Current Events > People should work and save until they can afford - not go into debt

(+) Yeah! (+)

There's too many people taking on debt for things like credit cards, cars, student loans and homes. These people should work whatever job it is that it takes until they can afford it in cash rather than go into debt and further hurl our economy into the shitter. Check out the SWEAT pledge for more info:


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Mike Rowe looks so damn smug
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Good luck getting a job without having a car.
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you're like 10 topics late on this one.
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Millionaire tells the rest of the country how to live, more at 10.
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bluezero posted...

Millionaire tells the rest of the country how to live, more at 10.

Haven't poor people just thought of making more money yet?
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MutantJohn posted...

Good luck getting a job without having a car.

Public transport exists
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bluezero posted...

Millionaire tells the rest of the country how to live, more at 10.

1. Did you read the part of the pledge about whining?
2. He's a millionaire because he followed the SWEAT pledge
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So, live in a tent for 30 years until you can pay cash for a home you could get with a mortgage now?
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This advice is not sound. Often times it's more lucrative in the long run to invest money and temporarily go into debt than to pay off everything.
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Laserion posted...

So, live in a tent for 30 years until you can pay cash for a home you could get with a mortgage now?

You'll be living in a tent after the bank forecloses on your home because you took on debt you couldn't afford to pay it
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Jiek_Fafn posted...

This advice is not sound

Look at who the TC is. Not exactly a bastion of financial wisdom

Somewhere along the way people thought they needed readily available transportation and a social life.
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Oh, you mean debt you couldn't afford to pay. It seems it's about avoiding ALL debt.
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Laserion posted...

Oh, you mean debt you couldn't afford to pay. It seems it's about avoiding ALL debt.

ALL debt is debt you can't afford. You can't afford it so you take on the debt.
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You're barring the poor from education with this rule.
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Also, where are you planting this tent for 30 years legally?
You also wait 30 years to have kids, if you want them?
Doesn't public transportation have time-of-day limitations?
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Laserion posted...

Doesn't public transportation have time-of-day limitations?

Also good public transportation really only exists in the cities. If you live in a rural area good luck.
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COVxy posted...

You're barring the poor from education with this rule.

Funny, Mike "SWEAT" Rowe was poor and worked his way to become a multimillionaire by following the SWEAT pledge. But keep making excuses.
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I'm going to explain how debt can generate growth that otherwise wouldn't exist using pb&j's as an example.

Your allowance is enough to buy 1 pb&j per day, or enough bread to make 5 per day. You choose the bread, but now you don't have peanut butter or jam. Billy has peanut butter, and he'll give you a jar today if you give him 1 pb&j for every day the next week. Sally has jam and is willing to make the same deal.

Now you have all the ingredients and can make 5 sandwiches a day. Your little brother needs a distraction so you give him a job making 2 sandwiches a day and he gets to keep one, and you make 3 a day. Then you give your friend Alex a sandwich every day because his family can't give him an allowance to afford it.

On Monday, you owe 10 sandwiches, but can only afford the bread to make 5. But that's okay, because you can carry the debt through the week. Each day you slowly pay off the debt using pb&j's earned through proper management.

In the first method (TC's advice), you can buy 1 sandwich a day and if you need another you have to work to pay it off. In this second method (carrying functional debt) you created a commodity market (Billy and Sally), employment (little brother), and paid for welfare (Alex), while maintaining the 1 sandwich you need a day to function.

I.e., the adult answer. Investment in growth generates income that can fuel further growth.

If we followed TC's advice, we'd still all be living in wooden cabins without electricity, without nearly as many of the advancements as we'd have, without nearly the wealth many nations enjoy.

Basically we'd all be in relative poverty.
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Good luck getting a job without having a car.

Hopefully your parents can drive you to your first job if they don't provide something for you. Then after six or seven weeks, you can buy somehing that runs.
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Should banks not be lending money to businesses, then?
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REMercsChamp posted...

bluezero posted...

Millionaire tells the rest of the country how to live, more at 10.

1. Did you read the part of the pledge about whining?
2. He's a millionaire because he followed the SWEAT pledge

He's a millionaire because he was a fucking tv host and the voice of Ford or what the fuck ever for years
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Soviet_Poland posted...

I'm going to explain how debt can generate growth that otherwise wouldn't exist using pb&j's as an example.

Your allowance is enough to buy 1 pb&j per day, or enough bread to make 5 per day. You choose the bread, but now you don't have peanut butter or jam. Billy has peanut butter, and he'll give you a jar today if you give him 1 pb&j for every day the next week. Sally has jam and is willing to make the same deal.

Now you have all the ingredients and can make 5 sandwiches a day. Your little brother needs a distraction so you give him a job making 2 sandwiches a day and he gets to keep one, and you make 3 a day. Then you give your friend Alex a sandwich every day because his family can't give him an allowance to afford it.

On Monday, you owe 10 sandwiches, but can only afford the bread to make 5. But that's okay, because you can carry the debt through the week. Each day you slowly pay off the debt using pb&j's earned through proper management.

In the first method (TC's advice), you can buy 1 sandwich a day and if you need another you have to work to pay it off. In this second method (carrying functional debt) you created a commodity market (Billy and Sally), employment (little brother), and paid for welfare (Alex), while maintaining the 1 sandwich you need a day to function.

I.e., the adult answer. Investment in growth generates income that can fuel further growth.

If we followed TC's advice, we'd still all be living in wooden cabins without electricity, without nearly as many of the advancements as we'd have, without nearly the wealth many nations enjoy.

Basically we'd all be in relative poverty.

So what I'm reading here:

Mike Rowe: follows SWEAT pledge, becomes multimillionaire

You: unemployed
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MutantJohn posted...

Good luck getting a job without having a car.

i did.....i got my job, worked it, and then bought my car...took the bus for over a year
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Honestly, he likely just got lucky and didn't fuck up when it mattered most.
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DevsBro posted...

Good luck getting a job without having a car.

Hopefully your parents can drive you to your first job if they don't provide something for you. Then after six or seven weeks, you can buy somehing that runs.

Is this post real
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debt can be leveraged to grow investments rapidly

but most people have stupid kinds of debt that have nothing to do with leverage or investing

Is this post real

Is there a problem with it? Not much I can tell you if you squander(ed) your teenage years.
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I'll level with TC in that on a personal level, a lot of people are personally irresponsible with their lifestyle. People working menial jobs in sales/retail without a lot of earning potential or "career status" spend their money on the latest flagship smart phone, a daily Starbucks frappucino, and other "luxuries" that contribute to their standing in life.

This happens, but is often a caricature of people's lives.

You may hear a story of someone going to an expensive, private university and graduating with $50,000 in debt, but their degree doesn't necessarily qualify them for a specific job in mind. Instead, they're loomed with creating their own potential when most aren't exactly entrepreneurial. That's a bad case of debt.

In my case, I'll graduate with $300,000 in debt from medical school. But the average anesthesiologist salary after residency varies between $250,000-$350,000/yr (and 0.8% unemployment rate = one of the highest job securities; I'm much more likely to lose a job working "whatever job it takes" to save enough due to factors outside my control).

I won't have trouble paying off my debt and my earning potential will FAR exceed the time it would have taken me to work some menial job to save enough to buy my education outright. By then, I'd already be in my 40s or 50s, and then to undertake an extra 8 years of opportunity cost before I started earning as a doctor, it just wouldn't make sense. I'd be retiring 10 years after anyway.

To make less at the end of the day to satisfy this arbitrary desire to be "debt-free" is inane.
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Soviet_Poland posted...

I'll level with TC in that on a personal level, a lot of people are personally irresponsible with their lifestyle. People working menial jobs in sales/retail without a lot of earning potential or "career status" spend their money on the latest flagship smart phone, a daily Starbucks frappucino, and other "luxuries" that contribute to their standing in life.

This happens, but is often a caricature of people's lives.

You may hear a story of someone going to an expensive, private university and graduating with $50,000 in debt, but their degree doesn't necessarily qualify them for a specific job in mind. Instead, they're loomed with creating their own potential when most aren't exactly entrepreneurial. That's a bad case of debt.

In my case, I'll graduate with $300,000 in debt from medical school. But the average anesthesiologist salary after residency varies between $250,000-$350,000/yr (and 0.8% unemployment rate = one of the highest job securities; I'm much more likely to lose a job working "whatever job it takes" to save enough due to factors outside my control).

I won't have trouble paying off my debt and my earning potential will FAR exceed the time it would have taken me to work some menial job to save enough to buy my education outright. By then, I'd already be in my 40s or 50s, and then to undertake an extra 8 years of opportunity cost before I started earning as a doctor, it just wouldn't make sense. I'd be retiring 10 years after anyway.

To make less at the end of the day to satisfy this arbitrary desire to be "debt-free" is inane.

Did you even read the SWEAT pledge?
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REMercsChamp posted...

Did you even read the SWEAT pledge?

Yes. A bunch of empty platitudes:

1 and 2 are vague "feel good" statements with no meat to them.
3 is debatable (I say this having worked a bunch of shitty jobs through college, REMercs. I necessarily embodied your "philosophy" because I graduated undergrad with no debt.)
4 is what cucks say to justify working shitty jobs.
Already addressed 5.
6 is kind of unrelated to the idea of debt and personal success, but whatever, he wants to just mentally masturbate about "safety culture" when it really isn't that prevalent.
7 is a great way to become the guy a company will never promote because you're too useful where you are (i.e. a cuck).
You are the most guilty of 8.
9, I can't legally practice medicine with a library card.
10 is a false dichotomy.
11, another common sense empty platitude.
12 is a belief ignorant to so many things, I can't address in a single post.


Keep holding out for that Swamp People TV deal, REMercs. They'll need another simpleton like you again soon enough. After all, you dedicate your life to fortune cookie statements and pretend it's a philosophy, lol.
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Soviet_Poland posted...

REMercsChamp posted...

Did you even read the SWEAT pledge?

Yes. A bunch of empty platitudes:

1 and 2 are vague "feel good" statements with no meat to them.
3 is debatable (I say this having worked a bunch of shitty jobs through college, REMercs. I necessarily embodied your "philosophy" because I graduated undergrad with no debt.)
4 is what cucks say to justify working shitty jobs.
Already addressed 5.
6 is kind of unrelated to the idea of debt and personal success, but whatever, he wants to just mentally masturbate about "safety culture" when it really isn't that prevalent.
7 is a great way to become the guy a company will never promote because you're too useful where you are (i.e. a cuck).
You are the most guilty of 8.
9, I can't legally practice medicine with a library card.
10 is a false dichotomy.
11, another common sense empty platitude.
12 is a belief ignorant to so many things, I can't address in a single post.


Keep holding out for that Swamp People TV deal, REMercs. They'll need another simpleton like you again soon enough. After all, you dedicate your life to fortune cookie statements and pretend it's a philosophy, lol.

I feel sorry for your patients
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REMercsChamp posted...

I feel sorry for your patients

I'm sure there are a lot of doctors you'd ideologically disagree with. Good thing that's not relevant to their proficiency in medicine.

For what's it's worth, recognizing the empty statements these are doesn't mean I don't believe in work ethic, or in general being fiscally responsible, or that there is always *something* someone can do to improve their own standing in society. Are there some people who are just "too lazy" for their own good? Sure. Absolutely. But your fortune cookie view misses a lot of the minutiae in the middle. Sorry I don't align with your extremist views.
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Soviet_Poland posted...

REMercsChamp posted...

I feel sorry for your patients

I'm sure there are a lot of doctors you'd ideologically disagree with. Good thing that's not relevant to their proficiency in medicine.

For what's it's worth, recognizing the empty statements these are doesn't mean I don't believe in work ethic, or in general being fiscally responsible, or that there is always *something* someone can do to improve their own standing in society. Are there some people who are just "too lazy" for their own good? Sure. Absolutely. But your fortune cookie view misses a lot of the minutiae in the middle. Sorry I don't align with your extremist views.

>Makes fun of Mike Rowe's SWEAT pledge which made the guy a millionaire
>Unemployed and lives in his mom's basement
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REMercsChamp posted...

>Unemployed and lives in his mom's basement

Where did this even come from?
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There really is no point to trying to talk to you genuinely. I remember why I ignore list'd you in the first place. Bye Champ!
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Soviet_Poland posted...

There really is no point to trying to talk to you genuinely. I remember why I ignore list'd you in the first place. Bye Champ!

Damn, looks like I hurt this guy's sensitive feelings!
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Trumpo posted...

MutantJohn posted...

Good luck getting a job without having a car.

Public transport exists

*how to spot someone who is not American*

Trumpo posted...

MutantJohn posted...

Good luck getting a job without having a car.

Public transport exists

Oh God I love it when airheads make this argument. Not every place is the city, numbnuts.
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I took on $25k of student debt and didnt work through uni

I paid it all off in my first year of my first job

i dont use credit cards because i like to use my own money and not owe other people
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Rika_Furude posted...

I took on $25k of student debt and didnt work through uni

I paid it all off in my first year of my first job

i dont use credit cards because i like to use my own money and not owe other people

So you don't buy things online? No wonder you still shop at GameStop
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REMercsChamp posted...

Rika_Furude posted...

I took on $25k of student debt and didnt work through uni

I paid it all off in my first year of my first job

i dont use credit cards because i like to use my own money and not owe other people

So you don't buy things online? No wonder you still shop at GameStop

Debit cards exist
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REMercsChamp posted...

Rika_Furude posted...

I took on $25k of student debt and didnt work through uni

I paid it all off in my first year of my first job

i dont use credit cards because i like to use my own money and not owe other people

So you don't buy things online? No wonder you still shop at GameStop

You can buy things online with a debit card you clown
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REMercsChamp posted...

Rika_Furude posted...

I took on $25k of student debt and didnt work through uni

I paid it all off in my first year of my first job

i dont use credit cards because i like to use my own money and not owe other people

So you don't buy things online? No wonder you still shop at GameStop

You're not even a good troll. Honestly you come off as pretty pathetic in your interactions with other people in here.

Work on your game and bring it back when you can troll intelligently.
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l33t_iRk3n_Rm33 posted...

Trumpo posted...

MutantJohn posted...

Good luck getting a job without having a car.

Public transport exists

Oh God I love it when airheads make this argument. Not every place is the city, numbnuts.

you work at a place that does until you can afford to otherwise
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Conflict posted...

Lol we literally have idiots itt who have never heard of people who work without having their own car

Lol literally no one said that.

There is virtually no public transport in my city. I'd get killed if I tried to walk anywhere. A car is a necessity here. Anyone who says otherwise is ignorant.

Soviet_Poland posted...

On Monday, you owe 10 sandwiches, but can only afford the bread to make 5. But that's okay, because you can carry the debt through the week. Each day you slowly pay off the debt using pb&j's earned through proper management.

Looks like a zero-sum game here, though.

weekly input:
You = 35 slices of bread
Billy = PB
Sally = J
brother = labor
Alex = nothing

weekly consmption:
You = seven sandwiches
Billy = seven sandwiches
Sally = seven sandwiches
Brother = seven sandwiches
Alex = seven sandwiches

When next monday comes, your debt of 21 sanwiches (7 each to Sally, Billy, and brother) has been payed off already, and all you're doing is rounding up resources again.