Soul shout

[canovan25]

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...

[jackg]

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.

[canovan25]

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?

[jackg]

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.

[canovan25]

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%.

[Darker45]

~snip~

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.

[Naida_BR]

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.

[PavelMed]

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.

[canovan25]

~snip~

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.

If it's no secret, what country? Zimbabwe? Togo? Ghana? The Democratic Republic of the Congo? Eritrea, maybe?

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.

That sounds funny to me. The main thing we have to learn is how to read and count. And the rest is left to us. Read the reports of companies and banks, study index structures, study various financial market instruments. In fact, there is so much information there that in order to fully understand all the processes and qualitative perception and processing of information it is worth to get higher education in economic disciplines.

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.

Because of what it is necessary to go to a small town or even village, so that the temptations are much less and you can collect easier, more and more efficient.

[Darker45]

~snip~

~snip~

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.

If it's no secret, what country? Zimbabwe? Togo? Ghana? The Democratic Republic of the Congo? Eritrea, maybe?

None of the above. Neither am I living in any country in the African continent.

I am living in the beautiful Philippine archipelago where young people don't dream of financial freedom by 30 for they know very well that their parents will die at 80 without ever tasting that sweet freedom.

[Lorence.xD]

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.

[leyton11]

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.

[Twinkledoe]

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.

[jossiel]

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.

[Cnut237]

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...

[Gozie51]

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.

I want to think that schools too has a fault in this. The age to start government schools is still high and before a pupil go through it and to university, the age is already gone because seeking for admission into the university also consume some years of wait and disappointment. Jobs too don't come easily so you see you are left with nothing to save before trying to be self employed. It takes extra luck for you to get some finance to start up a small business.

[omone1]

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.

[Twentyonepaylots]

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.

Basically the superiors thinks that they are too fresh to do the job well done, so most of them are placed in a basic job whose salary is the minimum, and I think it's normal depends on the degree of study. Besides we are all need to do the basic ones in order for us to learn and it's pretty normal for new seekers.

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.

Student loan is unnecessary, if you still got family house to be into then so be it, you don't need to rent or buy on your own unless you already have a family ( that's a matter of burden for me ) you got time to save enough to live on your own, no need to rush.

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.

yeah, I already see people keeping their job even they got more enough and I think it's good for them coz you would not know when the disaster of your life will come.

[beerlover]

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...

This is a loooooooong topic. However, one thing is for sure that most of the time even if you do not spend a single dime of your salary ever until your 30, you probably won't have enough money to survive a retirement unless you are a developer or another big earner. Right now the average is around 60k on USA and that is a rich country, do not forget that there is 200+ other nations as well.

If you are in USA and make 60k, from 23 or so to 30 years old that is 7 years, with 60k earning a year you are looking at 420k which is on average good enough for maybe a house, but that's about it. How do you plan on surviving after that? And do not forget that this is all thanks to you not spending a single dime of your money while earning as well. So, as you can see people can't retire at 30 even if they save everything they ever make.

[7788bitcoin]

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...

Lets start from you, how about you are you financially settled for life and you followed what you are preaching. If you graduated college without any scholarship then i would accept what you are trying to tell but not everyone will have the opportunity to settle in life by 30 years unless you are a bread above from the average population. If making money and having a financial freedom was that easy then you would not see much struggles all around the globe.