Wow the lack of financial education in this country is staggering

[Anonymous]

Anonymous wrote:

Anonymous wrote:We are a consumer society. We consume a lot in this country.

Many of us on this forum who have a lot savings and investments are benefiting from other people doing the spending. Just increase the savings rate by 10% nationally and you will massive changes in the economy

The American economy is built on debt and predation. Once you are stuck in that cycle of debt, it's very hard to get out because structurally you are meant to be kept in that cycle because a lot profit from that.

My econ 101 teacher claimed that if everyone saved and invested as recommended then everyone's income would decrease. He also told us that people in debt are very profitable for capital owners because debtors spend the next dollar they get since they don't know if they will have another dollar the following day.

I don't know I feel like he was talking sh***t lol

Keynes coined this and called it the paradox of savingg

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

A car loan for a 15k used car- yes that’s a need.

Where does one find a reliable $15,000 used car that doesn’t have high mileage and isn’t going to break down frequently or need expensive repairs? No, nobody needs a $50,000 car, but I love how people on this board make it seem like inexpensive, reliable used cars are so easy to find.

They are, if you know what you're looking for. Private sales + a trustworthy mechanic. That's how I've purchased all my cars.

You’re describing the ideal way to find a car but that is no longer the case. Folks who have a quality older used car are holding onto them. Those who are selling are likely those who either: think their cars are worth more than they are , don’t like the trade in quick sale value they’d get from Carmax or have a costly issue they aren’t disclosing. Also, the supply of quality used cars has gone down. So many sub par options…even if you’re the meticulous buyer I think you are.

All if this, plus the idea somebody can safely (let alone confidently) make a large purchase on the private market is so outdated. My 75 yo dad operates in this kind of handshake economy - the kind where you get your used car from your barber's cousin and you've had the same mechanic for 30 years, make sure to give him a handle of whiskey at Christmas so he prioritizes your car - and even he gets scammed half the time. Meanwhile I'm getting scammed by my actual mechanic, nevermind the guy selling a car on Facebook Marketplace.

[Anonymous]

Anonymous wrote:I think most people learn from their parents. My parents were always frugal and good with money. They passed this down. I have done the same.

I agree. My parents were frugal. We are also frugal.

Then people wonder how we can do what we do. For example, I downshifted to take time off for a sick relative. Someone asked questions. They are just curious, I guess. But I did work full-time for many years while raising a family and living way below my means.

[Anonymous]

Anonymous wrote:The gap between rich and poor persists because poor people keep doing the things that made them poor in the first place. And rich people keep doing the things that made them rich in the first place.

What a stupid comment. Not accurate at all, but I'm sure it makes you feel superior.

[Anonymous]

Anonymous wrote:

Anonymous wrote:The gap between rich and poor persists because poor people keep doing the things that made them poor in the first place. And rich people keep doing the things that made them rich in the first place.

What a stupid comment. Not accurate at all, but I'm sure it makes you feel superior.

Not the PP but I grew up very poor and it’s an incomplete comment but not wrong. It’s systemic but boils down to continuing to do the same things that aren’t working. I see it continuing with some members of my family. Won’t go to college or trade school. Does drugs. Won’t stick with a job. For my family, drugs play a big role. For those who had both parents on drugs, they’re mostly likely going to get stuck. If only one parent is on drugs, they have a chance.

So yeah. Drugs. Don’t do them. Go to school. It’s not a mystical evil keeping you down.

[Anonymous]

Definitely maga is so financially illiterate

From
Trump
Stealing billions of their monies raising the national debt. Suing for $10 Billion and maga is all in paying him their tax dollars

To cyber trucks really you paid $80,000 for a piece of junk?

[Anonymous]

Anonymous wrote:I think they need to limit loans on new cars. No one needs a 50k car. A car loan for a 15k used car- yes that’s a need.

That sounds like an arbitrary number on your part. How many $15,000 used cars are out there in excellent condition? It sounds like you’re trying to saddle people with repair bills — that will be financed with credit cards at higher interest rates than car loans. Much better to have a reliable car that will last longer than the term of loan. So, a person buys a $15,000 car, pays for a few repairs, then finally gets to a repair that they can’t afford — yet they still have the original car loan, the repair bills to pay off, and no reliable transportation.

You could be right though. Please suggest some options for reliable $15,000 cars that will last longer than the life of the loan. Less than $15,000 would be even better. I know several people who could really use this type of information.

[Anonymous]

Definitely maga is so financially illiterate

From
Trump
Stealing billions of their monies raising the national debt. Suing for $10 Billion and maga is all in paying him their tax dollars

To cyber trucks really you paid $80,000 for a piece of junk?

Very few cyber trucks were sold. Paying 80K for any car is probably not a good idea if you don't have the money.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

A car loan for a 15k used car- yes that’s a need.

Where does one find a reliable $15,000 used car that doesn’t have high mileage and isn’t going to break down frequently or need expensive repairs? No, nobody needs a $50,000 car, but I love how people on this board make it seem like inexpensive, reliable used cars are so easy to find.

They are, if you know what you're looking for. Private sales + a trustworthy mechanic. That's how I've purchased all my cars.

You’re describing the ideal way to find a car but that is no longer the case. Folks who have a quality older used car are holding onto them. Those who are selling are likely those who either: think their cars are worth more than they are , don’t like the trade in quick sale value they’d get from Carmax or have a costly issue they aren’t disclosing. Also, the supply of quality used cars has gone down. So many sub par options…even if you’re the meticulous buyer I think you are.

So true. My car right now has $160,000 and I am about to do some preventative maintenance later this week that will cost about $5k. Hopefully I can get another $100k out of this car.

Can someone please explain why cats are so so expensive these days? I am sick and tired and hearing about supply chain supply chain supply chain...We are no longer in 2021...
Yet supply chain supply chain supply chain

[Anonymous]

Why don't we let in some cheap Chinese cars? Why are American car makers only selling us expensive cars?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

A car loan for a 15k used car- yes that’s a need.

Where does one find a reliable $15,000 used car that doesn’t have high mileage and isn’t going to break down frequently or need expensive repairs? No, nobody needs a $50,000 car, but I love how people on this board make it seem like inexpensive, reliable used cars are so easy to find.

They are, if you know what you're looking for. Private sales + a trustworthy mechanic. That's how I've purchased all my cars.

You’re describing the ideal way to find a car but that is no longer the case. Folks who have a quality older used car are holding onto them. Those who are selling are likely those who either: think their cars are worth more than they are , don’t like the trade in quick sale value they’d get from Carmax or have a costly issue they aren’t disclosing. Also, the supply of quality used cars has gone down. So many sub par options…even if you’re the meticulous buyer I think you are.

So true. My car right now has $160,000 and I am about to do some preventative maintenance later this week that will cost about $5k. Hopefully I can get another $100k out of this car.

Can someone please explain why cats are so so expensive these days? I am sick and tired and hearing about supply chain supply chain supply chain...We are no longer in 2021...
Yet supply chain supply chain supply chain

Could it be … tariffs?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

A car loan for a 15k used car- yes that’s a need.

Where does one find a reliable $15,000 used car that doesn’t have high mileage and isn’t going to break down frequently or need expensive repairs? No, nobody needs a $50,000 car, but I love how people on this board make it seem like inexpensive, reliable used cars are so easy to find.

They are, if you know what you're looking for. Private sales + a trustworthy mechanic. That's how I've purchased all my cars.

You’re describing the ideal way to find a car but that is no longer the case. Folks who have a quality older used car are holding onto them. Those who are selling are likely those who either: think their cars are worth more than they are , don’t like the trade in quick sale value they’d get from Carmax or have a costly issue they aren’t disclosing. Also, the supply of quality used cars has gone down. So many sub par options…even if you’re the meticulous buyer I think you are.

So true. My car right now has $160,000 and I am about to do some preventative maintenance later this week that will cost about $5k. Hopefully I can get another $100k out of this car.

Can someone please explain why cats are so so expensive these days? I am sick and tired and hearing about supply chain supply chain supply chain...We are no longer in 2021...
Yet supply chain supply chain supply chain

Could it be … tariffs?

And the bad news is that even if tariffs go away, car makers WILL NEVER lower prices. We are absolutely overpaying for cars. And then add the fact that in the US to buy a car you don't have many options. Outside of Tesla, I don't know many brands that you can purchase without going to SOBs dealers. God I hate those crooks. The entire experience is just nauseating.

[Anonymous]

You have not been paying attention since the 80s then. Look at what is happening to education achievement. Like 50% have reading comprehension of 8th grader. There is a good movie from 2006 about this - Idiocracy.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

A car loan for a 15k used car- yes that’s a need.

Where does one find a reliable $15,000 used car that doesn’t have high mileage and isn’t going to break down frequently or need expensive repairs? No, nobody needs a $50,000 car, but I love how people on this board make it seem like inexpensive, reliable used cars are so easy to find.

They are, if you know what you're looking for. Private sales + a trustworthy mechanic. That's how I've purchased all my cars.

You’re describing the ideal way to find a car but that is no longer the case. Folks who have a quality older used car are holding onto them. Those who are selling are likely those who either: think their cars are worth more than they are , don’t like the trade in quick sale value they’d get from Carmax or have a costly issue they aren’t disclosing. Also, the supply of quality used cars has gone down. So many sub par options…even if you’re the meticulous buyer I think you are.

So true. My car right now has $160,000 and I am about to do some preventative maintenance later this week that will cost about $5k. Hopefully I can get another $100k out of this car.

Can someone please explain why cats are so so expensive these days? I am sick and tired and hearing about supply chain supply chain supply chain...We are no longer in 2021...
Yet supply chain supply chain supply chain

Could it be … tariffs?

Bingo

And Trumps stupidity all around

Maga trumps a businessman!!

Reality that POs pedo never once made a business successful

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The gap between rich and poor persists because poor people keep doing the things that made them poor in the first place. And rich people keep doing the things that made them rich in the first place.

What a stupid comment. Not accurate at all, but I'm sure it makes you feel superior.

Not the PP but I grew up very poor and it’s an incomplete comment but not wrong. It’s systemic but boils down to continuing to do the same things that aren’t working. I see it continuing with some members of my family. Won’t go to college or trade school. Does drugs. Won’t stick with a job. For my family, drugs play a big role. For those who had both parents on drugs, they’re mostly likely going to get stuck. If only one parent is on drugs, they have a chance.

So yeah. Drugs. Don’t do them. Go to school. It’s not a mystical evil keeping you down.

I have family like this too. Honestly some people don’t want to be helped because it requires a lifestyle change and some extra effort. My dad is someone who broke the poverty cycle by joining the military and my relatives are very kind people but their choices are kind of shocking and they are very difficult to help.