IF you take that advice literally you’ll never be able to buy a house because you head the words but you didn’t understand the message
The message is to not waste money of frugal things you don’t actually NEED. Every dollar counts a pennies a day can add up to a lot over some years.
It’s to tell you to track your spending and see how much you waste on things you don’t need and to analyze how you can save more
Also, don’t just save it, invest it somehow if you can. This what banks are for. Go there, talk to a financial expert.
Houses are stupid expensive, that’s true… but it’s also true that you probably waste money. If you waste money, even if house prices drop, you still won’t be able to afford one
that’s only viable for people who make 50+k a year and spend like irresponsible assholes in a reasonable cost of living area.
if you’re closer to the poverty line, frugality ain’t gonna save you unless you live with your parents.
regardless, this rhetoric is just victim blaming. people should be able to enjoy a meal out a few times a week and some beer AND own a house even if they work as a janitor.
I should also be able to walk through the worst parts of Compton as an out-of-town white man by myself with a 10k necklace on and not be worried I’ll get robbed and shot
But also I need to take responsibility for my own actions and not make bad choices
Is it victim blaming to call me stupid when I get robbed? Probably
Was it stupid of me to walk through the worst parts of Compton by myself as an out-of-town white man with a 10k necklace on? Also yes
You can wish in one hand for a perfect world where you can work an easy job taking orders at McDonalds and make enough money to buy a 5 bedroom house in a good neighborhood with a decent yard and have enough left over to raise 3 kids and take a vacation ever year while treating yourself to daily high-quality coffee and fancy snacks…
or
You can climb down from the fantasy world in the sky and join the rest of us here in reality and realize that if you want to move out of your moms house you’re going to need money and the only way to have lots of money is to figure out how to save as much money as you can
it doesn’t matter if you like it; that’s how it is
Is that what banks are for? Savings account interest rates at historic lows of .4%, which doesn’t even outpace inflation. We’re essentially paying them to spend our money.
You could get a HYSA for 3%. Income is taxed, interest rates are variable. Not really many good options.
my HYSA rate is 3.5% and rolling CDs bring it up closer to 4%. Oh no you have to pay taxes on it! wow, you pay taxes on pretty much every investment that isn’t a Roth IRA…
lots of other places to invest, like boring blue chip stocks that don’t have huge swings in value that you hold onto for years and they provide a return that is more or less within a 1% of the general market average.
the issue is everyone is a fucking asshole and want massive returns here and now and thinks they should pay zero tax on it, but that guy over there, he should pay taxes on his investments and returns, but not me! I’m special!
it’s hilarious i have friends who have like $500 invested and family with like 50,000,000 million, and they both say the same stupid entitled shit that you say here, because everyone seems to think they are entitled to like 10% tax free yoy growth on their investments… and THE LINE CAN’T EVER GO DOWN.
and we wonder why the country in is economically fucked… well because we actively choose to fuck ourselves over collectively year after with out absurd expectations and fast money bullshit instead of doing the boring hard unglamorous work that actually builds non-bubble wealth…
the smartest thing anyone can do is invest blindly. i check my 401K returns once a fucking year and no more and I don’t bother trying to manage it to try and min/max and ‘beat the market’ on it because it’s utterly stupid, and on average over 20 years of investment I have like quadrupled the saved income. and when I tell people that, the first thing they almost always tell me is I need to take out a loan against it and buy something stupid with it, like a way bigger house I don’t need. they also tell me I need to clean out my other investments and go on a trip to Africa, because YOLO.
Same people who whine to me how ‘poor’ they are and how they can’t ‘get ahead’… gee i wonder why…
oh they also are very upset they have to pay back their 60-150K in student loans they still owe on in their 30s/40s. they thought that money was supposed to be free!
That’s all sound advice (except talking to banks) but given the current nature of our economy it’s kind of moot for the majority of people.
Speaking of which, thanks for reminding me I have to move my state-obligated investment fund around to avoid the next “once-in-a-lifetime” financial crisis.
No way man. Having to budget and save is propaganda billionaires are using to oppress us.
or something. I gotta buy that latest gaming PC parts so I can up my FPS and comment harder on the internet about how horrible things are so I can fight back against the billionaires.
IF you take that advice literally you’ll never be able to buy a house because you head the words but you didn’t understand the message
The message is to not waste money of frugal things you don’t actually NEED. Every dollar counts a pennies a day can add up to a lot over some years.
It’s to tell you to track your spending and see how much you waste on things you don’t need and to analyze how you can save more
Also, don’t just save it, invest it somehow if you can. This what banks are for. Go there, talk to a financial expert.
Houses are stupid expensive, that’s true… but it’s also true that you probably waste money. If you waste money, even if house prices drop, you still won’t be able to afford one
that’s only viable for people who make 50+k a year and spend like irresponsible assholes in a reasonable cost of living area.
if you’re closer to the poverty line, frugality ain’t gonna save you unless you live with your parents.
regardless, this rhetoric is just victim blaming. people should be able to enjoy a meal out a few times a week and some beer AND own a house even if they work as a janitor.
like, give me a fucking break.
I should also be able to walk through the worst parts of Compton as an out-of-town white man by myself with a 10k necklace on and not be worried I’ll get robbed and shot
But also I need to take responsibility for my own actions and not make bad choices
Is it victim blaming to call me stupid when I get robbed? Probably
Was it stupid of me to walk through the worst parts of Compton by myself as an out-of-town white man with a 10k necklace on? Also yes
You can wish in one hand for a perfect world where you can work an easy job taking orders at McDonalds and make enough money to buy a 5 bedroom house in a good neighborhood with a decent yard and have enough left over to raise 3 kids and take a vacation ever year while treating yourself to daily high-quality coffee and fancy snacks…
or
You can climb down from the fantasy world in the sky and join the rest of us here in reality and realize that if you want to move out of your moms house you’re going to need money and the only way to have lots of money is to figure out how to save as much money as you can
it doesn’t matter if you like it; that’s how it is
Is that what banks are for? Savings account interest rates at historic lows of .4%, which doesn’t even outpace inflation. We’re essentially paying them to spend our money.
You could get a HYSA for 3%. Income is taxed, interest rates are variable. Not really many good options.
this is some bullshit.
my HYSA rate is 3.5% and rolling CDs bring it up closer to 4%. Oh no you have to pay taxes on it! wow, you pay taxes on pretty much every investment that isn’t a Roth IRA…
lots of other places to invest, like boring blue chip stocks that don’t have huge swings in value that you hold onto for years and they provide a return that is more or less within a 1% of the general market average.
the issue is everyone is a fucking asshole and want massive returns here and now and thinks they should pay zero tax on it, but that guy over there, he should pay taxes on his investments and returns, but not me! I’m special!
it’s hilarious i have friends who have like $500 invested and family with like 50,000,000 million, and they both say the same stupid entitled shit that you say here, because everyone seems to think they are entitled to like 10% tax free yoy growth on their investments… and THE LINE CAN’T EVER GO DOWN.
and we wonder why the country in is economically fucked… well because we actively choose to fuck ourselves over collectively year after with out absurd expectations and fast money bullshit instead of doing the boring hard unglamorous work that actually builds non-bubble wealth…
the smartest thing anyone can do is invest blindly. i check my 401K returns once a fucking year and no more and I don’t bother trying to manage it to try and min/max and ‘beat the market’ on it because it’s utterly stupid, and on average over 20 years of investment I have like quadrupled the saved income. and when I tell people that, the first thing they almost always tell me is I need to take out a loan against it and buy something stupid with it, like a way bigger house I don’t need. they also tell me I need to clean out my other investments and go on a trip to Africa, because YOLO.
Same people who whine to me how ‘poor’ they are and how they can’t ‘get ahead’… gee i wonder why…
oh they also are very upset they have to pay back their 60-150K in student loans they still owe on in their 30s/40s. they thought that money was supposed to be free!
That’s all sound advice (except talking to banks) but given the current nature of our economy it’s kind of moot for the majority of people.
Speaking of which, thanks for reminding me I have to move my state-obligated investment fund around to avoid the next “once-in-a-lifetime” financial crisis.
No way man. Having to budget and save is propaganda billionaires are using to oppress us.
or something. I gotta buy that latest gaming PC parts so I can up my FPS and comment harder on the internet about how horrible things are so I can fight back against the billionaires.