How do you help people with finances?

The sad thing is, that's how you're supposed to live now. Enslave yourself with mountains of debt while consuming as much as humanly possible.

Wait what? They have kids and spend money like crazy? That's like the complete opposite of what would be expected.

Sounds like my sister, who makes more than my wife and I together, with less financial responsibilities, yet never has any money. Or my buddy, who misses his mortgage payment now and again, yet spends insane amounts of money on his and his GF's car (fuckers must watch too much Fast and Furious or some bullshit). I learned long ago that commenting on their finances (even when they bring it up) is a losing proposition, so I just ignore their bitching. People are dumb and you can't change them.

Gotta keep up with the Joneses.

Sadly, you can't help people learn how to be "good" with money. The only way people learn is to hit hard times and learn through experience. Even then, some people are still unable to grasp basic fiscal responsibility.

Borzak_sl said:

How do you help people with finances? I'm not talking about giving them money but getting pointed in the right direction without sticking your nose in too deep.

I have a friend who makes pretty good money. Both him and his wife have good healthcare jobs. But everytime I talk to them they are buying something new and gettng a loan. One of them got a new job and the first day after work they bought new vehicles because they could get a bigger loan now. Same deal with their house etc....I'm sure their house cost (I know what it cost) whatever their maximum loan amount was. They can never come up with $5 cash.

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If they haven't asked for help, they won't listen to it. Usually when people start asking me for money, they get advice instead. I've seen people blow all of their paycheck between booze + cigarettes + gambling, and then bitch about it. Here's an idea, stop blowing $1k a week on entertainment.

I've looked at so many people's budgets, and it's like this 75% of the time for people that can't make ends meet. They'd rather blow their money on slots than to feed their family. I lived in Austin, making 60k, and still managed to sock away 54% of my pay away before I bought my own business. I was a pretty ruthless budgeter back then.

I don't . In fact glad I moved thousands of miles away from people who "borrowed" stuff before 2008. Left no forwarding address either , fuck em. Got my own finances and family to worry about.

Borzak_sl said:

How do you help people with finances? I'm not talking about giving them money but getting pointed in the right direction without sticking your nose in too deep.

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I think the second part answered the first part. That answer being "don't stick your nose in." If someone isn't asking your for specific advice but just bitching about things in general, then it's probably not wise to get up in their grill about their spending habits unless they are very close friends or family. Even if you make less money than them, there's a good chance they're be resentful of whatever advice you give them.

E makes a good point.

Could always just give them Dave Ramsey's Total Money Makeover book. If they take it as being preachy or if they get defensive about it then you know they would've done so for anything else you would've said.

I don't agree with everything Dave says, but that doesn't mean all of his points are bad. He treats his employees pretty good too so I don't mind referring his stuff.

You don't. 99% of people's brains just aren't wired to do anything beyond live paycheck to paycheck.

One time I told a beggar on the street to go fuck himself and he told me that I was one paycheck away from being in his shoes. I laughed, but for the vast majority of people he would be right, and they will never change.

Gadrel_sl said:

You don't. 99% of people's brains just aren't wired to do anything beyond live paycheck to paycheck.

One time I told a beggar on the street to go fuck himself and he told me that I was one paycheck away from being in his shoes. I laughed, but for the vast majority of people he would be right, and they will never change.

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My brain cannot comprehend how people can live paycheck to paycheck IF they make a reasonable living.

Vinen_sl said:

My brain cannot comprehend how people can live paycheck to paycheck IF they make a reasonable living.

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For most people, the more you make, the more you spend. I've had friends that have literally doubled(or more) their income since getting out of college, and they still act as broke as they ever did, and I'm sure they are. Most people put a lot of importance on keeping up with the Joneses.

For most people, they don't need to spend $700 a month on a new Infinity when a $350 a month Honda would do just as well. Us Americans waste a LOT of money on frivolous, unnecessary shit. They stretch to the limit of what they can qualify for on a home loan, get a couple new cars, rack up a lot of credit card debt with new furniture, vacations, etc.

I have friends that complain about being broke as hell, yet they are still taking their kids to Disneyworld or going on vacations to Jamaica every single year. No reason to do without just because you don't have the money! lol. Idiots

joeboo_sl said:

For most people, the more you make, the more you spend. I've had friends that have literally doubled(or more) their income since getting out of college, and they still act as broke as they ever did, and I'm sure they are. Most people put a lot of importance on keeping up with the Joneses.

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This is spot on.

I've got a good friend, and both he and his wife make 6 figure salaries. They've got a beautiful house in a great location which currently has a fully finished basement and 2 bedrooms sitting unused. They're talking about buying a $500,000 - $600,000 house in the next few years. I asked him why, if their current house is so great, and his response was basically: *shrug* "We make enough money to buy one."

I would say you are wasting your time unless they specifically asked for you advice. If they are not willing to budget or look at their finances they are in for a rough ride when one or both of them lose their jobs at any moment and the bills start piling up.

I had to take a long hard look at my budget earlier this year. Used YNAB, forced me to input and see what was coming in and out of my bank account. I am very aware of my finances now, starting to pay off debt and shaved a couple of hundred in bills for things i didn't need.

Anytime I get an urge ta shop , take a ride through the post on trash day . Best time is usually early summer when people PCS or just after xmas, when people throw out shit they used once then stuffed in a shed.

Do all my xmas shopping that way , TV's , slightly dated electronics like iPods with hundreds of songs , kitchen appliances , designer label clothes , boots.

So maybe 10 bucks in gas for a trunk full of merchandise , post xmas scores included 3 scully leather jackets , bunn coffee maker , ninja blender , 2 pairs of jump boots , gloves , socks ).

Most of the american economy these days is based on buying things you don't need to impress people you fucking despise.