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How to Get Rich - netflix
Posted on 4/24/23 at 5:01 am
Posted on 4/24/23 at 5:01 am
Pretty good watch. Agree with 90% of what the guy says.
I’m curious though telling ol baw to sell all his DFKG stock when it’s at its lowest. I get the concept of not ‘gambling’ and getting away from chasing/trading but if you’re already in, what’s wrong with giving it some time to come back. It’s not like DFKG is a failing penny stock or anything.
I’m curious though telling ol baw to sell all his DFKG stock when it’s at its lowest. I get the concept of not ‘gambling’ and getting away from chasing/trading but if you’re already in, what’s wrong with giving it some time to come back. It’s not like DFKG is a failing penny stock or anything.
This post was edited on 4/24/23 at 5:02 am
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Posted on 4/24/23 at 6:19 am to BabyTac
It’s a fun watch. Makes my wife and I feel much better about ourselves financially.
Controversial opinion, but most of the sub par financial situations among couples would be totally eliminated if people acted like they are actually married and had one checking account.
A common theme in the show is selfishness. In our marriage we have absolutely no concept of “my money” or “my expenses”. It’s a total, wait for it, marriage.
This biblical notion of two becoming one actually checks out.
Controversial opinion, but most of the sub par financial situations among couples would be totally eliminated if people acted like they are actually married and had one checking account.
A common theme in the show is selfishness. In our marriage we have absolutely no concept of “my money” or “my expenses”. It’s a total, wait for it, marriage.
This biblical notion of two becoming one actually checks out.
Posted on 4/24/23 at 6:36 am to bayoubengals88
quote:
Controversial opinion, but most of the sub par financial situations among couples would be totally eliminated if people acted like they are actually married and had one checking account.
This - disincentivizes saving and encourages spending. Discourages promoting fiscal responsibility for the other person because “it’s not your money”. I know several people who would be much better off if they put their bank accounts together. Someone will inevitably come in and try to argue for it, but the whole point of a married couple having separate bank accounts is to spend freely without judgement or having to ask permission of their partner. Doesn’t sound like healthy marriage to me
Posted on 4/24/23 at 7:04 am to BabyTac
quote:
How to Get Rich - netflix
Who needs Netflix to figure this out?
It's easy.
Want to be rich in the U.S.
Get elected to political office.
profit.
Posted on 4/24/23 at 7:33 am to bayoubengals88
I never understand the separate bank accounts thing. I know married couple where one pays the other rent for the mortgage. Bizarre.
Posted on 4/24/23 at 7:34 am to Upperdecker
quote:
I know several people who would be much better off if they put their bank accounts together. Someone will inevitably come in and try to argue for it, but the whole point of a married couple having separate bank accounts is to spend freely without judgement or having to ask permission of their partner. Doesn’t sound like healthy marriage to me
I know several couples that keep their money split. They definitely have a different marriage. One couple I know, the husband wants to keep the money separate and you can tell the wife wants to spend every last dime. Another, just wants to control the relationship and controlling the budget is his way of controlling her. Like you said, not healthy.
The wife and I have always had joint banking since day one. When we got married, I made way more than she did, but now both of our salaries have gone up, her way more than mine. By about double. Fortunately she has reciprocated my approach to money when we were young and doesn't hold any bias or grudge in our spending habits.
Posted on 4/24/23 at 7:50 am to BabyTac
I have followed Ramit on Twitter for a while now before the show came out. My only issue with his advice is how he is so against home ownership.
He thinks it’s better to rent unless you have 20% down AND plan to stay in the house 10 years.
He thinks it’s better to rent unless you have 20% down AND plan to stay in the house 10 years.
Posted on 4/24/23 at 8:03 am to PhiTiger1764
quote:This is probably best for most high population centers. It’s much easier to buy a house in a southern suburb if you have your shite together, but most Americans live in large cities.
He thinks it’s better to rent unless you have 20% down AND plan to stay in the house 10 years.
The thing I hate about the show is that I want to be the host!
Posted on 4/24/23 at 8:18 am to Drizzt
quote:
I never understand the separate bank accounts thing
I love when people try to argue that they trust their spouse so much that they have separate bank accounts. The cognitive dissonance is strong with most of them.
Posted on 4/24/23 at 8:19 am to WhiskeyThrottle
quote:
I know several couples that keep their money split. They definitely have a different marriage. One couple I know, the husband wants to keep the money separate and you can tell the wife wants to spend every last dime. Another, just wants to control the relationship and controlling the budget is his way of controlling her. Like you said, not healthy.
My wife and I have always had separate bank accounts, been married 9 years. You know the #1 problem married couples fight over? Money. You know a problem we have never fought over after being married for 9 years? Money. If it aint broke, don't fix it I say. Neither of us do it because we have spending problems or because we want to control the budget. To each their own!
Posted on 4/24/23 at 8:27 am to Mark Makers
We both have access to savings and investment accounts, a goal to deposit each month, but have separate checking accounts.
Nothing to do with trust as we have zero debt, no rolling credit card balances, and are both pretty frugal, but I do feel some level of independence keeps arguments over money to a minimum.
Nothing to do with trust as we have zero debt, no rolling credit card balances, and are both pretty frugal, but I do feel some level of independence keeps arguments over money to a minimum.
Posted on 4/24/23 at 8:31 am to bayoubengals88
quote:
Controversial opinion, but most of the sub par financial situations among couples would be totally eliminated if people acted like they are actually married and had one checking account.
I believe there is only 1 reason to have separate accounts. That is to hide spending/money.
I am not saying it can't work for couples but maybe having a joint account would work for the healthy couples who are currently split as well. If you can only survive as a couple due to separate bank accounts then more than likely it is just a ticking time bomb waiting to explode.
I know there are some potential business related reasons for not having both names on an account and that is obviously different from a risk perspective than your normal personal checking/savings accounts.
quote:
It’s a fun watch
May have to check it out.
Posted on 4/24/23 at 8:38 am to Upperdecker
quote:
This - disincentivizes saving and encourages spending. Discourages promoting fiscal responsibility for the other person because “it’s not your money”. I know several people who would be much better off if they put their bank accounts together. Someone will inevitably come in and try to argue for it, but the whole point of a married couple having separate bank accounts is to spend freely without judgement or having to ask permission of their partner. Doesn’t sound like healthy marriage to me
I've never understood it. I guess some people make it work but I remember there was a long OT thread on this subject and at least 30% of the replies were people who had separate accounts and would never consider joining them.
Posted on 4/24/23 at 8:46 am to JohnnyKilroy
quote:
at least 30% of the replies were people who had separate accounts and would never consider joining them.
I feel like when this topic comes up, it is mostly joined account crowd saying how this can never work, not a real marriage, etc. While the separate accounts crowd mostly says stuff like to each their own, and both ways work.
Just an observation.
Posted on 4/24/23 at 8:47 am to JohnnyKilroy
quote:
guess some people make it work but I remember there was a long OT thread on this subject and at least 30% of the replies were people who had separate accounts and would never consider joining them.
50% of marriages fail in divorce. If I had to venture, this would be one of the top reasons
Posted on 4/24/23 at 9:04 am to PhiTiger1764
quote:
feel like when this topic comes up, it is mostly joined account crowd saying how this can never work, not a real marriage, etc. While the separate accounts crowd mostly says stuff like to each their own, and both ways work. Just an observation.
There’s not a lot of argument for the separate bank accounts so yes, that’s usually how it goes. It may work for some people or it may work temporarily for some people, but joint account people don’t think it’s a viable long term solution for most
I googled this topic and found this article, and it basically makes a case for the separate bank accounts with all the reasons not to do a separate bank account
LINK
Like another poster said, all the arguments for separate accounts are either cognitive dissonance or trying to not share everything with your partner (money pre marriage, different income levels, different spending habits or spending habits the other doesn’t approve of). It’s evidence that you’re not buying into the “mine is yours and yours is mine” of marriage. And if you’re not buying into that, it’s evidence of mistrust in the partner or in the marriage. And mistrust tends to snowball and lead to divorce
I can’t imagine signing over to spend my life with someone and not trusting them with my pre-marriage savings. Seems like strong evidence that y’all don’t belong together
This post was edited on 4/24/23 at 9:09 am
Posted on 4/24/23 at 9:08 am to PhiTiger1764
quote:
I feel like when this topic comes up, it is mostly joined account crowd saying how this can never work, not a real marriage, etc. While the separate accounts crowd mostly says stuff like to each their own, and both ways work. Just an observation.
Pretty accurate.
Posted on 4/24/23 at 9:13 am to Upperdecker
I would assume that most of the people with separate accounts simply don't care enough to make the effort of closing an account, joining another, changing your auto-deposit etc etc.
You guys are way overthinking this.
You guys are way overthinking this.
Posted on 4/24/23 at 9:14 am to BabyTac
quote:
We both have access to savings and investment accounts, a goal to deposit each month, but have separate checking accounts. Nothing to do with trust as we have zero debt, no rolling credit card balances, and are both pretty frugal, but I do feel some level of independence keeps arguments over money to a minimum.
This is how we do it and it has worked very well for us. Each deposit a split of mortgage payment and bills into our "bill account" then have a separate checking accounts.
I'd be curious to see the age breakdown of couples with joint vs. split accounts. We are both right around 30 and our friends mostly have similar setups.
Posted on 4/24/23 at 9:15 am to Upperdecker
quote:
It’s evidence that you’re not buying into the “mine is yours and yours is mine” of marriage.
I agree with this. There is a LOT of people who view their paycheck as "theirs" and their spouse's as separate and distinct.
Like they may "contribute" to the joint expenses like rent/mortgage and household bills, but ultimately the money is still viewed as theirs and theirs alone to manage/spend/save as they see fit.
Weird view to have imo.
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