I never realized how financially irresponsible many people are

[winb83]

until i watched the Suze Orman show. the show is unintentional comedy especially the Can I Afford It part.

they had this chick on there. just got a phd and has $100K is Student loan debt talking about buying a 2012 Benz that cost $33K with no money to buy the damn car on hand. she was gonna take out a loan to buy it never mind all the student loan debt she deserves a Benz for working hard through school.

people call in talking about wiping out their entire life savings to take trips, buy cars, having weddings, and other dumb things.

they also do a breakdown of living expenses on that segment and very rarely do people's living expenses not add up to what they make in a month.

one chick calls up and wants to wipe out her 401K to pay off credit card debt even paying the penalties and taxes which is why it would have been wiped out.

 

[⠀⠀⠀]

suzie orman is whats wrong with america.

most successful and rich business people hate her too

 

[Easy-E]

Dude, I'm realizing how financially irresponsible I am

@ my spending, over the last 2 years

 

[winb83]

suzie orman is whats wrong with america.

most successful and rich business people hate her too

if people did some of the shyt the says do they'd be better off. i'm not saying she as all the answers but honestly listening to her on basic principals (8 month emergency fund you don't touch, pay off all credit card debt, avoid student loans and especially private student loans, max contribute to 401K and don't touch it)

a lot of what she says is good sense. its obviously isn't common because many people aren't doing it.

 

[kevm3]

people need to learn how to think independently. "Get that education by any means necessary."

That 100k debt is a MONSTER and you cannot default on student loans. 100k is nearly the price of a house down round these parts. Problem in this day and age is that people live off of cliches. Get as much education as you can and everything will take care of itself. Go to school and you will be fine. If I have kids, I won't ever tell them anything like that. I will tell them, when you go to school, before you get in, you better have an idea of what you want before you get out and you need to efficiently tailor yourself towards getting that. Do NOT take out excessive loans and make sure you have some tangible idea of what sort of returns you will be getting with each advancing level of education compared to the debt it will require.

Having little to no debt and making less salary can be more profitable and much more liberating than making more salary and yet being overloaded with a ton of debt. Compounding interest and the time value of money will tell you that.