Why are people so generally bad with money?

>half of a bell curve is 50%
Gee you sure?

I personaly think working 1 year to pay for a car you like is acceptable.
By your standards, someone who makes 100k a year will never get a fast car, which is bullshit.

Huh maybe it's just different perspectives but I always thought that it's insane to spend a year of your life to buy something that could be bought for much much cheaper, and still be reliable.

Neurological willpower degradation due to the modern environment(advertisements everywhere, instant gratification, etc.). Look into the science of willpower if you're curious

we aren't taught anything about money in school and ads are about taking money away from you and muh lifestyle

>I don't think our economy would last very long if every first worlder woke up tomorrow and decided to pay off all their debt, live within their means, and only spend on necessities.

That's more a condemnation of the way our society is orientated than that type of living.

In the absence of credit you can only pay for things with what you've saved.

Look at the late 70s and early 80s for a period in which the cost of money was extremely expensive due to 20% interest rates.

Hey, if you want cheap, you are fine living off welfare.
Point of making big bucks is to stand out, unless you think building wealth for your future gens is crucial. They will blow through it like coke.

ever heard someone say ill do it tomorrow every day
same shit applies to debt, most people have no grasp on future consequences or just dont care, look at how many people protest for abortions
>I deserve to be liberated from the consequences of pregnancy because I clearly cannot afford contraceptives yet still want to fuck rawdog

Bullcrap. Why would I care about impressing someone other than myself? Fuck the car, Id rather have my hookers more regularly.

Nobody's forcing them to use all that credit for stupid things. Should everyone be deprived of all credit just because a lot of people might use it on dumb things?

Drive an alfa 4c and tell me it just exists to impress

Fucking normies..

>Point of making big bucks is to stand out

That is wrong, you nigger. The point of making big bucks is retiring early.

The point of making big bucks is to make BIGGER bucks you fucking plebeians.

/threaaadddd

>never had gainful employment so I'd never save gift money/income from odd jobs
>just spend it on whatever
>parents and friends constantly rip on me for being "lazy", "undisciplined"
>"dude lmao you're so bad with money bro!!!"
>get a real job, now have an incentive to save
>immediately start saving 80% of every paycheck
>"umm.. bro you have to enjoy life a little!!"

fucking normies man

Keep doing what you're doing now man.

In America, I think the issue is that "credit is good" is the thing everyone hears constantly.

>> Going into debt is fine
>> Take out a 250k 30 year mortgage that'll have you in debt for the rest of your life
>> take out 50k in student loan debts that'll force you to buy a mortgage with 3% down
>> Buy that car on credit, it's free money

There is literally no such thing as "good debt" period. It is the biggest lie Americans are told.

Why don't my parents believe this? I told them I'll stick with my shitbox and then buy a two year old sedan out of pocket and they looked at me like I was shooting heroin.

Maybe because they made that mistake or truly believe the only way to afford a house and car is to buy them on credit?

My parents made the same mistakes and tell me the same line of shit.

True my mom bought a new seven seat sedan or like $35k... I feel like younger people are more reluctant in just shitting away money on credit than their parents.

shit I meant SUV not sedan.

I think it has a lot to do with growing up in a recession caused by reckless uses of credit.

This is like asking a petrolhead why he spent a year's salary on an M5 when a Corolla does the exact same thing.

Find your interests and don't be afraid to spend money on them. If you enjoy hiking etc. then great but being a tight arse about money is one of the worst attributes imaginable. It's just a tool used to facilitate happiness and contentedness.

I agree with that. However, you need to balance your pursuits of happiness with financial responsibility. If I can't afford a 5k vacation, this year, I'm going to either save for it or just take a less expensive vacation. Not that hard.

>There is literally no such thing as "good debt" period.
There is. But only for buying investments and not consuming things. Real estate is often both.

The only way debt is good for investing is if you are a genius that knows the future of xyz investment. So no, debt is not good for investments

Real estate was only ever considered a unique and valuable asset for investment because the real estate market was artificially propped up with easy credit.

The only time debt is anywhere near 'good' is when you're a company or organization that needs to maintain a cashflow.

Debt is fine. What isn't good is not having a good grasp of your finances.

When the fuck has debt ever been good?

Tell me, in history, when debt was ever good for any individual? The standard is that it's not. The outlier may benefit greatly from some very quickly erased debt, but the standard is not good.

People are bad with money and make bad financial decisions, like going all in on bitcoins and SNAP. 90% of day traders lose the stock market game. They think hey can make a quick buck, but they can't.

You can buy a decent car for under $5k. You don't need to spend $40k+ if it's just for transportation to work.

> 90% of day traders lose the stock market game

That's pretty damn good compared to alot of other careers.

I'd bet more than 90% of people who try to learn programming fail, and I'm sure 99.9% of actors and musicians fail.

There is literally no one who has lost money by going all in on bitcoins if they have held. It's at an ATH senpai. Some have made millions.

Why do you keep posting this thread? And why cant you mind your own business?

First time I've posted this thread
>And why cant you mind your own business?
Did I strike a chord?

>People are bad with money and make bad financial decisions, like not buying bitcoins and Monero.
ftfy
Seriously normies aren't buying crypto. Yet.

Suggestions on where to look for decent sub 5k cars?

Lack of proper education in the public school system and at home.

As gay as this sounds, playing JRPG's growing up (back when they were relatively hard) instilled a great sense of fiscal conservancy and hard work to achieve my goals.

you're short on liquidity but are fully solvent

Craigslist.

see all companies startup process for examples

see mortgages allowing people to purchase homes in the 70s that were worth far more than they paid + interest in valuation by the time the mortgage was up

see leveraged trading allowing solvent entities with low liquid assets to take short term positions on margin without liquidating those assets

No one is saying that. We're just attempting to answer the op's question.

The answer is that credit is easier than ever, and most people don't understand how expensive debt is. When your entire life is lived month to month, the idea of saving something for later is not just foreign, it's other-worldly.

Agreed, but do consider that our times on this spaceball are limited. Your investments won't matter in death, so I can see why a lot of people have no qualms about living over their means. It is, however, still highly irresponsible.

>Look at the late 70s and early 80s for a period in which the cost of money was extremely expensive due to 20% interest rates.

The central bank hiked interest rates because there was 15% inflation due to the second oil crisis. The idea is to prevent runaway inflation because you believe society will just get rid of the dollar. How does that make the 1980s society any better when savers and non-savers get carrot and stick treatment by the central bank just like today?

I know right? It's embarrasing how stupid they are.
It's like how can you not do simple + - / * to figure out this shit. Also the compound interest on saving and the waste on loans.

Enjoy your rustbucket moneypit.

>100k/year is a high enough salary to purchase a """nice""" car

It will always be so fucking funny to me that middle class wagecucks think they can even compete in the game of wealth signalling.

>calls someone normie while defending one of the normie traits

They are right though

credit and cash is the same for politicians and stupid people

>when you buy real estate on debt its good investment
Not really.

>playing JRPG's growing up (back when they were relatively hard) instilled a great sense of fiscal conservancy and hard work to achieve my goals
Get a load of this autist

>implying expensive cars are any less of moneypits

don't give it to them unless they prove their worth. No inheritance for the prodigal son, wealth and estate for the son that can manage and grow the establishment

good debt is the debt you own that is getting returns. think about how banks make money by lending. then think about how they lose money by lending and you'll understand the difference between good and bad debt

Most people need to go hardcore into fiscal conservatism before they understand how to be financially responsible. Then they actually start making purchases based on what will achieve their goals. Whether it be retiring early or being so filthy rich that women line up to have them shit on their face.

Probably because most people have other things in life if they enjoy. Not me all I want to do is play Monopoly in real life. Fuck other people and fuck normies. Except the ones I rent to who don't ruin my shitboxes. They're ok

Prelude type s.

>But why the fuck can't people see that a $10k snowmobile is not a sound financial decision when you make $30k a year?
Does the enjoyment derived from the snowmobile justify the expense? Or, was it a stupid idea spontaneous purchase used once and never again transaction?

When I was 19 working part time for a few hundred dollars a week I bought a watch for $2,000. It's served me well for almost 15 years now and it's the only possession I've owned that I am still legit proud of even this long after the purchase.

These days I'd never again buy something so expensive if it isn't a necessity but hey... I needed my reckless younger self to enjoy some of my money.

You watchcucks are the worst. Guys wearing watches as status symbols grew up poor and take themselves too seriously.

Unemployment is real in our era.
Getting a work/upper income/raise is an achievement.
The more one struggle to achieve his goal the more he would recompense himself as a drawback.

You're a monumental idiot

I don't even understand why you're mad.

Watches are like gold chains for white people.

I bet he uses his phone to check the time like everyone else.

Was pretty good for me last night when I shorted ETH.

>There is literally no such thing as "good debt" period.
Nope.

>There is. But only for buying investments and not consuming things.
This!

He's right though. Debt as leverage is perfectly acceptable. It's the way pretty much any business is conducted. You take on debt for X% and use it to make a profit of X+Y% with it. You'll find next to no company which is debt-free, and indeed it would be a sign of mad management. The mere fact that corporate bonds are a huge market should tell you that obviously debt can be very good for investments.

Say you can invest 40k for 4% compound interest for 20 years. Or you could leverage the 40k up to 100k, buy a nice piece of real estate and have the rent go towards the mortgage for 20 years.
Even if the mortgage would eat up all the rent (which means you either have a shitty mortgage or shitty rent) and even if the property would not appreciate a single buck (also highly unlikely) at the end of the 20 years you'd have gotten a 100k property from your initial 40k investment.

If you compare that to 40k at 4% after the same time, you'd only have ~87.6k.

And that's a pretty tame example, with high APR on the alternative investment, no appreciation, low leverage, high mortgage payments and low risk.

Point is - not all debt is bad. Debt to buy consumer goods is bad. Very bad even. But debt to conduct investments can be awesome. Obviously depends on the terms and conditions of the debt and the investment, but you do not need to be a genious to achieve a higher yield than your interest payments on a loan take away.

>20 years mortgage
>b-but rent is higher than monthly payment! means its profitable!
>the property WILL appreciate
>It must appreciate...
>housing market crash is not possible at all
>at the end of the 20 years you'd have gotten a 100k property from your initial 40k investment
>minus interest, maintenance costs, manpower, taxes and inflation

>20 years mortgage
What about it? Like I stated, it's an extremely cautious assumption. Paying off a 60k mortgage on a 100k property should never take that long normally and wouldn't suck up all the rent. If anything that strengthens my point.

>the property WILL appreciate
>It must appreciate...
>housing market crash is not possible at all
Must suck to live in the US, huh?

>minus interest, maintenance costs, manpower, taxes and inflation
Manpower is the only thing relevant here and 13k profit for landlording for 20 years - yeah, a bit low but pretty alright for only putting 40k of your money on the line.
The other things just show you have zero clue what you're talking about. What interest? Rent covers the mortgage payments. What maintenance cost? Falls under utility, tenant pays that. What taxes? You deduct interest payments and write off the property - you'll hardly make a profit as long as you pay off the mortgage. And about inflation - yeah, because the 4% alternative investment magically evades inflation right? Real estate is about the most inflation-proof investment out there. Rent is indexed with CPI. The nominal value of the house itself also goes up as the currency devalues (even though I disregarded it to make an easily accessible point).

Money, like all good things, is an addiction. The degeneracy caused by money hurts me on the inside. Whenever I see people who somehow lack the ability to spend money just slightly smart makes me want to help them so much, but there's no way to help an addict unless they want to help themselves. People spend money to be happy, just like other addictions. It's honestly good for the economy and the US would probably be fucked without these people, but that's just what I think, that people are addicted to this lifestyle. Probably has something to do with culture, in America it's very common to have student loans and buy houses that will take you years to pay off.

The normie trait is thinking cars are status objects.
Non car normies like hooning and popping that tail out, knowhatimsayan? You normie

Enjoy your oldman yeas while your son secretly hopes you just die already and pass him the goodie goods.
The only good option is rasisng your kids without them knowing the full lenght of your net worth, while at the same time educating them.

Actually, middle class wage cucks have way more chance to stand out than rich fags in their containment residence areas and snob restaurants.

Here's your answer

>
entirely possible. I'm aware that my parents are wealthy because we go on vacation to europe and our house is worth ~3mil according to yahoo, but beyond that I couldn't know less