Living paycheck to paycheck - must be hard wired

[Sandybestdog]

Quote from aegis:

You're better off explaining to your kids that their entire generation is fucked and there's really nothing they could do about it. The reason why they can't save money is simply because they don't make enough.

The most frugal person in the world won't survive if he or she can't earn a livable wage. Prices, fees, taxes seem to go up. Yet, wages stay the same. I suppose that we could all go live in the woods and never have to worry about it again.

Now there’s a concept most on ET will never get. I have asked this question so many times here and have not gotten one good answer.

How are people supposed to save and get ahead when their cost of living keeps going up and up, but their incomes remain flat or sometimes even fall?

Inevitably, the only answer I get is that I’m lazy and don’t want to work for anything and want everything handed to me. Of course that’s like telling someone to climb Mt. Everest with no ropes and then telling them they are lazy when they complain that they can’t climb it.

 

[marketsurfer]

Quote from Sandybestdog:



How are people supposed to save and get ahead when their cost of living keeps going up and up, but their incomes remain flat or sometimes even fall?

why aren't you in control of your "cost of living" ?

makes no sense.

surf

 

[itsbearabull]

oh yes , i definitely recommend you give them the book Rich Dad, Poor to read and teach them the value of saving money!

 

[nutmeg]

Speaking of controlling your cost of living. I read a book about the history of China town (nyc). We talk about sharing apartments, these guys sublet there bed. One guy would sleep in the bed at night (worked the day shift) then the next guy who worked the night shift would rent the bed during the day.

Hell of way to live but most people have a problem with the answer or solution to their problem.

Eat tuna or mac and cheese. "But I don't like it". Oh well.

 

[nutmeg]

I did have the book Rich dad poor dad when it first came out, no idea where it is now, maybe I should get another copy.

Saving is good but kids just don't understand "saving" for an opportunity.

 

[Sandybestdog]

Quote from marketsurfer:

why aren't you in control of your "cost of living" ?

makes no sense.

surf

How am I supposed to stop my health insurance from going up 15% a year? Go without it?

Where were you over the past 30 years when housing prices have advanced well past the rate of wages?

People who have perfect credit history are having their credit cards jacked up to 25%.

Education costs are rising at more than 7% per year. I can bet you most Americans didn’t get a 7% raise this year.

The only thing that doesn’t make sense in this discussion is you.

 

[Sandybestdog]

Quote from nutmeg:
Eat tuna or mac and cheese. "But I don't like it". Oh well.

Yes work hard and eat Top Ramen so the Man can have caviar.

 

[nutmeg]

Quote from Sandybestdog:

Yes work hard and eat Top Ramen so the Man can have caviar.

I never really cared what the "man" has, does, eats, drives, yada yada.

 

[fkbsuhites]

well at least you're man enough to realize your poor parenting skills.

How many parents take their kids to volunteer at a food bank or some such place? very few, and these parents are usually the highly educated ones.

Most parents shell out thousands to send kids to exclusive summer camps and will spring for a new bimmer as soon as "little joey" is 18. Parents transferring their low self esteem issues compensated by shiny material goods.

kids these days have a high self-entitlement complex because of the new-age child raising garbage that is taught to new parents. Girls in particular growing up with daddy's little princess complex. Expect a very high divorce rate for the new generation.

Quote from nutmeg:

I have 3 kids with jobs. They get paid on Friday - broke by Monday.

Over different periods of time I have let them do what they want with their money or forced them to bank half of the paycheck. The results are the same - broke before the next check.

Whoever has money left in several days ends up being the banker to the other two till all three are broke and they all hit me up for a loan.

They run out of money and have their phones shut off, then suffer withdrawal like a bunch of crack heads.

I point out the money they made YTD and ask where it is and they look at me like I have 2 heads. "Why are you asking me that?"

 

[dalodoma]

Quote from Sandybestdog:

How am I supposed to stop my health insurance from going up 15% a year? Go without it?

Where were you over the past 30 years when housing prices have advanced well past the rate of wages?

People who have perfect credit history are having their credit cards jacked up to 25%.

Education costs are rising at more than 7% per year. I can bet you most Americans didn’t get a 7% raise this year.

The only thing that doesn’t make sense in this discussion is you.

This country is fucked because of this this kind of mentality...

With health care issue aside they don't need other things you mentioned..

Why the hell do they need to buy a house? They are broke so why not rent,, better yet share apartments to lower the cost of living?

I thought his kids already have jobs,, they don't need to go back to school unless the fields they're in (i.e. Medical/Law) require advance degree,, or until they build up enough savings..

AND THEY DON'T NEED TO HAVE CREDIT CARDS.. IN FACT NO ONE NEEDS CREDIT CARDS