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Money?

posted by Avistew on - last edited - Viewed by 701 users

Is money an inappropriate subject?
I like talking about money. I find it relaxing. I was wondering if other people were in the same case and would like to talk about it.

I know it's often taboo (you're not supposed to ask people how much they earn or stuff like that) but I wasn't sure if it's considered controversial enough to be, well, something to avoid talking about on forums.

Either way, if anyone else is interested, here is a money subject. Well, for now. Who knows what it's going to turn into.

105 Comments - Linear Discussion: Classic Style
  • I make enough to live comfortably, with some luxuries... but not enough to live extravagantly...

  • I turned 17 in September, which is the legal driving age in the UK. I don't have nearly enough money to learn to drive though, let alone get a car and insurance :( I hate money (or a lack of it).

    It annoys me how some people seem not to have a very good concept of it, though. As an example, I go to college, and I get £30 a week from the government (EMA/education maintenance allowance) because I'm from a low income family. I use this money to eat, buy clothes, books etc., just like it's intended. A lot of people at my college, though, are from pretty well-off families, and a lot of them tend to get pissed off at the fact that I get money from the government. These people get money from their parents, though (pocket money) on top of their parents paying for them to drive etc., so to me it seems like they're either incredibly ungrateful or they just genuinely don't fully understand money because they've never been in a shortage of it.

    To sum up, I think that in order to have a good sense of money and how to spend/save it properly, it generally helps to not have any.

  • What I'm most curious about is what people spend their money on, if they have a budget, etc.

    For instance I read a figure that said you needs should be 50% of your income, your "wants" 30% and your "save" 20%.

    But I thought that was weird. I mean if you earn very little, your needs might be 90% of your income. And if you earn a lot, you're not going to suddenly need more stuff, and you should force yourself to live in a bigger place or something so it can reach 50%.

    I mean, I don't have an income at all and my husband doesn't earn much (although a bit more than minimum wage) and yet our needs are much less than 50% of our income, so I can't imagine how people who earn like 30,000+ a year would be able to spend 50% of that on needs.

  • I also have a wife and it definitely helps having a teammate to tackle all the money problems... Although money is also one of the main reasons people talk about in divorce court.

  • @Fealiks said: It annoys me how some people seem not to have a very good concept of it, though. As an example, I go to college, and I get £30 a week from the government (EMA/education maintenance allowance) because I'm from a low income family. I use this money to eat, buy clothes, books etc., just like it's intended. A lot of people at my college, though, are from pretty well-off families, and a lot of them tend to get pissed off at the fact that I get money from the government. These people get money from their parents, though (pocket money) on top of their parents paying for them to drive etc., so to me it seems like they're either incredibly ungrateful or they just genuinely don't fully understand money because they've never been in a shortage of it.

    That reminds me of a friend of mine. Well two of them. One lived in a studio (10 square metres, about 100 square feet) and earned 800 euros a month. She wasn't doing awesome but she was getting by.
    The other, who's from a super rich family, would make comments like "well, you can buy lots of stuff with 800 euros!"
    I've shopped with her in the past (which mostly means I've carried her bags lol) and it was common (yes, common, she'd do it regularly, as in several times a month at least) to buy 600 euros worth of DVDs in one go, then move on to the comic book section or clothes and spend even more.

    It completely boggled my mind that she could only think of money in matters of "pocket money", that is money to spend on stuff she wanted. It never seemed to cross her mind that things like rent, electricity bills, transportation and food (not restaurants, just basic cheap food) cost money too, and a lot of it. And that my other friend didn't have money left that she could spend as "pocket money" once she was done paying for the basics.

    It was a bit frustrating to say the least. Especially since she's such a nice and generous person. For her money just isn't an object, she's never had to stop and think about it, as you said because she's never lacked it.

  • @avistew said: That reminds me of a friend of mine. Well two of them. One lived in a studio (10 square metres, about 100 square feet) and earned 800 euros a month. She wasn't doing awesome but she was getting by.
    The other, who's from a super rich family, would make comments like "well, you can buy lots of stuff with 800 euros!"
    I've shopped with her in the past (which mostly means I've carried her bags lol) and it was common (yes, common, she'd do it regularly, as in several times a month at least) to buy 600 euros worth of DVDs in one go, then move on to the comic book section or clothes and spend even more.

    It completely boggled my mind that she could only think of money in matters of "pocket money", that is money to spend on stuff she wanted. It never seemed to cross her mind that things like rent, electricity bills, transportation and food (not restaurants, just basic cheap food) cost money too, and a lot of it. And that my other friend didn't have money left that she could spend as "pocket money" once she was done paying for the basics.

    It was a bit frustrating to say the least. Especially since she's such a nice and generous person. For her money just isn't an object, she's never had to stop and think about it, as you said because she's never lacked it.

    Yeah, that's exactly the type of thing that I'm talking about. I don't think you should blame people for that sort of behaviour though - if it's a genuine lack of thought/knowledge on their part then it's best to just let it slide.

    About the 50% of your income thingy, though, as I said I get £30 a week, and I usually end up spending about £20 of it on food (which is about 67%). The rest is sometimes saved, sometimes spent on things for college and sometimes spent as pocket money. I think you're right that the amount you spend on things you "need" depends entirely on how much you actually earn.

  • I'd reccomend "God Bless You, Mr.Rosewater" by Kurt Vonnegut.

    It's a little harsh, but it says a lot of things that need to be said about money.

    Our civilization's money system is very iffy.
    Money = representation of the work you've done/goods you've helped produced.
    Amount of work done in the world = amount of money in the world.

    But when we include things like rent, and interest, you're basically creating money out of thin air.
    You just have money sitting there, multiplying.

  • Yeah, I think stuff that's based on % of income is often flawed, since income can vary so much.

    When they say you can expect to spend x% of your current income once you're retired, I'm always thinking "shouldn't you base that on your current actual spending rather than your current income?"
    What if someone earns so much that they only spend 10% of what they earn (and are stashing up the rest for when they stop earning that much)?

    Also, I wasn't blaming my friend but it was sometimes frustrating some of the comments she made. You could tell she really had no idea, and we tried to make her see but it didn't seem to work much.

    I also agree with Irishmile that having a "financial partner" can be a lot of help (or a lot of trouble). The most obvious example in our case is that we've never had two incomes at the same time (I used to make the only income, now it's reversed) but it's also a lot of help to discuss things, and in our case we temperate each other, since I tend to oversave and he tends to overspend. We remind each other not to overdo it too much.
    (I don't think it would work if the difference is too huge though, or if the halves of the couple aren't beyond doing things behind each other's back).

    I think it's too bad that some people just avoid the subject altogether. I mean, you need to at least know where you're standing (are you spending more than you make? Are you in debt? Did you forget to pay some bills?) and you can't just ignore it and think it will go away.
    A lot of people find it stressful, I find it relaxing because this way I know where I'm standing. Even if the result is "you owe us money", I feel much more relaxed knowing how much exactly and how long it will take me to pay it back than just not knowing if I owe money or not.

  • So, did anyone really think a thread about money could be established without me dropping by to give my two cents? A man is, of course, entitled to keep ever cent he makes. It is not the place of the government or the church to tell a man what's his and what's not. Any man who tells you different, either has his finger in your pocket or a pistol at your neck.

  • TL;DR story of my financial status ahead.

    I still live with my parents, but only because I don't see it necessary to rent an apartment when my school is so close to my house. I'll most likely move to Orlando after I graduate and share rent with my friend, but for now it's financially easier like this. Besides, even if I wanted to live on my own, I couldn't, at least not for the school I'm going to. Not just because I can't afford the dorms, but there's other factors.

    First of all, I don't get any sort of financial aid, only loans. I think it's because when I applied for it, both my parents were employed. Now, I'm not complaining at all about this, after all I've already adapted, but sometimes I wish things were a little easier for us financially. My mom has been laid off twice from her job now and she's going to a career college to work on something else, because she's deemed it impossible to get an engineering job in this area and with the economy being what it is. My dad is well off, but he makes less than half what my mom made when she had a job, so it's not as easy as it once was.

    My school is EXPENSIVE, let's just leave it at that. Even for the gargantuan amount of money you have to pay, there's still buying your supplies for every class and such, some you don't even end up using later, and can easily amount to $100 per class. I did so well in high school but I didn't get any financial aid or anything from it, because it didn't count towards this school, I'm guessing. (but it's the only school with animation around here so I have no choice) So sometimes I feel as if it was all for naught since most of my friends who got into the same school managed with a G.E.D. I just wish I had a LITTLE bit of financial support because I am managing through loans and I know it's going to come back and bite me in the butt later. D: (my parents won't pay for it, I have to) A lot of the students at my school are completely baffled when I tell them I get no financial aid. Like one time this guy invited me to eat lunch at the school cafeteria and I told him I had no money. He asked me how much I had left on my "card." I told him I don't have financial aid pay for my food and he looked at me like I had showed him a live unicorn. :|

    One thing I did to avoid the mass of money is to take the general credits in a cheaper community college, which helped out the strain a bit. Though thankfully they were transferrable in my school. This school has a campus somewhere else where they aren't, for some strange reason, even though it's basically the same school!

    So basically, my school has these very annoying schedules, especially for animation students. They're around 3-4 hours per class in an 11-week term, and even if you register early for classes there is probably no way you'd get classes at the exact time you want them because the professors are constantly being switched around. Also you're forced into 5 classes per term. (this is one of those schools where they want to get students out as fast as possible, you see) Because of this it makes it very difficult for me to get a solid job. (imagine trying to tell my boss every 11 weeks that I have to change work schedules again)

    So, I work a temp. pool job. I get $12 per hour, but I am only allowed to work nine hours a week. (It was eight before but I got a raise) So yeah, I really don't make much. 3/4 of my monthly paycheck goes into my savings for my car and such, the rest is used for whatever I want, though sometimes I have to use it for food and school supplies. But it's ok at least I have a house, some people are far, far worse. You have no idea how many of my friends have come over to stay at my house after... Issues.

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