| 17:24 - Apr 7 with 1531 views | _ |
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| Do many TWTD’ers have children like this? on 17:40 - Apr 7 with 1472 views | J2BLUE |
He's a product of the society we have collectively created. Personally I have no idea why someone would want to collect loads of pairs of expensive trainers (or other rather pointless expensive products) but that's how most people think. Finance is not widely taught in schools anywhere near to the level it should be and so much focus is on how you can keep up with whatever crap everyone else is buying.
I had a mate who always wanted the latest iphone. I asked why and he would rattle off a list of reasons why and none of them were worth upgrading for. Always things like it has a slightly faster processor but he needed it because he thought it was some sort of status symbol.
You've had real world practical 'training'. Most people haven't and are clueless. It always amazes me that people don't have a budget or any way to tract their expenses. I would be lost without my spreadsheet. Doesn't take long and it's so useful. As sad as it might sound to some I get far more satisfaction out of saving some money knowing I can pay my bills comfortably than spending it on some random bit of crap.
TL; DR: Finance needs to be taught in schools. An hour a week for every class in every year. Drum it into them. Will they bother though? The economy needs people to buy crap and credit cards are an amazing way to have what you what right now! Screw the bill coming in, that's for future you to worry about and remember, when you have maxed that card you can always get another. |  |
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| Do many TWTD’ers have children like this? on 18:33 - Apr 7 with 1407 views | SpruceMoose |
| Do many TWTD’ers have children like this? on 17:40 - Apr 7 by J2BLUE |
He's a product of the society we have collectively created. Personally I have no idea why someone would want to collect loads of pairs of expensive trainers (or other rather pointless expensive products) but that's how most people think. Finance is not widely taught in schools anywhere near to the level it should be and so much focus is on how you can keep up with whatever crap everyone else is buying.
I had a mate who always wanted the latest iphone. I asked why and he would rattle off a list of reasons why and none of them were worth upgrading for. Always things like it has a slightly faster processor but he needed it because he thought it was some sort of status symbol.
You've had real world practical 'training'. Most people haven't and are clueless. It always amazes me that people don't have a budget or any way to tract their expenses. I would be lost without my spreadsheet. Doesn't take long and it's so useful. As sad as it might sound to some I get far more satisfaction out of saving some money knowing I can pay my bills comfortably than spending it on some random bit of crap.
TL; DR: Finance needs to be taught in schools. An hour a week for every class in every year. Drum it into them. Will they bother though? The economy needs people to buy crap and credit cards are an amazing way to have what you what right now! Screw the bill coming in, that's for future you to worry about and remember, when you have maxed that card you can always get another. |
Do you really think most people are clueless? I think most people get on just fine, doing the best they can. I'm my experience the people I've known with the most disregard for the true value of a pound cake from wealthy and privileged backgrounds. There does seem to be a perception though, that anyone under the age of 25 is some useless, parasitic baby.
People spend their money however they like. The reasons your mate gave my seem like crap to you, but not necessarily for him. You gamble. That's a ridiculous waste of money to me but unless I lending you money to gamble with its not my concern. If he can afford a new iPhone then good for him. If he can't afford it, but is getting it anyway then I agree that would be an issue.
I do completely agree with your last point. I've often though kids should have some kind of formalised 'life skills' type education. Ideally this should be done by the parents but I guess some parents don't always set the best example. |  |
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| Do many TWTD’ers have children like this? on 18:42 - Apr 7 with 1383 views | J2BLUE |
| Do many TWTD’ers have children like this? on 18:33 - Apr 7 by SpruceMoose |
Do you really think most people are clueless? I think most people get on just fine, doing the best they can. I'm my experience the people I've known with the most disregard for the true value of a pound cake from wealthy and privileged backgrounds. There does seem to be a perception though, that anyone under the age of 25 is some useless, parasitic baby.
People spend their money however they like. The reasons your mate gave my seem like crap to you, but not necessarily for him. You gamble. That's a ridiculous waste of money to me but unless I lending you money to gamble with its not my concern. If he can afford a new iPhone then good for him. If he can't afford it, but is getting it anyway then I agree that would be an issue.
I do completely agree with your last point. I've often though kids should have some kind of formalised 'life skills' type education. Ideally this should be done by the parents but I guess some parents don't always set the best example. |
I should have made it clear that I meant clueless at his age. Some people, like Libero it seems, have to grow up faster and get a clue quickly.
This mate couldn't afford the phone, another point I should have made clear. He was incredibly materialistic. Always thought the next product would make him happy. He took out credit cards whilst living at home and ran up £22,000 worth of debt without a job. Naturally that all came to a head.
Please note that I rarely gamble. I do something called matched betting which brings me in about £300 a month on average. When I first started and had access to all of my accounts it was about £600 per month on average. I do sometimes have a small bet on certain events but it's all playing with profit and therefore not a waste of money.
The financial education is key. Perhaps with a much clearer understanding of credit cards and payday loans my mate wouldn't have got into that situation. | |
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| Do many TWTD’ers have children like this? on 18:43 - Apr 7 with 1380 views | Sarge |
I’m 25 and have my own rented place in Surrey, it’s almost not worth it though because the cost of living anywhere in the south east is ridiculous. This guy seems like a massive tool but doesn’t sound like anyone I know in their early/mid twenties, most know how to be an adult. | | | |
| Do many TWTD’ers have children like this? on 20:11 - Apr 7 with 1282 views | Marshalls_Mullet |
I imagine there were wasters like this 20 years ago, I don't think he represents the norm. |  |
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| Do many TWTD’ers have children like this? on 08:01 - Apr 8 with 1144 views | Coastalblue |
I'll confess to not being the best with money, although I've never got myself truly in the sh1t I've sailed pretty close to the wind on occasions.
When I divorced the savings that were there were very much down to my ex wife I will concede that, if left to my own devices I have a habit to live to my means and always have.
It wasn't upbringing with me, both my parents worked hard and as I turned into a teenager I got no pocket money but as my Dad had a business had to work for money, I worked every Saturday from the age of about 12, same for school holidays.
I must confess though, living with parents at 23 sounds absolutely horrendous but can understand why some have to do it, especially if they live and work in a City.
I'm certainly not proud of my financial acumen and would love to change, I've had times when I'm scared to open the mail but I doubt I'll change now. |  |
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| Do many TWTD’ers have children like this? on 08:19 - Apr 8 with 1121 views | chicoazul |
It seems to me that life is very very hard for young people and that doing the things many people of my Gen Z generation took for granted like buying a house, getting married, having kids - all the things that are fundamental parts of the human condition that we are pretty much all born to - are almost impossible for them to achieve. So no wonder they keep the party going as long as they can - what's the point in not? |  |
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| Do many TWTD’ers have children like this? on 08:37 - Apr 8 with 1099 views | fabian_illness |
Reminds me of my sister in law, she’s 42 this year, still at home with the in-laws, pays a pittance in rent, gets woken up in the morning and comes down to breakfast before picking up her bag with her packed lunch in and walking to work. Mother in law would have asked if she was home for dinner and if so what did she fancy? She eats out with friends 3 or 4 nights a week and when she’s not out she has her nights in front of the TV planned with military precision.
They are mugs to be fair, their life revolves around her. |  | | |
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| Do many TWTD’ers have children like this? on 10:49 - Apr 8 with 1040 views | itfcjoe |
I moved out when I was 23/24 - but I had it pretty cushty at home and wasn't really that worried.
I could have afforded to rent somewhere, but I didn't want to - when I did look at that with a mate my parents were telling me how pointless it was also. It wasn't until I met someone that I started actively saving for a house deposit.
But I had a good life living there, spending plenty on travelling and life, my Mum would still treat me like a kid and do all my washing etc, all meals cooked for me and plenty of supplies in place.
Was nice to live with no real responsibility - I wasn't a spoiled brat when i was there and get on well with my parents and never really fell out even over anything small. No rush to get into the 'real world' for me. |  |
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| Do many TWTD’ers have children like this? on 11:11 - Apr 8 with 1002 views | Meadowlark |
Our youngest is 23 and living back at home with us. He was away at Uni for three years, then had a bit of a quest finding a job, but he's doing OK now, with a regular income and a job he likes most of the time.
He pays us what we all consider to be a fair rate for getting his meals cooked and his washing done - and of course his room heated! He doesn't waste money on phones and trainers, but he does sometimes get a take-away when we've cooked him a perfectly good meal, which is a bit annoying!
He'd like to move out into his own place, but to be honest we're discouraging him from renting and trying to help him save for a deposit for a place of his own. Not sure how long this situation will last because he (understandably) wants his independence..
He does leave lights/TVs on when they're not in use and we often wait up wondering what time he'll be home, but we're not complaining. He'll be gone soon enough and then we'll miss him and it'll just be the two of us wondering how we got to be so old? |  | | |
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