Being frugal is for the rich

Post by azernik » Mon, Mar 26, 2018, 8:23 PM UTC

aschearer wrote: post #15

anigbrowl wrote: post #6

Earlier quoted context omitted.

You're missing the point. The 'frugal culture' is selling the idea that this is the road to economic self-sufficiency while omitting or glossing over other significant information, like having a very healthy income stream to begin with. If you're poor, being frugal is very unlikely to lift you out of poverty. That doesn't mean frugality is bad, but that marketing is as the key to financial stability is deceptive.

Sure, but are people like the ones in this article or MMM seriously advocating that their philosophy will solve poverty? It's always struck me as middle or even upper middle class people revolting against over consumption and debt. Insofar as that's the case it seems like a positive development. And I don't see why we can't do two things at once, address inequality and poverty and reform out-of-control consumerism.

Post by azernik » Mon, Mar 26, 2018, 8:26 PM UTC

gowld wrote: post #26

tjpaudio wrote: post #19

Earlier quoted context omitted.

City-based salary adjustments are really something only educated professionals get, low-wage earners are screwed in big cities. I think also it will shock you how much every day items are compared to Europe. For one, public transportation is not available to most of America. So you have to have a car and car insurance, thats hundreds of dollars more per month right there. Cellphone service costs 3x as much as anywher…

> City-based salary adjustments are really something only educated professionals get, That's not entirely true. In many cities, minimum wage is substantially higher ($12-$15/hr) than the Federal minimum ($7.25/hr) > in big cities > So you have to have a car and car insurance Not in big cities.

Post by legulere » Mon, Mar 26, 2018, 8:26 PM UTC

vorpalhex wrote: post #32

qntty wrote: post #7

Earlier quoted context omitted.

I guess this is the real motive behind the article: But here’s the thing. Regardless of intent, these Millennials are telling an older generation of elite Americans — the very people whose policies and financial decisions kneecapped the economy — what they want to hear: that everything is more or less okay, and young people just need to be more thoughtful about their money. And that’s a shitty idea to perpetuate. Bec…

> continuing to build a world where they are more and more necessary My grandmother can still, to this day, recount living in an apartment with no furniture except a mattress, with my grandfather who was employed as an engineer in New York. It took, by her estimate, about two years to have enough furniture before she was willing to invite over any sorts of company. Today you can furnish an apartment reasonably with a…

Post by conradev » Mon, Mar 26, 2018, 8:28 PM UTC

aschearer wrote: post #15

anigbrowl wrote: post #6

Earlier quoted context omitted.

You're missing the point. The 'frugal culture' is selling the idea that this is the road to economic self-sufficiency while omitting or glossing over other significant information, like having a very healthy income stream to begin with. If you're poor, being frugal is very unlikely to lift you out of poverty. That doesn't mean frugality is bad, but that marketing is as the key to financial stability is deceptive.

Sure, but are people like the ones in this article or MMM seriously advocating that their philosophy will solve poverty? It's always struck me as middle or even upper middle class people revolting against over consumption and debt. Insofar as that's the case it seems like a positive development. And I don't see why we can't do two things at once, address inequality and poverty and reform out-of-control consumerism.

Post by conradev » Mon, Mar 26, 2018, 8:30 PM UTC

gowld wrote: post #23

anigbrowl wrote: post #6

Earlier quoted context omitted.

You're missing the point. The 'frugal culture' is selling the idea that this is the road to economic self-sufficiency while omitting or glossing over other significant information, like having a very healthy income stream to begin with. If you're poor, being frugal is very unlikely to lift you out of poverty. That doesn't mean frugality is bad, but that marketing is as the key to financial stability is deceptive.

If you're near poor, being frugal will prevent you from falling into poverty. There are many people who have good jobs, earning $50k-$100k per year, saving nothing (or negative!), and then losing those jobs, and then collapsing into the downward spiral of poverty and homelessness.