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Do you know personally know someone that has absolutely no understanding of money?
Posted on 2/22/24 at 6:32 am
Posted on 2/22/24 at 6:32 am
My ex wife was like this. If we had $1 in our checking account the day before payday, she was good. I started having a portion of my paycheck go into a savings that she couldn't touch and after a little over a year, I had $5,500. I made the mistake of mentioning this to her when we were planning our vacation. Summer was coming up and expected to use maybe $1,500 or so to take our vacation. Nope, she wanted to book this trip that cost $5,200.
She said $300 was plenty enough for savings. We've been divorced now for a while and she's still driving a 2000 Ford Expedition so I see things haven't changed for her.
She said $300 was plenty enough for savings. We've been divorced now for a while and she's still driving a 2000 Ford Expedition so I see things haven't changed for her.
54
Posted on 2/22/24 at 6:34 am to Jenious
Yep, for 31 years and counting.....
Posted on 2/22/24 at 6:34 am to Jenious
Yes and it’s a frightening amount.
Posted on 2/22/24 at 6:34 am to Jenious
My ex-wife, that’s why she’s my ex-wife.
Posted on 2/22/24 at 6:38 am to Jenious
My wife isn't that bad but yeah she can be a lil loose with money. We have a joint savings account for major expenses that we both contribute a % of our income to. It's there if we have to fix a vehicle, air conditioner, etc. She wants to use ALL of it to remodel the bathrooms. The bathrooms are perfectly functional, just dated.
Posted on 2/22/24 at 6:49 am to Jenious
Oddly enough and despite their earning capacity, doctors are notorious for spending $2 for every $1 and being cash poor. Just goes to show you that, even at the higher end of the spectrum, some of our problems are rooted in spending rather than earnings.
Posted on 2/22/24 at 6:52 am to Jenious
quote:
She said $300 was plenty enough for savings. We've been divorced now for a while and she's still driving a 2000 Ford Expedition so I see things haven't changed for her.
Much of this is a learned behavior. It would not surprise me if someone close in her family that she grew up with lived that way.
Posted on 2/22/24 at 6:56 am to Jenious
Most marriages have one person who is way more financially literate than the other. I’m a CPA so it’s me in ours, but it’s the female in a lot also. I’m coming up on 35 years.
Posted on 2/22/24 at 6:58 am to Jenious
My wife makes a nice salary and money always seems to find her. She also spends it at the same rate.
Posted on 2/22/24 at 7:01 am to Jenious
My sister. She has no idea what she has or where what she has goes. Pretty sad and not correctable. She once had credits with some of the local utility companies because she could never keep track of bills and would just send an inflated payment to cover the month. I have tried to help but couldn’t get it to stick.
Posted on 2/22/24 at 7:03 am to Jenious
quote:
Do you know personally know someone that has absolutely no understanding of money
Considering most Americans live paycheck to paycheck and about half have less than $1000 in savings, I would say pretty much everyone here knows someone that is cluelss with money.
Posted on 2/22/24 at 7:05 am to Jenious
Yes.
My former business partner, hence former.
My former business partner, hence former.
Posted on 2/22/24 at 7:06 am to Jenious
Friend of mine used to be like that. Guy was single making $80k+ and would bitch about living paycheck to paycheck. He bought new videogames and systems all the time, went out to nice restaurants every single day, and drove an expensive car. Of course it was America that was the problem and not his reckless spending.
I don’t think my wife understands money, but not “absolutely no understanding.” I take care of it all, so why would she have developed financial literacy?
I don’t think my wife understands money, but not “absolutely no understanding.” I take care of it all, so why would she have developed financial literacy?
Posted on 2/22/24 at 7:18 am to Jenious
My youngest until he got a grown up job.
Be understands it very well now that he owns his own business
Be understands it very well now that he owns his own business
Posted on 2/22/24 at 7:22 am to Jenious
Many people. I have friends that clear close to 20K after taxes and are living paycheck to paycheck. They have declared bankruptcy twice before and yet they continue to spend like drunken sailors. I don't get it and I would think they learn thier lesson ,but nope. What really baffles me is that they are required to have a security clearance for thier job. When I worked in the US my job required a security clearance and I was always told that bad credit and/or bankruptcy can disqualify you from a security clearance. Apparently that is not the case.
Posted on 2/22/24 at 7:30 am to stelly1025
quote:
I have friends that clear close to 20K after taxes
quote:
they continue to spend like drunken sailors
So is the 20K per week/month/year?
Posted on 2/22/24 at 7:33 am to Jenious
It sounds like she understands money very well, she just doesn’t give a shite about saving any of it
Posted on 2/22/24 at 7:34 am to Dixie Normus
quote:
Oddly enough and despite their earning capacity, doctors are notorious for spending $2 for every $1 and being cash poor. Just goes to show you that, even at the higher end of the spectrum, some of our problems are rooted in spending rather than earnings.
Most ppl don’t understand that it’s relative at different levels. Make more money you’ll just spend more money.
Posted on 2/22/24 at 7:36 am to Jenious
My mother
She has never paid a bill in her life, and when my parents got divorced she had checks bouncing and all sorts of shite go wrong, our car got repossessed, neighbors had to buy us groceries because she had no concept of how to save any money or budget for things
She has never paid a bill in her life, and when my parents got divorced she had checks bouncing and all sorts of shite go wrong, our car got repossessed, neighbors had to buy us groceries because she had no concept of how to save any money or budget for things
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