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re: The system is designed to keep people poor
Posted on 5/27/26 at 2:26 pm to anc
Posted on 5/27/26 at 2:26 pm to anc
Ask her if it is worth working first 2 hours of each week (in a 40 work week) for free to have more frequent cash deposits.
More important, teach her how the cash advance service is able to do so while likely working less than 40 hours each week in doing so. They are The Richest Man in Babylon (have her read it!).
More important, teach her how the cash advance service is able to do so while likely working less than 40 hours each week in doing so. They are The Richest Man in Babylon (have her read it!).
0
Posted on 5/27/26 at 2:32 pm to anc
If it’s optional then it’s not really “The System”.
Posted on 5/27/26 at 2:32 pm to anc
Wife works retail, with the big benefit being health insurance.
They gave her a card and she "pays herself" using the card. Since I pay all the bills, she rarely pays herself. She probably gets about 10% of her pay, putting everything else into investments.
Retail doesn't pay well, but last year I had a little over $1.0m in medical expenses and I did not pay a nickel to anyone (I had an expensive series of infusions and the drug company gave me a co-pay card).
They gave her a card and she "pays herself" using the card. Since I pay all the bills, she rarely pays herself. She probably gets about 10% of her pay, putting everything else into investments.
Retail doesn't pay well, but last year I had a little over $1.0m in medical expenses and I did not pay a nickel to anyone (I had an expensive series of infusions and the drug company gave me a co-pay card).
Posted on 5/27/26 at 2:54 pm to Ace Midnight
quote:
Wealth (for nearly all wealthy people) is the cumulative result of good decision-making over a lifetime and sometimes over generations.
Poverty, likewise, is the cumulative result of bad decisions.
All of this. Blaming "the system" and "rich" people is how the second group justifies their lot in life and removes any personal accountability.
No one is poor because someone else is successful.
Posted on 5/27/26 at 2:54 pm to anc
many businesses are doing this pay per day just to keep employees. It's slowing growing.
EDIT: most will still end up with less money bc they will just spend it when they get it. It's about what a kid was taught.
EDIT: most will still end up with less money bc they will just spend it when they get it. It's about what a kid was taught.
This post was edited on 5/27/26 at 2:56 pm
Posted on 5/27/26 at 3:18 pm to DrrTiger
quote:
My kid worked part-time for 2 years in high school and has $13k in a Roth IRA.
Plot twist: your kid is now 40.
Posted on 5/27/26 at 3:36 pm to Chucktown_Badger
quote:
No one is poor because someone else is successful
I'm going to be less sarcastic and just say that I think there are plenty of people in America who are rich mostly because they took advantage of others, and also plenty of people whose poverty has a lot to do with the fact that they've been taken advantage of.
This post was edited on 5/27/26 at 4:04 pm
Posted on 5/27/26 at 4:08 pm to FliesByNight
quote:
Plot twist: your kid is now 40.
Sadly, he would probably still be ahead of many.
Posted on 5/27/26 at 4:35 pm to Salmon
quote:
How is this the system's fault?
It’s not. Now, taking advantage of dumb people is what makes the world go around.
Posted on 5/27/26 at 4:54 pm to anc
That scenario had nothing to do with “the system” and everything to do with a payroll company capitalizing on the immediate gratification generation.
Posted on 5/27/26 at 4:56 pm to anc
quote:
My kid worked part-time for 2 years in high school and has $13k in a Roth IRA.
Now ask yourself why there’s an annual limit to invest in your Roth or 401k…
Posted on 5/27/26 at 5:03 pm to anc
quote:
but most everyone she works with is taking daily deposits
Dumb people make dumb financial decisions. News at 11. Probably followed by a $30 DoorDash order.
Posted on 5/27/26 at 5:06 pm to Salmon
quote:
How is this the system's fault?
My argument would be, especially when you consider lifeguards are almost always going to be kids under the age of 25, they're taking advantage of the lack of a fully developed frontal lobe (where we develop skills of decision making, impulse control, etc).
Posted on 5/27/26 at 5:10 pm to BluegrassBelle
I'd hardly call this taking advantage of anyone unless you also consider cash app allowing for an instant deposit for a fee vs standard transfer, taking advantage of people too.
Posted on 5/27/26 at 5:12 pm to GoCrazyAuburn
quote:
I'd hardly call this taking advantage of anyone unless you also consider cash app allowing for an instant deposit for a fee vs standard transfer, taking advantage of people too.
The employer has the option of choosing a payroll system that doesn't do that shite. If I employed mostly teens, I'd probably be aware of that.
If they were all fully developed adults, then I'd agreed that there's no excuse. But it's no coincidence they chose that payroll system while employing kids.
Posted on 5/27/26 at 5:12 pm to TexasTiger08
quote:
We have people that pay for apps that tell them how much money they waste on other apps and subscriptions
I’m glad I’m not the only one who realizes this when those commercials play. It blows my mind how someone doesn’t know what services they’re subscribed. How do you never check your online banking? It’s not rocket science.
Posted on 5/27/26 at 5:16 pm to anc
No its designed to part stupid people with their money
Posted on 5/27/26 at 5:19 pm to BluegrassBelle
quote:
My argument would be, especially when you consider lifeguards are almost always going to be kids under the age of 25, they're taking advantage of the lack of a fully developed frontal lobe
There is a missing argument in your equation which could easily mitigate poor financial behavior from children, who also will gladly sign up for a 100k in student loans for their basket weaving degree. I can't put my finger on it.
Posted on 5/27/26 at 5:20 pm to BluegrassBelle
quote:
But it's no coincidence they chose that payroll system while employing kids.
they already have a regular payroll system...no one is required to use the app...
quote:
She can get her paycheck for hours that she worked the next day, but it charges around 5% to do this. Of course that's dumb so she just waits until traditional direct deposit day, but most everyone she works with is taking daily deposits.
Posted on 5/27/26 at 5:23 pm to pussywillows
quote:
they already have a regular payroll system...no one is required to use the app...
And it sounds like her parent probably had that conversation with her.
Just recognizing that not everyone has that. We shouldn't be trying to scam kids who are trying to actually work.
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