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Post by Deleted on Jan 5, 2019 11:23:15 GMT -5
You forgot the part about "those people" taking all the jobs..... I know, right...because there is totally some white lady out there just dying to clean my house once a month.
And lets not forget the landscaping. White people are just beating down the doors here in Texas to provide landscaping services when it is 105 degrees in the summer A lot of the people who work for places like Merry Maids are indeed "white ladies." And if not white, then African-American. My lawn guy is African-American. His whole crew is African-American. The guy before him was Caucasian. He was a one-man show. There is an active Hispanic community in our area so that's not it. Yes, some of them do the jobs you describe. They also work at retail, restaurants, etc. As do Caucasians and African-Americans. Unskilled labor crosses color lines. I think there's more competition than you realize. But undocumented workers often let themselves be taken advantage of, which simply makes them cheaper to hire. Win/win for the contractor and homeowner. Right? (In case you don't recognize sarcasm, the answer is "Wrong.") I know you guys are trying to combat stereotypes, but stereotyping yourself isn't exactly the way to do it.
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nidena
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Post by nidena on Jan 5, 2019 11:49:19 GMT -5
I will buck the trend and say it's ridiculous to have personal finance as a high school class. Maybe one week or something but honestly it's not like there is a lot to learn. Spend less than you earn Checking acct Save for retirement Stock market Compound interest can wreck you or make you rich You can cover it all in an hour probably. Most people know what they should do. All the info is free on the internet. It's like expecting a hs nutrition class is going to solve middle life obesity problems. When you start from no information about this topic, one hour will NOT cover what there is to know. One hour is a familiarization course not the How-To. There's a reason that Financial Peace University is many weeks in length: Because the information needs to be given, then used in exercises, then chewed on and digested, then implemented. Believe me, if it takes a couple weeks to learn a 2 x b 2 = c 2, it'll take more than hour to learn the other stuff.
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NomoreDramaQ1015
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Post by NomoreDramaQ1015 on Jan 5, 2019 12:01:03 GMT -5
Not that I am a huge fan of David Ramsey or his kind but to be fair to them YM is HIGHLY math oriented, likely more math oriented that your average American. Ramsey and others who do what they do focus on the PERSONAL side of personal finance. They are all very well schooled in psychology and sociology.
All human brains are programmed to like rewards and instant gratification. Paying off the lowest balance card gives an immediate visible reward and primes your brain to want to keep going. They are focused on behavior first with the math coming later. Their programs are designed for the middle of the bell curve in order to attract the most followers. And if we are being honest most people in the middle are not going to be Phil no matter how many spreadsheets you put in front of them or how many times you lecture them over good and bad debt. "Debt = bad" is a sound strategy for most of the audience.
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TheOtherMe
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Post by TheOtherMe on Jan 5, 2019 12:05:01 GMT -5
I will buck the trend and say it's ridiculous to have personal finance as a high school class. Maybe one week or something but honestly it's not like there is a lot to learn. Spend less than you earn Checking acct Save for retirement Stock market Compound interest can wreck you or make you rich You can cover it all in an hour probably. Most people know what they should do. All the info is free on the internet. It's like expecting a hs nutrition class is going to solve middle life obesity problems. When you start from no information about this topic, one hour will NOT cover what there is to know. One hour is a familiarization course not the How-To. There's a reason that Financial Peace University is many weeks in length: Because the information needs to be given, then used in exercises, then chewed on and digested, then implemented. Believe me, if it takes a couple weeks to learn a 2 x b 2 = c 2, it'll take more than hour to learn the other stuff. times about 1000 You might jam information down people's throats but that does not mean anything was learned.
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andi9899
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Post by andi9899 on Jan 5, 2019 12:06:34 GMT -5
In our early year, my wife and I lived paycheck to paycheck,,, Kids and necessities ate up all the money. When the kids left, necessary items were bought and paid for, suddenly there was all kind of money!! Hmmmm, now that several years have past, with money in the bank, it is easy to be Holier than thou,, kinda forgetting the pain when there was no money!! now de cussing this brings back one of the memories of the the 15 minutes in my life that I was discouraged, and depressed! It was Christmas Eve, dropped off a friend, headed for home, I was driving a borrowed 1969 Nash Rambler, the gas gauge did not work, ran out of gas! no money what so ever. I was desperate to get home with my family for Christmas Eve, I walked 3 miles back to my friends place, he didn't have any money either,, but there was a small Christmas party going on. A stranger there gave me $10 , took me to a gas station bought me some gas took me to the car, so I could get home...
This is where I am now. Lived paycheck to paycheck while the kids were at home. Now that they've moved out, I'm in serious debt repayment/saving mode.
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Post by Deleted on Jan 5, 2019 12:16:12 GMT -5
There is a personal finance unit embedded in the required semester of economics at our high school. They learn how to write a check, balance a checkbook, etc.
They also do a "life project" in which they are assigned a job with an appropriate starting salary. Those include low-skill, low-paying jobs as well as entry-level accountants, nurses, etc. They have to come up with a monthly budget, make a meal plan and go grocery shopping (a manager has to sign off on the figures they come up with), etc. They have to buy an article of clothing, a gift, and a few other specific things as part of that month's budget.
It isn't Dave Ramsey, but it helps them understand how hard it is to actually live on minimum wage.
In typing this, I wonder if they have to pay student loans if they are assigned a job that required college. I am going to suggest that to one of the teachers. These are seniors so they need to be thinking about how they are going to pay back these $$$ that they are borrowing.
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tractor
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Post by tractor on Jan 5, 2019 12:20:40 GMT -5
This is just my personal experience but I think a lot of these people could be helped out if there was more personal finance and budgeting education in high school. I've said it before but when I was in school we had one quarter of one year that was consumer education where we briefly touched on things like budgeting and personal finance. Then I think of all the things in high school that I never had to use again in my life and why on earth did we have to take those things and so little attention was paid on a subject almost every single person will need....... personal finance. I know this board doesn't really love Dave Ramsey, but he's been pushing for years to get his course Foundations in Financial Literacy (or something like that) taught in all the high schools. Yes, I know he has an ulterior motive of getting paid for all those courses, but I do believe his heart is in the right place and he does want to get to people before they mess things up, and from what I can tell, it seems like a good course. I've been meaning to get the homestudy version for my son. DR claims it's already being taught in 40% of the high schools, but I can't really find anything corroborating that. It was taught to both my sons in HS and they really enjoyed it. So far it has kept them on the path to frugality.
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Tiny
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Post by Tiny on Jan 5, 2019 12:39:59 GMT -5
This is just my personal experience but I think a lot of these people could be helped out if there was more personal finance and budgeting education in high school. I've said it before but when I was in school we had one quarter of one year that was consumer education where we briefly touched on things like budgeting and personal finance. Then I think of all the things in high school that I never had to use again in my life and why on earth did we have to take those things and so little attention was paid on a subject almost every single person will need....... personal finance. I know this board doesn't really love Dave Ramsey, but he's been pushing for years to get his course Foundations in Financial Literacy (or something like that) taught in all the high schools. Yes, I know he has an ulterior motive of getting paid for all those courses, but I do believe his heart is in the right place and he does want to get to people before they mess things up, and from what I can tell, it seems like a good course. I've been meaning to get the homestudy version for my son. DR claims it's already being taught in 40% of the high schools, but I can't really find anything corroborating that. And isn't he affiliated with a religion/church? I think his course/teachings had/have a healthy dose of God thrown in.
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Post by Deleted on Jan 5, 2019 13:07:19 GMT -5
I know this board doesn't really love Dave Ramsey, but he's been pushing for years to get his course Foundations in Financial Literacy (or something like that) taught in all the high schools. Yes, I know he has an ulterior motive of getting paid for all those courses, but I do believe his heart is in the right place and he does want to get to people before they mess things up, and from what I can tell, it seems like a good course. I've been meaning to get the homestudy version for my son. DR claims it's already being taught in 40% of the high schools, but I can't really find anything corroborating that. And isn't he affiliated with a religion/church? I think his course/teachings had/have a healthy dose of God thrown in. Dave Ramsey is a Christian, and Financial Peace does look at money from that perspective, but the high school course is not religious. It's taught in a lot of public schools.
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Tiny
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Post by Tiny on Jan 5, 2019 13:07:33 GMT -5
I will buck the trend and say it's ridiculous to have personal finance as a high school class. Maybe one week or something but honestly it's not like there is a lot to learn. Spend less than you earn Checking acct Save for retirement Stock market Compound interest can wreck you or make you rich You can cover it all in an hour probably. Most people know what they should do. All the info is free on the internet. It's like expecting a hs nutrition class is going to solve middle life obesity problems. You don't know what you don't know. I took a Personal Finance class in college and that was the first time I ever heard about IRAs. I still remember having my mind blown by the charts with the guy that invested 2K/year for 10 years starting at age 25 and quit vs. the guy that started at 35 all the way until 65 and the balance of the first guys being more. I opened an IRA that year. I don't know when I would have learned about them if not then. Probably a decade later when I started hanging out on the money boards. Certainly not from the people I worked with! Then I would have been the guy saving from 35-65 instead of the 25-35 one! I also think high school kids should learn how to do taxes, and not just plugging numbers into Turbo Tax. Actually have the forms and go line by line so they know what's going on. I would think the "save for retirement" section of the course WOULD mention (and illustrate) IRAs (401K) and the other types of accounts that I am not familiar with because I do not qualify for them. I think the biggest dissue with a HS course (for someone who is 18 or under) is they can't participate in many of the things they are being taught IN REAL LIFE. They may not have "income". They may not have bank accounts. They may not have a job. And it might be 4 or 5 years BEFORE they have to pay rent or have money to put in a retirement account or need to save up for a mortgage down payment or file an income tax return . I think the HS course should touch on future stuff - but it really needs to focus on the basics (the old pay your self first - and explicitly explain what that means (saving not spending on yourself) and how to do it (immediately allocate a % or an amount from EVERY paycheck, payment for services, windfall before spending any of it and then account for that when making spending goals). I'd also maybe be aware that humans (often young humans) double spend money (they hear "you are paid $200 a week" and they think I can spend $200!! or they hear "you are paid $200 a week and they think they buy several $125 things over the course of a few days - because it's less than $200.) OK, maybe it was just my brain that wasn't "done enough" and clouded how exactly that all works.
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nidena
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Post by nidena on Jan 5, 2019 13:19:08 GMT -5
When possible, lessons definitely need to be learned early:
Cosby Show, Theo's Holiday or as I like to say "Theo Pays Rent": #1 #2 #3 #4 #5
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Lizard Queen
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Post by Lizard Queen on Jan 5, 2019 13:19:48 GMT -5
I want my children to be taught to think for themselves, not to blindly follow a set of rules. Plus, I liken avoiding all debt to abstinence only sex ed. 😉
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Post by Deleted on Jan 5, 2019 13:28:17 GMT -5
Right? I mean some of this is just poor choices. Unless the guy has some kind of medical issue that he can't get insurance, term life is CHEAP. He obviously is carrying next to nothing now if they'd be homeless in a year. My job provides 2X annual salary for free with no medical history needed. Even with medical problems you can still usually get life insurance. It would be surcharged, and you couldn't get a lot, but unless you're at death's door you can usually find someone to take you. Yes, but it can be cost prohibitive and even if you can swing the high payments for low coverage might not make any sense.
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Knee Deep in Water Chloe
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Post by Knee Deep in Water Chloe on Jan 5, 2019 13:30:10 GMT -5
So much here...
In mildly reverse order:
The DR high school course eschews any biblical reference. I vouch for this with my educational administrative license as an principal who allowed it to be taught in her building. It is a decent curriculum. As with anything there are portions I don't agree with, but it does give students a starting place.
FOR THE LOVE PEOPLE, SCHOOLS CANNOT BE RESPONSIBLE FOR TEACHING ALL THE THINGS. ALL THE THINGS. You know I take this quite personally, so I'll just stop there.
The lady who cleans my floors is white.
I think we live pay-check to pay-check. We simply don't save money in the ratio I think we should save. It's been ten years since we've added to our debt for anything except vehicles or a mortgage. It's certainly easier than when we had no wiggle room what-so-ever and actually went into debt to buy Christmas presents, clothing, fix cars. If we lost my paycheck, we can absolutely survive on DH's paycheck. We have a nicer-than -necessary house, eat well, we play a lot, we give a lot. Now, since DH's paycheck is 2/3 of our household income, if we lost his, we'd have a problem. The problem could be solved by selling most of our vehicles and our house.
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Post by Deleted on Jan 5, 2019 13:32:39 GMT -5
I want my children to be taught to think for themselves, not to blindly follow a set of rules. Plus, I liken avoiding all debt to abstinence only sex ed. 😉 Then why teach them anything about finances at all? Let then figure it out on their own. Again, the Dave Ramsey high school class is NOT the 7 Baby Steps to get out of debt which is what I think you're referring to with the "rules" part.
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Knee Deep in Water Chloe
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Post by Knee Deep in Water Chloe on Jan 5, 2019 13:36:54 GMT -5
I want my children to be taught to think for themselves, not to blindly follow a set of rules. Plus, I liken avoiding all debt to abstinence only sex ed. 😉 Then why teach them anything about finances at all? Let then figure it out on their own. Again, the Dave Ramsey high school class is NOT the 7 Baby Steps to get out of debt which is what I think you're referring to with the "rules" part. It really isn't. It really focuses on what life actually costs as an adult, how to plan for those costs based on the paycheck you earn. What loans are--all types--and how they work; how saving for retirement works and what that looks like in a budget.
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pooks
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Post by pooks on Jan 5, 2019 13:52:38 GMT -5
Honestly a lot of finance is just math. Teaching HS students about compounding interest and how to roughly calculate the FV of their loans based on several scenarios has merit, while they are picking schools. And then calculate what the payment will be. Teaching them how income based repayment works and how the loans can grow while making minimum payments that don't fully cover the interest. Maybe even evaluating a full compensation job offer with things like employer matches.
I took a personal finance class in college and they found a full semesters worth of topics to cover. If I was starting with a high school student, who knows very little, I think they have even more material to cover.
ETA: I am not saying Dave Ramsey is the answer.
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Lizard Queen
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Post by Lizard Queen on Jan 5, 2019 14:03:50 GMT -5
I want my children to be taught to think for themselves, not to blindly follow a set of rules. Plus, I liken avoiding all debt to abstinence only sex ed. 😉 Then why teach them anything about finances at all? Let then figure it out on their own. Again, the Dave Ramsey high school class is NOT the 7 Baby Steps to get out of debt which is what I think you're referring to with the "rules" part. Really, you get that from what I wrote?
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laterbloomer
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Post by laterbloomer on Jan 5, 2019 14:04:55 GMT -5
I would have benefitted a lot from a course in high school. And a whole semester, not a couple of hours. It takes a long time to get these principles embedded in your psychy. I know from how long it took when I was actually trying to do it. We can't expect parents living pay cheque to pay cheque to teach their children any differently. I admire people that were able to figure it out anyway, but most of us aren't like that. We continue the habits we lived with for most of our lives when it comes to home life. When I got on my own most dinners consisted of meat, protein and starch, I would do laundry on weekends and when I needed/wanted something I would buy it if the money was available. That's just how things are done. It takes a while to catch on and remember that there are other options.
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laterbloomer
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Post by laterbloomer on Jan 5, 2019 14:06:59 GMT -5
Then why teach them anything about finances at all? Let then figure it out on their own. Again, the Dave Ramsey high school class is NOT the 7 Baby Steps to get out of debt which is what I think you're referring to with the "rules" part. Really, you get that from what I wrote? So did I. People think best on their own when they have lots of information to help them reason it out. Dave Ramsey shouldn't be the only info they have but that option should be in there.
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Lizard Queen
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Post by Lizard Queen on Jan 5, 2019 14:17:44 GMT -5
Really, you get that from what I wrote? So did I. People think best on their own when they have lots of information to help them reason it out. Dave Ramsey shouldn't be the only info they have but that option should be in there. Well, I guess you see it differently if you can possibly benefit from him. I never could, as I learned about saving and frugality from a young age. My kids are 6 and 8, and I've been teaching them since they've understood the concept of money.
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nidena
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Post by nidena on Jan 5, 2019 14:24:09 GMT -5
Honestly a lot of finance is just math. Teaching HS students about compounding interest and how to roughly calculate the FV of their loans based on several scenarios has merit, while they are picking schools. And then calculate what the payment will be. Teaching them how income based repayment works and how the loans can grow while making minimum payments that don't fully cover the interest. Maybe even evaluating a full compensation job offer with things like employer matches. I took a personal finance class in college and they found a full semesters worth of topics to cover. If I was starting with a high school student, who knows very little, I think they have even more material to cover. ETA: I am not saying Dave Ramsey is the answer. I JUST took Finance, last term, and it was a struggle. Could have been the instructor. Could have been the material. I just know that Accounting I & II were oodles easier than Finance. lol.
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laterbloomer
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Post by laterbloomer on Jan 5, 2019 14:24:11 GMT -5
So did I. People think best on their own when they have lots of information to help them reason it out. Dave Ramsey shouldn't be the only info they have but that option should be in there. Well, I guess you see it differently if you can possibly benefit from him. I never could, as I learned about saving and frugality from a young age. My kids are 6 and 8, and I've been teaching them since they've understood the concept of money. I envy you, that didn't happen in my family.
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Post by Deleted on Jan 5, 2019 14:31:03 GMT -5
Then why teach them anything about finances at all? Let then figure it out on their own. Again, the Dave Ramsey high school class is NOT the 7 Baby Steps to get out of debt which is what I think you're referring to with the "rules" part. Really, you get that from what I wrote? Anyone teaching about finances is going to have their own spin on how it should be done. Whether it be DR or MMM or that guy that preached just investing in real estate 0 down and was anti-mutual funds (I totally forgot his name). The basics all pretty much overlap though and not everyone has parents teaching them about finances at home.
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Lizard Queen
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Post by Lizard Queen on Jan 5, 2019 14:35:27 GMT -5
Well, I guess you see it differently if you can possibly benefit from him. I never could, as I learned about saving and frugality from a young age. My kids are 6 and 8, and I've been teaching them since they've understood the concept of money. I envy you, that didn't happen in my family. My upbringing lacked some things (which contributed to some continuing personal struggles), but didn't lack in that area. Mostly what I was taught had to do with certain values, and that's what I try to pass on to my kids. So thinking for themselves would involve considering whether an action would uphold those personal values, or whether it is mindlessly following the herd.
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Post by Deleted on Jan 5, 2019 17:53:39 GMT -5
So did I. People think best on their own when they have lots of information to help them reason it out. Dave Ramsey shouldn't be the only info they have but that option should be in there. Well, I guess you see it differently if you can possibly benefit from him. I never could, as I learned about saving and frugality from a young age. My kids are 6 and 8, and I've been teaching them since they've understood the concept of money. I'm one of the morons that could have benefitted from him. My mom taught me to be frugal (as best as you can teach a kid something like that, I'm pretty sure it's more of a crap shoot), but she also was a "debt is good" person...or at least that's what I got out of what she was showing me. She had a CD at the bank and encouraged me to borrow against it constantly to build my credit and get nice cars. I had a loan against that CD for 15 years....then her and my aunts encouraged me to buy as much house as I could afford because it was an investment. Well, here I am 19 years later still cursing my mortgage. My mom also wasn't good about the "giving" and "spending" part of the spend/save/give mentality that DR preaches. It was hoard as much away as possible and F*** all the other lazy asses out there that weren't doing the same. I sometimes wonder how much more I'd have now and how less stressed out I'd be about spending if 1) extreme frugality wasn't shoved down my throat my first 18 years and 2) I wasn't drowning in debt the first 15 years out of high school. eta: changed marriage to mortgage, but I'm still cursing that as well.
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Lizard Queen
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Post by Lizard Queen on Jan 5, 2019 19:44:33 GMT -5
Well, I guess you see it differently if you can possibly benefit from him. I never could, as I learned about saving and frugality from a young age. My kids are 6 and 8, and I've been teaching them since they've understood the concept of money. I'm one of the morons that could have benefitted from him. My mom taught me to be frugal (as best as you can teach a kid something like that, I'm pretty sure it's more of a crap shoot), but she also was a "debt is good" person...or at least that's what I got out of what she was showing me. She had a CD at the bank and encouraged me to borrow against it constantly to build my credit and get nice cars. I had a loan against that CD for 15 years....then her and my aunts encouraged me to buy as much house as I could afford because it was an investment. Well, here I am 19 years later still cursing my mortgage. My mom also wasn't good about the "giving" and "spending" part of the spend/save/give mentality that DR preaches. It was hoard as much away as possible and F*** all the other lazy asses out there that weren't doing the same. I sometimes wonder how much more I'd have now and how less stressed out I'd be about spending if 1) extreme frugality wasn't shoved down my throat my first 18 years and 2) I wasn't drowning in debt the first 15 years out of high school. eta: changed marriage to mortgage, but I'm still cursing that as well. For the record, I never called you or anyone else here a moron. You may have started out clueless financially, but you seem to be one of the most disciplined and knowledgeable people here. Despite that, you're still hanging on to that house. You go through much effort to live out there for a reason--you really value it beyond money. That's not on your mom or aunts any more, because you know better now, right, yet you're still there? You've toyed with moving to town, but you really seem to love it out there, so maybe it wasn't such a bad choice for you after all. Things could have turned out differently in your marriages, and would have been less of a problem. You could have chosen to save less in retirement or college accounts, or supply less activities for your kids. Those are choices you have made based on your values. I'm not knocking your values at all--not at all. I think they're pretty great. I just don't think it's quite fair to continue to blame this thing on your mom, or to believe Dave Ramsey could have saved you from your choices. My ultimate dream is to build my own house with plenty of room someday. You've been living it! The price may have been high, but you've already gotten lots of years in a dream house. Just realize, you still have choices going forward, and now you are armed with greater knowledge and experience. You can borrow from your 401k for the siding if you need to fix it to sell. I don't know where you are with the payments and budget going forward, but you still have choices, and even if you need to sell, you have gotten to live in a place very suited to you for years of your life, and will likely walk away with a tidy sum to carry you forward. So, yeah, maybe not such a horrible choice after all. You could have done everything "right", and never have gotten to live there. So there's that.
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Post by Deleted on Jan 5, 2019 20:11:38 GMT -5
I'm one of the morons that could have benefitted from him. My mom taught me to be frugal (as best as you can teach a kid something like that, I'm pretty sure it's more of a crap shoot), but she also was a "debt is good" person...or at least that's what I got out of what she was showing me. She had a CD at the bank and encouraged me to borrow against it constantly to build my credit and get nice cars. I had a loan against that CD for 15 years....then her and my aunts encouraged me to buy as much house as I could afford because it was an investment. Well, here I am 19 years later still cursing my mortgage. My mom also wasn't good about the "giving" and "spending" part of the spend/save/give mentality that DR preaches. It was hoard as much away as possible and F*** all the other lazy asses out there that weren't doing the same. I sometimes wonder how much more I'd have now and how less stressed out I'd be about spending if 1) extreme frugality wasn't shoved down my throat my first 18 years and 2) I wasn't drowning in debt the first 15 years out of high school. eta: changed marriage to mortgage, but I'm still cursing that as well. For the record, I never called you or anyone else here a moron. You may have started out clueless financially, but you seem to be one of the most disciplined and knowledgeable people here. Despite that, you're still hanging on to that house. You go through much effort to live out there for a reason--you really value it beyond money. That's not on your mom or aunts any more, because you know better now, right, yet you're still there? You've toyed with moving to town, but you really seem to love it out there, so maybe it wasn't such a bad choice for you after all. Things could have turned out differently in your marriages, and would have been less of a problem. You could have chosen to save less in retirement or college accounts, or supply less activities for your kids. Those are choices you have made based on your values. I'm not knocking your values at all--not at all. I think they're pretty great. I just don't think it's quite fair to continue to blame this thing on your mom, or to believe Dave Ramsey could have saved you from your choices. My ultimate dream is to build my own house with plenty of room someday. You've been living it! The price may have been high, but you've already gotten lots of years in a dream house. Just realize, you still have choices going forward, and now you are armed with greater knowledge and experience. You can borrow from your 401k for the siding if you need to fix it to sell. I don't know where you are with the payments and budget going forward, but you still have choices, and even if you need to sell, you have gotten to live in a place very suited to you for years of your life, and will likely walk away with a tidy sum to carry you forward. So, yeah, maybe not such a horrible choice after all. You could have done everything "right", and never have gotten to live there. So there's that. I don't value a big house AT ALL. There have been many times I've fantasized about this place burning to the ground. Then I get hung up on the cats and gecko going down with the ship and feel like an asshole. I mean, I don't dislike my house, but if it were half the size and a plain jane ranch, it wouldn't phase me one bit. I love being in the country and I love not having neighbors anywhere near me, but the house? meh. It's a house. I look at a lot of the stuff in here and just get mad that I wasted so much money on it. Except the garage. I do like having a huge garage. Mainly I'm just stubborn and don't want to be looked on as a failure. I really wish I would have gone with the "no more than 25% of your take home on a 15 year mortgage" plan. I would have been paid off many years ago and still living my dream...only with a lot more disposable income. It wasn't even a great investment after all that time. It's a little harder to calculate since it was bought in segments. But, the land was 30K, the barn 28K, house 180K. Then improvements of 10K to the barn/fencing and 20K to the house. So I have 268K in it and I might...MIGHT be able to get 280-300K selling. Wow. Great gains for 20 years. I don't wish my financial life on my kids. I might be way more successful than most at my income level, but it's all consuming and obsessive, it pretty much has to be to pull off what I do. I want them to make more and have the freedom to be a little "sloppy" with the finances.
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Lizard Queen
Senior Associate
103/2024
Joined: Jan 17, 2011 22:19:13 GMT -5
Posts: 14,659
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Post by Lizard Queen on Jan 5, 2019 20:42:43 GMT -5
Yes, but if there were houses out there like you describe, wouldn't you have sold the big one and bought the smaller one years ago? Wouldn't you do that right now even? Sounds like you wouldn't have changed everything, you would have just tweaked your choices. Nobody's that perfect.
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Deleted
Joined: May 20, 2024 14:09:16 GMT -5
Posts: 0
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Post by Deleted on Jan 5, 2019 20:51:58 GMT -5
Yes, but if there were houses out there like you describe, wouldn't you have sold the big one and bought the smaller one years ago? Wouldn't you do that right now even? Sounds like you wouldn't have changed everything, you would have just tweaked your choices. Nobody's that perfect. There's really not anything out here with the horse set up I have and a little 1800 sf ranch house, the horse properties come complete with a McMansion. Plus, I am right by family that does all my haying. I wouldn't have that if I moved.
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