And people are so clueless about inflation or the Fed. Add to that the braindead media pumping out articles about how high inflation is a good thing or the economy is actually great but we are too stupid to see it.
I know a few people just like that younger than me. They will never be able to afford a house, they are so poor, will have roommates forever, blah, blah, blah. Yet they always have expensive coffee drinks, food delivery, every streaming service, etc.
Cooking is something I really started putting effort in to about six months ago. It became fun, and I don't devote a lot of time because I generally prep all my meals on Sunday and store the raw prepped ingredients to be actually cooked on demand. I cook about 80% of my meals and I eat like royalty. Bacon, eggs, toast, and coffee almost every morning. Hot fresh meals every meal, less the occasional sandwich to work. Fine ingredients for everything and I've really been pushing myself to learn more. Once I got into a groove, most of the work is a couple hours every Sunday and 15mins per meal. Not only has my health gone way up (I feel a ton different), but even buying ingredients with zero concern for buying low-cost I still spend less on food. Even something like coffee, I can randomly splurge on a $25 bag of coffee just because I want to, because I still spend less than a couple bucks a cup, good luck doing that at a coffee shop.
As for holidays, I cut my budget on that and started saving the difference. I still do something "nice" every couple years, but the rest of the time I've had nearly as much fun with cheap non-pretentious short trips to do things with friends and family.
It's easy to say "if only you didn't buy that latte" but you're passing over the fact that housing and food costs in general are rising at an insanely high rate. You can only make so many cuts and soon nobody will be able to catch up
You are right and I have debt I’m paying off due to stupid decisions when I was younger. Have a good job but also do surveys on the side to make a little extra and I house sit in the summer so that is some extra cash as well. But I’ve learned the hard way how quickly eating out can add up. Thankfully I do a hybrid at work so I only have to be in the office twice a week so that saves on gas. You are right, there are things that can be done
I'm not going to pull a Hasan Piker or anything like that when it comes to social commentary
Yeah, cause he claims he lives on a basic necessity budget. That guy is the epitome of a grifter and hypocrite. Not to mention he's literally dumb as fuck.
Let me tell you, if I told people what I have available to me in liquid assets, they'd call me rich. I may have had some money invested in my old bank accounts that was from my parents helping me learn saving money, but st this point, I'd say all my money is my own. Most of my early gains come from trusting my father to invest my money in the stock market. He got in early on things that went up in value 1000% over the course of two decades.
I am debt-free, own my house and car, don't live by the paycheck... and my income is probably what people would still call poverty-level these days ($35k before taxes)
I blame debt for a lot of people in my age group that have trouble. When I looked around at my peers in my 20s and a bit of my 30s it's what I always saw. Tons of student loans. Needing a new fancy "cool" car at 18-20. Traveling all over on credit. They never could wait for anything. Meanwhile, I paid for college by working full time and for the most part giving the school checks every semester. It took me six years to get a "4-year" degree, but I walked away not owing a penny. I bought a car for $3,000 cash I'd saved two months after I graduated high school. It was in really nice shape, but wasn't trendy and modern. It was also damn comfortable and got me where I needed to be every time. I drove that until I was 25. I didn't really travel much until I was nearly 30, and even then it's not a huge amount I spend.
The thing is, everyone looks at me now like I'm rich, but most of the people around me who think that have more income than me or at the very least think I make a lot more than I do. Yeah, I have nice stuff, and yeah, I don't stress about money at all, because I don't have to. I only have mortgage debt, I could get rid of that if I wanted without too much pain. Car titles are on hand and clear and will be even though I'm looking at buying something else soon. I paid my dues the hard and patient way, when they were instead paying the bankers.
Nothing but the mortgage for debt is great. I really rushed my mortgage plan as fast as I could, because the interest accounts for so goddamn much of the repayment. Made it a 30-year plan just to be sure my own monthly budget could handle it, then made large lump-sum deposits whenever I had a good amount available.
Yeah, I could work on getting rid of the mortgage, but it's so small and so low interest I just don't bother.
I remember with cars though, when I first got a car loan at 25. I started looking at the interest and wondering why the hell I wanted to give that to the bank. So I paid it off pretty quick. My plan since I was young-20s was always to improve and never go backwards. It started really simple. One example, I realized that insurance could be had cheaper if I paid for the policy in a full lump sum. That next policy term, I paid the policy and then saved the money to pay in full for the next one. Now I'm done, I save for the future one every term and pay it in full. That's let's say $50 a year I've kept in my pocket. I did the same thing with cars. After I paid that loan off, I saved a reduced amount from the payment for 5 years while I used the car I had. Then the next car I just bought and now the banker doesn't get his cut.
Awesome! My parents talked to me about saving and investing but I didn’t listen until my late 30s. So better late than never. My goal is to be debt free within 3 years. Congrats
Oh, Inflation can be a very good thing... if, say, you're borrowing a shit-ton of money on a fixed-rate lone, or are paying off on a fixed-rate mortgage.
Not something most people are casually going to be doing.
I've found over the years that financial stuff isn't very intuitive, even to very smart people.
Fun little aside, apparently it's a bit of a stereotype that doctors are very bad with money. Clearly, I need to work on getting a Dr Sugar Momma to make sure she doesn't spend herself into the poor-house. (I would never do this. This is horrible advise.)
I think there is some historical evidence people will start to care about the Fed when inflation gets high enough. I believe some drastic actions were taken in the 70s to preserve the system... It didn't lead exactly to scrutiny on the Fed -- I guess they dodged it -- but there was enough discontent to motivate the government to do something. Which is interesting because the Fed is not a part of the government.
Which is interesting because the Fed is not a part of the government.
The Federal Reserve was created by the Federal Reserve Act in 1913, all branch banks have .gov websites, and the Board of Governors are appointed by the President and confirmed by the Senate.
But sure, the Federal Reserve is totally a private bank and not part of the government.
And people are so clueless about inflation or the Fed. Add to that the braindead media pumping out articles about how high inflation is a good thing or the economy is actually great but we are too stupid to see it.
I know a few people just like that younger than me. They will never be able to afford a house, they are so poor, will have roommates forever, blah, blah, blah. Yet they always have expensive coffee drinks, food delivery, every streaming service, etc.
Cooking is something I really started putting effort in to about six months ago. It became fun, and I don't devote a lot of time because I generally prep all my meals on Sunday and store the raw prepped ingredients to be actually cooked on demand. I cook about 80% of my meals and I eat like royalty. Bacon, eggs, toast, and coffee almost every morning. Hot fresh meals every meal, less the occasional sandwich to work. Fine ingredients for everything and I've really been pushing myself to learn more. Once I got into a groove, most of the work is a couple hours every Sunday and 15mins per meal. Not only has my health gone way up (I feel a ton different), but even buying ingredients with zero concern for buying low-cost I still spend less on food. Even something like coffee, I can randomly splurge on a $25 bag of coffee just because I want to, because I still spend less than a couple bucks a cup, good luck doing that at a coffee shop.
As for holidays, I cut my budget on that and started saving the difference. I still do something "nice" every couple years, but the rest of the time I've had nearly as much fun with cheap non-pretentious short trips to do things with friends and family.
It's easy to say "if only you didn't buy that latte" but you're passing over the fact that housing and food costs in general are rising at an insanely high rate. You can only make so many cuts and soon nobody will be able to catch up
You are right and I have debt I’m paying off due to stupid decisions when I was younger. Have a good job but also do surveys on the side to make a little extra and I house sit in the summer so that is some extra cash as well. But I’ve learned the hard way how quickly eating out can add up. Thankfully I do a hybrid at work so I only have to be in the office twice a week so that saves on gas. You are right, there are things that can be done
Yeah, cause he claims he lives on a basic necessity budget. That guy is the epitome of a grifter and hypocrite. Not to mention he's literally dumb as fuck.
A Porshe Taycan is a basic necessity, chud.
Let me tell you, if I told people what I have available to me in liquid assets, they'd call me rich. I may have had some money invested in my old bank accounts that was from my parents helping me learn saving money, but st this point, I'd say all my money is my own. Most of my early gains come from trusting my father to invest my money in the stock market. He got in early on things that went up in value 1000% over the course of two decades.
I am debt-free, own my house and car, don't live by the paycheck... and my income is probably what people would still call poverty-level these days ($35k before taxes)
I blame debt for a lot of people in my age group that have trouble. When I looked around at my peers in my 20s and a bit of my 30s it's what I always saw. Tons of student loans. Needing a new fancy "cool" car at 18-20. Traveling all over on credit. They never could wait for anything. Meanwhile, I paid for college by working full time and for the most part giving the school checks every semester. It took me six years to get a "4-year" degree, but I walked away not owing a penny. I bought a car for $3,000 cash I'd saved two months after I graduated high school. It was in really nice shape, but wasn't trendy and modern. It was also damn comfortable and got me where I needed to be every time. I drove that until I was 25. I didn't really travel much until I was nearly 30, and even then it's not a huge amount I spend.
The thing is, everyone looks at me now like I'm rich, but most of the people around me who think that have more income than me or at the very least think I make a lot more than I do. Yeah, I have nice stuff, and yeah, I don't stress about money at all, because I don't have to. I only have mortgage debt, I could get rid of that if I wanted without too much pain. Car titles are on hand and clear and will be even though I'm looking at buying something else soon. I paid my dues the hard and patient way, when they were instead paying the bankers.
Nothing but the mortgage for debt is great. I really rushed my mortgage plan as fast as I could, because the interest accounts for so goddamn much of the repayment. Made it a 30-year plan just to be sure my own monthly budget could handle it, then made large lump-sum deposits whenever I had a good amount available.
Yeah, I could work on getting rid of the mortgage, but it's so small and so low interest I just don't bother.
I remember with cars though, when I first got a car loan at 25. I started looking at the interest and wondering why the hell I wanted to give that to the bank. So I paid it off pretty quick. My plan since I was young-20s was always to improve and never go backwards. It started really simple. One example, I realized that insurance could be had cheaper if I paid for the policy in a full lump sum. That next policy term, I paid the policy and then saved the money to pay in full for the next one. Now I'm done, I save for the future one every term and pay it in full. That's let's say $50 a year I've kept in my pocket. I did the same thing with cars. After I paid that loan off, I saved a reduced amount from the payment for 5 years while I used the car I had. Then the next car I just bought and now the banker doesn't get his cut.
Awesome! My parents talked to me about saving and investing but I didn’t listen until my late 30s. So better late than never. My goal is to be debt free within 3 years. Congrats
Do you have a wife,girlfriend or a kid? Cause that's fucking crazy
Oh, Inflation can be a very good thing... if, say, you're borrowing a shit-ton of money on a fixed-rate lone, or are paying off on a fixed-rate mortgage.
Not something most people are casually going to be doing.
I've found over the years that financial stuff isn't very intuitive, even to very smart people.
Fun little aside, apparently it's a bit of a stereotype that doctors are very bad with money. Clearly, I need to work on getting a Dr Sugar Momma to make sure she doesn't spend herself into the poor-house. (I would never do this. This is horrible advise.)
I think there is some historical evidence people will start to care about the Fed when inflation gets high enough. I believe some drastic actions were taken in the 70s to preserve the system... It didn't lead exactly to scrutiny on the Fed -- I guess they dodged it -- but there was enough discontent to motivate the government to do something. Which is interesting because the Fed is not a part of the government.
The Federal Reserve was created by the Federal Reserve Act in 1913, all branch banks have .gov websites, and the Board of Governors are appointed by the President and confirmed by the Senate.
But sure, the Federal Reserve is totally a private bank and not part of the government.
Who owns it?
Janet Yellen.