Comments on: People Who Don’t Save Their Money http://mybiggestcomplaint.com/people-who-dont-save-their-money/687/ Where the world comes to complain. Thu, 04 Dec 2008 02:10:19 +0000 http://wordpress.org/?v=2.2.1 By: My Two Cents http://mybiggestcomplaint.com/people-who-dont-save-their-money/687/#comment-5346 My Two Cents Mon, 09 Jun 2008 22:56:51 +0000 http://mybiggestcomplaint.com/people-who-dont-save-their-money/687/#comment-5346 I think the economy has changed in such a way that you can't always blame the people but you do need to look at HOW and WHY those people are in debt. Let's start with the day you graduate from high school: Most go to college. How does one pay for college? Loans which should really be called Debt #1. College is expensive no matter where you go. If you want good grades you must concentrate on school (and not working all the time)...then get that $5 an hour a job in the summer. How does one save that? It goes directly to food, apt., a computer and more school bills. So you finally graduate. You need a car to drive to work. Car Debt #2 (plus insurance, gas, etc.) But your new job does not pay enough for an apt, car and student loan. How do you save now? And then it just snowballs and snowballs...medical bills, wedding bills, helping your parents bills, baby bills, and start-your-own business bills... The truth is, our society does not encourage saving. Our society encourages you to borrow money the moment you graduate from high school. What needs to happen is we need to educate kids before they walk out in to the world HOW to be thrifty, HOW to budget and make financial plans, and HOW to save and watch your money grow due to compound interest. Parents and schools need to show kids HOW to do this. Otherwise, they will find out too late - when they are already in the debt hole and can not get out. I think the economy has changed in such a way that you can’t always blame the people but you do need to look at HOW and WHY those people are in debt. Let’s start with the day you graduate from high school: Most go to college. How does one pay for college? Loans which should really be called Debt #1. College is expensive no matter where you go. If you want good grades you must concentrate on school (and not working all the time)…then get that $5 an hour a job in the summer. How does one save that? It goes directly to food, apt., a computer and more school bills. So you finally graduate. You need a car to drive to work. Car Debt #2 (plus insurance, gas, etc.) But your new job does not pay enough for an apt, car and student loan. How do you save now? And then it just snowballs and snowballs…medical bills, wedding bills, helping your parents bills, baby bills, and start-your-own business bills… The truth is, our society does not encourage saving. Our society encourages you to borrow money the moment you graduate from high school.

What needs to happen is we need to educate kids before they walk out in to the world HOW to be thrifty, HOW to budget and make financial plans, and HOW to save and watch your money grow due to compound interest. Parents and schools need to show kids HOW to do this. Otherwise, they will find out too late - when they are already in the debt hole and can not get out.

]]> By: Mark http://mybiggestcomplaint.com/people-who-dont-save-their-money/687/#comment-1461 Mark Thu, 04 Oct 2007 13:59:30 +0000 http://mybiggestcomplaint.com/people-who-dont-save-their-money/687/#comment-1461 While every thing you say is dead on except for one thing. Get rich quick is the real only true way to get rich. If of course your defining rich as having a lot of money. Well if you make 30/hr thats what you make. By saving is what your really saying is your setting yourself into a position where that money can work for you (And it won't work for you very hard in a savings account). When this money works for you it leverages you income to more than that 30/hr so you are therefor getting rich faster and with more saving the quicker you get rich so really until you make this sort of leverage to get more money to actually get rich quick you will not get rich. I say there are to many lazies out there unwilling to pay the price and work hard and take the risk to get rich. While every thing you say is dead on except for one thing. Get rich quick is the real only true way to get rich. If of course your defining rich as having a lot of money. Well if you make 30/hr thats what you make. By saving is what your really saying is your setting yourself into a position where that money can work for you (And it won’t work for you very hard in a savings account). When this money works for you it leverages you income to more than that 30/hr so you are therefor getting rich faster and with more saving the quicker you get rich so really until you make this sort of leverage to get more money to actually get rich quick you will not get rich.

I say there are to many lazies out there unwilling to pay the price and work hard and take the risk to get rich.

]]> By: tc3 http://mybiggestcomplaint.com/people-who-dont-save-their-money/687/#comment-1450 tc3 Wed, 03 Oct 2007 11:57:18 +0000 http://mybiggestcomplaint.com/people-who-dont-save-their-money/687/#comment-1450 Funny you should mention the distressed/torn clothing fad. This is one of about 30 complaints I have stored in my phone that I just haven't found the time to write. If anyone wants to hit it, have at it. You're right - lots of people fell for it! Funny you should mention the distressed/torn clothing fad. This is one of about 30 complaints I have stored in my phone that I just haven’t found the time to write. If anyone wants to hit it, have at it. You’re right - lots of people fell for it!

]]>