Economy Why are Americans so bad with handling money?

F1980

F1980

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First of all, dont give me that shit how people are struggling with basic needs so they have to use credit cards just to make ends meet. I know and YOU know that's bullshit. People are buying things they don't need and are borrowing money at a super high interest rate to buy that thing they don't need... when they already owe tens of thousands of dollars with a 25% interest rate on credit card debt

I know plenty of people that are horrible with money. I think over half of everyone I know do not know how to save. This girl I know who has been crying about money problems ever since I met her just bought a brand new car... over $45k with a super high interest rate. She told me she's too embarrassed to tell me what her interest rate was. And she's already DROWNING in credit card debt BEFORE she bought the car. It's not just me. We all know a LOT of people who just spend, spend, spend.

Americans now owe over a TRILLION dollars in credit card debt

 
A lot of things that bother me is that a LOT of people nowadays are using DoorDash and UberEats to get their food. They don't cook at home anymore. That's a lot of money to spend on food. A SHIT TON of money. That can be THOUSANDS of dollars every month.

And people buying new cars when they havent even paid off their current car. They have a car payment their ENTIRE lives. If they put that money into their 401k, they'd actually have a retirement when they get old.
 
I'm MAD about this too

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F1980 said:
A lot of things that bother me is that a LOT of people nowadays are using DoorDash and UberEats to get their food. They don't cook at home anymore. That's a lot of money to spend on food. A SHIT TON of money. That can be THOUSANDS of dollars every month.

And people buying new cars when they havent even paid off their current car. They have a car payment their ENTIRE lives. If they put that money into their 401k, they'd actually have a retirement when they get old.
Click to expand...
Dawg, that bothers the fuck outta me! My wife was friends with my neighbor's tenant who wasted all of her money on shit like that. She would have to ask my wife for money for part of her rent or power bills. She always paid her back, until she didn't, and now they dont talk anymore. But I'll see her getting doordash delivered every other day. Meanwhile, we are making lentil soup because it is cheap and delicious and healthy. And god damn it, cooking is just fun!
 
I'm not sure for other countries but there is almost zero financial education in our schools. Barely learn the difference between credit and debit.
 
F1980 said:
A lot of things that bother me is that a LOT of people nowadays are using DoorDash and UberEats to get their food. They don't cook at home anymore. That's a lot of money to spend on food. A SHIT TON of money. That can be THOUSANDS of dollars every month.

And people buying new cars when they havent even paid off their current car. They have a car payment their ENTIRE lives. If they put that money into their 401k, they'd actually have a retirement when they get old.
Click to expand...

One of my wife's old friend's parents loved putting car on finance but also seemingly didn't believe in insurance. At one point they were paying of a car that was written off while paying for another car to replace it. All while renting well into their 50s
 
Kinda hard to manage money when the average American can't do basic junior school math.
 
F1980 said:
First of all, dont give me that shit how people are struggling with basic needs so they have to use credit cards just to make ends meet. I know and YOU know that's bullshit. People are buying things they don't need and are borrowing money at a super high interest rate to buy that thing they don't need... when they already owe tens of thousands of dollars with a 25% interest rate on credit card debt

I know plenty of people that are horrible with money. I think over half of everyone I know do not know how to save. This girl I know who has been crying about money problems ever since I met her just bought a brand new car... over $45k with a super high interest rate. She told me she's too embarrassed to tell me what her interest rate was. And she's already DROWNING in credit card debt BEFORE she bought the car. It's not just me. We all know a LOT of people who just spend, spend, spend.

Americans now owe over a TRILLION dollars in credit card debt

Click to expand...

They learn that from their own government

1505.jpeg
 
I dont know if this is entirely on topic, but I was reading a reddit thread the other day about debt and housing and stuff, and a father was complaining that his two kids still have to live with him because it is so hard to find affordable housing, and it just had me thinking... do people not get roommates anymore? Like, I'm only 35, but when I would be single (ie, not living with a partner), I always had roommates. Heck, when I was 21 or 22, I found myself in a bind and moved in with two guys I had never even met before. Before that, I lived in a house with 7 other people (that wasnt the greatest house to be living in, but we all worked and went to university and had money to party on the weekend). I get renting is very costly right now, but your kid also doesn't need a three bedroom apartment to themselves. Sometimes your kid will have to rough it and split it with a couple different people. I dunno, I just did everything I could to get out of my parents' place as soon as I graduated high school, and my parents are like my best friends haha.
 
Because corporations have trained USA that debt is normal and nothing to be ashamed of.

Back in the 90’s, people would save up to go on a vacation. Being in debt was seen as a bad thing. Now everyone has a credit card. I was at a $36 buffet per person and the table next to me had 8 high schoolers. When I was in high school and even in college, I’d buy $1 chicken sandwiches at fast food places (I sound old) .
 
F1980 said:
First of all, dont give me that shit how people are struggling with basic needs so they have to use credit cards just to make ends meet. I know and YOU know that's bullshit. People are buying things they don't need and are borrowing money at a super high interest rate to buy that thing they don't need... when they already owe tens of thousands of dollars with a 25% interest rate on credit card debt

I know plenty of people that are horrible with money. I think over half of everyone I know do not know how to save. This girl I know who has been crying about money problems ever since I met her just bought a brand new car... over $45k with a super high interest rate. She told me she's too embarrassed to tell me what her interest rate was. And she's already DROWNING in credit card debt BEFORE she bought the car. It's not just me. We all know a LOT of people who just spend, spend, spend.

Americans now owe over a TRILLION dollars in credit card debt

Click to expand...


Why do idiots like yourself think you know everything about 350 million people?.
It's like me askin why all Europeans have a stick up their ass.

Problem with that is I actually know Europeans and have seen first hand that it's not true.

Maybe you should talk to some Americans, but maybe you should lose the fuckin attitude first.
 
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