221–230 of 478 posts
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Are interest rates high enough again to make laddering worth it?
Was offered 1% for 11 month deposit yesterday. Much better than last year's 0.25%, but still, what, 1/8 of US inflation?!
Sounds like a good thing in a world where we over-consume almost everything?
I can't agree with some of the commentary in this thread about risk, drive and early poverty. Some of the wealthiest people started out dirt poor. They didn't like it and resolved to become rich. Plenty more started out spoiled rotten and grew up to be lazy minded with mediocre life outcomes.
"Brewster's Millions" is still a great film on this theme of growing a healthy relationship with money.
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I often link to these articles. Especially the second one is exactly what you are asking about: • 5 Things Nobody Tells You About Being Poor, May 27, 2011: https://www.cracked.com/blog/5-things-nobody-tells-you-about... • The 5 Stupidest Habits You Develop Growing Up Poor, January 19, 2012: https://www.cracked.com/blog/the-5-stupidest-habits-you-deve... • 4 Things Politicians Will Never Understand About Poor People,…
There were many brilliant Cracked articles in their day.
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Jesus where do you live? I moved from San Diego to Raleigh, didn't get a pay adjustment and even that place wouldn't be anywhere near that cost here.
I'm looking at moving to a significantly nicer [edit: than where I am now, that is], coastal region with excellent schools and within occasional-but-not-daily commute distance of two top-tier US cities, including by rail (some of you may be be able to guess the area, at this point), and the housing prices (4-bedroom with some land, even) are surprisingly affordable. Nothing like that, certainly. Houses within daily c…
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I'll never have another credit card. Frequent flyer miles, what are those? The whole industry can go fuck themselves.
If you're able to live without the credit aspects of the credit card, why not take the 1-2% discount on nearly everything consumable that you buy? If you pay it off every month, credit cards have a negative cost (to you) and a fair amount of convenience (for renting cars, hotels, booking flights, etc).
Sometimes you have to identify your weakness and ruthlessly cut them out of your life.
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The generation of the Great Depression didn't have ubiquitous forms of usury. With credit cards, personal loans and student loans, I imagine the future stinginess of Millennials will be short lived.
They still had installment plans for buying appliances and repossessions. I'm pretty sure usurious loans have existed since money was invented.
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If you're able to live without the credit aspects of the credit card, why not take the 1-2% discount on nearly everything consumable that you buy? If you pay it off every month, credit cards have a negative cost (to you) and a fair amount of convenience (for renting cars, hotels, booking flights, etc).
That 1-2% is what they pay you for all your data. Credit cards are a key component of data brokers.
Is it fair to conclude that fossil fuel price shocks are good for the planet? If everyone experiences them early then we will all reduce our carbon footprint for life and slow global warming?
what if i told you a lot of fossil fuels go into producing electric cars, which then drives up the price of them making them out of reach for the avg person
Being poor in general, during your childhood, scars you for life. It makes you penny wise and pound foolish, adverse to taking risks in your career and investments, can destroy your confidence in yourself, while always having to look over your shoulder monetarily speaking. Habits that even after you remove poverty from your live, you still feel the the anxiety and triggers in your head.
My wife grew up very close to the poverty line, with her parents always just about to lose the house. And she has this anxiety. (Edit: to be clear, she's a successful civil engineer, considered one of the best in her field locally and makes great money- she has nothing to worry about.) In order to help with it, we have a bank account that our bills come out of that has a little more than 6 months worth of all our bil…
Sure, the money isn't generating more wealth, but that amount is finite. It's a cushion that should effectively indefinitely and every dollar beyond is vigorously invested. And, should something happen to employment, you use it as a buffer (assuming no severance) and replenish as soon as you're employed again.
I have a friend who helped me get where I am. He makes even more than I do, but financially, I'm more well off than he is because he thinks that every single dollar needs invested -- to the point that despite making the top 2-3% of income for our entire region, he regularly is paying off revolving credit card interest because he isn't equipped to pay a $500 unexpected expense.
Sure, if you invest every single dollar, it's always earning 7-10% on average. But if you have to then pay 20%+ APR on credit cards because you can't handle unexpected expenses, it begs the question whether you're really getting ahead.
Being poor in general, during your childhood, scars you for life. It makes you penny wise and pound foolish, adverse to taking risks in your career and investments, can destroy your confidence in yourself, while always having to look over your shoulder monetarily speaking. Habits that even after you remove poverty from your live, you still feel the the anxiety and triggers in your head.
My wife grew up very close to the poverty line, with her parents always just about to lose the house. And she has this anxiety. (Edit: to be clear, she's a successful civil engineer, considered one of the best in her field locally and makes great money- she has nothing to worry about.) In order to help with it, we have a bank account that our bills come out of that has a little more than 6 months worth of all our bil…