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57 Comments
- Mooseknuckle, on 10/12/2007, -3/+50Most of the stuff in that article was really no brainer (eg "Buy quality stocks", or "Don't carry a credit card balance") ... And a lot of the information had little to do with "saving money" ...
Did anyone else not find a shred of helpful tactics in there? Sure, 90% of americans dont save and have debt, but it's not because they don't know how to save, it's because they lack the willpower to do so.
This article should read:
Stop paying $200 for bluejeans, and $150 for nikes
Stop driving Big cars
Stop buying stpud ***** you dont need
Stop having so many ***** kids
Try thinking before you act
Dont rob people
Dont do drugs
Get a job
Quit smacking your wife around
etc
blah
blah
blah
- IEatHamburgers, on 10/12/2007, -11/+49Best investment ever:
1. Raise an army
2. Invade Texas
3. Sell all its oil to generate more money
4. Raise a bigger army
5. Invade Venezuela
6. Sell all its oil to generate more money
7. Raise an even bigger army
8. Invade Iran
9. Sell all its oil to generate more money
10. Raise an even bigger army
11. Invade Saudi Arabia
12. Sell all its oil to generate more money
13. Raise an even bigger army
14. Invade Russia
15. No need for more oil, world is ***** up by nuclear winter
16. Build huge-ass compound that will survive the complete and total elimination of life as we know it, and retire there - inactive, on 10/12/2007, -2/+14I see it every day. People trapped in crap jobs because they live paycheck to paycheck. No savings, no investments, leveraged up to their eyeballs. No backup career in case their day job goes south, no cash put away for emergencies. These days it's not unusual for people to have 10, 20K in credit card debt, plus they have a car note and sometimes a boat or 4 wheeler on top of that.
I'm working at a customer site and they hired this new good 'ol boy, right wing know-it-all tech manager who gave us the "this is the way it's going to be" talk yesterday. Everyone came out of that meeting terrified, except me. Saving money and paying off bills may seem boring or even funny, until you run into a situation like that. Some new butthole tries to throw their weight around. You'll find having 15 months salary in the bank to be quite liberating. Takes a lot of the fear out your working life. Things that panic the herd won't bother you. When a customer starts talking cutbacks, you start thinking about filming a documentary about hiking across New Zealand before finding a better paying contract in a pet friendly office. - xutopia, on 10/12/2007, -2/+13Don't screw up that marriage mate!
Women who can actually intimately work towards the couple's financial freedom are few!
I've gone out with a ton of chicks who cost me loads of money. When I met the one that actually saved me money ("Why not cook at home this time, it could be fun") I asked her to marry me... which she accepted.
Downside is that today I do all the cooking but my retirement savings already exceed 13k and I am only 27. Cheap wives rule!! - xalax, on 10/12/2007, -0/+8...and in only 16 easy steps
- bradx3, on 10/12/2007, -2/+951. Pound of pure. Easy street.
- noodlez, on 10/12/2007, -2/+9this article's aimed more at smarter people. here's one from me to average joe american:
1) Stop buying SUVs and Big Trucks
2) Stop using your credit card like its a magical free money machine and pay it off ASAP
3) Spend less than you earn
4) Invest a certain % of the money you earn (read the internets to find out how to do this) - inactive, on 10/12/2007, -0/+7Step 16 should come before step 14.
- darklox, on 10/12/2007, -4/+9You forgot a
Step x: ???
Step y: Profit!
in there somewhere - buryme, on 10/12/2007, -0/+4What is with this one?
Take advantage of the concierge
Book a room on the hotel's concierge floor. It'll cost $20 to $40 more than the same digs on another floor, but consider the freebies: drinks, hors d'oeuvres, dry cleaning, shoe shining and help with reservations.
No, instead I'll grab a Pepsi for $1 and invest the remaining $19 to $39... - OneZeroZeroOne, on 10/12/2007, -0/+4So true. One of the great things my mom taught me is to PAY YOURSELF FIRST.
That means at least 10% of EVERY paycheck goes in the bank and you leave it there unless you really NEED it. And once you don't need it anymore, you pay it back to yourself.
I was dumb and didn't listen to her until later in life. Looking back, if I had done this with every crap job I ever had when I was 15, I'd be swimming in $$$$. Really, the stupid ***** you spend money on NOW NOW NOW will be completely forgotten in 5 years. But you won't have forgotten how useful the money you wasted would have been when you NEED it for something really important like food, shelter, or security. - Bioshocker, on 10/12/2007, -1/+5I totally agree.
It's my firm belief that in the near/medium future, society will split into two classes - those who live their lives empowered by their savings, and those who live their lives enslaved to their debt repayments. - MrTea, on 10/12/2007, -0/+3This is an article that I wish my dad would've read a long time ago.
Currently, him and his family have ***** of credit card debt since him and his woman are hell-bent on "keeping up."
In addition, he drives a huge ass ford F-250 and she drives a Mitsubishi SUV with a navigation system (why? I don't know).
They are the worst examples of money-spenders IMO. - Jeebugorn, on 10/12/2007, -0/+3i can say that if someone wants to save money, the biggest drain on money that me and my wife had was eating out all the time. i forget what our estimate was but it was HIGH....like more than my wife's car payment high. then take that money you saved by not eating out all the time (still eat out once or twice a week) and pay off another bill, then take that money and pay off another bill....etc. we are slowing getting that started and hopefully we will be debt free by july 2008 (we have 2 cars to pay off, that's why its going to take that long).
- catterton, on 10/12/2007, -0/+3"All a gun does is focus an explosion in one direction. You have a class of young strong men and women, and they want to give their lives to something. Advertising has these people chasing cars and clothes they don't need. Generations have been working in jobs they hate, just so they can buy what they don't really need." ~Chuck Palahniuk, Fight Club, Chapter 19
- PirateFSM, on 10/12/2007, -0/+2But I really want that Zune...
Hey I've saved. I'm not breaking the bank or forfeiting my rent. I know people that have cars, Cable, a house...and work retail. I heard someone say, "I'm glad my cable isn't pulling out this month, because I can't afford it." THEN WHY GET IT?! You drive a car you can't afford with NYC Insurance rates, and you but anything you want... It just frustrates me because I care about these people, but they don't seem to care about themselves as much as I do.
What it is to be human. - inactive, on 10/12/2007, -1/+3How about:
Stop thinking you are going to get rich dealing drug, rapping, playing sports, writing novels, playing in a band, painting, taking pictures, selling real estate, Avon, Primerica, or inventing the Next Big Thing. Very few people actually make money doing those things, let alone get rich.
Go to school and actually learn something. - kicken18, on 10/12/2007, -3/+5Mate, thats so ***** true. If people stop being dun over by commercial BS and someone stood up and said
"Hey...Idiots...If your poor dont by levis, buy cheaper jeans that are actually made in the same factory, they just dont say Levis on it" so yeah some people really are jsut ***** with money. - Gregd, on 10/12/2007, -0/+1@coolhandluke
You are absolutely right. Sometimes ***** just doesn't work out the way that you planned. Despite having saved all your life, mutual funds here, CDs there, stock market everywhere, anything can happen to you at any point, that will put you right in the same boat as 90% of Americans. Just try coming out on the financial happy end of divorce. It just doesn't happen. ***** I got divorced almost 10 years ago and I'm still paying for it financially. - HMTKSteve, on 10/12/2007, -1/+2Mutual Funds are bad!
It lets other people use your money to control corporations.
You send them your money, along with the money sent from thousands of other folks... They take that money and buy voting shares in corporations. When the vote comes up they own a huge portion of the voting shares. They own these shares through borrowed money!
Don't buy mutual funds... - MysticSavage, on 10/12/2007, -1/+2The article forgot step 51 - marry into money.
- CoolHandLuke, on 10/12/2007, -1/+2One thing I found helpful in the article was the fact that T. Rowe Price will let you do a mutal fund for as little as $50.00. I've been looking for a mutual fund with a low starting balance and I plan on investigating this a little more.
Sometimes it's not about willpower. Sometimes you get dealt a bad hand in life and you have to eat some lemons before you make lemonade. - inactive, on 10/12/2007, -0/+1@HMTKSteve:
How about giving an alternative? - imnotquitesure, on 10/12/2007, -0/+1I was on track until we had our second child a few months ago. He was premature and spent several weeks in the NICU. Insurance only covers SOME of the expenses. I will be paying this off for awhile. I am still too young to have a nice cushion to cover this sort of stuff. Sometimes life just throws a curve and you can't do anything about it.
- inactive, on 10/12/2007, -0/+1Guess you didn't read the article:
"Monetize the spare bedroom
Start a business from your home, however small, and magically, expenses ranging from Internet access to plumbing repairs can become at least partly deductible. There are rules, of course: You have to use your home workspace exclusively for work, among other things. Print out Publication 587 from www.irs.gov for details. Just don't read it when you're tired. " - jmoorse, on 10/12/2007, -0/+1Contrary to what the article says:
If you live in the USA, per the The Fair Credit Reporting Act (FCRA), Credit Reports are FREE once a year! Not $45... - Equistatic, on 10/12/2007, -0/+151. If someone is getting on your nerves, give them a dollar to go away.
- Jeebugorn, on 10/12/2007, -0/+1"Downside is that today I do all the cooking"
ditto - EdwardsNH, on 10/12/2007, -0/+1Hey AlexApetrei
Are you thinking at all? You just said that if we weren't all in debt, we wouldn't be making so much money???
Seriously, all this debt is just making the rich richer. CEOs earning 400x what the average worker makes. That's 400x!
I'm all for capitolism, but c'mon people, we need to start teaching saving and investment in gramer school. - Darq1, on 10/12/2007, -0/+1Sooo...I can't buy a PS3?
- nickyolas, on 10/12/2007, -0/+1Ever try a thrift store? You can get designer jeans that are practically brand new for around $15 at a store like buffalo exchange.
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If everyone becomes a stingy bastard with comon sense, well the US wouldent be the US, and all the US clones would be even craper than they are.
This article was writen for the 10% of people that actualy do save money, so that they can be happy about what it is that they are doing " Look darling, CNN has the same oppinions as us on the money saving, isant that dandy ". The 90% that dont save money will not grasp this concept and probably dont even bother with reading these sorts of articles.
my £0.02 - tdogg241, on 10/12/2007, -3/+3Oil? Who said anything about oil? Bitch, you cookin?
- rockefeller, on 10/12/2007, -0/+0I have a theory about being on the ***** end of divorce.
Most of the time, the guy gets the shaft. And the reason for this, is so the government doesn't have to support all the women when couples get divorced.
Can you imagine how much of a load on the budget it would be? So, the government just made laws to put the burden on you.
I realize I may come across as a biget, but that's just how I see it. - rockefeller, on 10/12/2007, -0/+0I have a similar story. I was working for a pretty good company and the manager started being an ass with me. I pretty much called him on his cell phone while he was in a meeting and told him to come out, that it was an emergency. He came out of the meeting and I told him I was done. He asked me if I was sure, and I said yeah.
I went to my desk to get my ***** and leave, and one of my fellow employees was like "What are you gonna do?" and I was like "Oh, I don't know, probably take a vacation" and he just had a terrified look on his face. Three weeks later I found out that he got laid off.
But one thing I learned from that situation was that I should have went to HR and told them about my situation. When I was checking out after I quit, I told the HR lady my story and she told me that I should have went to her first, if a manager is being an ass they can do something about it.
Another thing...you won't get in this financial situation by saving 10% of your salary, you need to save something like 30-40%. You really have to live frugally, and everytime you go to make a purchase, ask yourself if you really need it, and is there someway I can accomplish the same task by spending less money. You have to do this with everything, even trivial things like lunch. You have to analyze your monthly expenses and find ways to reduce them....used car, basic cable, thrift store shopping, biking to work, ditch your cell phone, taking your lunch to work, sell the piles of ***** you have sitting in your closet that you don't use anymore. It goes on and on. - premiumo, on 10/11/2007, -0/+0i'd say real estate is probably a good investment even though 'experts' think real estate's going crash.... i've never known the price of land to go down. Sure there are sluggish times here and there, but over all...when you buy property and keep it up, the value will go up. In a hot market like this, the best type of property to buy is foreclosures since many people are going default on their loans....foreclosures can be a real bargain in today's hot market. http://investingforeclosures.com/ is a great site with informative articles on foreclosure investment if you want to learn more. I'm sure you can use google to find other great sites as well! Hope that helps!
- premiumo, on 10/11/2007, -0/+0Even though 'experts' think that the real estate market is going to burst, i feel that real estate is still a good investment. When have you ever heard of a property going down in value. Ask your grandma how much she paid for her house....then look up it's current....i'm sure it's worth some money today. If you buy a piece of land or a home and take good care of it, more than likely the value will increase with time.
Since it IS a seller's market (ie prices are high) the best bang for your buck these days are 'fixer uppers'....or foreclosures. A lot of home owners are going default on their loans, and so their homes are auctioned off at low prices. If i had the cash, I'd buy a little fixer upper...put some money into it, live in it for a couple of years, and then sell it. http://investingforeclosures.com/ is a great site that takes about basic foreclosure investing. I'm sure more great sites would come up if you Google it.
But remember, as with all investments, you should do your homework and seek the advice of a professional before committing your hard earned money and time! Just because one type of investment works for one person, doesn't mean it might work for you ;) - donna34, on 05/04/2008, -0/+0http://www.investmentsandincome.com/
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visit:- http://email-reading.blogspot.com/ - slantedone, on 05/07/2008, -0/+0all articles like this are written by captain obvious. there are 4 good real world examples of saving money the old fashion way (by making smart decisions) at http://www.wealthblocks.com. you then take the money from the smart decision to see how much it COULD be worth x years down the line. interesting.
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