6 ms·

No emergency fund, I suppose. Sometimes I wonder how people manage to browse the Web without encountering "common" pieces of wisdom. Maybe we should bundle up

No emergency fund, I suppose. Sometimes I wonder how people manage to browse the Web without encountering "common" pieces of wisdom. Maybe we should bundle up a bunch of useful YouTube/TikToks as a supplemental education package for students.

Turskarama 2y ago
You're kind of damned if you do, damned if you don't. If you save up an emergency fund instead of paying a downpayment then you're spending money on rent that you could have in retirement, and it's not like rent is consistently cheaper than mortgage payments anyway so if you can save up when renting you can save up when owning. So the gamble is, do you spend 2 years saving up for 6 months of income as a buffer and send tens of thousands of dollars down the drain in the meantime, or do you roll the dice and hope nothing bad happens in the next 5 or so years? The people who end up in the best position will be those who take the second option, and most of the time it will work out.
- ghaff 2y ago
  The short answer is probably everything in moderation if you're reasonably young. Maybe don't put every penny you can get your hands on into a down payment on a house, especially if you're also a bit uncertain about future income streams and life situation. But maybe you also don't really need a year or two comfortable emergency fund. At some point, it probably makes sense to buy a place if you can if only for the stability as you get older.
- zeroCalories 2y ago
  The problem is that many people view home ownership as a cultural / political statement beyond all else. They desperately need to stop being a rentoid and become a landchad. The reality is that renting is often a better financial decision than buying, especially short term. Plus, in this economy there is no guarantee that you're going to be employed in one city your whole life.
  - away271828 2y ago
    Maybe. It's very situational. Beyond the spreadsheets for a given location, there are times in your life when you want to be able to pickup and move fairly easily and there are times when you want to be able to put down roots and be in a pretty stable situation that lets you tailor things.
    - zeroCalories 2y ago
      "Putting down roots" is the wrong way to look at it. You have to ask yourself if you're certain that you will be in one area for a long time. Everyone wants roots in LA or NYC, many of them wash out.
  - s1artibartfast 2y ago
    Sure. but what isn't cultural? Being cultural does not mean it is irrational. It would probably be a better financial decision if people lived cells and ate nutrient paste.
    - zeroCalories 2y ago
      The goal is to maximize your happiness. Putting yourself into a precarious and stressful financial situation because of memes is irrational. Buying a sleeping pod might be rational for some, not for others. Those aren't cultural though, they're personal.
      - s1artibartfast 2y ago
        I dont really understand the distinction you are drawing between cultural and personal. Personal opinions are shaped by culture and memes.
        zeroCalories 2y ago
        Your personal preferences are influenced by culture, but they include your material realities. If you're making decisions about your finances/housing without considering your material reality, you've been meme'd into a decision. A lot of people have been influenced into believing that being an owner is always better than being a renter, so they make stupid decisions.
TeMPOraL 2y ago
Nah, people know those "common" pieces of wisdom. What people bringing them up often miss is, they're also unachievable for most people. Life isn't a MMORPG where you can check out of progression at any moment and spend some time grinding to build up savings. Life has a clock to it that doesn't stop, and most can't afford falling behind it much.
- araes 2y ago
  > MMORPG where you can check out Had this same type of idea cycle around recently quite a bit lately. Similar issue, if this experience actually had the "uninstall", "quit", "leave", "exit", or red X in the corner, it would have been hit a long time ago. Much rather drop and go bodily join some fantasy or sci-fi land than the perpetual grind of meaningless, mundane, superficial, banal America. There's a reason millions spend almost every waking moment staring at a screen, playing a game about a fantasy or sci-fi land where you can actually feel like you accomplish something than interacting with the human race. Frankly, a lot of MMORPG economies almost look preferable these days, and nearly as believable. At least in quite a few you can personally manufacture something and at least have a possibility of making money that's relevant. On Earth, rather challenging. Etsy for example: Only 26% of Etsy shops are successful and run as full-time businesses, or 74% of all Etsy businesses eventually fail. Average Etsy seller makes $2,900 per year Almost every part of the world economy seems designed to punish every member for not being born rich and a celebrity at birth. What's the best way to get followers online and be an "influencer"? Already be a rich celebrity who's influential. Most followed on Instagram - Christiano Ronaldo (635m), Leo Messi (504m), Selena Gomez (425m), Kylie Jenner (398m), Dwayne Johnson (396m), ect ... The top 50 is pretty much universally previously known athlete, actor/actress, musician names. "Normal" influencers are an order of magnitude or further away down in the 10m, 1m, 500k range. It's simply another way to make even more money, have even more fame, be even more self involved, and take even more of the same photos. One part that's been really bothersome lately is how many games actually seem better implemented than the "real" world. Farming Simulator being one of the perennial cases. The equipment is implemented down to the individual bolts and seals on the engines, and you can probably print out the CAD models and manufacture your own tractor they're so detailed. Yet the game actually implements numerous technologies that the "real" farming consistently refuses. Quicker iterations, quicker development, quicker releases and responsiveness to customers. Intermediate cost farming equipment for the starting farmer, bicycle and human powered equipment with low yearly input costs. The "real" farming sector appear unable to do little other than offer the same $500,000 super-rigs they've been offering for years. There was a post a while back where the Farming Simulator people actually complained to the John Deere's of the world "common guys, how about some entry level stuff, we don't have anything to offer our players." Anyways, TLDR, would have quit, uninstalled, and then burned the computer in the yard a long time ago.
MarcelOlsz 2y ago
Emergency fund is useless when expenses are 5k/mo, and that's just sitting in my room working in 15C with my food costs and expenses as low as can be. Burned through 40k already.
- deleted 2y ago
  [deleted]

Turskarama 2y ago

You're kind of damned if you do, damned if you don't. If you save up an emergency fund instead of paying a downpayment then you're spending money on rent that you could have in retirement, and it's not like rent is consistently cheaper than mortgage payments anyway so if you can save up when renting you can save up when owning. So the gamble is, do you spend 2 years saving up for 6 months of income as a buffer and send tens of thousands of dollars down the drain in the meantime, or do you roll the dice and hope nothing bad happens in the next 5 or so years? The people who end up in the best position will be those who take the second option, and most of the time it will work out.

ghaff 2y ago
The short answer is probably everything in moderation if you're reasonably young. Maybe don't put every penny you can get your hands on into a down payment on a house, especially if you're also a bit uncertain about future income streams and life situation. But maybe you also don't really need a year or two comfortable emergency fund. At some point, it probably makes sense to buy a place if you can if only for the stability as you get older.
zeroCalories 2y ago
The problem is that many people view home ownership as a cultural / political statement beyond all else. They desperately need to stop being a rentoid and become a landchad. The reality is that renting is often a better financial decision than buying, especially short term. Plus, in this economy there is no guarantee that you're going to be employed in one city your whole life.
- away271828 2y ago
  Maybe. It's very situational. Beyond the spreadsheets for a given location, there are times in your life when you want to be able to pickup and move fairly easily and there are times when you want to be able to put down roots and be in a pretty stable situation that lets you tailor things.
  - zeroCalories 2y ago
    "Putting down roots" is the wrong way to look at it. You have to ask yourself if you're certain that you will be in one area for a long time. Everyone wants roots in LA or NYC, many of them wash out.
- s1artibartfast 2y ago
  Sure. but what isn't cultural? Being cultural does not mean it is irrational. It would probably be a better financial decision if people lived cells and ate nutrient paste.
  - zeroCalories 2y ago
    The goal is to maximize your happiness. Putting yourself into a precarious and stressful financial situation because of memes is irrational. Buying a sleeping pod might be rational for some, not for others. Those aren't cultural though, they're personal.
    - s1artibartfast 2y ago
      I dont really understand the distinction you are drawing between cultural and personal. Personal opinions are shaped by culture and memes.
      - zeroCalories 2y ago
        Your personal preferences are influenced by culture, but they include your material realities. If you're making decisions about your finances/housing without considering your material reality, you've been meme'd into a decision. A lot of people have been influenced into believing that being an owner is always better than being a renter, so they make stupid decisions.

TeMPOraL 2y ago

Nah, people know those "common" pieces of wisdom. What people bringing them up often miss is, they're also unachievable for most people. Life isn't a MMORPG where you can check out of progression at any moment and spend some time grinding to build up savings. Life has a clock to it that doesn't stop, and most can't afford falling behind it much.

araes 2y ago
> MMORPG where you can check out Had this same type of idea cycle around recently quite a bit lately. Similar issue, if this experience actually had the "uninstall", "quit", "leave", "exit", or red X in the corner, it would have been hit a long time ago. Much rather drop and go bodily join some fantasy or sci-fi land than the perpetual grind of meaningless, mundane, superficial, banal America. There's a reason millions spend almost every waking moment staring at a screen, playing a game about a fantasy or sci-fi land where you can actually feel like you accomplish something than interacting with the human race. Frankly, a lot of MMORPG economies almost look preferable these days, and nearly as believable. At least in quite a few you can personally manufacture something and at least have a possibility of making money that's relevant. On Earth, rather challenging. Etsy for example: Only 26% of Etsy shops are successful and run as full-time businesses, or 74% of all Etsy businesses eventually fail. Average Etsy seller makes $2,900 per year Almost every part of the world economy seems designed to punish every member for not being born rich and a celebrity at birth. What's the best way to get followers online and be an "influencer"? Already be a rich celebrity who's influential. Most followed on Instagram - Christiano Ronaldo (635m), Leo Messi (504m), Selena Gomez (425m), Kylie Jenner (398m), Dwayne Johnson (396m), ect ... The top 50 is pretty much universally previously known athlete, actor/actress, musician names. "Normal" influencers are an order of magnitude or further away down in the 10m, 1m, 500k range. It's simply another way to make even more money, have even more fame, be even more self involved, and take even more of the same photos. One part that's been really bothersome lately is how many games actually seem better implemented than the "real" world. Farming Simulator being one of the perennial cases. The equipment is implemented down to the individual bolts and seals on the engines, and you can probably print out the CAD models and manufacture your own tractor they're so detailed. Yet the game actually implements numerous technologies that the "real" farming consistently refuses. Quicker iterations, quicker development, quicker releases and responsiveness to customers. Intermediate cost farming equipment for the starting farmer, bicycle and human powered equipment with low yearly input costs. The "real" farming sector appear unable to do little other than offer the same $500,000 super-rigs they've been offering for years. There was a post a while back where the Farming Simulator people actually complained to the John Deere's of the world "common guys, how about some entry level stuff, we don't have anything to offer our players." Anyways, TLDR, would have quit, uninstalled, and then burned the computer in the yard a long time ago.

MarcelOlsz 2y ago

Emergency fund is useless when expenses are 5k/mo, and that's just sitting in my room working in 15C with my food costs and expenses as low as can be. Burned through 40k already.

deleted 2y ago
[deleted]