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Forum » How do people have financial difficulties?
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Thread: How do people have financial difficulties?

post 1618378271 10-04-2020, 06:38 AM
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#31
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People see the top 10% and the image/lifestyle gets ingrained in their head. They become enamored, and don't realize there's a big difference between the two. The expenses are relatively the same, but the income is way off.

The reality is that 90% of people shouldn't have an SUV or truck. They should be driving a used Toyota Camry. But marketers have hammered SUVs into society, and everyone thinks it's a normal thing to get.
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post 1618378751 10-04-2020, 06:49 AM
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#32
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I have read so many financial books recently, and the common theme is simple. It's not how much you make, but how much you save. There are many cases of teachers making $40,000/year that end up as millionaires while CEOs have no savings. Live within your means, son. It's also about delayed gratification, which is something that people can't abide by.
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post 1618378801 10-04-2020, 06:50 AM
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#33
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too much spending, too little saving
"If not me, then who? If not now, then when?"

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post 1618378881 10-04-2020, 06:50 AM
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#34
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no one teaches anyone about the benefits and compounding effects of long term investments

prime example being setting up a DRIP or bonds

the idea of putting money away and having that money make money isnt near as exciting as going to the bar and dropping $100+ every week or buying a new computer or clothes
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post 1618379241 10-04-2020, 07:00 AM
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#35
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they live beyond their means and chase status symbols to impress others rather than build wealth.
post 1618380131 10-04-2020, 07:16 AM
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#36
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I think people just don't gaf. They want what they want and they want it now. Commercial's and materialistic lifestyle convince them that they must have the new shiny and they must buy it now. They deserve it.

Managing money so that you don't have to live paycheck to paycheck is easy. But requires sacrifice and determination. Our society is too soft and weak to do it. Probably also why our people are so fat and lazy.
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post 1618381961 10-04-2020, 07:47 AM
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#37
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Originally Posted By r32gojirra⏩
I wouldn’t know the aggregate value of my mortgages from one month to the next

I’d probably know them individually to the nearest 100k but in aggregate fk knows
I called him out for frauding a few years ago, literally changed his mortgage amount by a factor of 10 in a week. Couldn’t keep his lies straight
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post 1618384271 10-04-2020, 08:33 AM
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#38
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Originally Posted By dmike100⏩
I think people just don't gaf. They want what they want and they want it now. Commercial's and materialistic lifestyle convince them that they must have the new shiny and they must buy it now. They deserve it.

Managing money so that you don't have to live paycheck to paycheck is easy. But requires sacrifice and determination. Our society is too soft and weak to do it. Probably also why our people are so fat and lazy.
Never understood why some people must have the latest phone. I’l still using an Iphone 7. It’s 3 yrs old but still works great. Other easy ways to save money are to cut back on the monthly expenses. Wife and my cell phone bills are $40 combined. We don’t drink alcohol or Starbucks coffee. It all adds up to thousands saved a year.
post 1618386951 10-04-2020, 09:25 AM
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#39
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Poor choices, I see a lot of people who make mediocre money always having the newest iPhone and driving cars that are way beyond their means just to have a chit tier apartment and no savings.
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post 1618388001 10-04-2020, 09:42 AM
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#40
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Usually their own doing, I know it was mine. People dont plan ahead and go for the instant gratification.
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post 1618388531 10-04-2020, 09:51 AM
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#41
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I saw it on my original path

Making 7.25 an hour, 250 a week. 50 for gas, 50 for groceries. Youre down to 150, not going into anything else. Theres no way to "save" at this rate. Even if youre working 40 hours a week

About a year in i got to 8.25

The next step up in that climb was 10 an hour, so not much better. I was asked for this position when i left, it was managing the cashiers up front. But id put a few years on here before another promotion

My guess is they get in a hole early on, and its hard to get out

For instance, people like that then take out a college loan or something theyre paying off forever
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