Broke Liberals

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[–]Zapped 13 insightful - 2 fun13 insightful - 1 fun14 insightful - 2 fun -  (5 children)

It doesn't only pertain to liberals. Managing personal finance is a skill, just like any other life skill. We live in a time of cheap "stuff". The problem, I think, is over consumption, as your meme says. So many people don't understand that marketers are fighting to get you to spend your money on their wares, plus financiers are trying to get you to spend your future money on a lesser amount of their current money. This should be part of the school curriculum.

[–]madcow-5 5 insightful - 1 fun5 insightful - 0 fun6 insightful - 1 fun -  (4 children)

Agreed. People have been saying they should teach personal finance in schools since I was a child, but apparently it never happens.

[–]just_lesbian_things 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (3 children)

We had an afternoon workshop with a tax form. But what is there to know about personal finance? All the information is available online. The most complicated concept is exponential growth in terms of investments and compound interests and maybe percentages in terms of inflation and tax. The most immediate stuff is just addition and subtraction. The rest is self control. People can't do that, won't look up basic information, and then complain about not getting hand held and spoon-fed. If you can't think for yourself, you're going to get fucked over, because nobody else is going to be looking out for your best interest.

[–]Zapped 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (2 children)

I have faith in people. I've had mentors who have helped me along the way and now I'm in a position where I can mentor. There is no handbook that you are given when you pop out of the womb. Finance and numbers don't come easy to a lot of people. That doesn't mean they're lazy. I have a friend who is an accountant and she reads financial statements like the Nebuchadnezzar crew reads code in The Matrix. That is a skill that takes years of education. So, someone who has instant versus delayed gratification tendencies may have trouble learning budgeting or opportunity costs on their own.

[–]just_lesbian_things 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

I have a friend who is an accountant and she reads financial statements like the Nebuchadnezzar crew reads code in The Matrix.

You don't have to be that good to do basic budgeting and not overspend. I don't even look at my financial statements unless there's a problem. I know the general ballpark of how much I spend per month and make sure to keep it below my paycheck, keep an emergency fund, and send the surplus to my investment portfolio at the end of the month. Is there really all that much more to do?

[–]Zapped 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

Good for you! Not everyone gets it that easily. It's common sense for some. Some people are better in social settings and communication. Some are better at leading. Some are better at looking ahead. We all have our strengths and weaknesses, as well as different wants and needs.