That's a brilliant idea man. I wish I took my dad's advice when I was 12 (10 years ago) and bought AOL stock with the money I had saved up (like $1,000). I think it would be like $100K right now.
Originally posted by: maziwanka
Originally posted by: FlyLice
Originally posted by: Bryophyte
This boy exemplifies the reason why my kids will have summer jobs and will be responsible for buying their own cars and insurance and clothes when they get to high school. They're already putting money into a savings account and a brokerage account that they make doing chores, and they're only 4 & 8.
We need more parents like Bryophyte, less like MySos's parents.
hahahaha. that is a little too much. brokerage accoutn with money they make doing chores? hahahahaha
Originally posted by: BlueWeasel
Originally posted by: MySoS
Originally posted by: miri
Originally posted by: FlyLice
Originally posted by: MySoS
Originally posted by: jagec
Originally posted by: MySoS
I said I realize my family probably isn't actually be poor. But I dont think we are rich ethier.
Yes i shouldn't have used the word poor, that was to strong. More like lower middle class.
actually, the lower middle class doesn't really exist anymore. Your parents are probably middle class or high prole. What are their jobs?
One of my parent is a janitor, the other works in an accounting office.
shens
edit: argh you edited and added accounting office
Probably because he edited his post. His post originally said BOTH his parents are janitors. Now he changes it to one?
Well one is a janitor and the other helps. I didn't actually intend to hit post when I said both of my parents are janitors. I was going to say "My parents are janitors and one of them also works in an accounting office". But I decided against that in the end since only 1 of them is being paid janitor the other one does accounts receivable for a local company.
How can you get that mixed up?
MySoS: Yep, both my parents are janitors
MySoS: Wait a sec! My mom works in an accounting office! She's not a janitor
*edits post*
Originally posted by: FlyLice
Originally posted by: maziwanka
Originally posted by: FlyLice
Originally posted by: Bryophyte
This boy exemplifies the reason why my kids will have summer jobs and will be responsible for buying their own cars and insurance and clothes when they get to high school. They're already putting money into a savings account and a brokerage account that they make doing chores, and they're only 4 & 8.
We need more parents like Bryophyte, less like MySos's parents.
hahahaha. that is a little too much. brokerage accoutn with money they make doing chores? hahahahaha
That's a brilliant idea man. I wish I took my dad's advice when I was 12 (10 years ago) and bought AOL stock with the money I had saved up (like $1,000). I think it would be like $100K right now.
Originally posted by: amoeba
Originally posted by: FlyLice
Originally posted by: maziwanka
Originally posted by: FlyLice
Originally posted by: Bryophyte
This boy exemplifies the reason why my kids will have summer jobs and will be responsible for buying their own cars and insurance and clothes when they get to high school. They're already putting money into a savings account and a brokerage account that they make doing chores, and they're only 4 & 8.
We need more parents like Bryophyte, less like MySos's parents.
hahahaha. that is a little too much. brokerage accoutn with money they make doing chores? hahahahaha
That's a brilliant idea man. I wish I took my dad's advice when I was 12 (10 years ago) and bought AOL stock with the money I had saved up (like $1,000). I think it would be like $100K right now.
assuming you sold about 4 years ago.
Originally posted by: FlyLice
Originally posted by: Bryophyte
This boy exemplifies the reason why my kids will have summer jobs and will be responsible for buying their own cars and insurance and clothes when they get to high school. They're already putting money into a savings account and a brokerage account that they make doing chores, and they're only 4 & 8.
We need more parents like Bryophyte, less like MySos's parents.
Originally posted by: nakedfrog
4 running cars = !poor
No car = poor (if no car by choice)
1983 Toyota Tercel = poor or extremely frugal
You're not lower middle class, either.
I myself am hoping to enter the middle class this year, after working my way up from homeless->dirt poor->poor->not so poor
Originally posted by: FlyLice
Originally posted by: maziwanka
Originally posted by: FlyLice
Originally posted by: Bryophyte
This boy exemplifies the reason why my kids will have summer jobs and will be responsible for buying their own cars and insurance and clothes when they get to high school. They're already putting money into a savings account and a brokerage account that they make doing chores, and they're only 4 & 8.
We need more parents like Bryophyte, less like MySos's parents.
hahahaha. that is a little too much. brokerage accoutn with money they make doing chores? hahahahaha
That's a brilliant idea man. I wish I took my dad's advice when I was 12 (10 years ago) and bought AOL stock with the money I had saved up (like $1,000). I think it would be like $100K right now.
Originally posted by: Bryophyte
Originally posted by: FlyLice
Originally posted by: maziwanka
Originally posted by: FlyLice
Originally posted by: Bryophyte
This boy exemplifies the reason why my kids will have summer jobs and will be responsible for buying their own cars and insurance and clothes when they get to high school. They're already putting money into a savings account and a brokerage account that they make doing chores, and they're only 4 & 8.
We need more parents like Bryophyte, less like MySos's parents.
hahahaha. that is a little too much. brokerage accoutn with money they make doing chores? hahahahaha
That's a brilliant idea man. I wish I took my dad's advice when I was 12 (10 years ago) and bought AOL stock with the money I had saved up (like $1,000). I think it would be like $100K right now.
To clarify a bit: a family friend sent us 300 bucks for each kid last year and said she wanted it to be invested as we saw fit. A Sharebuilder account for each kid is what we ended up doing. Extremely low overhead (only $4/trade.) We chose 2 stocks (the kids chose) and one index fund (I chose) for each kid and bought 100 bucks of each. I wish someone had done that for me when I was four! I tell them each time they put a couple dollars into their savings accounts (my son wants to start sending the money to his sharebuilder account once he reaches a certain goal with his savings account later this year) that "you're one step closer to your first million!" hehehe
Originally posted by: GreenMonkey
HAHAHAHAHA this is a funny description of poor.
My wife and I are lower middle class @ 45k-ish (probably 50k thanks to my overtime). We are currently both 25 yrs old and both of us work full time. She has a B.A. in Psych/CJ but no real job yet in 1.5 years graduated...so she works for $7/hr at a hotel. I am working on a CS/History degree fulltime while I work) are lower middle class. Although with our debt we are pretty poor, honestly, not to give the OP credit there.
I will draw some examples from my childhood of ACTUALLY being poor.
Poor is living in a trailer with a particle board porch, like me when I was a kid. And an old wrecked bus in the back yard.
With 1-2 cars that the other kids make fun of you for and aren't really relaible.
Living on a diet mainly of spaghetti, hot dogs, other cheap food, with the occasional food stamps/WIC stuff when they could qualify for it. And free hot lunches at school.
Playing an Atari 2600 from a rummage sale in the NES era.
Wearing clothes all rummage sale bought (nothing is worse than being nerdy and poor, I tell you - double the bullying).
Your idea of an Xmas present when you were a kid was worth $20 and you got better presents from the Sharing Tree (at least I had Grandma and Grandpa, thank god).
My parents never had more than a couple hundred bucks at one time, and it wasn't debt keeping them poor (minus a mortgage on the trailer/land).
Originally posted by: MySoS
Originally posted by: blackdogdeek
Originally posted by: MySoS
Originally posted by: Doggiedog
Originally posted by: MySoS
The funeral post made me think about this. I find it strange how so many people are in debt. My family (parents) is low income, yet we have 0 debt. We are able to buy new cars, and make home improvements up front in cash. So I don't see how if my parents who are poor can afford to do things like paying for a 25,000 car up front, and buy a new $15,000 roof up front with in a years time. Why do middle class families have to take out loans and such. Why are so many middle class families in debt. What are they spending their money on. I think the problem is people spend more then they have. That is why I think the idea of a morgage on a house, or a loan is stupid one. Just paying for everthing up front. That way you won't be in any debt.
Where the heck do you live Mr. Moneybags?
In the NYC area, you can't buy a decent house for less than $400k. If you want a 2 bedroom apartment in Manhattan, you're looking at $500k+.
My family is poor, I am not Mr. Moneybags.
My parents live in Sacramento, Ca.
If you can't afford to live in NYC then don't. Don't go bankrupt living some where you can't afford.
poor? if you consider poor to mean that you can pay for a house in cash, then i'd love to be as poor as your family is.
I didn't say my family paid for their house upfront. In 1980 when they bought it they barrowed family members. And paid the family members off in 5 years. In 1980 the house cost around 100,000. My family is poor. We can do these things because we know how to take care of money. Even though we are poor we own 4 cars and each car was paid upfront in cash. 2 of the cars are after 1995, and 2 are after 2003. Poor doesn't mean you can't afford to do things.
I have no idea how much money my parents make, I say we are poor since that is what my parents tell me.
Originally posted by: beer
mySOS has absolutely no concept of the time value of money. This thread should be locked - it's obvious this kid hasn't even taken what should be a high-school required economics course, where the time value of money is basically the first topic taught since it is the entire reason and foundation of economics
Originally posted by: Babbles
Depends on your family background and your environment. My parent's did not have a lot of money so I was strapped for cash in college. Had to work my butt off and I still hardly had money to eat so out came the credit cards.
I will straight up and admit I had very poor financial skills. I did fall into that credit card trap of play now and pay later.
I blame college!
Originally posted by: DrPizza
Not that I mean to defend the tard that started this thread, but he does have a point about saving for items and paying cash, rather than charging them, which increases your debt in the long run. It's not a matter of "I charge them then pay the entire balance off at the end of the month" - I'd consider that more of a personal accounting management plan... It's the people who want the new big screen tv, but can't afford it right now, so they charge it right now. If they saved $100 a month, they'd have it in 10 months. Instead, they charge it, and end up paying 2 or 3 times the value of it over the course of a few years - money they could have spent on something else.
I think there's a big difference though between such discretionary purchases and purchases of things that may be considered a necessity - housing and transportation... interest rates on those two items are typically lower over the longer term. Plus, you gain equity in a home (especially if real estate prices increase) rather than have absolutely nothing to show for your money if you rent.
It really doesn't matter though... the OP is just trolling.
Originally posted by: MySoS
2 weeks ago I had to buy books for school, and my parents reminded me how much going to school is costing them and it is a public school. They kept talking about how little money they have, and such. My parents spend all of their money on me and my brother though, we are the ones with the newer cars and such. But I don't think they are cheap.