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Article Link: Four Rookie Mistakes People Make that Keep Them Poor

12 Responses to “Article Link: Four Rookie Mistakes People Make that Keep Them Poor”

1. carol Says:
   November 29th, 2006 at 10:00 pm 1164837656
   1164837656
   Never mind the bad language, although it could have been left out. That article is right on target. How many of us have bought right into that bs about going to college, how many of us have bought into the vanity, credit card, keeping up with the Jones, procastinating, etc. And how many of us are buried in debt, or digging our way out of those financial graves we dug ourselves into?
   
   Wow, what an article!

2. monkeymama Says:
   November 30th, 2006 at 12:23 am 1164846217
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   Good article!!
   
   
   
   
   

3. mairgrif Says:
   November 30th, 2006 at 01:38 am 1164850727
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   Oooooh, me like, me like!

4. Broken Arrow Says:
   November 30th, 2006 at 02:22 am 1164853364
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   "A friend of mine spent 8 years investing his money. His portfolio yields him around 42 grand a year. In some areas that's chump change; but in his area that's comfortable. He works maybe 3 or 4 hours a week balancing his numbers, making bank deposits, phone calls, (that sort of thing) poolside with a corona in his hand. If he wants to go skiing in Colorado for a few months, he goes. If he wants a newer car, he pays cash. If he wants to spend his morning loafing around his house in a pair of slippers, he does. He lives his life with minimal time constraints, almost zero stress, and he works as often or as little as he wants. He's happy, calm, and comfortable. He's rich."
   
   There! That's who I want to be. No, I don't drink, and I don't want to loaf around all day. BUT, if that's what I feel like doing for just that one day, then I want the freedom and the financial ability to do just that!
   
   As for the list, sadly, I've already done 2 of them (going straight to college and having kids before we were ready), and I'm risking doing a third (stagnating... although technically, I'm going through a divorce and it's not complete yet).
   
   But things are going to be different from now on! I'm going to pull the biggest turnaround humanly possible and right my financial ship!

5. jersey jen Says:
   November 30th, 2006 at 02:48 am 1164854915
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   i don't like the first 2, but the last 2 are good advices.

6. Broken Arrow Says:
   November 30th, 2006 at 03:22 am 1164856958
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   Jersey Jen:
   
   Yes, I can understand why you feel that way.
   
   For example, my ex and I didn't have kids because we decided that we want to be stupid and do something financially reckless. We had kids because we were blessed by their existance at that point in time.
   
   It's tempting to say that the author of that article probably don't have kids, because otherwise, (s)he would understand that people don't do it as a public display in stupidity.
   
   It's almost like saying that car accidents are stupid. Well, sitting from the comfort of the stadium seats, of course they look stupid! Nobody wants to have car accidents. They just happen. Life happens.
   
   Having said that, it's also true that children are a financial challenge. I'm not saying it's a bad idea to have kids. However, in an ideal world, I have to agree that it's best to approach it from a financially secure position... whenever possible.

7. a@a.com Says:
   November 30th, 2006 at 03:49 am 1164858581
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   People who have children are fucking morons (especially those that aren't financially stable). Do the world a favor and get fixed, we already have enough people in the world.
   
   And yes, I had a vasectomy.

8. Ima saver Says:
   November 30th, 2006 at 05:23 pm 1164907401
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   I loved this and I hope someone posts part two!!

9. fern Says:
   November 30th, 2006 at 06:06 pm 1164909971
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   I thought that was an outstanding article.
   
   I've always felt that the true value of financial independence lies in its ability to give you freedom, the freedom to do what you want with your time and not punch a clock...unless you want to.
   
   However, I would disagree about the value of attending college immediately after high school. Many people, i'm afraid, would end up never getting their college degree if they delayed going to college for a few years becus they'd get a taste of how nice it is to earn a steady paycheck. However, the value of college has greater impact on lifelong earnings.
   
   As an aside, i don't consider people like Michael Jackson or Paris Hilton "rich," or anyone i'd want to emulate. One is a self-absorbed gal who is famous for doing nothing and the other is a likely pedophile. Not very good role models.

10. fern Says:
    November 30th, 2006 at 06:09 pm 1164910196
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    http://www.violentacres.com/archives/47/is-your-job-ruining-your-life
    
    
    Part I is here, also some excellent points.

11. Lau Says:
    November 30th, 2006 at 07:27 pm 1164914876
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    A little blunt, but who cares? It's to the point and might actually be something you'll remember!

12. sflan Says:
    December 3rd, 2006 at 11:15 pm 1165187727
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    I agree that the article has some very good points. Especially about the poiint that it is not what you earn, but what you keep. However, it wasn't clear about whether the writer recommend having children at all. How long is one supposed to wait? It is not a given, but one of the benefits of having children is the hope that they will take care of their parents, if needed, during old age. No amount of money can replace the dedication that many people have to helping parents when such care is needed.

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