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Cicero posted:I just moved back in with my parents to save money and I make plenty. But, I have a wife and kid, so we're pretty boring now and don't have to worry about impressing the opposite sex (also rent in Silicon Valley is incredibly expensive). I guess by some goons standards this would make us bad with money, but I'm more concerned with saving right now than lifestyle. I hear you, actually when you're older your parents are just normal people like you and it's not such a big deal. But around 20, you want out man, you want to play music loud all night and have your mates around and get blind, bring girls home, generally be a young man. I'm in Italy at the moment and they all stay home till 30. I'm not generalizing, they really do because of the lovely economy and the general family culture. It's pretty lame to be honest. I've been playing some computer games too, Cicero. Just as a bit of fun on the side but there is something very relaxing about it 
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Jan 25, 2014 20:58
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THE RED MENACE posted:Moving out would cost me at least $1k/month to live in west LA and that's a conservative estimate. I pay $800/month for a nice place in Culver City, it is possible to find a deal if you look around enough. Also, I value my privacy way too much to consider living with my family again, once I turned 18 I was out of there. Tony Montana posted:I hear you, actually when you're older your parents are just normal people like you and it's not such a big deal. But around 20, you want out man, you want to play music loud all night and have your mates around and get blind, bring girls home, generally be a young man. Exactly this.
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Jan 25, 2014 21:00
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We're selling our house and moving in with my wife's parents for 4-6 months. Granted it's only for a transition, but saving an extra $2500/mo is going to be great.
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Jan 25, 2014 21:10
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I'm glad I still live at home so that I can afford the payments on this sweet Porche 
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Jan 25, 2014 21:24
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Just dropped a bunch of junk off at a fairly grimy thrift store. A couple was shopping for clothes. She was wearing a full length fur coat and a fur hat. I followed them out and watched the load their haul into a shiny late model BMW. Not even necessarily saying they're bad with money. It was just a striking image.
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Jan 25, 2014 21:39
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corkskroo posted:Just dropped a bunch of junk off at a fairly grimy thrift store. A couple was shopping for clothes. She was wearing a full length fur coat and a fur hat. I followed them out and watched the load their haul into a shiny late model BMW. Shopping at a thrift store is actually being good with money, though.
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Jan 25, 2014 21:54
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FrozenVent posted:Shopping at a thrift store is actually being good with money, though. Yeah I threw that caveat in there. But it could also be that the credit card and car loan payments are killing them but they can't part with those clichéd signifies of wealth. Probably better to drive a used Honda, wear a wool hat, and be able to buy clothes that you don't have to boil for bedbugs. corkskroo fucked around with this message at 22:08 on Jan 25, 2014 |
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Jan 25, 2014 22:05
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Maybe they can afford nice poo poo because they shop at thrift stores. Who knows! The other night my husband's aunt was over and we were talking about her coat. It's a full-length beaver fur coat. "Shaved beaver" to be exact which I think is pretty funny. Anyway a coat like that would probably cost upwards of $500. Apparently she pulled it out of a dumpster, took it to a tailor, and just had them replace the old beat-up liner with a new one. So you know, just because you have nice stuff doesn't mean you broke the bank to get it. Sometimes you just find cool stuff in the trash! My husband is literally bad with money. He found a 1914 D penny last week and I told him "do not clean that with anything". So he takes it home and cleans it with acid. Found out that a pristine 1914 D Penny can be worth upwards of $3,000 in good condition and even in extremely poor condition they're worth a couple hundred. Until you destroy them with acid. razz fucked around with this message at 22:14 on Jan 25, 2014 |
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Jan 25, 2014 22:11
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Several of my relatives thought the "pay for our children's educations so they can support us when we retire" plan would be a great idea. One of my cousins, once confided in me after a few drinks that "That film degree turned out to be less lucrative then I thought", I was stunned. He works at Walmart now and failed to follow up with my dad when he offered to get him a $15/hr machine operator job in a city that cost about half as much to live in. I suspect he thinks staying in Chicago would be better for his film career than moving to northeast Wisconsin. Another cousin spent eight years in college and then dropped out without getting a degree when his parent's told him they couldn't/wouldn't keep paying. Turns out going to school for almost a decade and having nothing to show for it makes it extremely hard to get a job. I think he is now living with his parents after they dropped six figures for a degree that never materialized. I once had a coworker who couldn't get his head around the idea that "two-for-one" and "half off" are the same thing if you buy two items. He got very angry when no one in the breakroom would agree with him. CellarDweller fucked around with this message at 22:15 on Jan 25, 2014 |
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Jan 25, 2014 22:12
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FrozenVent posted:Shopping at a thrift store is actually being good with money, though. My girlfriend's mom shops at thrift stores. She spends hundreds to thousands of dollars per trip on things she doesn't need and stacks them in her house, unopened, to collect dust. Her husband makes drat good money, and he's just given up trying to stop her spending all of it on crap from thrift stores and Big Lots.
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Jan 25, 2014 22:16
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CellarDweller posted:I once had a coworker who couldn't get his head around the idea that "two-for-one" and "half off" are the same thing if you buy two items. He got very angry when no one in the breakroom would agree with him. Joseph A Banks' entire business model is based on people not understanding this.
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Jan 25, 2014 22:16
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corkskroo posted:Just dropped a bunch of junk off at a fairly grimy thrift store. A couple was shopping for clothes. She was wearing a full length fur coat and a fur hat. I followed them out and watched the load their haul into a shiny late model BMW. It's possible that they were there for reasons unrelated to their personal finances. Shopping at a thrift store can be kind of fun, since there's a lot of disparate things. You might find some vintage thing that you haven't seen in 20 years and think it's neat enough to just get. Alternately, if you need cheap clothes for crafts or Halloween or something, it can be a great place. Thrift shops can be neat 
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Jan 25, 2014 22:55
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Rotten Red Rod posted:My girlfriend's mom shops at thrift stores. She spends hundreds to thousands of dollars per trip on things she doesn't need and stacks them in her house, unopened, to collect dust. Her husband makes drat good money, and he's just given up trying to stop her spending all of it on crap from thrift stores and Big Lots.
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Jan 25, 2014 23:01
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razz posted:Maybe they can afford nice poo poo because they shop at thrift stores. Who knows! No amount of thrift store shopping will let someone who makes a modest income afford high-end luxury goods. Frugality will make you more comfortable in your circumstances, but it won't make you rich. The idea of the frugal rich guy who got to where he is because of good old fashioned financial sense is a myth in service of the idea that wealth equals virtue. corkskroo posted:Joseph A Banks' entire business model is based on people not understanding this. That, and "wow, what a discount! Clearly this item that is never sold at 'full price' must be worth 'full price'!"
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Jan 25, 2014 23:10
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CellarDweller posted:Another cousin spent eight years in college and then dropped out without getting a degree when his parent's told him they couldn't/wouldn't keep paying. This one blows my mind. 8 years and you drop out? That would be loving lame in Australia, where the education is kinda free but if this is the States with loans or just straight up paying for it.. what the gently caress, man. I can't imagine what his parents feel toward him now, how incredibly disappointed you'd be and angry.
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Jan 25, 2014 23:32
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A very good friend of mine is a bit of a miser, which can be "bad with money" in its own way, but he doesn't understand interest. He maxes out his RRSPs (401k for you yanks) every year, which is a good thing, but the way he does it is retarded. He takes out a loan from the bank via his line of credit to cover the RRSP in December, pays back what he can with his tax refund months later (anywhere from 1/2 to 3/4 of the loan), then covers the rest over the next few months. Doesn't sound like a terrible idea in practice, but the insanity lies in that he has more than enough liquid cash to cover the RRSP purchase. His reasoning for taking out the loan is "what if I need the cash for an emergency or my contract doesn't get renewed". That's what your line of credit is for you dolt! No amount reasoning will convince him that he's burning the interest on the loan for no reason when he could be paying for the RRSP outright and taking out a loan if he needs it later down the road.
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Jan 25, 2014 23:37
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Space Gopher posted:No amount of thrift store shopping will let someone who makes a modest income afford high-end luxury goods. Frugality will make you more comfortable in your circumstances, but it won't make you rich. The idea of the frugal rich guy who got to where he is because of good old fashioned financial sense is a myth in service of the idea that wealth equals virtue. Yeah, exactly. There are frugal millionaires that shop at thrift stores, but they don't also drive beemers and wear minks. Space Gopher posted:That, and "wow, what a discount! Clearly this item that is never sold at 'full price' must be worth 'full price'!" The listed prices are hilarious too. Sure, this sub-LL Bean coat is totally worth $900! This suit is $900, but it's about 70% off! The next week it'll be get two for $600, the next week it's buy one at full price, get two free! Repeat ad infinitum. Sad thing is the suits aren't terrible for the actual price. If they just priced them honestly they could be a respectable store instead of a bizarre joke.
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Jan 25, 2014 23:40
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Dillbag posted:A very good friend of mine is a bit of a miser, which can be "bad with money" in its own way, but he doesn't understand interest. He maxes out his RRSPs (401k for you yanks) every year, which is a good thing, but the way he does it is retarded. He takes out a loan from the bank via his line of credit to cover the RRSP in December, pays back what he can with his tax refund months later (anywhere from 1/2 to 3/4 of the loan), then covers the rest over the next few months. Doesn't sound like a terrible idea in practice, but the insanity lies in that he has more than enough liquid cash to cover the RRSP purchase. His reasoning for taking out the loan is "what if I need the cash for an emergency or my contract doesn't get renewed". That's what your line of credit is for you dolt! No amount reasoning will convince him that he's burning the interest on the loan for no reason when he could be paying for the RRSP outright and taking out a loan if he needs it later down the road.
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Jan 26, 2014 00:12
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CellarDweller posted:Another cousin spent eight years in college and then dropped out without getting a degree when his parent's told him they couldn't/wouldn't keep paying. Turns out going to school for almost a decade and having nothing to show for it makes it extremely hard to get a job. I think he is now living with his parents after they dropped six figures for a degree that never materialized. Is his name Buster Bluth?
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Jan 26, 2014 00:55
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Inudeku posted:Sure he can probably afford it but to choose a truck over a house/apartment , is being poo poo at money. Hey, I've got one on the buying a car/living at home topic! My 25 year old cousin lives at home, and he used to own a reliable Honda Civic. There were no issues with the car, and it was all he needed for work and play. Though I believe he did some souping up, as a young lad might do. I don't find sinking money into a depreciating asset all that exciting, but some people REALLY like cars so fair enough. Anyway, he decided to sell it in favour of buying a Honda Prelude. This car has never been driven in the winter, and he prizes it so much he refuses to drive it in the early spring, late fall, and winter. But he lives at home, so he can just drive his parent's vehicles during the cold months, and pay to have his Prelude stored in a heated garage for 5 months of the year. He's got 'er made! Rick Rickshaw fucked around with this message at 01:14 on Jan 26, 2014 |
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Jan 26, 2014 01:12
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If you are a professional and live at home for free that is just lame. Pay your parents some rent, utilities, and food.
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Jan 26, 2014 01:20
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Frankly, living in California in your twenties and not living with your family is probably being bad with money considering how ridiculous rents are compared to starting wages.
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Jan 26, 2014 01:22
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If you are young and single, living with your parents can be the kiss of death. I'm in the San Francisco bay area and it is depressing how many men I (briefly) date who are still living at home. Sorry, bro, no you can't spend every waking moment at my place plus every night. Most of these men could easily afford their own place, but social awkwardness, financial obsessiveness, and cultural/familial pressure end up with them leaving my independently financed apartment every night at 6pm to go home to have dinner with mom like we're goddamn teenagers. I also think living at home for too long has the unintended side effect of encouraging young people to shack up together very quickly and entangle their finances (since they aren't able/used to budgeting for life on their own), which while it isn't "bad with money" it is "bad at life."
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Jan 26, 2014 02:06
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FrozenVent posted:Shopping at a thrift store is actually being good with money, though. Agreed. I have a wealthy aunt who does almost all of her shopping at thrift stores. She dresses in very nice clothes; you would never guess they came from thrift stores. She and my uncle also drive old cars and they do it until they drive them into the ground. I've started buying as many of my kid toys as possible from thrift stores. So much cheaper.
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Jan 26, 2014 02:22
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100 HOGS AGREE posted:Hoarding is a hell of a mental illness. My mom is a hoarder. She would go to thrift shops a lot, and generally buy anything that was "a good deal" whether she needed it or could use it or not. When I left, things were pretty bad, but liveable. The last time I went back it was completely insane. I could date the layers of crap by food expiration dates and newspapers. There was no place to store anything or use or cook anything, there were tracks barely wide enough to walk through...by floor space about 95 percent of the house was taken up with unusable crap, and by volume it was probably a good 50%. The mold was unbearable (I'm allergic, apparently mom isn't). For the last decade or so she's been spending about 100 bucks a month on a storage unit, where she keeps my dead half sister's things, most of which she can't use and would be better given to someone who could; and which she'd also be able to store at home if she hadn't filled it up with treasure. After that, I don't buy much that I can't wear or eat. Trilineatus posted:I also think living at home for too long has the unintended side effect of encouraging young people to shack up together very quickly and entangle their finances (since they aren't able/used to budgeting for life on their own), which while it isn't "bad with money" it is "bad at life." It's your attitude toward people who live at home which causes that.
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Jan 26, 2014 02:22
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Trilineatus posted:I also think living at home for too long has the unintended side effect of encouraging young people to shack up together very quickly and entangle their finances (since they aren't able/used to budgeting for life on their own), which while it isn't "bad with money" it is "bad at life." This is dumb. Being married and having shared finances is bad at life. Come on. (Age is irrelevant)
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Jan 26, 2014 02:38
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I meant more that I know people who are in their early to mid twenties and instead of taking control of their financial lives and striking out on their own, they grab the nearest sexually attractive partner and do a double cannon ball. Sometimes this works out, but I have a lot of friends who divorced in their late twenties broke as hell as well. I have similar "not interested" opinions of both those who refuse to strike out even with all the resources to do so and those who want to shack up with me immediately, as I hope was illustrated in my post. Edit: I should also add that the "with all the resources to do so" is the key point here. I'm talking about 100k year software engineers or comparable living with their moms and bitching that I can't afford the bars they want to go to, all while trying to crash at my place every single night because SWEET SWEET FREEDOM combined with SAFE SAFE TOOK NO RISKS. Then again, maybe they have good retirement accounts and I should just let one move in? Tell me BFC! Mocking Bird fucked around with this message at 03:41 on Jan 26, 2014 |
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Jan 26, 2014 03:35
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corkskroo posted:. Some company (JC Penny maybe?) tried that and lost money despite having legitimately lower prices. Turns out most people would rather think they got a good deal than actually have a good deal.
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Jan 26, 2014 03:54
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I'm with you. I live in the same city as my parents and although it would be great to bank that money I find that living at home forces a certain amount of regression to child hood behaviour. And I would have a hard time dating some who had the means to live at home and didn't. So you can retire 1 year earlier, but at what cost, the independence of your twenties?
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Jan 26, 2014 03:57
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Trilineatus posted:
The fact that you, and other people, feel that way about the first group is why the second group are so desperate. The post-war US family dispersion is a cultural sickness that leads a lot more people to financial ruin than need to end up there. Sure, a lot of people have good reasons for leaving home...work, bad family relationships, things like that. But the cultural evaluation of anyone who DOESN'T as a failure is pretty messed up. It leads people who could live perfectly happy lives with their parents, and have both their own and their parents bank accounts be much fatter for it, and everyone in the family a lot more financially secure. (But it would be a decrease in consumption, so bad for the economy as a whole, and how are you going to support a housing bubble that way?) As for the "independence of your twenties," you can rent it. http://en.wikipedia.org/wiki/Love_hotel
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Jan 26, 2014 04:22
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I went out on friday night, and one of my buddies was talking about this great opportunity he had to make a bunch of money. He got to sell products for a company and if he recruited people, he got a cut of their pay. Yup, he almost got caught by a MLM company. Luckily he held off on paying their fees to ask me what I thought first, so I'm pretty sure I've talked him out of it. I might go to a meeting tomorrow night just to listen to their pitch.
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Jan 26, 2014 04:25
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ranbo das posted:I went out on friday night, and one of my buddies was talking about this great opportunity he had to make a bunch of money. He got to sell products for a company and if he recruited people, he got a cut of their pay. And loudly ask a few questions and cost them some rubes, I hope.
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Jan 26, 2014 04:30
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VideoTapir posted:The fact that you, and other people, feel that way about the first group is why the second group are so desperate. Further alienating those of us with dysfunctional families. A lot of people don't learn to act like adults until they finally move out. It goes both ways. Some people will grow better close to their families, some will grow better out on their own.
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Jan 26, 2014 04:32
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NancyPants posted:Further alienating those of us with dysfunctional families. Being against the "if you don't move out you're a failure" attitude isn't the same as saying "if you do you're an idiot."
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Jan 26, 2014 04:54
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VideoTapir posted:And loudly ask a few questions and cost them some rubes, I hope. That, and to see what kind of people actually fall for this type of thing. It's kinda morbid curiosity.
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Jan 26, 2014 05:02
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Pympede posted:I'm with you. I live in the same city as my parents and although it would be great to bank that money I find that living at home forces a certain amount of regression to child hood behaviour. 
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Jan 26, 2014 05:09
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VideoTapir posted:Being against the "if you don't move out you're a failure" attitude isn't the same as saying "if you do you're an idiot." Were you being hyperbolic in your use of the term "cultural sickness"?
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Jan 26, 2014 05:21
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NancyPants posted:Were you being hyperbolic in your use of the term "cultural sickness"?
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Jan 26, 2014 05:43
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I'm living at home after returning from completing a master's degree abroad. My city has a sub 1% vacancy rate. My parents' place is close to my work, so I save on gas, groceries, and rent, though I do pay them rent every month (about 1/4 of what it would cost to rent a place of my own). We aren't super close, but we do have a good relationship, and they're certainly not asking me home for dinner at 6pm every day. Obviously, I miss the freedom of living on my own, though I'm thankful for the opportunity to save +70% of my income, which is allowing me to get a start on saving an emergency fund, and aggressively pay down my student loans. Sure, there is a bit of a social stigma, but I feel it is pretty unwarranted. I don't find myself reverting to 'childhood' behaviours, and I think it would be foolish to pass up the chance to get a financial head start. As for the romance department, I'm only seeing one person at the moment, and she doesn't have any problem with my living situation. We gently caress, hangout, and do everything we'd do if I lived alone. Same goes when I'm over at her place, which she shares with a roommate. If a prospective partner had an issue with my decision to live at home, then I'd be equally "not interested." Everyone has different circumstances. Grouco fucked around with this message at 07:02 on Jan 26, 2014 |
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Jan 26, 2014 06:49
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corkskroo posted:
JC penny tried this and people bitched hard about losing their discounts, instead of just a low price. Edit, Jesus gently caress does this thread need every person who lives at home to chime in? If you want to live at home why do you give a poo poo what society thinks? There are plenty of valid and not so valid reasons to live at home. TLG James fucked around with this message at 08:31 on Jan 26, 2014 |
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