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by loco5niner 3214 days ago
> And you are missing my point, most people who are poor do not have a credit card.

I repeat... < that's what the "etc" was for>. I don't think you read my entire comment...

I didn't miss your point. I think we actually agree for the most part. My bit about the time machine was basically saying, if you could go back in time and tell yourself, "hey, buying shiny things is less important than establishing an emergency fund" and similar other wisdom, that would be ideal. Obviously, we don't have a time machine so we can only tell people these things going forward. Sounds a lot like the "financial education" you refer to.
1 comments
Powerofmene 3214 days ago
It does but that is not necessarily a lesson that needs to be learned by those who are poor. If you read the thread here about those of us who have had to clean out our aging parents home it is amazing how much stuff they have that they hold on to forever and really did not serve a purpose other than to have it.

We all make financial mistakes. It is just that the mistakes of the poor have much more profound consequences.

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loco5niner 3214 days ago
When you are saying "that is not necessarily a lesson that needs to be learned by those who are poor".... are you referring to my statement that "buying shiny things is less important than establishing an emergency fund"?

If so, we definitely disagree. Those are the people in most need of an emergency fund.

You mentioned safety nets earlier > the development of safety nets for those all too common but expenses expenses

I would argue that a personal emergency fund is the first form of safety net that everyone should have.

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loco5niner 3214 days ago
> If you read the thread here about those of us who have had to clean out our aging parents home it is amazing how much stuff they have that they hold on to forever and really did not serve a purpose other than to have it.

I'm not sure what the relevance is here?

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