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(CNBC)   Rich douche who cosplayed poor once lectures young people on make believe spending   (cnbc.com) divider line
    More: Stupid, Jim Cramer, Mad Money, Investment, CNBC, Mutual fund, young adults, Kudlow & Cramer, Index fund  
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2022-06-24 7:02:52 PM  
I save 12% of my income and have enough to not live paycheck to paycheck.

When this asshole was in his 20s, the hourly minimum wage had a buying power of between $11-14 in today's dollars.

Inflation and debt spirals are keeping people poor, especially people my age who have $50,000 in student loan debt and can't even get a job at Starbucks with a bachelor's degree.
 
TWX
2022-06-24 7:09:09 PM  
Subby sounds like someone who spent money on things or experiences that were optional and doesn't have money now, and is bitter.

In my late teens and early twenties I saw firsthand my friends spend their money poorly.  And I'm not even simply talking about paying for wants that I didn't value, I'm talking about people buying wants before having earned enough to pay for needs like food, rent, utility bills.  I saw friends buy that new 3dFX video card at several hundred bucks and subsequently be late on rent.  Sure, it sucks when others have nice things that one can't afford, but there will always be nice things that some in one's group of friends that one cannot afford.

It is fun to go out drinking with one's friends.  It's fun to go out to eat.  It's nice to not have to cook for one's self and to instead get takeaway or delivery.  But it's expensive to do those things too, and coming to rely on those and many others as regular occurrences is a recipe for someone without a lot of income to be perpetually broke.
 
TWX
2022-06-24 7:19:13 PM  

baronbloodbath: I save 12% of my income and have enough to not live paycheck to paycheck.

When this asshole was in his 20s, the hourly minimum wage had a buying power of between $11-14 in today's dollars.

Inflation and debt spirals are keeping people poor, especially people my age who have $50,000 in student loan debt and can't even get a job at Starbucks with a bachelor's degree.


At my prior public-sector job, two of the department secretaries through the years had master's degrees.  And one secretary in between them had been the airhead receptionist at a tanning salon.

A degree is only worth something if there's a demand for the skills verified by the degree.  For some jobs there's broad consensus that a degree or multiple degrees are absolutely necessary, like practicing medicine or working as a professional engineer who certifies designs and whose reputation is on the line.  For other jobs a degree might not matter much until reaching higher levels.  In IT, no one just starting out needs a degree.  A degree doesn't really start to matter until one gets towards senior management.  Those without one will probably run into a glass ceiling beyond managing small to mid-sized teams.  In other lines of work there are far too many people graduating for the amount of work in the field.  Many graduates will never work in their fields.  Fields like journalism for example, or English Literature, or European History.  Some graduates will find work, but many will not work in those fields, there's simply no demand.

And for many lower end jobs, like working as a barista, a degree could even hurt a candidate, if the hiring manager has had trouble with folks with degrees in the past questioning their instructions then they might be disinclined to hire those with degrees going forward.  Not worth the trouble.

Sorry that you got conned into paying for something that's very, very expensive and isn't providing a return on investment.  Perhaps you should seek out a trade.  Maybe you'll be able to move out of being a worker and into a managerial position because of that degree while your fellow tradesmen are stuck laboring until retirement.
 
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