By AitchBee on Be Gone, Debt!
Cutting out or reducing moderate expenses and taking on side jobs are definitely good money practices, and I'm sure they helped her pay down her debt, but the article seems to skew a little "Cut out your daily latte," while the real lesson is probably "avoid lifestyle creep when you get your TWENTY-THOUSAND DOLLAR RAISE".
@aetataureate I love the tone of the article. "The modern executive works hard and lives modestly, just like you, BECAUSE COMMUNISTS TOOK ALL HIS MONEY. Ahem. he also likes golfing. We're all Americans here!" "Also, his wife is a lazy drunk."
The trick is to (a) only buy a house where you want to live, rather than one you can afford but don't want to live in; (b) avoid buying in enormously inflated markets (and yes, it's possible to tell when an area is overpriced); and (c) buy a house with payments/ utilities that are equal to or cheaper than renting. This means it doesn't make sense for most people to buy if they don't like to settle down or if they want to live in a city with a crazy housing market. (Or, for that matter, if they hate thinking about home repairs, have unstable incomes, or don't care about having a space they can modify as they'd like.) But buying was an incredible deal for my family, and now that we've paid off the mortgage early the financial peace of mind we have is amazing.
@CubeRootOfPi Yes, exactly. He came off as a pretentious fool who will no doubt be whining about Los Angeles holding him back in a few years. New York City is my home because I love it above all other places I have ever lived, and I get to work at things I enjoy that are nearly impossible to do at a professional level elsewhere in the US. Maybe if I had moved here with a television-program-based fantasy of what life would be like, I too would be plotting to move somewhere that would appreciate me more.
@City_Dater Obviously, the only Economically Rational thing for people with expensive college degrees in "unnecessary" subjects (i.e. other than Science or Business) to do is to work as a barista for $9/hr in some Wyoming natural-gas boomtown in the middle of nowhere and send half their income back to Sallie Mae each month, until they are 100% free of the shameful stain of
Trying in any way to get by in a competitive industry (esp. media) in a large city (esp. New York) -- let alone publicly complaining about how difficult it is, or suggesting that policy changes of any kind might be in order -- just reeks of entitlement.
Leave the media and arts jobs and the Manhattan apartments to the wealthy scions and get on with your pre-ordained career in Fast Food Management, silly liberal arts peons. That is what you get for studying Literature. The richest and most productive society in human history can no longer support your silly fantasies about "culture." It's WORK WORK WORK now, baby. Unless, like, your husband is a Venture Capitalist or something.
Also, hipsters blah blah privilege wakka wakka mommy and daddy.
OK, that's all out of the way now!
@stuffisthings Thank you! I was bracing for the inevitable "You snotty entitled people should come live in this place which has no employment prospects for you whatsoever because I am here paying only $5 a month in rent and have a SUN PORCH."
The government wants you to know it's OK to apply! And your fellow citizens want you to know that they will judge the shit out of you once you do.
Agreed; the cupcakes are not that good. The banana pudding, on the other hand, is totally worth moving out of blood-spatter range.
@MuffyStJohn Just FYI - We're doing an FHA loan with 3.5% down, my credit score is in the low 700, and boyfriends is in the mid 600 range. They didn't laugh.
I think we need an episode where the happy couple goes to the bank and are laughed out of the office for not having 20% down and credit scores over 750. The rest of the episode can just be dead air.