Reply to Would you buy your adult kid another car

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Are they living within their means? Or can they not afford it because they eat out all the time, spend a ton of money on the best haircuts and clothes, drink a ton of alcohol. Do they know how to be frugal?

That would change my answer. [/quote]

Those darned youngsters and their avocado toast ways! If they are eating avocados don't you dare help them with a car![/quote]

I’m the pp and I’m laughing at the avocado toast, but you and I know it’s not just a brunch here and there. It’s a $7 coffee every day, it’s door dash 5 times a week, it’s having an expensive phone + max plan and 5 different streaming subscriptions…it’s all the things that add up. When I was first out of college I ate rice a roni and I didn’t go out like my peers did. I had plenty of fun, but I was frugal until I could afford not to be. People need to be okay with not getting what they want when they want it in order to live within their means.

I am curious about OP’s kid and how OP feels about their budgeting.[/quote]

Omg, no it’s not. You are literally avocado toasting.

It’s the $4k rent that goes up 10% a year.  Auto insurance is out of control. If they have kids, daycare is basically legal extortion.

Rice a roni? How old are you exactly?

People go out because of financial nihilism — they have tried living frugal but realizing it’s a losing proposition, costs go up faster than you can save. 
[/quote]

Please. None of them have actually tried living frugally. They’ve been raised to expect Starbucks runs, restaurant food all the time, Amazon anything they want and need overnight, and multiple nice vacations a year as a right and not a privilege. $7 Starbucks/day is $2500 a year. And yes you think “oh that’s not that much” but that’s just one beverage. Think of everything else they spend money on that’s “just” x per month or y per year—can you not see that you can save real money that can then be invested?

At work, many colleagues come in every day with a venti Starbucks and get takeout for lunch. They can choose how they spend their money, but don’t pretend that wouldn’t add up to real money over the long run. I’m not saying go without absolutely everything, but normalize making your own coffee most days and packing your own lunch. Meeting people for a walk instead of brunch…it’s really okay to not have everything you want when you want it. Immediate gratification isn’t the secret to happiness. [/quote]

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