go out and blow it on frivolous crap. Putting it in savings is better and you soon have holdings and skin in the game of finance.
Americans still don't have enough savings
More than a quarter of Americans have no emergency savings, according to an annual survey released Monday by Bankrate.com. Of those who do have savings, 67% have less than six months' worth of expenses, what Bankrate calls the recommended amount, and those with at least three months' of expenses declined from 45% in 2013 to 40%.
Unfortunately, the most surprising thing about the survey results is that they haven't changed in recent years, says Greg McBride, chief financial analyst at Bankrate. The percentage of respondents who have said they have no emergency savings has fluctuated between a low of 24% and a high of 28% since 2011, Bankrate data show.
Looks like more class warfare jacking up the rents for singles and keeping them poor.
Are you ever going to prove your claim that it is $60 TRILLION in cash or do you just intend to continue ranting about zoning laws?
The only class war here is the Intelligent Class versus the Stupid Class....
When I was poor I wanted this and that and this and that. Now that I am no longer poor for some reason that stuff doesn't matter any more. Don't get me wrong, I don't live like a pulper but I view and spend money differently.
I don't understand the point here.
When I was in poverty growing up it made me only desire the bare essentials.
Now that I'm in the middle class I view and spend money the same way: only the bare essentials (aside from travelling).
My choices are better only because having more money gives me more access to info/options.
I know for a fact I'm much more frugal/thrifty now than I was when I was poor.
Poor people are limited in their decision making due to not having money in the first place.
When I was poor I wanted this and that and this and that. Now that I am no longer poor for some reason that stuff doesn't matter any more. Don't get me wrong, I don't live like a pulper but I view and spend money differently.
I still hear about the morning I would not give my husband $10 when it was his turn to buy donuts for the guys he fished with.
His compliant......we had just cashed the first check for a well we drilled that the bill was over $10,000.
In our area,those with excess money are buying up land and are bidding against each other for choice parcels. In doing so they are driving up prices to the point that regular middle class folks can not play in the game. As long as we are willing to work for them at their prices we can be content.
In our area,those with excess money are buying up land and are bidding against each other for choice parcels. In doing so they are driving up prices to the point that regular middle class folks can not play in the game. As long as we are willing to work for them at their prices we can be content.
Correct....stop working for others....it just makes them money...not you.
Learn the difference between money and assets and get back to us.
Americans still don't have enough savings
More than a quarter of Americans have no emergency savings, according to an annual survey released Monday by Bankrate.com. Of those who do have savings, 67% have less than six months' worth of expenses, what Bankrate calls the recommended amount, and those with at least three months' of expenses declined from 45% in 2013 to 40%.
Unfortunately, the most surprising thing about the survey results is that they haven't changed in recent years, says Greg McBride, chief financial analyst at Bankrate. The percentage of respondents who have said they have no emergency savings has fluctuated between a low of 24% and a high of 28% since 2011, Bankrate data show.
Are you ever going to prove your claim that it is $60 TRILLION in cash or do you just intend to continue ranting about zoning laws?
The only class war here is the Intelligent Class versus the Stupid Class....
mircea
??? I never believed for a second that $60 TRILLION in cash even exists. I imagine that about 98% of that is in assets rather than in cash.
But you claim to know a thing or two about Economics and specifically about Supply and Demand. What do you expect the supply of rentable rooms - and rents charged for those rooms - to do when a college town changes the number of unrelated individuals allowed to occupy a house from 4 or 5 to 2 or 3?
When I was in poverty growing up it made me only desire the bare essentials.
Now that I'm in the middle class I view and spend money the same way: only the bare essentials (aside from travelling).
My choices are better only because having more money gives me more access to info/options.
I know for a fact I'm much more frugal/thrifty now than I was when I was poor.
Poor people are limited in their decision making due to not having money in the first place.
I've been poor for so long that I can't think of anything (other than a modest and peaceful place to live) I would pay for if money were not an issue. Previously I worked a short walk from a shopping mall; one day I decided test my thinking by walking through the mall...there was literally nothing in the mall I wanted.
I've been poor for so long that I can't think of anything (other than a modest and peaceful place to live) I would pay for if money were not an issue. Previously I worked a short walk from a shopping mall; one day I decided test my thinking by walking through the mall...there was literally nothing in the mall I wanted.
The poor are severely limited in choices...especially quality food choices in urban areas. They also are less likely to own a vehicle in large cities which makes buying in bulk (to save $) tougher.
All I know is moving into the so-called middle class has made it much easier for me to NOT spend as much money as I did when I was poor. Definitely percentage-wise of my income and even outright.
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