[jamesroseman]

I think this article is short-sighted and poorly written. Its most grievous offense to me is lumping all non-rich people together.

The 22-year old out of college who needs a place to sleep doesn't need to save up for a mattress that will last them 10 years... they need a place to sleep. Especially when (unlike the article) you stop to consider other factors besides money. With "disposable" furniture/goods, you almost never need to take it with you when you move, as a 22-year old does frequently. This is an extreme example, but if the difference between a couch you'd want to keep and a couch you'd leave is $200 and the cost of the move is $200... it's actually a wash.

The middle aged parent taking care of multiple children with a poorly paid job isn't saving up for a nice couch. They're watching their family couch slowly disintegrate and they're getting years beyond what the author of this article might consider "useful".

I love the tech community for all it has given me, but the political and socioeconomic views of so many of its inhabitants ([redacted] in particular) who were born on third and told they hit a triple give me the creeps. Poor people aren't poor because they're stupid. They're poor because they don't have a lot of money, and the root causes of that can be as varied as anyone's individual life. Articles like this suggest that 500 words and a subscription to Slate can stand in the way of each and every one of those root causes.

The only valuable thing from this article is to avoid debt, beyond that there's not much of substance here..

[bluetomcat]

Undoubtedly there are a lot of people in unfavourable circumstances who simply cannot afford to save and blaming them on stupidity is pure arrogance.

The real "stupidity" which causes so many people to remain poor is depicted with that BMW guy in the article. It is about trying to maintain a lifestyle that is beyond your means.

[jamesroseman]

Exactly. This article should have been retitled "What do those who keep their wealth know that those who lose their wealth don't?"

[dogma1138]

I couldnt agree more, for almost 2 years now I've alocated 20-25% of my post tax income to savings. I had to change my life style for a bit but for the most part for the better (e.g. I cook 95% of my meals now) everyone i told this too responded by sayingn something like: wow you are really smart with money and how brave bla bla. The truth is I'm not smart I don't invest the money like some stock market shark I'm just lucky enough to be able to afford to do give up on 20%+ of my income. Saving money isn't a question of intelligence or even will for most people it's a pure issue of affordability.

[AdamN]

I wish I could triple-upvote this comment.

[F_J_H]

Was pg born into a wealthy family?

[jamesroseman]

I was referring to his income inequality essay and a few of his essays in Hackers and Painters, but it wasn't fair to call him out specifically, I've edited my comment to reflect that.