A dollar definitely doesn't go as far as it used to, but there has been some good to come from the bad economy. We are more aware of how we spend our money, and we tend to focus on needs rather than wants. We have also learned ALOT about being frugal (from using coupons to making your own cleaners). So in a way, we are actually getting more for our money than we did before! And, we have eliminated much of the useless junk we use to accumulate.
The biggest change I've noticed is that while prices have remained the same, the amount sold has decreased. From ice cream to cereal manufacturers have shrunk the amount in boxes that remain the same size. If you're not careful you can get fooled.
Yes, that video is interesting and nicely made. Unfortunately, it also falls sometimes in the trap of conspiracy theories, which reduces its impact it could have had.
Someone who has gone to say, Columbia or Brown has a much better network system set up by name only. In this economy in some professions, the name of your school will automatically grant you an interview. The fact is private schools have much better programs, many more opportunities, and attract better staff. Yes, the education is comparable to something you'd get at a public state school, but that's not the point. Going to a name school, even at an expense, could possibly work out better than going to a no-name school.
(Also, many private schools end up cheaper than state schools. Why? Bigger endowments. More affluent alumni. Many students who make less than the "average" receive a free ride.)
Just got a netspend debut card today and I reacted as you did, and I will not be activating it, it bothered me that my name was on the card. I am reporting them.
It's interesting that you mentioned finding ways to support the artist more directly. I had several works published through traditional means, but later pulled them in an effort to retain not only my rights, but also not give 90% of it away. Instead, while I theoretically sell a lot less music volume-wise, I also make 80+% on the sale. I am surprised I don't see more people selling their music directly from their sites. There are definitely some artists that could start-off by adding a few bucks to their musical endeavor funds this way.
Has anyone seen the animated presentation Money As Debt? It's on YouTube. It presents a very interesting concept that debt is absolutely essential for our economic system to run. In fact, it says that money is debt and without debt, we wouldn't have any currency in our economic system. We, or at least some of us, need to be in debt in order for our economy to run at all.
It's hard to believe, but I haven't been able to punch any holes through the reasoning presented in the video. If someone could offer an alternative analysis, I would love to hear it.
I love Wise Bread! The only time my dollar goes further is when I buy gas. Groceries are higher, so I've changed what I'm willing to buy. A $1 coupon might be worth as much as last year;)
I think Philip is right -- there's plenty of blame to go around.
The idea that a college degree is your ticket to Easy Street has turned out to be a myth. Maybe most jobs don't require a college degree, but high-school educations in the U.S. have been weakened so much that college has become somewhat remedial.
At the same time, corporate management and legislation like NAFTA have led investors to believe that a degree is a degree, whether it comes from an American university or one from a country with a much lower cost of living (and educating).
And we've lived through a few generations of dishonoring skilled labor, like plumbers or auto mechanics -- even though _those_ jobs can pay well and are difficult to move offshore.
People's expectations are different, too. Used to be it was no big thing to start in a small apartment or house with used furniture and hand-me-down dishes; drive a beater (or, better, not have a car at all); save to buy stuff for hobbies once you were better established. Now, new college graduates are buying houses and fancy cars and have more credit -- and more debt -- than our grandparents ever dreamed of (or worried about).
You have to wonder if the current slowdown will be enough to nudge things in a different direction. I'm not hopeful.
I'm starting a Ph.D. program this fall. On the downside, the tuition per credit is many dollars more than last year (or every year before that), but if I waited another year or two (or ten) to start this degree, then it would cost me exponentially more every year that I waited. So in that respect, I guess I'm getting a great bargain.
I have a good friend who took out thousands in student loans to go to law school expecting to get a good job and work to pay them off pretty quickly. Lo and behold she graduated 2 years ago and STILL can't find a job, much less a job as an attorney. She says if she'd known she never would have gone to law school (though her dream is to be a public defender) because it wasn't worth the hassle and the debt. She's screwed now - even though she passed the bar how will she find a job that pays well enough to pay those loans back if no one is hiring attorneys right now? Not to mention that the country is flooded with people graduating law school who ALSO can't find jobs. It's a vicious circle.
Long story short I screwed on loans twice, even with excellent credit and neither were of my fault but the banks or title companies. Both times I paid an application fee of $400 or so and did not get it back. In fact it took weeks to even get a response from Chase (I am in the process of pulling all my accounts from them I was so unhappy how they handled this). Other bank had good communication but nonetheless I still lost it. The third time they did a pre-check using the information from attempt #2 and never did ask for the fee upfront (it was rolled into closing costs).
In all honesty I doubt these rules would have helped me any (both times the loan fell through at the last minute) but it's still good news.
Parents need to teach kids about debt--and not just by sitting them down and explaining it, but also by modeling the correct use of debt and by commenting on the way others are using it. Every time they make some snide comment about debt being "the American way" they're educating more than they realize. Every time they shake their heads at some neighbor racking up yet more debt for a boat or a motorcycle or a vacation they're doing it some more.
It would be wrong to depend on our schools to teach proper money management, but surely basic skills like balancing a checkbook ought to be covered, along with things like compound interest.
In the end, of course, people need to take responsibility for their own finances--and yet I have a lot of sympathy for people who got off on the wrong foot when they were just 17 or 18 years old. Once you've signed off on your first year's college debt you're in deep enough that your best path out is probably though--even if that means three more years of racking up even more debt. And once you've done that, just living a normal life can easily lead to even more debt. It's unwise, but it's so much the normal course of events that an ordinary person can do things that are quite foolish, not because they're stupid or self-destructive, but just by going with the flow rather than thinking things through.
Having my college paid for (by a trust fund set up by my grandparents) did NOT keep me from falling into the debt trap. Though for me it was all the credit card offers suddenly showing up in my mailbox.
I *really* wish my parents had sat me down to teach me about finances and money - would have saved me a lot of heartache and wasted years paying off debt accumulated in school as well as later. I think it's the parents responsibility, not schools. Though if the parents are living beyond their means how will the children learn (not that my parents did - they just never spoke about money)?
Happily I'm debt free now but still kick myself over all the money I could have saved or invested over the years that instead went to cc debt. Lesson learned at long last.
is this tonic safe for desert tortous that eat the grass?
Most of this is common sense. It's not brain surgery. Good advice for young people who are going out for the first time.
A dollar definitely doesn't go as far as it used to, but there has been some good to come from the bad economy. We are more aware of how we spend our money, and we tend to focus on needs rather than wants. We have also learned ALOT about being frugal (from using coupons to making your own cleaners). So in a way, we are actually getting more for our money than we did before! And, we have eliminated much of the useless junk we use to accumulate.
The biggest change I've noticed is that while prices have remained the same, the amount sold has decreased. From ice cream to cereal manufacturers have shrunk the amount in boxes that remain the same size. If you're not careful you can get fooled.
What a nice designed site, your article is very interesting, regards stsericlo
have you see the vibram five fingers those are ugly shoes
I love RetailmeNot, but if you are looking for online coupons and fire sale deals in one place - go to FireCoupons.com
You can find coupons by store or by category (like: car rental coupons)
Yeah? Sowhat was the scary ending?
Describe,please..Very curious now..
Let me guess:some anti-abortion zealot put on pictures of aborted fetuses or something?
People are not very nice sometimes.
Yeah? Sowhat was the scary ending?
Describe,please..Very curious now..
Let me guess:some anti-abortion zealot put on pictures of aborted fetuses or something?
People are not very nice sometimes.
I must know how!
Yes, that video is interesting and nicely made. Unfortunately, it also falls sometimes in the trap of conspiracy theories, which reduces its impact it could have had.
Someone who has gone to say, Columbia or Brown has a much better network system set up by name only. In this economy in some professions, the name of your school will automatically grant you an interview. The fact is private schools have much better programs, many more opportunities, and attract better staff. Yes, the education is comparable to something you'd get at a public state school, but that's not the point. Going to a name school, even at an expense, could possibly work out better than going to a no-name school.
(Also, many private schools end up cheaper than state schools. Why? Bigger endowments. More affluent alumni. Many students who make less than the "average" receive a free ride.)
Just got a netspend debut card today and I reacted as you did, and I will not be activating it, it bothered me that my name was on the card. I am reporting them.
It's interesting that you mentioned finding ways to support the artist more directly. I had several works published through traditional means, but later pulled them in an effort to retain not only my rights, but also not give 90% of it away. Instead, while I theoretically sell a lot less music volume-wise, I also make 80+% on the sale. I am surprised I don't see more people selling their music directly from their sites. There are definitely some artists that could start-off by adding a few bucks to their musical endeavor funds this way.
Thanks for the post, Philip.
Has anyone seen the animated presentation Money As Debt? It's on YouTube. It presents a very interesting concept that debt is absolutely essential for our economic system to run. In fact, it says that money is debt and without debt, we wouldn't have any currency in our economic system. We, or at least some of us, need to be in debt in order for our economy to run at all.
It's hard to believe, but I haven't been able to punch any holes through the reasoning presented in the video. If someone could offer an alternative analysis, I would love to hear it.
You have your own pair of boxes?! o_O
Still looking how to get the free ice cream!
I love Wise Bread! The only time my dollar goes further is when I buy gas. Groceries are higher, so I've changed what I'm willing to buy. A $1 coupon might be worth as much as last year;)
I think Philip is right -- there's plenty of blame to go around.
The idea that a college degree is your ticket to Easy Street has turned out to be a myth. Maybe most jobs don't require a college degree, but high-school educations in the U.S. have been weakened so much that college has become somewhat remedial.
At the same time, corporate management and legislation like NAFTA have led investors to believe that a degree is a degree, whether it comes from an American university or one from a country with a much lower cost of living (and educating).
And we've lived through a few generations of dishonoring skilled labor, like plumbers or auto mechanics -- even though _those_ jobs can pay well and are difficult to move offshore.
People's expectations are different, too. Used to be it was no big thing to start in a small apartment or house with used furniture and hand-me-down dishes; drive a beater (or, better, not have a car at all); save to buy stuff for hobbies once you were better established. Now, new college graduates are buying houses and fancy cars and have more credit -- and more debt -- than our grandparents ever dreamed of (or worried about).
You have to wonder if the current slowdown will be enough to nudge things in a different direction. I'm not hopeful.
I'm starting a Ph.D. program this fall. On the downside, the tuition per credit is many dollars more than last year (or every year before that), but if I waited another year or two (or ten) to start this degree, then it would cost me exponentially more every year that I waited. So in that respect, I guess I'm getting a great bargain.
I have a good friend who took out thousands in student loans to go to law school expecting to get a good job and work to pay them off pretty quickly. Lo and behold she graduated 2 years ago and STILL can't find a job, much less a job as an attorney. She says if she'd known she never would have gone to law school (though her dream is to be a public defender) because it wasn't worth the hassle and the debt. She's screwed now - even though she passed the bar how will she find a job that pays well enough to pay those loans back if no one is hiring attorneys right now? Not to mention that the country is flooded with people graduating law school who ALSO can't find jobs. It's a vicious circle.
Long story short I screwed on loans twice, even with excellent credit and neither were of my fault but the banks or title companies. Both times I paid an application fee of $400 or so and did not get it back. In fact it took weeks to even get a response from Chase (I am in the process of pulling all my accounts from them I was so unhappy how they handled this). Other bank had good communication but nonetheless I still lost it. The third time they did a pre-check using the information from attempt #2 and never did ask for the fee upfront (it was rolled into closing costs).
In all honesty I doubt these rules would have helped me any (both times the loan fell through at the last minute) but it's still good news.
WHO CARES!
I think there's lots of blame to go around.
Parents need to teach kids about debt--and not just by sitting them down and explaining it, but also by modeling the correct use of debt and by commenting on the way others are using it. Every time they make some snide comment about debt being "the American way" they're educating more than they realize. Every time they shake their heads at some neighbor racking up yet more debt for a boat or a motorcycle or a vacation they're doing it some more.
It would be wrong to depend on our schools to teach proper money management, but surely basic skills like balancing a checkbook ought to be covered, along with things like compound interest.
In the end, of course, people need to take responsibility for their own finances--and yet I have a lot of sympathy for people who got off on the wrong foot when they were just 17 or 18 years old. Once you've signed off on your first year's college debt you're in deep enough that your best path out is probably though--even if that means three more years of racking up even more debt. And once you've done that, just living a normal life can easily lead to even more debt. It's unwise, but it's so much the normal course of events that an ordinary person can do things that are quite foolish, not because they're stupid or self-destructive, but just by going with the flow rather than thinking things through.
Having my college paid for (by a trust fund set up by my grandparents) did NOT keep me from falling into the debt trap. Though for me it was all the credit card offers suddenly showing up in my mailbox.
I *really* wish my parents had sat me down to teach me about finances and money - would have saved me a lot of heartache and wasted years paying off debt accumulated in school as well as later. I think it's the parents responsibility, not schools. Though if the parents are living beyond their means how will the children learn (not that my parents did - they just never spoke about money)?
Happily I'm debt free now but still kick myself over all the money I could have saved or invested over the years that instead went to cc debt. Lesson learned at long last.