How do people not save a ton of money?

SpendaSpenda wrote:

Top 5 Ways to NOT Save Money:

5. Refuse to leave an area where you simply cannot afford to live. Sure SF is where it's happening, but if you work in a service industry you need to go to a low cost state or city.

Yet another rural elitist!

Not everyone has a family situation where your parents can support your food and shelter for a decade after you turn 18.

But still there is a lot of irresponsibility as far as saving. It is not that people can't save. They just choose to live in a way where they dont. Either by housing choices, food, cars, kids, etc. There should be no free lunch for people.

orhgwdahgepgiheg wrote:

It's becauase you are overpaid in America. Come to Europe and you will be earning a pittance and house prices are astronomical.

What's like a solidly good salary, and how much does a house cost?

Yeah the earning potential here is pretty nuts.

I'm making 130k/year, age 28, and moved back home because of covid.

robert678 wrote:

nobodywouldbelieve` wrote:

My wife and I made 300k last year collectively and have saved very little but that's what happens when you are paying straight up for two kids at the most expensive colleges in the country.

Controversial opinion: you shouldn't pay for your kids college. You need to teach financial discipline and independence. Paying for their college teaches them neither.

I don’t think this is very controversial. A lot of people follow this approach. That said, I have observed that is usually justification for either not being able to or just refusing to set aside adequate savings for ones children.

There are many ways to teach your children fiscal responsibility and independence than shackling them with debt.

Now buying your kid a house or continuing to provide an allowance in their 20s is another story entirely...

The concept of "spend less than you make" is confusing to people.

Moved out at 18. Parents made it pretty clear that the bird being me was kicked from the nest. I am 38 now between my wife and my income we collectively make mid 200k a year daughter does equine very expensive monthly income is 20k we usually have around 5k left over every month. Moving back home does not make you successful it makes it seem like you can't hake it on your own. No female respects what you are doing.

SayHiToYourParents4Me wrote:

Moved out at 18. Parents made it pretty clear that the bird being me was kicked from the nest. I am 38 now between my wife and my income we collectively make mid 200k a year daughter does equine very expensive monthly income is 20k we usually have around 5k left over every month. Moving back home does not make you successful it makes it seem like you can't hake it on your own. No female respects what you are doing.

Nah dude its only for the pandemic. No point to pay $2k/month to live in the city and sit around doing nothing.

What's your networth? Income is pretty high

chillin369 wrote:

SayHiToYourParents4Me wrote:

Moved out at 18. Parents made it pretty clear that the bird being me was kicked from the nest. I am 38 now between my wife and my income we collectively make mid 200k a year daughter does equine very expensive monthly income is 20k we usually have around 5k left over every month. Moving back home does not make you successful it makes it seem like you can't hake it on your own. No female respects what you are doing.

Nah dude its only for the pandemic. No point to pay $2k/month to live in the city and sit around doing nothing.

What's your networth? Income is pretty high

Have you ever considered that your former landlords will now be in dire straits now that you moved back in with your parents like a little child? No. Because you only think about yourself. Like a little child.

Little child.

* No house

* Used car or no car

* No kids

is Personal Finance on Easy Mode.

But society couldn't sustain if everybody did this because we need 2.1 kids per every male/female pair.

Net worth now is right around $625k

jamin wrote:

But society couldn't sustain if everybody did this because we need 2.1 kids per every male/female pair.

The cost of housing (and life in general) is rising and will keep rising. Either be rich enough to buy, or give 50%+ of your income to a landlord. As a consequence, many more young people are being forced to delay moving out and starting a family. Many will only be lucky enough to have everything sorted in time to have one child.

Tatar wrote:

jamin wrote:

But society couldn't sustain if everybody did this because we need 2.1 kids per every male/female pair.

The cost of housing (and life in general) is rising and will keep rising. Either be rich enough to buy, or give 50%+ of your income to a landlord. As a consequence, many more young people are being forced to delay moving out and starting a family. Many will only be lucky enough to have everything sorted in time to have one child.

Dude already said he moved out of the expensive city. So he has the choice in his career to live and work remotely. So instead of being an adult and choosing a suburb or another part of the state/country where his rent would be 10% of his total income or less, he decided to move back in with his parents to leech off their golden years. Class act.

Bryan,

Have you considered that people may want to spend time with their loved ones while they are largely self-isolating?

As far as I can tell this is not particularly absurd or abnormal...

highhoppingworm wrote:

Bryan,

Have you considered that people may want to spend time with their loved ones while they are largely self-isolating?

As far as I can tell this is not particularly absurd or abnormal...

OP will likely stay until his parents start setting him up with daughters of their friends or daughters of their co-workers.

highhoppingworm wrote:

Bryan,

Have you considered that people may want to spend time with their loved ones while they are largely self-isolating?

As far as I can tell this is not particularly absurd or abnormal...

This wasn't a thread about some guy who was heartwarmed about his parents inviting him back into their home to spend time with them in the midst of a pandemic.

It was a thread about a nearly 30 year old guy attempting to denigrate other's financial situations while living at home with his elderly parents like a little baby.

As far as I can tell from the response received this guy is particularly absurd and abnormal.

Having things is preferable to having money.

bryan evans wrote:

Tatar wrote:

The cost of housing (and life in general) is rising and will keep rising. Either be rich enough to buy, or give 50%+ of your income to a landlord. As a consequence, many more young people are being forced to delay moving out and starting a family. Many will only be lucky enough to have everything sorted in time to have one child.

Dude already said he moved out of the expensive city. So he has the choice in his career to live and work remotely. So instead of being an adult and choosing a suburb or another part of the state/country where his rent would be 10% of his total income or less, he decided to move back in with his parents to leech off their golden years. Class act.

Most work is in the cities. And yes, the opportunity to work remotely will mean it's possible to live further away, but housing costs will rise the most in suburbs in the coming years - it's just delaying it for Gen Z to deal with. And urban sprawl and the creation of endless suburbs will continue.

Have you considered that there may be multiple drivers behind a decision a person makes? In fact, if you can spend time with your loved ones and simultaneously save money would this not be a double word score in the game of life?

Hell, my wife and I are debating driving up to my in-laws for a few months so that we can have some help with childcare and spend time with our family. It isn’t financially motivated but would you impugn us for asking for help when we need it?

highhoppingworm wrote:

Have you considered that there may be multiple drivers behind a decision a person makes? In fact, if you can spend time with your loved ones and simultaneously save money would this not be a double word score in the game of life?

Hell, my wife and I are debating driving up to my in-laws for a few months so that we can have some help with childcare and spend time with our family. It isn’t financially motivated but would you impugn us for asking for help when we need it?

LOL. Because childcare is free right? Not financially motivated but will you be paying your in-laws market rate to raise your brood? GTFO.