Economy Why are Americans so terrible with money?

[evansusmc2]

I’m very good with money and am not a reflection of the average American.

But this is all true. Americans are super shitty when it comes to financial responsibility. That’s also why I refuse to sympathize with Americans crying because they have to pay their student loans back.

 

[ThaiSexPills]

In a land with such great opportunity, the poor are poor because they’re dumb. I know the cost of living is skyrocketing but still…

 

[HeffDoesWant]

Might be because our govt sets z bad example.

Narp.

It's because the mega wealthy tilt the game in their favour to both you and your governments expense.

But never fear, now they've got outright control of the government, Im sure they'll come good.

 

[HeffDoesWant]

In a land with such great opportunity, the poor are poor because they’re dumb. I know the cost of living is skyrocketing but still…

In a land of such great opportunity, its surprising to have such pedestrian levels of opportunity.

Global Social Mobility Index - Wikipedia

en.m.wikipedia.org

If you're rich and move to America, absolutely unparalleled opportunity no doubt in my mind.

But if poor and in America it's a shitty place to get ahead. Not impossible just highly improbable.

 

[ThaiSexPills]

In a land of such great opportunity, its surprising to have such pedestrian levels of opportunity.

Global Social Mobility Index - Wikipedia

en.m.wikipedia.org

If you're rich and move to America, absolutely unparalleled opportunity no doubt in my mind.

But if poor and in America it's a shitty place to get ahead. Not impossible just highly improbable.

What other countries have more opportunity?

I think that has a lot more to do with people accepting the same socioeconomic factors they’ve grown up with tbh. I think any of these poor people could easily uplift themselves.

Most of the poor people I know went on to have kids with some other poor when they were young though.

 

[HeffDoesWant]

What other countries have more opportunity?

I think that has a lot more to do with people accepting the same socioeconomic factors they’ve grown up with tbh. I think any of these poor people could easily uplift themselves.

Most of the poor people I know went on to have kids with some other poor when they were young though.

What countries?
Well the 26 countries ranked ahead of it for social mobility would be a logical place to start.

Do think improving education would impact that frequency, because research suggests education delays having children?


I don't believe Americans are mentally inferior, neither intellectual or emotionally. But they are prayed upon.

Uplifting yourself is not impossible in America, its just harder there.

 

[BForrester]

I don't know how poor financial education in schools can be blamed. There's a wealth of information available in seconds at your fingertips if you have an ounce of curiosity or desire to learn. You can learn how interest and compounding work in your favor, or at your expense, in minutes if you have a shred of motivation.

A lot of it is psychological. I have a six-figure salary, but drive a 2008 Toyota Corolla with 160k miles, have the cheapest smartphone possible, max out 401k, have 12 months' expenses in savings, etc. It's not because I was well educated in personal finance in high school, it's because I have a psychological aversion to debt and living paycheck-to-paycheck.

 

[Satur9]

In a land with such great opportunity, the poor are poor because they’re dumb. I know the cost of living is skyrocketing but still…

But even intelligent people are bad with money here. Seriously. We see it all the time. Or at least I do. Also see such lack of impulse control. People are like dogs here. They see something and they want it right now. Fuck the consequences and interest on these things. I want them NOW!

And then the interest adds, and the phone calls start. Then the sob stories begin in earnest. All because you can’t control your base urges for something new and exciting. Like an animal with no sense.

 

[BForrester]

Even if he doesn't think it will go through, its still more then Biden or Kackla Harris has done.

Yes, because they could make a GOP controlled Congress increase taxes for the wealthy. They did every bit as much as Trump, which is to say they talked about it. In fact, they did more because their tax policy was to raise taxes on individual earners from $400k, not $2.5m.

 

[BForrester]

nice try but I was married for 11 years and I am right. Why do you think nearly every store in every mall selling useless consumer products is geared towards women.

Women buy lots of little, inexpensive dumb shit that adds up. Men buy a few hugely expensive dumb shit that adds up. Think golf clubs, pickup trucks, boats, watches, etc.

 

[BForrester]

The smart way to do it is to go to a community college for 2 years. Then transfer the credits to a good school. Save yourself 60-70k and the degree says the good school.

That's what I did. I was accepted into the two top state schools (Indiana and Purdue), but I elected to go to community college for the the first two years. I got my foot in the door with an Associate's (applied science in information systems) and my employer paid for most of my BS and MS through their tuition reimbursement program. I do regret missing out on the "college experience", but I never had to go into debt for my education.

 

[Lycandroid]

Women buy lots of little, inexpensive dumb shit that adds up. Men buy a few hugely expensive dumb shit that adds up. Think golf clubs, pickup trucks, boats, watches, etc.

you don't really think a pickup truck is a dumb expensive purchase do you ?

 

[Berserker13]

 

[lowlife]

I have family like this. They make dogshit for money but they go to more concerts, more vacations and more cruises than I do. They also love casinos. When they get questioned on their spending habits they just say something like what do you think I should just stay at home and not do anything because I don't make as much money as you?

I'm frugal myself, but life imo is about experiences. I wonder if people like that every feel any regret when they pass; that they could have saved and maybe lived a "better" life in old age, or if the lived experiences make up for it. I guess it depends largely on the experiences.

 

[Richmma80]

Meanwhile, I am worth millions and I drive a 2004 Toyota Corolla

 

[RoastBeast]

I'm frugal myself, but life imo is about experiences. I wonder if people like that every feel any regret when they pass; that they could have saved and maybe lived a "better" life in old age, or if the lived experiences make up for it. I guess it depends largely on the experiences.

I agree but they're wildly unhappy because of their financial situation as well.

All you have to do is just strap down and live a boring life for 6 months or so. You save up a bit of a nest egg and now you have the money to be able to go have those experiences or if something breaks on your car, you can just pay to fix it without going into debt or needing a loan. Not making interest payments means you can save even more money and start actually doing really fun stuff like going to Hawaii or anything else you couldn't normally afford.

 

[lowlife]

I agree but they're wildly unhappy because of their financial situation as well.

All you have to do is just strap down and live a boring life for 6 months or so. You save up a bit of a nest egg and now you have the money to be able to go have those experiences or if something breaks on your car, you can just pay to fix it without going into debt or needing a loan. Not making interest payments means you can save even more money and start actually doing really fun stuff like going to Hawaii or anything else you couldn't normally afford.

I absolutely agree, just trying to look at the other side of it. I went "minimalist" after my divorce a few years ago and it's transformed my life completely. I have enough money now to go wherever I want, take time off from working, etc. The freedom of no bills and money coming in is something I could never give up for material things or lame, half ass vacations.

 

[PG29 red0 Jr]

I'm from old-school Skokie IL. Where I am from in "America" the majority of people are especially good with money. I mean especially good.

 

[evansusmc2]

In a land with such great opportunity, the poor are poor because they’re dumb. I know the cost of living is skyrocketing but still…

effing THANK YOU. Glad someone said this.

 

[evansusmc2]

In a land of such great opportunity, its surprising to have such pedestrian levels of opportunity.

Global Social Mobility Index - Wikipedia

en.m.wikipedia.org

If you're rich and move to America, absolutely unparalleled opportunity no doubt in my mind.
But if poor and in America it's a shitty place to get ahead. Not impossible just highly improbable.

Out of 190+ countries, #27 isn't to bad. Add in the factor of America housing the MOST irresponsible spenders on the planet... and we are definitely in the top 10.