Comments by "P M" (@pm2886) on "You Will Stay BROKE: The Financial Traps No One Warned You About" video.

  1. No expects that - but we should all expect PARENTS to step up and keep their kid from making stupid decisions.
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  2. Cannot afford it where? Clearly you're looking in an area you can't afford. It's all relative. You absolutely can afford a house, on six figures. So decide what you actually want - a house, or a lifestyle.
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  3. Yes, it's a Western affliction - parents who are basically overgrown teenagers.
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  4. No one should borrow money for a car. Buy whatever you can afford in cash.
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  5. ​ @tross549 That's how we did it. Frugality .. for as many years as necessary.
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  6. You never borrow on a DEPRECIATING asset. Cars are depreciating assets. Paying interest (IOW paying more for the car than the ticket price) on something worth less than the ticket price as soon as you buy it, is about as stupid a financial decision as it's possible to make. Borrowed money should only ever be used for appreciating assets. EG mortgages, some investments, and university degrees in high demand and we'll paid fields.
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  7. I don't. They knew what they were doing (I mean what kind of person doesn't first research the job market of a degree they're interested in). Even if they were too stupidly privileged to consider whether there were any jobs in the field, their parents would have done such research .. surely. Like I said .. they knew. They just didn't care. It's entitlement thinking. Assuming someone else would take care of them - or that the government would save them.
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  8. ​ @juniorbeastyt  That's ridiculous. No one is forced to go to college. No one is forced to LIVE at college. No one is forced to take a useless degree. Those are choices the student (and their parents) freely make. There is no one else to blame.
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  9. You borrowed money for laundry appliances? Seriously? That's insane.
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