Author Topic: Don't understand why ppl are expected to spend everything they make...  (Read 2776 times)

blackomen

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Granted, this was from tv (2 and a half men):

https://www.youtube.com/watch?v=dMnPsBfeA_M

This guy said he was a pizza delivery boy before.  Then he found a job as a stockbroker and make a ton of money.  And when the economy crashed, he's back to delivering pizza again.

Whatever happened to saving the money when he was a stockbroker so he doesn't have to be delivering pizza again when he loses it?

slugline

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Re: Don't understand why ppl are expected to spend everything they make...
« Reply #1 on: December 28, 2018, 08:21:54 AM »
Characters saving money typically makes boring television.
Also, advertisers probably wouldn't appreciate a show that holds up financial responsibility and less consumerism as an ideal.

nereo

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Re: Don't understand why ppl are expected to spend everything they make...
« Reply #2 on: December 28, 2018, 09:23:45 AM »

Whatever happened to saving the money when he was a stockbroker so he doesn't have to be delivering pizza again when he loses it?

I know people in the financial industry.  The status quo is to spend, spend, spend in ways that are anthemia to most Mustachians. Most chase things simply *because* they are expensive, from $2k office chairs to imported stone to re-floor their foyer. Price and rarity seem to be the biggest part of the allure ."like this hand crafted bourbon?  $300 a bottle, they only make about 40 cases a year and its already sold out through 2024!"

Part of it is driven by their image - to manage people's portfolios you have to at least look a lot wealthier than they are. It's also driven by flat out greed in a world where your success is literally measured in how much client money you bring in.

I've seen hedge fund managers spend $20k+ a month for years and then go bankrupt during a downturn because they couldn't weather a few months of unemployment.  Ironic for a group of individuals that are supposed to be better at managing money than your average Joe (or mustachian).

Just Joe

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Re: Don't understand why ppl are expected to spend everything they make...
« Reply #3 on: December 28, 2018, 09:40:05 AM »
Doesn't make me want to let people like that manage any of my money...

Roadrunner53

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Re: Don't understand why ppl are expected to spend everything they make...
« Reply #4 on: December 28, 2018, 09:46:36 AM »
We have a very spendy culture. The tv blares at us night and day to buy, buy, buy. Hurry to the sales, year end bargains, get it before they are all gone. UGH! What bothers me too is buying so many toys for kids. I have a friend who buys her grandkids toys, the other grandparents buy them more, the parents buy them more. There has to be a mountain of toys in one household. The kids are bored in just hours and never play with many of them. Then the birthday parties and more gifts froml the grandparents, the parents then the kiddie parties with more toys.

You go to the stores during the month of December and it is a madhouse of people. You'd think the stores were giving the junk away! Then the after Christmas sales. After they empty the stores of the leftover Christmas junk, they ready for the next thing, Valentines day, Presidents day sales, St. Patrick's day...on and on it goes.

If you watch some of the shopping shows on tv, it is a never ending offering of house hold good you HAVE to HAVE! The host of the show will tell you he has one of everything they sell and what color he likes. SERIOUSLY! If he has one of everything, he must live in a warehouse!

nereo

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Re: Don't understand why ppl are expected to spend everything they make...
« Reply #5 on: December 28, 2018, 10:12:53 AM »
Doesn't make me want to let people like that manage any of my money...
The more I've learned about the financial industry and those behind it, the less inclined I am to allow them unfettered access to my money.

The widespread internal resistance to a 'fiduciary standard' is warning enough. I came up with my own amusing screening question: "what were you able to do with your money last year".  The majority of people I've asked have focused on the extravagant things they bought or vacations they took.

faithless

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Re: Don't understand why ppl are expected to spend everything they make...
« Reply #6 on: December 28, 2018, 01:41:55 PM »
I came up with my own amusing screening question: "what were you able to do with your money last year".  The majority of people I've asked have focused on the extravagant things they bought or vacations they took.

I'd answer holidays and maybe house buying too. Putting it in savings accounts or investments isn't a very sexy answer!

nereo

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Re: Don't understand why ppl are expected to spend everything they make...
« Reply #7 on: December 28, 2018, 02:19:13 PM »
I came up with my own amusing screening question: "what were you able to do with your money last year".  The majority of people I've asked have focused on the extravagant things they bought or vacations they took.

I'd answer holidays and maybe house buying too. Putting it in savings accounts or investments isn't a very sexy answer!
It is to me ;-)

AnnaGrowsAMustache

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Re: Don't understand why ppl are expected to spend everything they make...
« Reply #8 on: December 28, 2018, 02:44:45 PM »
A LOOOOOT of people make money out of the general population spending their full paycheck. Not to mention the small fact that it makes people reliant on employers who then get to dictate any sort of work environment they like. It's no wonder that it's encouraged. I mean if everyone in your country just did ONE FRUGAL THING A DAY, half the coffee shops and fast food outlets would go bust in 6 months.

nereo

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Re: Don't understand why ppl are expected to spend everything they make...
« Reply #9 on: December 28, 2018, 03:30:34 PM »
A LOOOOOT of people make money out of the general population spending their full paycheck. Not to mention the small fact that it makes people reliant on employers who then get to dictate any sort of work environment they like. It's no wonder that it's encouraged. I mean if everyone in your country just did ONE FRUGAL THING A DAY, half the coffee shops and fast food outlets would go bust in 6 months.

Possibly.  Or maybe it would be jewelry stores or luxury car dealerships or movie theaters. I guess its what we value spending our money on that will survive. 

I think a good illustration of how inefficient we are with our money is the amount we in the US pay in credit card interest every year: $105B. If we just paid off our cards in full each month and put that money toward retirement accounts it would go a long way towards solving our shortfall in that area.  But we want our trinkets now, even if we can't pay for them yet.

faithless

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Re: Don't understand why ppl are expected to spend everything they make...
« Reply #10 on: December 29, 2018, 04:38:53 AM »

I think a good illustration of how inefficient we are with our money is the amount we in the US pay in credit card interest every year: $105B.

Jeeping fuck!

AnnaGrowsAMustache

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Re: Don't understand why ppl are expected to spend everything they make...
« Reply #11 on: December 29, 2018, 01:25:13 PM »

I think a good illustration of how inefficient we are with our money is the amount we in the US pay in credit card interest every year: $105B.

Jeeping fuck!

Lol, gonna use that one!