What money habits keep you poor?

[Anonymous]

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Anonymous wrote:Sending your kid to private school k-12 & then making that kid take out loans for college

+1 and I’ll add —— sending your kids to a $50K/year private school only to watch similar kids who go to public schools get into the same high tier colleges that your kid got into.

If you don’t get it, you don’t get it. It’s not about “getting into college.” It’s about college preparation, being able to participate in whichever sports you want in 9th grade, well-behaved student body and so many other things.

Hey believe what you want to believe to justify all that money you are paying to a private school while also paying property taxes and subsidizing public school students. Confirmation bias at its best.

If private schools prepare their students for college so well, why do ALL of my friends who send their kids to private schools also pay for tutors and test prep outside of their school. The reality is public schools prepare their students for college just as much as private schools do and public school parents also pay for tutors and test prep. Public school kids can participate in any sport they want in 9th grade as well (not sure where you are coming from on this). A well-behaved student body --- paahleeeze lol -- you are kidding yourself. Private schools have drug and discipline problems just as bad as public schools. In fact, the drug problem is worse since these kids have access to money.

That's super weird. I know of no one who is paying for tutors. Maybe test prep, but lets get real, I don't want my school prepping for the SAT, that's not really education and its what publics already do teaching to the SOLs.

Sure, if you don't have an athletic kid but want them to participate in a "regular" sport (rather than frisbee or 'running in circles' sports), public schools are terrible. Travel players take all teams spots and there are not varsity or intramurals offered because of insufficient field space (see 3000 students). And rec sports mostly stop at 8th around here.

Blah, Blah, Blah. Whatever you need to think to justify that huge private school tuition you pay. You must not live in a good school district. Moving would be cheaper than paying for private school. Oh and by the way, those private school athletes play club sports from early age as well so they can make the team as well.

Curious where you suggest I move to? I actually did the math that with higher interest rates private high school is cheaper than moving to a place like McLean.

Not for me. I have 6 years of secondary school left to cover. Would be a first time homeowner. Private tuition is cheaper than increased prices + interest rates + property taxes now.

[Anonymous]

[twitter]

Anonymous wrote:What’s W&L?

Washington & Lee High School in Arlington.

Oops….I mean Washington & Liberty High School.

[Anonymous]

Anonymous wrote:

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Anonymous wrote:Sending your kid to private school k-12 & then making that kid take out loans for college

+1 and I’ll add —— sending your kids to a $50K/year private school only to watch similar kids who go to public schools get into the same high tier colleges that your kid got into.

If you don’t get it, you don’t get it. It’s not about “getting into college.” It’s about college preparation, being able to participate in whichever sports you want in 9th grade, well-behaved student body and so many other things.

Hey believe what you want to believe to justify all that money you are paying to a private school while also paying property taxes and subsidizing public school students. Confirmation bias at its best.

If private schools prepare their students for college so well, why do ALL of my friends who send their kids to private schools also pay for tutors and test prep outside of their school. The reality is public schools prepare their students for college just as much as private schools do and public school parents also pay for tutors and test prep. Public school kids can participate in any sport they want in 9th grade as well (not sure where you are coming from on this). A well-behaved student body --- paahleeeze lol -- you are kidding yourself. Private schools have drug and discipline problems just as bad as public schools. In fact, the drug problem is worse since these kids have access to money.

That's super weird. I know of no one who is paying for tutors. Maybe test prep, but lets get real, I don't want my school prepping for the SAT, that's not really education and its what publics already do teaching to the SOLs.

Sure, if you don't have an athletic kid but want them to participate in a "regular" sport (rather than frisbee or 'running in circles' sports), public schools are terrible. Travel players take all teams spots and there are not varsity or intramurals offered because of insufficient field space (see 3000 students). And rec sports mostly stop at 8th around here.

Blah, Blah, Blah. Whatever you need to think to justify that huge private school tuition you pay. You must not live in a good school district. Moving would be cheaper than paying for private school. Oh and by the way, those private school athletes play club sports from early age as well so they can make the team as well.

Curious where you suggest I move to? I actually did the math that with higher interest rates private high school is cheaper than moving to a place like McLean.

Then don’t move to McLean. This is not hard.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Sending your kid to private school k-12 & then making that kid take out loans for college

+1 and I’ll add —— sending your kids to a $50K/year private school only to watch similar kids who go to public schools get into the same high tier colleges that your kid got into.

If you don’t get it, you don’t get it. It’s not about “getting into college.” It’s about college preparation, being able to participate in whichever sports you want in 9th grade, well-behaved student body and so many other things.

Hey believe what you want to believe to justify all that money you are paying to a private school while also paying property taxes and subsidizing public school students. Confirmation bias at its best.

If private schools prepare their students for college so well, why do ALL of my friends who send their kids to private schools also pay for tutors and test prep outside of their school. The reality is public schools prepare their students for college just as much as private schools do and public school parents also pay for tutors and test prep. Public school kids can participate in any sport they want in 9th grade as well (not sure where you are coming from on this). A well-behaved student body --- paahleeeze lol -- you are kidding yourself. Private schools have drug and discipline problems just as bad as public schools. In fact, the drug problem is worse since these kids have access to money.

For sports--they are stating (I believe) that it is much easier for your kid to participate/make the team vs at your local public HS.

But otherwise I agree. Never saw the need for private school---did it in K for one kid because we wanted full day K vs 2.5 hours. Then returned to public schools for grade 1 and never looked back. I prefer the balance we get at the local schools and that my kid's friends live within a 15 min drive not an hour away which would be the case for privates. When you live in an area with great public schools, the only thing "local private" are Catholic schools, not the elite privates, because most use the publics.

+1. My son has been good with friends with my next door neighbors' son for years. Both are seniors. My neighbors decided to send their kid to the Potomac School for grades 9-12 which I believe is about $40-50K/yr. My son goes to W&L for the IB program. They are very similar kids but obviously don't hang out as much anymore due to the different schools and subsequent school-related friends. My son is going to UVA next year and her son is going to JMU. Both good Universities but I'm definitely glad I saved the $160-200K over those 4 years and instead contributed to a 529. To each their own.

Funny how people like you think prestigious high schools are NBD but that prestigious colleges are.

High school matters more than college. The preparation (social & academic) and connections you make in HS are very important.

[Anonymous]

Having an Amazon account

[Anonymous]

Anonymous wrote:Having an Amazon account

Not having an Amazon account. Ordering stuff without using the Prime discount.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Sending your kid to private school k-12 & then making that kid take out loans for college

+1 and I’ll add —— sending your kids to a $50K/year private school only to watch similar kids who go to public schools get into the same high tier colleges that your kid got into.

If you don’t get it, you don’t get it. It’s not about “getting into college.” It’s about college preparation, being able to participate in whichever sports you want in 9th grade, well-behaved student body and so many other things.

Hey believe what you want to believe to justify all that money you are paying to a private school while also paying property taxes and subsidizing public school students. Confirmation bias at its best.

If private schools prepare their students for college so well, why do ALL of my friends who send their kids to private schools also pay for tutors and test prep outside of their school. The reality is public schools prepare their students for college just as much as private schools do and public school parents also pay for tutors and test prep. Public school kids can participate in any sport they want in 9th grade as well (not sure where you are coming from on this). A well-behaved student body --- paahleeeze lol -- you are kidding yourself. Private schools have drug and discipline problems just as bad as public schools. In fact, the drug problem is worse since these kids have access to money.

That's super weird. I know of no one who is paying for tutors. Maybe test prep, but lets get real, I don't want my school prepping for the SAT, that's not really education and its what publics already do teaching to the SOLs.

Sure, if you don't have an athletic kid but want them to participate in a "regular" sport (rather than frisbee or 'running in circles' sports), public schools are terrible. Travel players take all teams spots and there are not varsity or intramurals offered because of insufficient field space (see 3000 students). And rec sports mostly stop at 8th around here.

Blah, Blah, Blah. Whatever you need to think to justify that huge private school tuition you pay. You must not live in a good school district. Moving would be cheaper than paying for private school. Oh and by the way, those private school athletes play club sports from early age as well so they can make the team as well.

Curious where you suggest I move to? I actually did the math that with higher interest rates private high school is cheaper than moving to a place like McLean.

DP here - Springfield, Burke, Centreville, or Chantilly

Don’t pay for private high school - unless you are aiming for highly selective colleges AND your child is really going to be able to be competitive for those schools. Now is the time for honesty with yourself about your child. Do they excel at school at simple stuff like taking multiple choice tests? Are they self motivated ? No not like if you prompt them over and over and but as in they take out a planner and plan things out. And make sure to look at the colleges the students go to from the private schools you are considering. The bulk of students will go to run of the mill schools that even in a low rated public school students still get admitted to the same school.

The other reason for private high school - your local public high school is low rated.

[Anonymous]

Mine would be I like to have fun and spend money on my pets vet care and my family. I need to study for things to elevate me and raise my pay but too many distractions. I live with 4 dogs just 1 is mine.

[Anonymous]

I'm a big procrastinator

[Anonymous]

Anonymous wrote:I'm a big procrastinator

Me too.

[Anonymous]

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Anonymous wrote:My kid was telling me the other day that the poor kids in school have all got $100 or $200 trainers, while many of the rich kids are wearing $45 sneakers.

Not of course a main reason that poor people stay poor, but poor choices on conspicuous consumption is not always irrelevant either.

When you can never attain the big thing (house, neighborhood, full college tuition) you splurge on the small thing (sneakers, phone, clothes, maybe ever a more expensive car).

Often it’s easier for them not to attain them: low income apartments in good neighborhoods and Pell grants or scholarships for college (or not going to one).

Yeah so much easier (eyeroll).

I am one of the poor people I am talking about.
It’s easier for me to qualify for Pell grants for my kid than earn say $60k per year and not qualify

If you were earning low enough to qualify for Pell Grants, your child would be growing up in a neighborhood where they would hear gunshots on a nightly basis, would lack basic necessities & wouldn’t be considering applying to college.

You are very, very ignorant. I live in Takoma Park where you can find lots of subsidized (income-restricted) housing. No one lacks basic necessities or hears gunshots nightly. Those kids sit in the same classes as the kids who live in million dollar homes just a block away.

[Anonymous]

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Anonymous wrote:Children

I see many people make the mistake of overspending on their children. I understand they want their kids to have a certain type of childhood, but what looks like a middle class lifestyle costs so much more than it used to.

True, with all of what that entails: a larger house with a larger mortgage because every kid has to have their own room/American Dream, a good school district because!, so many activities all over the place that two cars are necessary, and then evenings are so chaotic that take-out is so convenient, and then the kids want cars at 16 to drive to school but they need to be new because safety, and it's an arms race for college so tutors and test prep, and then it's shameful to go to community college so paying 60K a year for a loser college instead, if the kid isn't good enough to get into the state flagship or a higher-tier college.

It's EASY to fall into that trap. We did buy in a great school district and paid a premium for it, although we sacrificed space so we don't have that large a mortgage. We did pay thousands in tutors and test prep. And our oldest DC, who has special needs, is going to a private university with a 50% acceptance rate - so not loser college, but we did turn down UMD honors because we knew disability services weren't going to be that good. And come what may, we try to cook from scratch because it's cheaper. And no new cars!

But I can feel the temptation of just paying more and more for all kid-centric things...

As a parent of a child with special needs, it shocks me to hear you talk about a “loser college” and being glad your son with SN didn’t end up at one. You’re awful.

[Anonymous]

Anonymous wrote:I read this list somewhere. Add yours.

What money habits keep you poor?

1. Lack of spending discipline.
2. Lack of earning power
3. Lack of work discipline.
4. Lack of financial literacy.
5. You are not paying yourself first.
6. Impulsive buying.
7. Broke people are influencing you.
8. Selling your time for money is your only income.

Agreeing to write 99-item listicles for cheap ass websites for less than $50 per article.

[Anonymous]

Paying lawyers

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Sending your kid to private school k-12 & then making that kid take out loans for college

+1 and I’ll add —— sending your kids to a $50K/year private school only to watch similar kids who go to public schools get into the same high tier colleges that your kid got into.

If you don’t get it, you don’t get it. It’s not about “getting into college.” It’s about college preparation, being able to participate in whichever sports you want in 9th grade, well-behaved student body and so many other things.

Hey believe what you want to believe to justify all that money you are paying to a private school while also paying property taxes and subsidizing public school students. Confirmation bias at its best.

If private schools prepare their students for college so well, why do ALL of my friends who send their kids to private schools also pay for tutors and test prep outside of their school. The reality is public schools prepare their students for college just as much as private schools do and public school parents also pay for tutors and test prep. Public school kids can participate in any sport they want in 9th grade as well (not sure where you are coming from on this). A well-behaved student body --- paahleeeze lol -- you are kidding yourself. Private schools have drug and discipline problems just as bad as public schools. In fact, the drug problem is worse since these kids have access to money.

That's super weird. I know of no one who is paying for tutors. Maybe test prep, but lets get real, I don't want my school prepping for the SAT, that's not really education and its what publics already do teaching to the SOLs.

Sure, if you don't have an athletic kid but want them to participate in a "regular" sport (rather than frisbee or 'running in circles' sports), public schools are terrible. Travel players take all teams spots and there are not varsity or intramurals offered because of insufficient field space (see 3000 students). And rec sports mostly stop at 8th around here.

Blah, Blah, Blah. Whatever you need to think to justify that huge private school tuition you pay. You must not live in a good school district. Moving would be cheaper than paying for private school. Oh and by the way, those private school athletes play club sports from early age as well so they can make the team as well.

Curious where you suggest I move to? I actually did the math that with higher interest rates private high school is cheaper than moving to a place like McLean.

DP here - Springfield, Burke, Centreville, or Chantilly

Don’t pay for private high school - unless you are aiming for highly selective colleges AND your child is really going to be able to be competitive for those schools. Now is the time for honesty with yourself about your child. Do they excel at school at simple stuff like taking multiple choice tests? Are they self motivated ? No not like if you prompt them over and over and but as in they take out a planner and plan things out. And make sure to look at the colleges the students go to from the private schools you are considering. The bulk of students will go to run of the mill schools that even in a low rated public school students still get admitted to the same school.

The other reason for private high school - your local public high school is low rated.

My child went to a public high school and then went to a very selective private university. You don’t need private high school to do this. But don’t tell the parents that just spent $200K to send their kid to a private high school this. They get very defensive.