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With your job and all of your impressive skills and all of your money, you must not have many friends or you wouldn't spend all of your time on an internet forum.
I have plenty of friends. I'm at work right now, but don't have a lot to do. I'm here holding down the fort because we've got a couple of people out sick or away on business. Normally on a day like today I wouldn't even bother to go in. I'm salaried which means I work when I need to (sometimes 12+ hours a day) and don't get paid overtime when I need to travel for business meetings.
Besides, why do you keep talking to me and reading what I have to say? I thought that you didn't like me and didn't want me to respond to you?
She could use the computers at the library, and many DOL's have them for use for educational and job search purposes in the u/e offices.
My local library has a 30 minute maximim for time spent on the computer. Believe me, I know, cause it was a b*itch to try and apply for financial aid years ago before I bought a computer. As a former online student, that is inadequate for taking a course. Especially when there are long lines for the computer lab, which there ALWAYS are when I go.
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The point is that she'd have savings to get through a really desperate time.
The point is this is another opportunity for savings for he future to be depleted, which can easily happen to anybody.
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Again there are FREE classes to learn to be tech savvy. There are places with FREE TO USE computers and there are online tutorials to learn software. Oh, she didn't know? Well did she freaking bother to ask? Uh, yeah, my point exactly.
Same answer as above and before. Perhaps she didn't know to ask. Who was suppose to education her on her options?
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They are morons if they didn't bother to open their eyes and bother to better themselves.
So basically, everyone who didn't do things as you did and had the exact same outcome as you is a moron?
She finds a way to lower her living costs, either by getting a roommate or moving to a cheaper place. She uses programs like Angel Food Ministries to cut her food budget. She takes her classes online on her schedule.
A single person making minimum wage is bringing home at least $800 a month. Renting a room at $75 a week plus $100/mo in utlities leaves $400. With careful shopping groceries come to $120 a month. Other misc. expenses like gas and oil changes come to $200 a month or less. Take $30 a month for pocket money, and there is $50 a month left for savings.
Your lack of financial planning is astounding. Where is the monthly cost for health insurance? Even if the employer provides health insurance, it usually costs the employee something. Okay, you say take out a high deductible plan on your own. Where is the money coming from to cover the cost up to the deductible?
Where is the monthly cost for car insurance? If this is a young worker, even with just liability insurance it could easily be $75-$100 per month for an old car. Where is the monthly cost for a telephone? Yes, not only the service plan, but the actual telephone. Where is the monthly cost for car replacement? A car doesn't last forever sweetie. A person should be saving bare minimum $50/month for car replacement and another $50/month in car repairs. Obviously, on a low income, one can only afford to be driving a junker. Where is the monthly cost for moving expenses? Do you expect to be renting a room in the same home for years on end? That is optimistic thinking at its best. Bare minimum, moving alone could set back a person with very minimal possessions a few hundred bucks. How about clothes, shoes... maybe even a haircut? There has to be a monthly budget of at least $20 for this. What about dental care? How is this worker going to pay for that $500 cavity? How about even for a basic cleaning? Again, you need to budget a monthly amount for this. What about the cost of a personal computer? Sure, you can use the library, but you will have to pay to print out anything that you need. What about furniture? Go to a second hand store you say or search online. But, how will this furniture be transported? You expect this low wage employee to be able to rent a truck on their income? What if this employee is transferred to another location?
What about the cost of filing income taxes? How about smog checks and registration fees? Prescription eye care?
What about the cost of attending school online? You know, I am no genius, but those school loans become due when you graduate. What if this person is unable to secure employment in the new field? What then? How about visits with family and/or friends? Remember now... this person could have relocated X,XXX miles to secure the minimum wage job. Does this person never see their family? How about the cost of ink cartridges or a printer? What about glasses, dishes and silverware? Do you expect these to appear magically with no cost?
$50 per month is a whopping $600 per year. Oops, the owner of the home you are renting from is selling/moving. There goes your savings. You have a cavity... there goes your savings. You need new glasses and an eye exam... there goes half of your savings. You break a bone... there goes SEVERAL YEARS of savings. Now, nobody will rent to you because you have bad credit because you couldn't afford your medical bills. Your car dies on you. How do you pay to get it towed? How do you afford a new vehicle? There goes your savings.
My local library has a 30 minute maximim for time spent on the computer. Believe me, I know, cause it was a b*itch to try and apply for financial aid years ago before I bought a computer. As a former online student, that is inadequate for taking a course. Especially when there are long lines for the computer lab, which there ALWAYS are when I go.
Like I said, there are other options. Heck, ask around and I can almost guarantee that you'll find someone giving away a FREE computer that works fine, it's just a little slower than the model the replaced it with and has an older style monitor rather than a flat screen. Juno and NetZero offer Internet access for $6 a month.
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The point is this is another opportunity for savings for he future to be depleted, which can easily happen to anybody.
My point is that far too many have no savings to begin with--and that same group often has plenty of crap that they've spent their money on instead. (Or it's gone up in cigarette smoke.)
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Same answer as above and before. Perhaps she didn't know to ask. Who was suppose to education her on her options?
Let's see, who do YOU ask when you've got a question? Neighbor, doctor, boss, friend, pastor, the local United Way. There are plenty of places to ask for help if you want to better yourself.
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So basically, everyone who didn't do things as you did and had the exact same outcome as you is a moron?
Well, that is basically all of us.
No, that's not what I'm saying. What I'm saying is that people that don't take any steps to better themselves or prepare for their future are morons.
My opinion is that if you can't afford to take care of your kids--including having savings and life insurance to fall back on during tough times, you shouldn't have them.
Rule of thumb: $7/hour per kid....That is, a guy making $21 an hour wouldn't be advised to have more than three kids.
Of course, we don't want to get the catholic church's opinion on this:
"Father, I only make $8/hour washing dishes and I have four kids, what should I do?"
"Fear not my son, be fruitful and continue to multiply; have another child."
Like I said, there are other options. Heck, ask around and I can almost guarantee that you'll find someone giving away a FREE computer that works fine, it's just a little slower than the model the replaced it with and has an older style monitor rather than a flat screen. Juno and NetZero offer Internet access for $6 a month.
That's all well and great but where were you, some 20 years ago to tell that 60 year old that? Would be great to go back in time and let her know. Also make sure she's computer literate.
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My point is that far too many have no savings to begin with--and that same group often has plenty of crap that they've spent their money on instead. (Or it's gone up in cigarette smoke.)
Or it was spent on the many expenses that just come with life, like nikorock mentioned. Ever had a transmission go up on you? I would have loved to not have spent $1800 on that "crap" at 19 years old.
[quote]Let's see, who do YOU ask when you've got a question? Neighbor, doctor, boss, friend, pastor, the local United Way.[quote]
I know where to seek out information when I feel the need. I can't say for certain that this women or anyone does and can like I can. But I know I can't ask for information about something I know nothing about. For instance, I just learned about Roth IRAs maybe a year ago. I couldn't have sought out the info 3 years ago for something I never heard of.
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No, that's not what I'm saying. What I'm saying is that people that don't take any steps to better themselves or prepare for their future are morons.
And all I'm saying is despite best efforts, things can still go very wrong. In the world as I know it, anyway. And I wouldn't consider anyone in that position a moron. But again, just me.
Location: The Chatterdome in La La Land, CaliFUNia
39,031 posts, read 23,018,776 times
Reputation: 36027
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Originally Posted by annerk
I don't know how anyone who can fog a mirror can not know about saving for retirement. I was only 13 when IRA's were introduced, and I remember watching something about them on 60 minutes. It's not like you'd need a degree in finance to figure it out. Had she invested a measly $10 a week in a regular savings account since she began working, she'd have more than enough to tide her over until she can collect social security. Don't tell me that no one ever told her to save some money each week for a rainy day. That's common sense that no one should need to tell you.
I came from a family of spenders and never knew about IRAs and other forms of savings until recently (I'm in my late 30's). Right now, I'm only making barely enough to get by but I'm determined to gain a full-time job this year and I definitely plan to begin investing in an IRA. I wish that I could start now but I need to keep my savings liquidated for the time being in case I find myself in a spell of unemployment (I'm only part-time right now).
Where is the monthly cost for health insurance? Even if the employer provides health insurance, it usually costs the employee something. Okay, you say take out a high deductible plan on your own. Where is the money coming from to cover the cost up to the deductible?
Most places I've worked--both large and small companies--in the last 15 years have offered health insurance for an average of $15 a week. I added that in--a minimum wage employee will gross $1256. That puts them into a very low tax bracket, so even if health insurance deductions are $30 a week, they are still probably making over $800 a month take home.
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Where is the monthly cost for car insurance? If this is a young worker, even with just liability insurance it could easily be $75-$100 per month for an old car.
Or they could take the bus or ride a bike--there's a novel idea.
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Where is the monthly cost for a telephone? Yes, not only the service plan, but the actual telephone.
Low cost cell phone is $10 a month. You can get a free phone by asking around for someone to give you and old one. I've got a drawer full of them--I've donated some to cahrity and given others to peolpe who needed a phone to activate.
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Where is the monthly cost for car replacement? A car doesn't last forever sweetie. A person should be saving bare minimum $50/month for car replacement and another $50/month in car repairs. Obviously, on a low income, one can only afford to be driving a junker.
LIke I said, take the bus.
Where is the monthly cost for moving expenses? Do you expect to be renting a room in the same home for years on end? That is optimistic thinking at its best. Bare minimum, moving alone could set back a person with very minimal possessions a few hundred bucks.[/quote]
Get a few friends to help--if you are working minimum age how much do you ahve to begin with. I can remember moving a couple of time where everythign I owned fit into a couple of cars.
[/quote]How about clothes, shoes... maybe even a haircut? There has to be a monthly budget of at least $20 for this.[/quote]
Clothes and shoes from Goodwill, hair cut done by a friend or local beauty school for the cost of a $3 tip.
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What about dental care? How is this worker going to pay for that $500 cavity? How about even for a basic cleaning? Again, you need to budget a monthly amount for this.
Under $15 at the sliding scale clinic.
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What about the cost of a personal computer? Sure, you can use the library, but you will have to pay to print out anything that you need.
Like I said earlier, people are giving them away. Ask around.
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What about furniture? Go to a second hand store you say or search online. But, how will this furniture be transported? You expect this low wage employee to be able to rent a truck on their income? What if this employee is transferred to another location?
If they are renting a room, how much furniture do they need?
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What about the cost of filing income taxes?
Free through several online service for low income people. Or the old fashioned way--fill out the form and mail it in. Or over the phone (800 number so a payphone will work) for a 1040EZ.
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How about smog checks and registration fees?
Not applicable if they use mass transit or ride a bike.
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Prescription eye care?
There are tons of places that do a vision test and two pair of glasses for $100. You might not like the frames, but beggars can't be choosers.
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What about the cost of attending school online? You know, I am no genius, but those school loans become due when you graduate. What if this person is unable to secure employment in the new field? What then?
Federal student loans are deferable when the person is un or under employed.
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How about visits with family and/or friends? Remember now... this person could have relocated X,XXX miles to secure the minimum wage job.
Does this person never see their family?
Let them come to you. Some people don't even want to see their family.
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How about the cost of ink cartridges or a printer?
I haven't replaced the print cartridges in my printer for over two years, and it was given to me for free by someone who got it free when they bought a new computer and didn't want it.
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What about glasses, dishes and silverware? Do you expect these to appear magically with no cost?
Freecycle.
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$50 per month is a whopping $600 per year. Oops, the owner of the home you are renting from is selling/moving. There goes your savings. You have a cavity... there goes your savings. You need new glasses and an eye exam... there goes half of your savings. You break a bone... there goes SEVERAL YEARS of savings. Now, nobody will rent to you because you have bad credit because you couldn't afford your medical bills. Your car dies on you. How do you pay to get it towed? How do you afford a new vehicle? There goes your savings.
Are you getting the point Miss Annerk??
Go back and read what I said. You make a lot of assumptions. I have lived poor--very poor. It taught me a lot about stretching my dollars, saving my pennies, finding cheap or free solutions. I used to take the bus because I couldn't afford to won a car. I lived in a rural area and the bus wasn't convenient for me as far as time or location. I walked 1 1/2 miles to and from thebus stop at home, and a mile to and from my place of work. I also got there 45 minutes early and had to wait in the cold for almost an hour each night after work to take the bus home. I shopped at thrift stores or wore hand-me-downs from friends, ate a lot of beans and rice, and my big treat to myself was a 25 cent cup of coffee at the news stand near my job once a week. Oh, and yeah, I broke a bone, and guess what, it took me three years to pay off the doctors bill, but I did it.
I constantly looked for ways to improve my situation, never asked for a dime of public support, and worked my tail off to create a better life for myself. I refused to settle for a life of poverty.
Rule of thumb: $7/hour per kid....That is, a guy making $21 an hour wouldn't be advised to have more than three kids.
Of course, we don't want to get the catholic church's opinion on this:
"Father, I only make $8/hour washing dishes and I have four kids, what should I do?"
"Fear not my son, be fruitful and continue to multiply; have another child."
Unfortunately the Church wants people to spawn but isn't exactly offering to support them all.
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