Soul shout

Braydon

New member
I am so sick of people. Doing stuff that they don't understand. They try to beat the "coin" on a long one (as we know, the stock market is growing on average, but currencies behave quite randomly). Why can't they put off most of their scholarship at 18-22, then up to 26 most of their salary, live without credit cards and become financially free by 30? Why do people always blame migrants and unemployment, but only consume? How does it work, explain...
 

Isaias

New member
In most countries, people 18-22 are on very low salaried jobs or employers don't think their qualified enough or too qualified for a job.

To me, there's little point working at minimum wage until it's at its highest. Student loans aren't problematic they're just made to seem that way afaik... A degree should only set you back £60k, which if youre earning enough for it to impact you, you can pay it off pretty quickly - otherwise it's not a problem.



A lot of people also aren't after financial freedom, they'd probably just say they'd get bored and keep working. If you're wanting to travel you could find a job that pays you to do that too probably.
 

Moshe

New member
In most countries, people 18-22 are on very low salaried jobs or employers don't think their qualified enough or too qualified for a job.

To me, there's little point working at minimum wage until it's at its highest. Student loans aren't problematic they're just made to seem that way afaik... A degree should only set you back £60k, which if youre earning enough for it to impact you, you can pay it off pretty quickly - otherwise it's not a problem.



A lot of people also aren't after financial freedom, they'd probably just say they'd get bored and keep working. If you're wanting to travel you could find a job that pays you to do that too probably.
Look, I live in a country like this. The average food courier's salary is $300 a month, the cashier's salary is $250. We have a hell of a lot of different programming courses (some with job offers immediately after graduation). There are a lot of cool courses. Also, a large number of schools learn programming in the currently popular languages (mostly python). And with free education it should have turned into a real factory producing lines of code. And what do you think? Is there a country of programmers? No, we have a country of vegetable sellers at farmers' markets for a penny, taxi drivers, cashiers and waiters. They invest their money in a bank at 6% with inflation of 10-13% per year and they do not want to do anything, they are happy to invest in pyramids (ponzi schemes), do not save money and use credit cards. How to live in a place where the mortgage at 17.9% is cool and people are happy to take such loans? And tell me, how not to cry here?

I don't want to turn my life into a whole trip. But to find myself in a quiet, peaceful place with evergreen grass, delicious mozzarella and good Chilean wine - why not?

About boredom - a very progressive professor at a Russian university said it was a myth for the poor so they wouldn't stop working. But tell me, do pensioners with big savings miss it? Many clubs, bars, various places for pastime like parks (which, however, are closed because of the covid) have been created for them. Now they have an opportunity to reconsider the cool movies of their youth, eat croissants of the local baker and drink a glass of wine in the evening. And this is if you don't remember yet that they have their hobbies, a country house where they will feel less constrained. There is activity, the only question is, does the person want it all?
 

Dennis

New member
In stable times our inflation was at 1.7%. Bank accounts pay 1.1% interest... Mortgage interest here is 3-8%.

There's no reason you can't keep up a job while continuing on with education, some high skill low demand jobs will pay similar to a full time job on part time if you're capable enough. You can obviously try to invest in things but you need to know what you're doing, you can't say you're doing well if you can't compete with an equity fund (unless you've put your money into one).

Also, if you're pretty young your credit score will be quite low and you might get bored or stressed about the idea of remaining in the same place for a long amount of time. You'll also be without a history of being able to repay a loan too (back to credit score) ...

And then there's a question of how to socialise and meet new people as a lot of people find out about events and other things through their colleagues afaict.
 

Uriah

New member
In stable times our inflation was at 1.7%. Bank accounts pay 1.1% interest... Mortgage interest here is 3-8%.

There's no reason you can't keep up a job while continuing on with education, some high skill low demand jobs will pay similar to a full time job on part time if you're capable enough. You can obviously try to invest in things but you need to know what you're doing, you can't say you're doing well if you can't compete with an equity fund (unless you've put your money into one).

Also, if you're pretty young your credit score will be quite low and you might get bored or stressed about the idea of remaining in the same place for a long amount of time. You'll also be without a history of being able to repay a loan too (back to credit score) ...

And then there's a question of how to socialise and meet new people as a lot of people find out about events and other things through their colleagues afaict.
What kind of country is this? Would I risk telling you that this is England? Because the deposit rates for mainland Europe are high (or if you go to some small bank). As for credit stories and credit ratings - why a loan to a person who lives on his income? Mortgage - with a high initial deposit gives a very good rate, the presence of large deposits or a good portfolio of various quality instruments favorably distinguish even from 40-year-old borrowers with good credit history. At the age of 19, I was approved for a mortgage loan (prime rate) with a down payment of 5%.
 

Tony

New member
Look, I live in a country like this. The average food courier's salary is $300 a month, the cashier's salary is $250. We have a hell of a lot of different programming courses (some with job offers immediately after graduation). There are a lot of cool courses. Also, a large number of schools learn programming in the currently popular languages (mostly python). And with free education it should have turned into a real factory producing lines of code. And what do you think? Is there a country of programmers? No, we have a country of vegetable sellers at farmers' markets for a penny, taxi drivers, cashiers and waiters. They invest their money in a bank at 6% with inflation of 10-13% per year and they do not want to do anything, they are happy to invest in pyramids (ponzi schemes), do not save money and use credit cards. How to live in a place where the mortgage at 17.9% is cool and people are happy to take such loans? And tell me, how not to cry here?
I am more or less sure that these numbers are not just peculiar to your own country, that the majority of countries in the world have the same situation as yours or even worse.

And are you saying there is free education in your country?

If it is hard to hold back tears pondering on your countrymen investing money in a bank whose interest is much lower than inflation, on them investing in pyramids, on them using credit cards, and so on, you'd be crying a river at my countrymen's situation.

In my country, millions of people cannot even open a bank account, much less invest in them. They cannot even manage to set aside a tiny amount for savings. They cannot even qualify to open a credit card. They cannot even be approved for a formal loan.

At least 77% of my countrymen are unbanked. Around 60% of which cannot do so primarily because they don't have the money for it.

My point is that your situation is not as insurmountable as ours. You'll have better days to come. Sooner.
 

Lewis

New member
The biggest problem is that schools do not educate us financially.
We are not able to get huge risks and make our investments from our early years of live and accomplish to be financially independent as earlier as we can.
 

Sam

New member
I really don’t understand why people use credit cards. Mortgages are often the only option, about also in doubt.
Probably the main problem of our generation is the inability to accumulate funds, because there are so many temptations.
 

Quentin

New member
Not everyone can be finacially at age 30, we have different cultures and life is not a race. Credit cards are a good thing if you know how to use it, you can use it to farm credit score which will help you when you want to do a car or housing loan. Regarding cultures, each country also has a different cost of living and we have a unique priorities. The best thing that you can do is become a better version of yourself and let the reputation be the model for others to follow.
 

Duke

New member
I am so sick of people. Doing stuff that they don't understand. They try to beat the "coin" on a long one (as we know, the stock market is growing on average, but currencies behave quite randomly). Why can't they put off most of their scholarship at 18-22, then up to 26 most of their salary, live without credit cards and become financially free by 30? Why do people always blame migrants and unemployment, but only consume? How does it work, explain...
Everyone wants to become rich and financial freedom before the age of 30. But importantly, their ability will be different from those of financial learners like us. they may be more interested in manual or sell jobs, so they will not think about investing early because they do not have much knowledge there. We are known crypto and this is a harsh financial market full of opportunities. We have the knowledge of finance so we will understand clearly what are the steps to financial freedom. so we won't be able to blame other people, each with different strengths.
 

Aarav

New member
Not everyone can be finacially at age 30, we have different cultures and life is not a race. Credit cards are a good thing if you know how to use it, you can use it to farm credit score which will help you when you want to do a car or housing loan. Regarding cultures, each country also has a different cost of living and we have a unique priorities. The best thing that you can do is become a better version of yourself and let the reputation be the model for others to follow.
Very well said. And if you try to live in the country side or rural area, you will find that life is so simpler. And you can be happy with small things. But if you are in the city, it is like your life is always on the go. Achieving material things will make your life miserable. Try living with people who are not equipped with material things and you will understand that you don't need those things to live in peace and contentment.
 

Apollo

New member
Blaming is everywhere and in every country. Even the good citizens will have their means to blame something whenever something bad happens inside or outside the government.

And as for financial freedom, this ain't easy to achieve. We have different capacities and plans as we go 30. Some are just starting to realize that they shouldn't be stuck in one place and becomes late in their careers. We have different timelines of success. Others can go as early as 30 whilst others, 40s onwards.
 

Howard

Member
I really don’t understand why people use credit cards.
Credit cards are great if used responsibly. If you get a 0% card with a long term, it is the perfect and cheapest way to resolve any temporary cashflow problems. They also provide insurance for certain purchases (e.g. foreign travel), which you don't get with say a normal debit card. Credit cards can have huge benefits. The problems only start if a) you have a bad credit record and can't get a good card, or b) you use a credit card as "free money", and are irresponsible and fail to pay the card off...
 

Jesiah

Member
To be financially free, one needs financial intelligence and the mastery of money without Which, every penny will be blow off. In some nations of the world, there are really no good opportunities for the younger generation hence they engage in mini jobs that leave them been slave to money.
 
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