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M3 and Love, most of the wealthiest people I know are fairly conservative with their money. One drives a Mercedes, but it's 10 years old and he purchased it used five years ago. Another wears flannel shirts from Sears and drives a pick up. In fact his big treat to himself is the purchase of a shiney new red pickup every five years. They all have nice homes, but none are ostentatious or what would be considered a mansion--even though several of them could easily afford one.
Many (not all) of the people I know that have lower incomes tend to squander their money. They buy things that leave me scratching my head, for example "collectibles" off infomercials that will never increase in value, but they are convinced that they'll be able to sell them at a profit down the road and cover their retirement that way. Some are also known to spend the rent money on concert tickets or buy a 50" flat screens at a rent-to-own place. Instead of shopping sales and using coupons and making nutritious home cooked meals, they go to McDonalds and order off the value menue.
I've stated many times that I think a life skills class which includes information on budgeting and investing should be mandatory for all high school students, but in all honesty I'm not sure how much it will help. People will be people, and you can't teach common sense.
Oh please........save the tired old cliche of horse crap will ya! NOBODY in America has made their own wealth. NO ONE! Business people and CEOs get rich because middle class Americans buy crap. Rich frugal people are hilarious. If the middle class saved all their money the rich wouldn't make any.
I disagree. There are a lot of people in this country who are self-made through hard work and being smart. Read The Millionaire Next Door and then get back to me.
You know, what's ironic in a way, and I imagine you know all about this from personal experience - the people who are not skillful, smart, etc. enough to be worth a big wage, tend to be not skillful, smart, etc. enough to spend what they do get efficiently and effectively. So what is a living wage anyway? DW and I probably spend less per month than the average Joe Lunchbucket type on food, certainly on utilities (we heat with firewood that can be had for the trouble of hauling it in the summer) and our house payment is less than rent on a cheap apartment around here, while the house is easily worth 3X what I paid for it 20 years ago.
Dr. Thomas Sowell has written several excellent books about how socialism actually works and how it backfires. Anyone who is not familiar with him should give him a try, Google the name, he has a syndicated column. One thing I like about his writing is how cleanly and clearly he lays his argument out, he's not at all hard to follow, makes you think "why didn't I think of that?".
Just one way that people from the other side of the bell curve waste money is on late-model but essentially crap cars. Which they pay too much for, finance at disadvantageous rates, don't maintain well, and take a well-deserved beating on when they trade them in, which they do too often.
Awhile back I had business at a subsidized health clinic, and noted that when I parked my old Scirocco there it was BY FAR the oldest and no doubt cheapest book value car in the lot. Never mind that it probably runs better than most of these hoopties...
It seems to me the people whining for a "living wage" are in the immortal words of Captain Bleigh "contemptuous of effort".
Key phrase about your house, "I bought it 20 years ago." If only we could have all been born 20 years earlier we would all have had it easy like you . I'd be 48 and the smuggest SOB on the block too. I'd also have the luxury of being oblivious to what's going on around me because I had everything basically handed to me in much easier times.
I was going to say something pretty sarcastic but will refrain-- it is not worth it.
I had dinner tonight with my cousin and her husband (who is an active Green Beret), he explained that your arrogance and self-aggrandizing is probably attributed to your youth more than anything else.
I love this game. Well, while I was having dinner with the president of the United States last night, he explained your smugness probably stems from you being a Baby Boomer.
I love this game. Well, while I was having dinner with the president of the United States last night, he explained your smugness probably stems from you being a Baby Boomer.
Sweetie believe what you want-- I am not the one trying to find employment-- and I am not the one that will have to overcome a HUGE... HUGE... attitude problem in order to succeed in the non-military world.
And even though I don't have to explain anything further to your bigoted-self, I will. I am not a baby boomer. I was born in 1977.
But-- you may chose not to believe that-- you have to have some excuse for your vapid ignorance and why Apple or Bank of America or Michelin or even the small business down the street is not just picking you up and making you their CEO or executive management because of your incredible "leadership" experience.
My job is mainly slinging code but I'd certainly never be closed-minded enough to claim the way I know to do things is best and automatically discount anything else. Furthermore if I sniffed out that "my way and no other way" attitude in any interview I'd give the candidate an immediate thumbs down. Those kinda of people are impossible to work with.
I think many of the trappings that keep poor people down, they don't really need a course to figure out. Buying food from the market versus takeout like McDo or Pizza Hut which in the end is more expensive than cooking something decent at home from scratch. Not to mention the health implications of such a dietary choice.
Gambling. The amount of money spent on bingo or other types of lottery. Although I don't liken the megabucks type lotteries to gambling, rather I think of them as 'voluntary taxation'.
Cigarettes. The disadvantages are too long too list.
Booze. Ditto.
Poor people need to educate themselves on money management. My parents knew the value of money more than anybody because they weren't rich and worked hard for every penny. They taught us that, and even though we're not skinflints by any stretch, we spend our money wisely and buy only things we need or will get much use from.
Ont thing I will blame on 'society' though. The entertainment business, including pro sports. Poor people dreamily look at these celebrities and falsely think that's the ticket, not realizing the odds are longer than winning a lottery twice. We need to get back to the real meaning of the American dream: work hard, use your head, be honest, and you will succeed. Not the get-rich-quick fantasies. The role of luck is grossly exaggerated.
Wow....why do people who care about what a blue coller worker makes? Calling someone a monkey is so disrespectfully. Jobs are leaving US for higher profit yields and the ability to compete.
Sweetie believe what you want-- I am not the one trying to find employment-- and I am not the one that will have to overcome a HUGE... HUGE... attitude problem in order to succeed in the non-military world.
And even though I don't have to explain anything further to your bigoted-self, I will. I am not a baby boomer. I was born in 1977.
But-- you may chose not to believe that-- you have to have some excuse for your vapid ignorance and why Apple or Bank of America or Michelin or even the small business down the street is not just picking you up and making you their CEO or executive management because of your incredible "leadership" experience.
First of all, you're only 5 years older than me, so now my snickering is full on boisterous laughing. Tell me more about your women's leadership conference please laughing.
I've also only been unemployed since late September. Current average is 33 weeks to find a job but I'm sure I will be well under that average. I've also been successful at whatever I've done thus far and I doubt I'm going to see an end to that trend.
First of all, you're only 5 years older than me, so now my snickering is full on boisterous laughing. Tell me more about your women's leadership conference please laughing.
I've also only been unemployed since late September. Current average is 33 weeks to find a job but I'm sure I will be well under that average. I've also been successful at whatever I've done thus far and I doubt I'm going to see an end to that trend.
My last post back to you-- because as the french would say-- c'est pas la peine to continue.
5 years older means nothing in the context that you are using it-- what does mean something is the different experiences that happens in those years. I have been working in the corp world- professional environments since I was 18. If you were Mark Zuckerberg or similarly relevant, I would totally raise my white flag to you on the success scale.
But you are right-- good luck to you-- I will still contend with your attitude you are going to have a tough battle rising up the ranks in 90% of the corporate environments out there (that has been through personal experience however anecdotal that may be)-- but who am I kidding at the end of the day you will just lump it to how no one is seeing just how incredibly wonderful you are.
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. I'd be 48 and the smuggest SOB on the block too. I'd also have the luxury of being oblivious to what's going on around me because I had everything basically handed to me in much easier times.
laughing. 
