Don't BLOW your IRS refund & May rebates! Get WISE!
- Thread starter D-Locc60
- Start date
Same here..My company allows you to put away 5% of each check and they match it 100%..After a year 1/2 I am at $3,652.00..I work less time now because im a grad student and trying to hurry up and finish, but I still have my retirement going.. its free money..I advise EVERYONE to look into wherever you work and see what they offer..the sooner the better..you're passing up on free money..
"Common sense" equates to the knowledge and experience which most people have.
In this case, most people living in the hood, most people living in poverty and most that are neck deep in debt...they seriously lack "financial common sense" needed to escape their current financial situations. Knowledge is power, if you don't know how to escape debt, budget and invest, then the cycle of poverty repeats itself from generation to generation.
Let's not undermine people's intelligence on this subject, many do not have "financial common sense", thus we should educate.
With the said, what is common sense for you to do with your money (invest), does not equate to one in eight Americans. (see below)
"Consider the following facts:
One in eight Americans now lives in poverty. A family of four is considered poor if the family’s income is below $19,971—a bar far below what most people believe a family needs to get by. Still, using this measure, 12.6 percent of all Americans were poor in 2005, and more than 90 million people (31 percent of all Americans) had incomes below 200 percent of federal poverty thresholds."
source: http://www.americanprogress.org/issues/2007/04/poverty_report.html
I agree! Another opportunity to educate the masses.
One of the most basic concepts of economics is WANT versus NEED. This can help you make wise financial decisions with your green baccs!
A NEED is something you have to have, something you can't do without. A good example is food. If you don't eat, you won't survive for long.
A WANT is something you would like to have. It is not absolutely necessary, but it would be a good thing to have. A good example is 20 inch rims. You don't need duce O's to survive.
Honestly, I am surprise to see this thread generate so much interest, it's good to see folks step up and want to get their money right. Its 2008 folks!
In regards to my kids, my family and extended family are advised not to purchase toys for my kids.
My wife and I take care of that, my kids are str8, looking like Toys "R" Us.
The best thing my family and extended family can do for my kids is invest in their future. My kids have College Savings Plan (529) accounts and high interest savings accounts establish, my family and extended family are informed to put funds in these accounts. It can be as little as $20 when ever they choose, but after 18 years of that money growing and flipping, it will add up huge!
My young kids don't NEED $200 Gucci shirts and $175 Jordans, invest that money in their future.
I know cats with 20 inch rims on all their whips, Gucci shades and gear, but live in a hood trailer with Wal-Mart furniture. And they don't invest shit in their kids future! Sad fuccin thang!
In this case, most people living in the hood, most people living in poverty and most that are neck deep in debt...they seriously lack "financial common sense" needed to escape their current financial situations. Knowledge is power, if you don't know how to escape debt, budget and invest, then the cycle of poverty repeats itself from generation to generation.
Let's not undermine people's intelligence on this subject, many do not have "financial common sense", thus we should educate.
With the said, what is common sense for you to do with your money (invest), does not equate to one in eight Americans. (see below)
"Consider the following facts:
One in eight Americans now lives in poverty. A family of four is considered poor if the family’s income is below $19,971—a bar far below what most people believe a family needs to get by. Still, using this measure, 12.6 percent of all Americans were poor in 2005, and more than 90 million people (31 percent of all Americans) had incomes below 200 percent of federal poverty thresholds."
source: http://www.americanprogress.org/issues/2007/04/poverty_report.html
I agree! Another opportunity to educate the masses.
One of the most basic concepts of economics is WANT versus NEED. This can help you make wise financial decisions with your green baccs!
A NEED is something you have to have, something you can't do without. A good example is food. If you don't eat, you won't survive for long.
A WANT is something you would like to have. It is not absolutely necessary, but it would be a good thing to have. A good example is 20 inch rims. You don't need duce O's to survive.
Honestly, I am surprise to see this thread generate so much interest, it's good to see folks step up and want to get their money right. Its 2008 folks!
In regards to my kids, my family and extended family are advised not to purchase toys for my kids.
My wife and I take care of that, my kids are str8, looking like Toys "R" Us.
The best thing my family and extended family can do for my kids is invest in their future. My kids have College Savings Plan (529) accounts and high interest savings accounts establish, my family and extended family are informed to put funds in these accounts. It can be as little as $20 when ever they choose, but after 18 years of that money growing and flipping, it will add up huge!
My young kids don't NEED $200 Gucci shirts and $175 Jordans, invest that money in their future.
I know cats with 20 inch rims on all their whips, Gucci shades and gear, but live in a hood trailer with Wal-Mart furniture. And they don't invest shit in their kids future! Sad fuccin thang!
STOP BUYING STUFF WITH MONEY YOU DON'T HAVE TO IMPRESS POEPLE YOU DON'T REALLY LIKE!!!
www.daveramsey.com
www.daveramsey.com
Fuck that man that tax rebate is meant to be spent on taxable nonsense to boost the economy, thats why its designed for a lower tax bracket because they know itll be spent on liqour and rims. Im not saying be stupid with your money, but fuck getting all anal with every cent and socking everything away, when free money comes along in this situation have some fun and help the economy, like in ten years im gonna be like "Fuck i wish i had that 300 dollars, now i gotta live in a box." If your that fuckin stupid with money to have a ten year old tax rebate be your only hope in life you deserve to sleep in your car.
If you have that attitude, then every couple hundred bucks a month that you had a choice to invest or spend, you'd always spend it and never save. D-Locc's not saying its suppose to be "your only hope", its suppose to be something free that you didn't "work" for and take advantage of it by making more money off it because every little bit adds up. That $600 at a (low estimate) return of 7% over ten years would double your money.
