Things poor people say/do

>First quote doesn't deserve response because it's sheer ignorance.
i wouldn't say ignorance, he is british and the 401k is american. most brits won't know what it is. we have something similar, the ISA but it isn't totally comparable as it is just a tax-free limited size investment/saving scheme.

I meant the line about learning trades. Any cursory search on the subject will tell you the skilled trade shortage is real, and the mass vacancy of upcoming retirees will need to be filled somehow. And on Veeky Forums, it should be common knowledge that the more income streams you have, the better. Every 100k+ earner I personally know has at least one skill they can make money with on their own terms, or have a hobby they can profit from.

>I dont get my daily news from ScandinaviaBrah's blog

Made 23% (before taxes) this week from the blog

Post link please

> I have a Traditional 401k instead of a Roth

Sure you mean Traditional IRA.

Traditional IRA allows you to pull money out at any given time for 60 days. For example, I need the amount that's in my TIRA in order to invest in an up-coming project that will give me a 30% return. You're unable to do that with a Roth and you will receive a tax break on an TIRA.

It's like you're bashing someone using OSx while you use Windows - it's all about personal preference.

> Credit cards are a scam, you just need a checking account and a debit card

On a lot of debit cards you can get cash back or use the service through your bank to order things online in turn for cash back. But over all, credit cards are good for cash back.

> I don't need a degree, I'm just going to learn a trade

Trades right now are actually in high demand.

> I'm just living with my parents until I can afford a house

Not sure what's wrong with this, especially in this day-in-age.

> It's better to keep buying $3k-$7k cars when they break down than it is to buy a newer one

With the amount, you'd be able to get a long-lasting used car with low mileage and with little maintenance. Newer cars you'll be getting grounded with full-coverage insurance and depending on who you are - a high interest rate.

I'm currently financing a car at 3% and I don't like my $100 month insurance with my $272 car-payment. I could easily get a used Vic for $4k, $35 insurance, and no car payment.

You're stupid to believe new cars are superior to used when factoring in finances.

>> I have a Traditional 401k instead of a Roth
I've worked in 401ks and other retirement plans for 14 years, so I've got a bit of a beef with this one. First of all, it's the plan sponsor (the employer) that decides whether Roth is even available in the plan. Second, most of the highly compensated employees I see in nondiscrimination testing choose traditional deferrals when they do have the choice. Getting an immediate tax break is more important than long term for a lot of the richest because they don't even get distributions until they have to at age 70.5. The percentage of these choosing traditional goes nearly to 100 as they close in on the 401a17 compensation limit. Finally, having a diverse base of different types of tax advantaged accounts is another way to lessen risk just like diversifying your investments.

I do agree Roth is probably the better choice for most younger members of the workforce, but hate blanket statements such as yours.

>Moral advocate
Are you going to return on the investments your parents made in you?
Dont forget the sacrifices they made for you user.

>Trades right now are actually in high demand.
First off, do you always buy when things are in high demand?

Secondly, there are hidden costs to working in most trades, like a lack of upward mobility, lack of versatility, and wear and tear on the worker's own body. Some men are surgeons well past senior citizen status. Not so much pipefitters and electricians.

>You're stupid to believe new cars are superior to used when factoring in finances.
You also have to factor in time and money lost when a beater car malfunctions. This is part of the cost of ownership. If I buy a 2-year old Corolla and it never gives me any trouble for the five years I hold it, that cost of ownership is pretty low, not to mention that a Crown Vic drinks a fuckton more fuel than a newish Corolla.

>im an entrepreneur !!!
>my internet website/youtuber/kickstarter idea would totaly work user
>work in college ? just have fun user you don't need to work now
>i don't need to leave my parants house even tho i can afford it if i wageslaved, why waste alot of money on rent xD
>i NEED to buy the latest iPhone 6s for 600$ or else how i can facetime with my friends and take selfies :(
>i want to get married and have 4 children because the sitcome i saw told me thats how normal looks like :)
>also i don't want a prenub because i love my wife and her son

how those fucker gonna survive after they finish college is beyond me

>you will never have sex
>you will be alone forever
>you will never be a fucking man

getting your own place and calling it home is the best feeling a man can hope for

I have a mobile phone repair business. The amount of people who are on welfare with expensive 700$ phones is unbelievable. They can't save 500 a year but they do have the latest smartphones. baka conspicious consumption is a cancer

how much you charge them ?

ITT: Unhappy lardies complain about normies

iPhones have 50-70$ on top of the cost a replacement screen. It takes about 20-30 minutes to repair an iPhone. That covers employement and other costs.

So what's the advantage of getting a credit card exactly?

Cash back

good .. bleed those fucker dry, they deserve it

>t. Tradeslave trying to justify paying rent.
Only reason moving out is for work abroad

where I live, I have that with my debit card

The only time I need to use a credit card is when I'm booking accommodation or flights in another country or I need to buy some shit from some random chink website

I had wellfare customers who had 5 iPhones, all broken. Every member of the family had one, the 7, 8 and 9 year old, ... I bet even the dog had one. They were working but in shit jobs (cleaning or something). They probably worked 3 weeks of their life to buy a shitty phone they were going to break half a year later.

>he thinks he needs his own place to get bitches

Cmon son. Step your game up.

To be fair lad they most likely stole those phones or paid for it with drug money. You really can't afford that many iPhones on welfare checks alone.

>never rent, always buy your house
>paying down your mortgage is like paying yourself while renting is paying to someone

Fucking delusional idiots

Parents have absolutely no savings because they spent every penny raising my siblings and I because they weren't prepared to have children.

If my siblings and I fail that means my parents fail in the long term as well. They don't do this out of the kindness of their heart, they don't want to throw me on the streets and risk losing a portion of their retirement.

>never rent

I don't see a problem with this, I prefer ownership to borrowing.

you have to take into consideration the opportunity cost of not being able to invest the deposit elsewhere (at a higher rate of return), also taxes and fees. Buying houses can seem like a dream in a good market where the price doubles every 7 years, but if the market crashes you're stuck with a huge liability. Houses are among the least liquid assets

it aint about the bitchs ,, you can fuck any hooker on the street,its about your fucking dignity as man and your own selfworth

since the dawn of mankind a man does 3 things:

1- go hunt and get food (Getting a job in today standered)
2- build his hut or live in a cave (mortgage or rent)
3- fuck his wife after having a nice meal (porn/gf/wife)

you will never learn how to fly if you never left the nest user

>I have a Traditional 401k instead of a Roth
Is the argument here that you can't withdraw your money before retiring? If so, that's a pretty weak one since it's tax-free money. I agree that if that's your ONLY investment then you have pretty average life goals, but if you mean it's stupid to have in general I'd like to hear the reasoning.

>I don't need a degree, I'm just going to learn a trade
I can't see the logic in this. When it comes to acquiring the capital to start your own ventures, I don't see a college degree being the best option. Most people I know with degrees hover between the 40-80k range. That's not that much different from most trades in America if I'm not mistaken. And with a trade you're also not 20k-100k in debt and are likely making money WHILE in school. Any scholarships that will actually cover more than a semester's worth of books are limited and only go to the best and brightest which excludes, by definition, the majority of people.

>I'm just living with my parents until I can afford a house.
If you don't have money to start off, I see no problems with this. That said, I live on my own.

Agree with the other two though.

Do you know what renting costs in yuropoor? You almost pay as much rent as mortgage here.

You can afford it if you don't spend more than you have in cash. In fact you'll wind up saving money since you'll get 1-2% back on all your purchases. Now granted if you're only spending ~500 dollars a month that's not much, but it's still better than nothing, no?

>2- build his hut or live in a cave (mortgage or rent)
But people did this communally. You didn't just run away from your family and build a hut in the middle of nowhere because you're a special snowflake.

>1- go hunt and get food (Getting a job in today standered)
People did that as teams, not with one caveman making the others hunt and give him most of the meat.

>I do agree Roth is probably the better choice for most younger members of the workforce

Why do you say this? I'm about to be 23 and have been working for a year and have the option to place my money in a Roth but have been using the 401k option.

>Wants me to lose out on money because he follows the habitual behavior of cave people

I think it's funny how at the end of everything the goal is nothing tangible. I'm certainly not going to live paycheck to paycheck like every other poorfag just to put on a facade of manhood. That's the stupidest shit I've ever heard.

> Nocoiners on suicide watch
> X is a scam.
> I don't have any credit
> Senpai

Aside from mobility, assuming you buy a house in your price range and in an area where housing prices aren't going to devalue in a couple years, what argument is the for renting? If I got a 100-150k house I'd be paying a little less than I pay now in rent and utilities just in mortgage payment and utilities (with property taxes and water/sewage and garbage factored in as well).

The only real negative I can see is that repairs to the house come out of your pocket, but that's largely offset by the return on your investment when you sell the house, no?

> needing a degree

This board is garbage.

>what argument is the for renting?
for me the main argument is buying a house and renting it out would not be profitable. so that means renting is profitable.
also the risks of ownership. anything can happen that renders your home worthless overnight, if you rent you just move and the landlord gets fucked if you own you get fucked.

> those people who say they are an entrepreneur because either a) they are an idea guy b) they sell stuff on etsy

2- then get a house near your parants no one told you to go to the desert

1- then make your own startup, no one telling you not to go and hunt , but keep fucking hunting and dont leach over your dads and mom hunt like a fucking child

>whats a metaphor

i really hope your parants get angry and kick you out, then you will realize living paycheck to paycheck and saving untill you had enough and open your own business is better then living with your parants as a disgraced manchild who is "saving money" while in fact you save nothing

> aside from mobility
This is a much more important benefit that I don't you give enough credit to.

> area where houses won't devalue
> 100k
Where do you live?
Where I'm from you could barely afford to live in run down neighborhoods that would be hard to re sell at that price point.

All good points. I've been interested in just buying a small house and living below my means but it's seeming more and more that renting is the better way to go.

There is always a charge on using a credit card.
either a standard payment or a % of what you are buying.
Explain to me why I should pay and extra £3 for a meal using a credit card, when I could pay with debit card and not pay £3 more.

So why have a credit card if you are rich?

What if I'm set to inherit my parent's house after they pass away and live with them until they kick the bucket? My parents seem to want me to stay and take care of them in old age with my fiancé and in exchange I get everything from them when they pass away.

You're just set to become a poorfag of pride is more important to you than assets you get like inheritance.

Even though the cost you put into a new car is about 3k a year, that's enough for any repairs needed on the used car. Shet, that's enough for a new engine or transmission each year.

>anything can happen that renders your home worthless overnight
>anything

cant argue with that logic

anything can happen to anything at anytime rendering it worthless

yes, yes it can.. lmfao

Wait, you think they'll automatically slap a $3 fee on the consumers end when you use a credit card?

I don't know how credit cards work out in the UK, but in America, I'll use a card like my Citi Double Cash and get 2% cash back on any and all purchases I make on it. I'll also get 5% cash back when I pay my parents $500 cable, cell phone, and internet bill (that they cut me a check for) when I use my Chase Ink Cash card, which adds up to a decent amount of cash back by itself

I then pay off the bills in full every month so I don't accumulate any interest, people always ask me about the interest rates on my cards, but I honestly don't know because I don't ever accumulate interest and don't ever plan to

>There is always a charge on using a credit card.
What? Is it really that fucked up in Bongland? Here in the US, most credit-cards have no fees attached. Some do, but you're an idiot to take it if you're not wealthy enough that the rewards wind up outweighing the fees. Most credit-cards have no annual fees and only "charge extra" if you don't pay off the card at the end of the month when your statement comes. Most cards have 1-2% and some store cards will go up to 5%.

That said, I've seen some VENUES that charge an extra 3% if you use card, but they're usually places where prices are low and using cash isn't a problem.

This guy's spot on. Card I use for everyday expenses has some outrageous 20% interest rate on it since I got it straight out of college. Doesn't really matter since I get 2% back every month and don't rack up more than I have in cash.

Lol these aren't the things actual poor people say. This is what ACTUAL poorcucks say:

>Upper-class user here

>Made 200k last year

>I own a yacht

>I used to work for Goldman Sachs, BlackRock, and other top P/E firms before starting my own hedgefund

>I grew up Zurich, lived in Paris, currently in London near Buckingham Palace

>Anyone who doesn't earn 6fig per month is a poorcuck.

>Currently managing three portfolios, drive a mercedes, and dating a model.

^These are all things or versions of things I have seen poor people write on Veeky Forums over the last year. Theres more but I can't remember atm.

>it's all about personal preference
And some preferences are better than others.

>do you always buy when things are in high demand?
Thanks for the laugh.

Finance and economics should be required learning from grade 1. It's even worse now that physical cash is becoming more and more rare. I like this tedx on the topic youtube.com/watch?v=_VB39Jo8mAQ

None of your or the rest of the trolls' moral lashings are going to change the math; that instantly marks you as the loser of an argument. Comparing 2016man to a caveman shows the real lack of dignity.

You're not thinking long term and not considering opportunity cost, which is as much a life principle as an economic one. Those two are the biggest drainers of money on earth.

Long version: en.wikipedia.org/wiki/Opportunity_cost en.wikipedia.org/wiki/Time_value_of_money

Short version: you're not paying 3 extra, you're only paying 3. That leaves the cash you would have spent open for use on other (gainful) things, leaving you with a smaller loss at the end.

Say you start with $100. You spend $30 on the meal now and end up with $70—a $30 loss, the debit result. Intead, you can use credit, spend that $30 on something that will give you $40 (godlike returns, but bear with me), then pay the $33 debt when the bill comes. This leaves you with $77—a $23 loss instead, all thanks to credit.

If they're tacking you for each individual purchase, that's just a shitty card that needs to be dropped. Any decent card will give you a bit of cash back; "only" a few bucks, but the above example shows how meaningful those few bucks really are. This mindset applies to all sorts of situations and is some of the key foundations of handling money. But it's just a preference.

It's actually bad to pay off the card in full. You only gain credit score by keeping a smallish debt there. Spreading it out across multiple cards is the optimal way to do it.

Isn't your score calculated via the credit card statement though or am I retarded?

If so, paying it off in full after your statement's been released for that month isn't really a bad idea.

are you retarded or something

It's a matter of faith about tax rate now vs the future. If you're making less now than when you take withdrawals from your retirement plan, or you think tax rates will go up across the board anyways (assuming Roth benefit isn't just thrown away) you'll benefit more from tax free growth/withdrawals.

I shouldn't say ONLY, but yes, retarded.
Credit-worthiness is a proof of your ability to make repeated payments on a debt. No debt, no proof.
Actually, google says "An assessment of the likelihood that a borrower will default on his or her debt obligations. It is based upon factors, such as his/her history of repayment and credit score." The credit system is designed to handle people who can't pay. The rich subsidise those who default, and when they offer a payout or take you to court and seize assets, that's 100% profit for them. Hence "predatory loans" and the housing "crisis." (It doesn't work when nobody can pay.)

> I don't need a degree, I'm just going to learn a trade

I know a doctor.

He wishes he had done HVAC instead and went on to own an HVAC company.

The money a good HVAC company owner can make is fucking unreal.

Like $500,000 - $1,000,000 a year.

This isn't true

Ok you're wrong, but I used to be confused about this too

So what happens is my 4 credit cards all have statement dates every month. On those dates my credit card companies will send me credit card statements with the current balance and minimum payment due along with the itemized credit card activity for the month. The credit card companies will also report my current credit card balances for each card every month to the credit bureaus, and they'll use it to calculate my credit score which can change all of the time

After I get my statements, I'll have a 30 day grace period to pay at least the minimum payment, after 30 days, if I still have a balance on my card they'll slap a 20% interest on whatever the balance is then

But if I pay off the entire balance, I accumulate no interest, gain money because of the cash back, and have a good credit score because the credit bureaus see that I have balances and activity on my cards and pay them off

Stoozing with 0% interest free periods look it up on money saving expert (Uk)

> It's better to keep buying $3k-$7k cars when they break down than it is to buy a newer one

I thought this was things poor people say and not retards.

I bought a car for 600$ and it's lasted me 4 years already, only paid for new tires and oil changes. Just learn how to look for cars.

> I'm just living with my parents until I can afford a house

>moving out and wasting thousands on expenses is a good thing

>I save X% of my paycheck every month.
>I live in the surburbs and drive 1 hour to work every day.
>credit cards? No thanks. Debt is evil.
>I use Verizon because they give me a free phone every two years.
>I just bought my wife's son an epic gaming rig at Best Buy. They even set it up with Geek Squad for only $100!

Always exceptions, my man.

I'm an Elevator Constructor in a large city. Most Journeyman in Construction these days make $150k+, Foreman = $200k+ (take home truck, parking on the company. add a couple grand to that 200 figure too)

I've heard of men on service routes pulling in $300k+ (on call 24/7 and probably worked every single day).

And most men work in the trades well in their 60's -at least the one I'm in. Why?

A) Just like most things in life when you are an expert in your field and have done it for 30 years there's a ton of perks -no BS, walk away and go work for someone else if you don't like boss/etc, not lifting heavy shit all day

B) To get the fuck away from their wifes.

I have an exit plan, however. Stacking away as much cash as I can and hope to punch out in my early 50's. Most guys in the trades are bad with asset allocation, but I like to come here and other places to learn about this stuff.

>20%
Goddamn that's high. 13-14 is what I usually see.
So paying in full after getting statements doesn't hurt utilization ratio? I'll have to try that for a bit. Thanks for the tip.

Yep just pay off the entire bill immediately after you get the statement, you won't pay any interest and you'll make money with the cashback if that's the type of card you have

Also I just checked, all but one of my cards currently have 0% interest promotional periods (that I ignore), but when those end, my interest rates will be 16.49%, 19.99%, 21.24%, and 23.24%

Rewards cards usually have higher interest rates, it also doesn't help that I'm young and I don't have much credit history, so they can attempt to screw me for that by slapping high interest rates on my cards

Ah, that explains it. 20% and up is usually what you get for cash advances (which no one should ever do).
Mine range from 10.49% to 21.49%, with 25.24% on advances, but you probably have better rewards.

>Cash back deals and you can leave your money in your savings acquiring interest (Mines calculated daily)

Things rich people say/do/believe

Tell me what do rich people say, do and believe?

Holy shit learn how to write you illiterate fuck

>savings account
>acquiring interest
good goyim

This whole thread is just an individual's perspective. Like really, almost 75% of you in here are living in a wealthy environment. Talking about America, you are probably right, but reflection upon third world countries, you're posts are mostly likely limited.

It doesnt matter how much money you make a credit card is always more beneficial than a debit card. Most people are just retards and buy things they dont have the money for in the first place.

My card is 28% but I could have a 200% interest rate and it wouldnt fucking matter as long as you pay your monthly balance on time.
Reminds me of when i hear people talk on the radio about how bad credit cards are and im just
>stfu you stupid bitch you have no idea wtf you're talking about.

I'm 42 and have never paid a dime of interest on a credit card my whole life. I stay free in hotels and fly all over the world on points from credit cards - fuck you poorfags that maintain a balance on your visa. You are being fucked in the ass and you are making a minimum monthly payment while doing it.

usually it is a merchant fee charged from the CC company to the establishment. if you go for a meal, the restaurant have included the merchant fee in their pricing, just like every other cost. it shouldn't be added on top, although that does happen on some online vendors and also with AmEx as their merchant fee is much higher.
If you pay with a Debit Card, their is still a fee charged to the merchant from the bank, but this is usually a fixed monthly line rental for the card-console rather than a transaction fee so it would impossible to say what the cost per transaction is.

They don't post images like that I'm pretty sure

>> Credit cards are a scam, you just need a checking account and a debit card
they are a scam you fucking kike.

I save 2% with a credit card vs debit card
That adds up over time.
Stay plebeian.

This Sorry yes it's a merchant fee.
But some or most places I phone up or use my debit card always ask "are you paying with credit or debit, there's a £2 charge if using credit" or a % of the payment.
Yes it is that fucked up in the UK.
But yes there are cards where you get cash back and rewards.

I don't fully understand your last sentence. But I have never been charger or had any hidden charge on a debit transaction.

Also if you take money out from an ATM with a credit card they charge you 2%.

Country are you in? Guess it aint the UK.

There is always a group of people in my town every weekend trying to get you to sign up for credit cards usualy with stupidly high intrest, like 39%
I agree to sometimes, then when they have sold it to me after 10 minutes of talking shit, they ask for my details, they get everything, until they ask for my home number, which I never give out, "sorry sir we can't compete this without a home number"
"oh well" and walk off.
They are a scam for poor people I agree with that.
They might be good for better of people in the black.
Can I have a balance of £25 on a credit card?

A single with an income of 1k a month is hardly what I'd consider poor. Probably because I'm rather happy and don't plan on marrying, having a partner or getting children.

Not saying that plan cannot change, but I'm happy for now.

Agree.. I always pay my card off before the end of the month and my score is over 815

>You almost pay as much rent as mortgage here.
exactly and you have to spend on your home as much as the price again in 20 years
so if you rent you pay only half as much and you get no equity.
so renting is not superior and not inferior unless the price moves from the ratio. but ownership is more risky than renting that one is for sure.

renting is one of the most retarded things you can do famelam. Only reason not to buy is if you are only staying for less than 4 years and even then you might just rent the house out when you leave.

I live with my parents and pay £100 a week. UK.
They do not have a mortgage.
Last I looked at my farther account it had £427,443 in it, my mothers (shows up on website because shared account) £19,300.

>I have a Traditional 401k instead of a Roth
Why not both?

I'd be crazy not to take advantage of a 100% return from employer matching.

>It's better to keep buying $3k-$7k cars when they break down than it is to buy a newer one
Nah, you never know when that car is going to cost you thousands to keep safely on the road.

I'm done with that, and I lease now.

I know exactly what I pay every single month, and pretty much every single thing is covered between warranties and full comprehensive insurance.

No surprise costs, and I get to drive luxury cars for a much cheaper monthly payment.

I'll never own a car without a full warranty again.

>Only reason moving out is for work abroad
Unless you consider another city in your country 'abroad', this is simply stupid.

My parents life in a small town where there is few tech jobs.

It'd be a disservice to my career to try to build it there, so I moved to a reasonably close metro area.

>find cheap easy to fix cars
>fix and sell for a much higher price

being a mechanic is great, it's like 2 weeks of work for at least 1k profit

>A single with an income of 1k a month is hardly what I'd consider poor
That's very, very poor, depending on what country you're in.

In the US, that's simply not enough to get by unless you live in the most remote tiny market community.

>Out of your parents house at 19

Did you drop out of school at 13 to work in to coal mines as well, grandpa?

Women are the worst investment in the world