Why do Americans pretend they're not broke when most Americans are in debt?
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I am absolutely beyond broke on paper. My debts are well into the six figures and my bank account is in the low five figures.
I'm in my 40s and have a whopping $15k for retirement and no assets.
It's pretty awesome.
I've been there. It sucks. But it was possible for me to get out. It took years. Be careful, and be ready to catch any luck that might come your way.
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Ok, not an exact answer, but... In 2008, John Oliver had a bit that I thought captured the US culture of consumerism. He basically said that many countries could invent or even build an inflatable BBQ - but only Americans would actually buy an inflatable BBQ. Anywho, spending money, independent of whether a person has it, seems to be a cultural phenomenon in the US.
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Ok, not an exact answer, but... In 2008, John Oliver had a bit that I thought captured the US culture of consumerism. He basically said that many countries could invent or even build an inflatable BBQ - but only Americans would actually buy an inflatable BBQ. Anywho, spending money, independent of whether a person has it, seems to be a cultural phenomenon in the US.
Country Last Previous Unit
Norway 210 206 %
Luxembourg 187 182 %
Netherlands 181 184 %
Canada 171 173 %
New Zealand 169 168 %
Denmark 169 174 %
Sweden 151 156 %
Finland 108 112 %
Cyprus 97.14 105 %
Belgium 95.93 102 %
France 95.35 102 %
Euro Area 93.09 96.79 %https://tradingeconomics.com/country-list/households-debt-to-income
Can't find US on there but I am know it ain't first.
Debt is the westoid material condition... The quality of life people enjoy requires it.
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Honestly, not being a dick and caveat for me not knowing shit about you, but if you are curious enough about the topic to ask, you should take a quick finance course. Not like enroll in college or anything. I wanna say there are tons and tons of free to access resources for learning how debt and assets work that will undoubtedly improve how you manage your own money.
Just to save the search (I use Udemy the most but definitely have not checked out all of these platforms personally, so do yo own due diligence lol)
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PERSONAL FINANCE FOR SELF-RELIANCE COURSE - In our course of working with and developing courses in personal finance, we found that the best beginning program had already been developed. As such, we have received permission from the Church of Jesus Christ of Latter-day Saints to use their Personal Finances for Self-Reliance program materials on this website.
-
MONEY WISE FINANCIAL COURSE - This beginning course gives you a broad introduction to the many different areas of personal finance, with the hope that you will continue your study to understand better the topics covered in this website.
- At the end of this course, students will be able to...
- Build excellent credit
- Manage debt, including student loans
- Invest wisely and effortlessly
- File a tax return
- Get a great bank account
- Understand credit cards
- Understand and get six types of insurance
- Make a spending plan
- Buy a car
- Find a great apartment
- Buy a house
- Get a jump start on retirement
- Save for college
- Get out of credit card debt
- Avoid identity theft and fraud
- Understand an estate plan
- Navigate dating and finances
- Navigate marriage and finances
- Navigate children and finances
- Navigate divorce and finance
- August 21, 2024 - MIT Open Learning
- Explore the foundations and practical applications of finance for your personal and professional development.
Fuck it, lol, here is a link to a list of 30 free financial courses for all types of financing.
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I am absolutely beyond broke on paper. My debts are well into the six figures and my bank account is in the low five figures.
I'm in my 40s and have a whopping $15k for retirement and no assets.
It's pretty awesome.
I had $17k in the 401k when I was laid off from my last job - it had been twice that but there was that big collapse. Raised a lot of kids and couldn't put much away. Always something but never much. That was in my 40s.
I am dug out now, mostly, in my 50s, not to the point I think I'll retire but oh my God when I look at the difference between them and now it's crazy, there is so much more.
I just want to say, don't give up hope. I would never have dreamed that this would turn around and it did. And the kids grew up too.
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Honestly, not being a dick and caveat for me not knowing shit about you, but if you are curious enough about the topic to ask, you should take a quick finance course. Not like enroll in college or anything. I wanna say there are tons and tons of free to access resources for learning how debt and assets work that will undoubtedly improve how you manage your own money.
Just to save the search (I use Udemy the most but definitely have not checked out all of these platforms personally, so do yo own due diligence lol)
-
PERSONAL FINANCE FOR SELF-RELIANCE COURSE - In our course of working with and developing courses in personal finance, we found that the best beginning program had already been developed. As such, we have received permission from the Church of Jesus Christ of Latter-day Saints to use their Personal Finances for Self-Reliance program materials on this website.
-
MONEY WISE FINANCIAL COURSE - This beginning course gives you a broad introduction to the many different areas of personal finance, with the hope that you will continue your study to understand better the topics covered in this website.
- At the end of this course, students will be able to...
- Build excellent credit
- Manage debt, including student loans
- Invest wisely and effortlessly
- File a tax return
- Get a great bank account
- Understand credit cards
- Understand and get six types of insurance
- Make a spending plan
- Buy a car
- Find a great apartment
- Buy a house
- Get a jump start on retirement
- Save for college
- Get out of credit card debt
- Avoid identity theft and fraud
- Understand an estate plan
- Navigate dating and finances
- Navigate marriage and finances
- Navigate children and finances
- Navigate divorce and finance
- August 21, 2024 - MIT Open Learning
- Explore the foundations and practical applications of finance for your personal and professional development.
Fuck it, lol, here is a link to a list of 30 free financial courses for all types of financing.
No idea who down voted you but holy shit, some people om here resent the idea of having to educate themselves.
Hopefully threat actors but JFC
Do we have a personal finance community on fedi?!
I am sure there is enough middle age cucks here to provide proper info for specific questions.
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I've been there. It sucks. But it was possible for me to get out. It took years. Be careful, and be ready to catch any luck that might come your way.
That's all we can do here. Sadly only some of us will be able tobreak out.
But if everyone did their best, it would deny owners so. i profit at least.
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How else are we supposed to know who's better than who?
I thought you guys used race and gender for that?
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How else are we supposed to know who's better than who?
The Jones's are a bunch of chatty kathy pricks.
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If you own a house or vehicle in the USA there's a good chance you're in debt.
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I thought you guys used race and gender for that?
Oh that too. We make sure to remind the poor white folk they are still better than rich black people
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In debt doesn’t mean you’re broke. Not having money to spend is being broke. I’m pretty sure most Americans will admit they’re in debt.
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Oh that too. We make sure to remind the poor white folk they are still better than rich black people
You said people and folk, but I think you meant men.
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The Jones's are a bunch of chatty kathy pricks.
Yeah, but they have a hot tub.
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Country Last Previous Unit
Norway 210 206 %
Luxembourg 187 182 %
Netherlands 181 184 %
Canada 171 173 %
New Zealand 169 168 %
Denmark 169 174 %
Sweden 151 156 %
Finland 108 112 %
Cyprus 97.14 105 %
Belgium 95.93 102 %
France 95.35 102 %
Euro Area 93.09 96.79 %https://tradingeconomics.com/country-list/households-debt-to-income
Can't find US on there but I am know it ain't first.
Debt is the westoid material condition... The quality of life people enjoy requires it.
Yeah, I was wondering about the US too. Also, I was expecting to see debt:income more like 30%. Am I reading this list wrong?
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I owe nothing!
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Maybe the real curency was the debt we found along the way?
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Yeah, but they have a hot tub.
I mean, I have a hot tub. Granted, it been sitting on its side for about 5 years, the critters have claimed it as their own and now live inside, and the siding is rotted to hell, but it's there.
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You said people and folk, but I think you meant men.
Its implied.
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Right? Who the fuck has a house?
I do, but I bought it used.
