tag:blogger.com,1999:blog-329507352453931374.post3119980578571228823..comments2024-03-24T18:43:18.706-04:00Comments on Darwinfish 2: Young Man Movin' Outbluzdudehttp://www.blogger.com/profile/05991272670722362652noreply@blogger.comBlogger18125tag:blogger.com,1999:blog-329507352453931374.post-83676953909290612342012-05-31T18:41:33.350-04:002012-05-31T18:41:33.350-04:00You’re correct; these tips apply everywhere. This...You’re correct; these tips apply everywhere. This guy just happened to want to head west.<br /><br />Car repairs were the things that always messed me up. I could dial back on Christmas, and my vacations were usually just going to stay with my parents. But car troubles were the wild cars.<br /><br />It’s so hard to worry about retirement when you’re wondering how you’re going to make your next rent payment. I know I had a very late start, even with a 401k. It should have been no surprise that 3% of squat added up to squat. If I’d have been more aggressive when I first started to make some money… well, I guess I would have lost even more in the Great Stock Market Crash of 2007-2008. My only recourse now is to retire to my buddy’s garage, back in Ohio.bluzdudehttps://www.blogger.com/profile/05991272670722362652noreply@blogger.comtag:blogger.com,1999:blog-329507352453931374.post-2361374398341107792012-05-31T18:40:47.603-04:002012-05-31T18:40:47.603-04:00That was the deal with my dad, from my first high ...That was the deal with my dad, from my first high school paycheck. 75% of it went in the bank, I kept 25%. It was a simple deal, but it paid for my college education.<br /><br />You handle credit cards the exact same way that I do. Everything goes on the card, if at all possible, so I can reap the benefit points. On my current card alone, which I’ve probably had for 5 years or so, I’ve cashed in for a plane ticket one time, and 2 night’s stay at the William Penn for another. And I should be able to cash in again by the time the next opportunity arises. (Possibly Pittsburgh Podcamp 7!)<br /><br />I do realize that I’m fortunate that I have a good stash of cash in my checking account, so I don’t really have to pinch pennies on groceries. Still, it’s a way of life to for me to monitor such things. Once you’ve lived for a while without a lot of money, you gain frugal habits that are hard to shake. But by <i>not</i> shaking those habits, it helps to ensure that you <i>remain</i> financially solvent.bluzdudehttps://www.blogger.com/profile/05991272670722362652noreply@blogger.comtag:blogger.com,1999:blog-329507352453931374.post-54831930563462375632012-05-31T18:37:53.795-04:002012-05-31T18:37:53.795-04:00That’s it exactly. The card doesn’t use itself; i...That’s it exactly. The card doesn’t use itself; it’s up to the holder. If you don’t have the cash, (and it’s not an emergency) put the card away and go without. People in this country are getting eaten alive with credit card debt, especially young people. It’s tough enough starting out, without starting out in a giant hole.bluzdudehttps://www.blogger.com/profile/05991272670722362652noreply@blogger.comtag:blogger.com,1999:blog-329507352453931374.post-40945234050356224342012-05-31T12:15:20.260-04:002012-05-31T12:15:20.260-04:00Good advice, all. But I'm not sure what it has...Good advice, all. But I'm not sure what it has to do with him moving out West. It's good advice whether you live a thousand miles away or next door to your parents.<br /><br />I've only recently learned the discipline of creating savings accounts. My budgets and credit cards were always getting blown up by three things: car repairs, vacations, and Christmas. Now, I've got little savings accts for all three. (Again, so much easier to do with online banking where you can freely transfer money between accounts!) Now, all it takes is a little bit in all three each paycheck and no more surprises and pain with unforeseen credit card explosions.<br /><br />Also, I wish I could tell the younger me to be as aggressive as possible with IRAs and 401Ks. It's taking more and more money to retire these days. If I had been more aggressive with it in my twenties, all that money could have been earning interest for these past twenty years. It's much harder to start planning for retirement in your forties.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-329507352453931374.post-70969346566014717572012-05-31T10:23:43.992-04:002012-05-31T10:23:43.992-04:00"Pay yourself first" was just about the ..."Pay yourself first" was just about the best advice I received as a kid just out of college with my first job. Open up a savings or money market account (most you need only $250, and if you don't have that, then you should not be moving anywhere!). Then have even just $25/month from your checking put into your savings. If you do that from your first paycheck, you will never miss it. Contributing to a 401k is good advice too, but this kid is probably not there yet. <br /><br />As for credit cards, we put everything on our MC, even $5 at the grocery store, and we pay it off every month, earning points. In fact, I just looked at my statement now and realized we can get $150 off our next bill. But I do have to side with Dave Ramsey a little; it is so much easier to spend more than you probably should when you use plastic. I think I would make better grocery decisions if I paid cash. <br /><br />I think your advice is great. I wish more people saw it your way.Faciehttps://www.blogger.com/profile/12165861407055831754noreply@blogger.comtag:blogger.com,1999:blog-329507352453931374.post-52928940000353577602012-05-31T09:30:43.840-04:002012-05-31T09:30:43.840-04:00"A lot of people think that credit cards get ..."A lot of people think that credit cards get people into trouble. They’re incorrect. Undisciplined users get themselves into trouble."---So true!<br /><br />If you don't have it, don't spend it. There's only been 1 time I wasn't able to make a full payment, and it was because I had put a couple graduate classes on my card. I paid it off in 2-3 months.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-329507352453931374.post-25626730855329942832012-05-30T18:08:39.990-04:002012-05-30T18:08:39.990-04:00Then feel free to point out this post to him, so h...Then feel free to point out this post to him, so he sees that it’s not just Nagging Mom stuff, but good, solid advice.bluzdudehttps://www.blogger.com/profile/05991272670722362652noreply@blogger.comtag:blogger.com,1999:blog-329507352453931374.post-25923385362499792392012-05-30T18:08:03.138-04:002012-05-30T18:08:03.138-04:00It’s sad to say but appearances do color the way p...It’s sad to say but appearances do color the way people get treated. If you look like a slob, you’ll get treated like a slob. Regardless of whether one is applying to IBM or the local car wash, one should look professional and competent. That’s not necessarily suit and tie, (for the car wash), but clean and presentable. Have tats covered, scraggly beard trimmed or shaved, hair neat, and clothes well fitted and clean. Save your “individuality” for your own time, at least until you’ve got a handle on the company “vibe.”bluzdudehttps://www.blogger.com/profile/05991272670722362652noreply@blogger.comtag:blogger.com,1999:blog-329507352453931374.post-81944366841909041212012-05-30T18:07:41.368-04:002012-05-30T18:07:41.368-04:00That’s pretty much what he’s doing, and I don’t ha...That’s pretty much what he’s doing, and I don’t have a problem with that. I am a big proponent of striking out on your own and living your own life. I’m just hoping to boost the odds of succeeding, where ever one may end up. Anyone can bolt for parts unknown and flounder. I want him to go armed with some good ideas and a plan, and then succeed.bluzdudehttps://www.blogger.com/profile/05991272670722362652noreply@blogger.comtag:blogger.com,1999:blog-329507352453931374.post-68291838440771473862012-05-30T18:07:06.111-04:002012-05-30T18:07:06.111-04:00Thanks you for providing real world backup for wha...Thanks you for providing real world backup for what I’m trying to warn about. <br /><br />Banks prey on young adults, knowing full well that impulse control is not their strong suit. By the time they grow into it, their in debt up to their eyeballs, whether it’s electronics and HDTVs, or eating out every night, or weekly clothes shopping. They WANT people to simply make the minimum payments because that’s where they make their money… <br /><br />When I first started out on my own, I had a good bead on credit card use, but didn’t know jack about keeping a checkbook. I thought you could just look at your account balance from an ATM receipt and put that in the check register. My (3-years younger) girlfriend had to explain why that doesn’t work (because of checks you may have that haven’t cleared yet) and show me how to balance the checkbook. <br /><br />I’m a real stickler about it now and balance it to the penny with each statement. Oh, and speaking of, I should point out how important it is to balance often! If you wait and try to balance several months at a time, mistakes are so much harder to find and correct. (I know YOU know this… I’m just kind of “appending” this onto the post.) Sorry I couldn’t have been there for you back when it could have done you some good… <br /><br />I had one other time where I had to put a large car repair on my card, but I caught a lucky break. Right around that time, I got a credit card offer in the mail, advertising 0% interest on all balance transfers, for 6 months. I jumped at it, and used the six months to whittle down the balance and pay it off. Once you have a card and decent credit, you’ll often get new card offers, but it’s not like you can count on it. I was lucky. Of course, if I hadn’t been proactive about maintaining a good credit score, there wouldn’t have been as many offers coming. One can make their own “luck” that way.bluzdudehttps://www.blogger.com/profile/05991272670722362652noreply@blogger.comtag:blogger.com,1999:blog-329507352453931374.post-18390555924064422232012-05-30T18:06:12.362-04:002012-05-30T18:06:12.362-04:00It’s funny that you home in on that particular ide...It’s funny that you home in on that particular idea. That was the line in my head that started the entire letter/post. The kid is the only one bringing money home, but he was not the person that handled the checkbook or bill-paying.<br /><br />To me, that’s inconceivable, but different people have different ways. But to be independent, it’s something that you simply must do. Cash flow is the lifeblood of your living standards. If you let it get away, or farm it out, you’re letting outside factors influence your very being. If you’re lucky, who ever is doing your books is acting faithfully and in your best interests. But it opens the door for a degree of shiftiness, dishonesty, and most importantly, control by proxy over your actions.<br /><br />If you’re out in the world as a consumer, you have to have a firm idea of how much you can spend at a given time. If you don’t manage your own cash, you can’t have a very good grasp of your limitations.<br /><br />This is only tangentially related, but sometime, I’m going to have to do a post about how families manage their household finances. There are a number of ways to do it. I’m curious how many married couples shove everything into one pot versus how many maintain their own accounts and finances.bluzdudehttps://www.blogger.com/profile/05991272670722362652noreply@blogger.comtag:blogger.com,1999:blog-329507352453931374.post-49937861581942378722012-05-30T12:14:54.758-04:002012-05-30T12:14:54.758-04:00I have told Keil these things, EXACTLY! Especiall...I have told Keil these things, EXACTLY! Especially the one about paying one's bills on time. Keil lives near us, but we respect his privacy and he respects ours. He can come over to do his laundry, though.<br /><br />As for moving away from one's family, my own family is so sick, so toxic, that when I finally was able to make a run for it, I did just that! What a relief that was!!Judiehttps://www.blogger.com/profile/02778815502961000469noreply@blogger.comtag:blogger.com,1999:blog-329507352453931374.post-45355249660980579522012-05-30T11:24:26.341-04:002012-05-30T11:24:26.341-04:00The bit about the clothes is particularly importan...The bit about the clothes is particularly important, but seems to be little known among the younger set - and many adults. My mother always impressed on us how important that first impression is. I know far too many adults who seem to be unaware of this. <br /><br />One friend just went to his divorce hearing in faded jeans, old cowboy boots, and a Harley Davidson t-shirt. Nothing wrong with the look - if you're out for a ride (he did ride his bike to the courthouse). But then he wonders why people don't treat him better.Kernut the Blondhttps://www.blogger.com/profile/12574615742310337050noreply@blogger.comtag:blogger.com,1999:blog-329507352453931374.post-83335143404481864662012-05-30T11:10:15.964-04:002012-05-30T11:10:15.964-04:00I wish I'd headed out west or out somewhere wh...I wish I'd headed out west or out somewhere when I was young and without responsibilities. But I was too scared. Better to risk failure than to stay in the same place your whole life and always wonder "What if?" That's my take on it. Screw cost of living.Mandy_Fishhttps://www.blogger.com/profile/05561598721266208665noreply@blogger.comtag:blogger.com,1999:blog-329507352453931374.post-67757057927195699142012-05-30T10:18:44.522-04:002012-05-30T10:18:44.522-04:00Where were you when I needed you as a punk kid sta...Where were you when I needed you as a punk kid starting out??? I got in so much debt trouble and still haven't really gotten out. I am much smarter about it now, of course, but it's like trying to turn back the hands of time. You can't go back, you can just try to fix the mess. It takes a lot of time, unfortunately. <br /><br />But yeah, I would say this advice is spot on. I'm sure there are other things to think about, but these hit the big money ones, and some practical things (like dressing to impress in interviews. Key).Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-329507352453931374.post-32788442716940062992012-05-30T10:09:13.705-04:002012-05-30T10:09:13.705-04:00This is great advice. Especially this part, "...This is great advice. Especially this part, "But remember that whoever controls your checkbook controls your life." Amen.Jessica R.http://www.leelafish.comnoreply@blogger.comtag:blogger.com,1999:blog-329507352453931374.post-55270627229871511762012-05-29T21:36:13.280-04:002012-05-29T21:36:13.280-04:00I'm glad you recognized the musical reference....I'm glad you recognized the musical reference. It was completely intentional. (OMG, that song came out before you were born!)<br /><br />If I was giving the advice to a young woman rather than a young man, I might well have thought of the pepper spray. But the young man I was writing to? No one in their right mind would mess with this guy, unless he desperately wanted his ass kicked. This kid is Bam-Bam, all grown up.bluzdudehttps://www.blogger.com/profile/05991272670722362652noreply@blogger.comtag:blogger.com,1999:blog-329507352453931374.post-70365892557350904682012-05-29T21:23:50.281-04:002012-05-29T21:23:50.281-04:00All practical advice, Bluz! I'm really, actual...All practical advice, Bluz! I'm really, actually very impressed. ;)<br /><br />But now I have Billy Joel stuck in my head. So thanks for that.<br /><br />You forgot to say, "Carry pepper spray."Cassiehttp://www.whosmydaddy.wordpress.comnoreply@blogger.com