But if you marry the wrong person, get a divorce asap. If he/she is a cheater or spends money wantonly, or is an addict, pull the plug before kids. Don’t hang on thinking it will change. It gets worse.
Thanks for saying the obvious, John. It may not be the popular thing to do, but telling the truth is often unpopular.
Let me add a few more specific suggestions:
1. Unless you’re making NFL money, don’t get tattoos. They’re expensive, pointless, and frequently become barriers to getting better jobs. Everyone sees people who are struggling but had to have spent thousands of dollars on tattoos. It’s just stupid.
2. If you’re struggling, don’t go out and get a huge dog that requires $50 a week of dog food. That’s real money.
3. Stay in school, at least through high school. It’s not just the education, but getting that HS degree or a college degree shows potential employers that you can stick with and finish things you start.
4. Don’t do drugs. Sure rockstars and celebrities do them all the time but they already have money. If you don’t, drugs (and too much alcohol) will not only eat up the little money you have, but they make it less likely that you will make it to work and do what you’re getting paid to do.
5. Accept that you’ll take direction from others for a long time, maybe your whole career. There’s nothing wrong with that. They’re paying you to do what they want. Accept it and understand it’s often easier to follow the direction of others than be the one who has to make the decision and be responsible for that decision.
6. Find a job you like. If you can wake up on Sunday and not dread Monday, you’ll enjoy the whole weekend, which makes the five day work week so much easier.
That's good advice. I will especially note that dogs are a lot more expensive that you think. The food, the vet bills, the toy. I take my dog to doggie daycare once per week. $30. When I go on a trip? $30 per day to keep her. End of life vet bills are like human bills were 25 years ago. It can easily add way up into the thousands.
I have seen repeatedly young people with barely any money get an apartment which they can barely afford and then get a huge dog which they definitely can’t afford. I never understood that!
I love dogs, but yeah, taking care of a dog is a big expense and a big commitment in generally. I would definitely advise people to think carefully before they take one in.
You are so right about the tattoos! I always shake my head when I hear someone complain about being broke and needing some form of assistance when they have a sleeve or look like Asimov's "illustrated Man." Of course I also think it reflects on their wisdom and their inability to look down the road. Do you really want your fiance to have a heart shaped tattoo with some other dude's name in it- probably not, so there goes how much money for laser removal? Drugs and alcohol- you can blow a ton of money stopping at a bar a couple of nights a week; drinks are terribly expensive. Any elderly pet can burn cash like a bonfire because you love them so much you'll spend what it takes to keep them around. Good comment, thanks Urs!
I would put not having kids at the tippy top of this list. In fact, for women, (which this was clearly not intended for based on your language) not procreating or delaying procreation and getting a good education are the top two ways to get out of and/or stay out of poverty.
Yes, this is reality. You sometimes have to start at the bottom, but you don't have to stay there. Frugal living is the key, and you learn how to do that when you are poor, at least I did. Work overtime; at time and a half your paycheck grows quickly. Shop at thrift stores, when your poor used clothes are just fine. I bought beater cars and fixed them up; I've only purchased one new, very reliable, car in my entire life. Einstein was right when he said; "compound interest is the most powerful force in the universe." Like you wrote, invest some money someplace safe when you are young and leave it; it's stunning how big it will get and how fast it grows by the time you are in your sixties!
Somewhere there is a saying….China maybe….’happiness is having $10 income and $9 expenses. Misery is having $9 income and $10 expenses’. Get your nut down (bare living).
Buy a house in a reasonable neighbourhood. Rent increases never stop. I am 74. I know so many seniors who never bought. They made good money, lived well, and they can’t afford rent. If they had bought thirty years ago they’d have free living now.
Don't get divorced. Be married to the right person.
I would have included that one, but then it's, "How do you know it's right person?" I have no idea what the answer to that is in 2025.
But if you marry the wrong person, get a divorce asap. If he/she is a cheater or spends money wantonly, or is an addict, pull the plug before kids. Don’t hang on thinking it will change. It gets worse.
Thanks for saying the obvious, John. It may not be the popular thing to do, but telling the truth is often unpopular.
Let me add a few more specific suggestions:
1. Unless you’re making NFL money, don’t get tattoos. They’re expensive, pointless, and frequently become barriers to getting better jobs. Everyone sees people who are struggling but had to have spent thousands of dollars on tattoos. It’s just stupid.
2. If you’re struggling, don’t go out and get a huge dog that requires $50 a week of dog food. That’s real money.
3. Stay in school, at least through high school. It’s not just the education, but getting that HS degree or a college degree shows potential employers that you can stick with and finish things you start.
4. Don’t do drugs. Sure rockstars and celebrities do them all the time but they already have money. If you don’t, drugs (and too much alcohol) will not only eat up the little money you have, but they make it less likely that you will make it to work and do what you’re getting paid to do.
5. Accept that you’ll take direction from others for a long time, maybe your whole career. There’s nothing wrong with that. They’re paying you to do what they want. Accept it and understand it’s often easier to follow the direction of others than be the one who has to make the decision and be responsible for that decision.
6. Find a job you like. If you can wake up on Sunday and not dread Monday, you’ll enjoy the whole weekend, which makes the five day work week so much easier.
That's good advice. I will especially note that dogs are a lot more expensive that you think. The food, the vet bills, the toy. I take my dog to doggie daycare once per week. $30. When I go on a trip? $30 per day to keep her. End of life vet bills are like human bills were 25 years ago. It can easily add way up into the thousands.
I have seen repeatedly young people with barely any money get an apartment which they can barely afford and then get a huge dog which they definitely can’t afford. I never understood that!
I love dogs, but yeah, taking care of a dog is a big expense and a big commitment in generally. I would definitely advise people to think carefully before they take one in.
You are so right about the tattoos! I always shake my head when I hear someone complain about being broke and needing some form of assistance when they have a sleeve or look like Asimov's "illustrated Man." Of course I also think it reflects on their wisdom and their inability to look down the road. Do you really want your fiance to have a heart shaped tattoo with some other dude's name in it- probably not, so there goes how much money for laser removal? Drugs and alcohol- you can blow a ton of money stopping at a bar a couple of nights a week; drinks are terribly expensive. Any elderly pet can burn cash like a bonfire because you love them so much you'll spend what it takes to keep them around. Good comment, thanks Urs!
Especially when you’re on a tight budget!
#1
I would add the following:
Don't smoke, vape, or drink booze. That stuff ain't cheap, especially when you're hooked on it. This applies to illegal drugs as well (duh).
Absolutely 💯
The author gives much of the same advice I gave my children. I can’t teach you how to become rich, but I can teach you how NOT to become poor.
People who didn’t learn this from their parents may not learn it ever.
I would put not having kids at the tippy top of this list. In fact, for women, (which this was clearly not intended for based on your language) not procreating or delaying procreation and getting a good education are the top two ways to get out of and/or stay out of poverty.
Yes, this is reality. You sometimes have to start at the bottom, but you don't have to stay there. Frugal living is the key, and you learn how to do that when you are poor, at least I did. Work overtime; at time and a half your paycheck grows quickly. Shop at thrift stores, when your poor used clothes are just fine. I bought beater cars and fixed them up; I've only purchased one new, very reliable, car in my entire life. Einstein was right when he said; "compound interest is the most powerful force in the universe." Like you wrote, invest some money someplace safe when you are young and leave it; it's stunning how big it will get and how fast it grows by the time you are in your sixties!
Somewhere there is a saying….China maybe….’happiness is having $10 income and $9 expenses. Misery is having $9 income and $10 expenses’. Get your nut down (bare living).
Buy a house in a reasonable neighbourhood. Rent increases never stop. I am 74. I know so many seniors who never bought. They made good money, lived well, and they can’t afford rent. If they had bought thirty years ago they’d have free living now.
Take your licks. It ain’t gonna be easy, but it is worth it. Thanks for sharing.