Food $200
Data $150
Rent $800
Candles $3,600
Utility $150
someone who is good at the economy please help me budget this. my family is dying
I was able to reduce my candle expenses by 10% by switching to unscented candles!
no
Are they unscented or are you just having COVID-19??? :-/
This one simple trick will save more than anything. Just die.
Have you tried, I don’t know, buying less food?
My favorite is the responses to the earnest suggestion of reducing candles. Isn’t it just like “no” matter of factly? Lmao
Bruh 3600 is literally just my beer budget have you tried not being poor?
So $3300 a month just for having two tesla’s? And other debts too? I wonder what debts, since you prioritize the tesla’s over them.
Did you skip economics class or did you miss education in general? That this is unsustainable must have been crystal clear long ago
Yeah this is less annoying Tesla and more real sad American economics. We aren’t taught how to manage debt, and this poor fool has ruined at least the next decade because he wanted two new shiny things and the bank said sure.
In 2008 the banks were to blame for sure for giving out bad debt and then gambling on it, but for me it showed how financially illiterate so many Americans are. The simple difference of seeing what the bank says you can borrow, vs what you should borrow are very very very different things.
We aren’t taught how to manage debt,
Do people need to explicitly be taught “You bring home $5,000 after taxes. You spend $2000 on rent, $1000 on fixed bills, $1000 on semi-fixed expenses, and $500 on fun. Do not buy a thing that raises your fixed expenses by $2000”?
I guess so.
I mean, I think a lot about a guy I worked with years ago. He said as soon as he turned 18 he got a credit card and maxed it out. No plans to pay it. Just enjoyed having a new TV, clothes, xbox, shoes. And then he got in a lot of trouble, which should have surprised no one. But at least he was getting his life together, ten years after the fact. Though we haven’t talked in years. I worry he’s a trumper, despite him being hispanic.
American society tries to force debt on you and they try to hook you as soon as you can legally sign a contract. . When you get into college, you are inundated with offers from tons of CC companies with seemingly good terms but they’re actually horrible. It’ll say something like 12.9% interest rate, but in the fine print it tells you that it jump to 23.9% if you’re late on a payment. One brain fart or patch of bad luck and you’re fucked for as long as they can keep you under their foot.
If you’re fortunate, you had parents who taught you how to avoid the worst of them and to manage debt. But even so, it’s not easy because there are so many traps. Worse still, you have to do it. If you don’t get a credit card, you will have a very bad credit rating. That means when you go to buy a car or anything else that has to be financed you will get shit terms. It even makes it harder to get an apartment because the manager will check your credit before offering you a lease.
If you’re fortunate, you had parents who taught you how to avoid the worst of them and to manage debt.
My parents didn’t especially go out of their way to teach me to be frugal, but I guess I learned from watching them. The idea of buying something I can’t actually afford on a high interest credit card makes my skin crawl.
Youre assuming people put in the effort to know where there money actually goes. A lot of americans have never made a budget. They get to the end of the month/pay period, see how much money they have left, and go spend it.
And like someone else mentioned, its not always consistent. Different months have different needs and income can fluctuate. And they certainly never account for that
Well, economics is a mandated class in my city (not sure about state), so yes, we did the basic “never spend more than what you have” and “calculate plan A vs plan B vs buying something outright” and showing how by-now-pay-later/credit is always worse than just spending what you own, but try to at least get something with low APR when you do have to get loans. Like I looked at whoever had the best APR rates when choosing a credit card for college students, although I always pay the full balance every statement.
But like the other comment said, it’s the fact that it’s hard to teach an 18 year old not to be impulsive with their money, especially if said 18 year old’s parents never really emphasized frugality to their kid. Some people are just crazy and learn only by being burnt, so while I feel negative spending any kind of money outside of bare necessities (gas, lunch), some people max their card out buying Gucci and a PS5 Pro.
We’re taught debt is a scary bad thing, but we also need to learn how to turn your life back around when you start going into debt, or when you’re deep in. Gen Z is already experiencing far more debt than any previous generation, and we have no idea how to get out.
A poll by Talker Research for Newsweek revealed that Gen Z—born 1997-2012—carries the highest average personal debt when compared to older counterparts. Gen Z carries the highest average personal debt, at $94,101—far above millennials ($59,181) and Gen X ($53,255)
Economic reports, including recent findings from the New York Federal Reserve, confirm that Gen Z is falling behind on debt payments at increasing rates, with more than 90-day delinquencies at their highest level in three years.
In your over simplified example I still say yes they should. However we both know it’s more complex than that. Loans, interest rates, interest types, payoff schedules, taxes, credit cards, other types of financing - to a huge chunk of people it is overwhelming. Most Americans go into buy a car or get financing and don’t even ask about interest rates, most only want to know what the monthly payment is.
It never needed to be this complicated. The working class shouldn’t be expected to trust some faraway stranger to invest their money, and then be called illiterate if they pick the wrong stranger or invest poorly themselves. It’s always been to set us up for failure and blame.
The only business that the average person knows more than average about is the one at which they work. But heaven forbid we start voting/betting on what would be best for our own workplaces.
I don’t get why they were approved for 72k when they still owed 44k on the other car. Unless they had a rich cosigner the financial company is partially to blame for seeing their outstanding debt and still trusting them with another 70k.
Oh you can be approved for a ton of debt that you can’t actually afford. Banks take the position that it’s your debt and you can do what you want so long as you can make the payments. They don’t care if you spend 90% of your income on your debt payments. (Remember they get money from the interest so the worse you are at repaying the better it is for them).
When I got my mortgage they approved us for 2.5 times what we asked for it. It was asinine. We took a much more modest house and have been happy with that.
He likely owns a contracting company that thrives off hiring illegal immigrants and his idea of “struggling” is sometimes a big-ticket customer doesn’t pay in cash so he has to pay taxes.
IE: every conservative with money in the entire fucking country.
This isn’t a cybertruck or Tesla issue. This is a stupidity issue.
But they’re posting to Cybertruck Owners Only in order to hear from someone with good judgement.
He’s hoping for a clever solution, like mining Dogecoin with the Cybertruck battery for free heating.
He could get the tent dlc and save on rent. Also doesn’t look out of place under a bridge.
deleted by creator
But there is only one cyber truck…
This dude is paying >50% more on fucking car payments than I do on my mortgage, on top of other debts. Who is lending these people money? Like I make okay money, but I’m still driving a 13 year old vehicle and not feeling like I’m in a position to take on a car payment in this economy.
I think people who shouldn’t are just taking higher interest loans that the dealerships are pushing on them because they are higher risk. They want status symbols and are too dumb to realize they can’t afford them. The car dealer pushes it through because there’s not really any risk for them.
I heard they’re doing ten year loans now for some cars that are around $100k, so I think people are falling for that, then wanting the next new thing and rolling the negative equity into their next one.
… What I can’t grasp is how he still owes $44k on a 3 to 4 year old vehicle that was around $60k to start when his payments are that high. Unless he misspoke and meant $1400 combined and has some long-ass financing term it doesn’t make sense.
You can always find someone willing to offer a loan but they’ll set a higher interest rate for the extra risk.
Just another way the guy should have realized he was being an idiot
He has TWO luxury cars and then he’s “scraping by for too long”?
Why did you finance two luxury cars when you need only a means of transportation?
Maybe he believed Musk’s ‘appreciating asset’ lie. Clearly many people have believed many of Musk’s lies - granted usually not to the point of spending well into six figures on shit cars - but there we go.
Human nature makes it difficult to change once belief in a lie is ingrained. Our mentality is such that we can’t just adapt and change. Too big a psychological change ultimately leads to effects like a psychotic break, or disassociation, or similar traumatic blackouts. These are extremes that aren’t supposed to reflect general day to day stuff, but illustrate a point.
Societies that have experienced really heavy social media use have a strong need for the skills of cult de-programmers right now.
If I can remind you of history, for a few years used teslas kept up prices with new. You couldn’t go wrong.
What everyone forgot then and seem to have forgotten now, is its mostly supply and demand. It has almost nothing to do with the actual car
- For a while there was ridiculous growth and the manufacturer couldn’t keep up with demand, so used car prices stayed high
- now growth has slowed, there are other manufacturers and we’re in an adjustment period where supply is ahead of demand. Of course used prices are low.
Basic supply and demand kiddos
Part of our decay in America is we’re so isolated from discomfort and the world’s problems that our idea of “struggling” is wildly removed from the rest of the world.
dont worry, america as a whole will be getting a wakeup on that soon enough
Psh. “As a whole” if there’s any justice.
Chances are it’ll just disproportionately affect all of us who have to drag ourselves outta bed at 6AM to clock in at 8, and our crippled wages will afford less bread.
And our commuter shitboxes will start to make funny noises and we’ll hope it will roll another week, while they’ll be more costly to insure and keep fueled.
And these people crying about their inconvenient luxuries will definitely be heard the loudest.
“Muh property tax on muh second house went up 0.5%! NOT FAIR!”
“Charging my personal fleet of Rivians and Teslas has gotten more expensive! Everyone else must be a communist and the immigrants did this!”
Or however that sort of brain works.
1400 USD is about 8900 DKK.
This person spends more money on his cars per month than my rent. And he’s complaining about being stuck in a financial bind.
hes paying 3300 USD, 1400 per car(x2) + 500 INS, so even worse
Jesus.
Fucking.
Christ.
Imagine having all that money, then making such an absurd and horrible financial decision just because you’re a Musk fanboy.
You mispronounced fascist. That’s what all cybertruck owners are.
Absolutely insane. More than my mortgage. Really curious how much this person makes. Is it 50% of their net income? 70%? The sheer logicistics seem insane unless you’re making a shitload of money (over 200k).
Americans spend stupid money they don’t have on the stupidest shit, all because they want to impress people.
Jesus fuckin christ, so many layers of memes!
Based on the fact that made perfect sense, I am now certain human language is undergoing a radical transformation.
J. Jonah Jameson, laughing maniacally.
IDK, have you tried sports betting?
everyone who buys one should be buying two, they are very social creatures and can get depressed if they don’t have a friend
Like goats.
Selling the Cybertruck and keeping the Y would be the wise option.
How is the Y the one he’s upside down on?
Nobody wants one because of the implication. Plus cost of ownership of a used Tesla is going to skyrocket as there really isn’t an aftermarket supply chain for them and you’re looking at a battery replacement at some point. It’s like buying a used BMW or Mercedes, they are basically totalled after about 8 years because of the cost to maintain them.
what are the implications? Does it have anything to do with the “i bought this before musk went crazy” stickers? Or something else?
Basically because the CEO started throwing Nazi salutes at a rally, among other things.
Exactly, except the Cybertruck is after he went mask-off and they still bought it.
I assume he’s using a depreciation calculator, based in large part on milage. Y got a pretty good amount of miles on it for not being that old.
Yeah, fair point.
If he’s doing that much driving, the Y isn’t a terrible option, and he’s already taken the big hit on depreciation. I think they’re also reasonably reliable.
Selling the Cybertruck while he still can is definitely the smartest option, and focus on paying off the Y.
Going into debt to buy not only one, but two teslas? I’ll call it bad investment.
You never know, maybe they’ll become classics in the future holds back laughter
No joke the Cybertruck will absolutely be a collectors car in the future. They have all the important attributes for it. Didn’t sell well, so hard to find. Falls apart as soon as anyone looks at them wrong. Terrible design, yet very unique and distinct. Rust issues. No spare parts and otherwise very hard to work on. Some unique feature that requires a weird hack/workaround to even get the thing to drive (probably the software/computer).
Somehow terrible cars always attract a crowd of collectors in a couple of decades.
The 21st Century version of the DeLorean. Except the cybertruck will be used to indicate which character in the movie is a Biff Tannen archetype.
The Delorean is quirky and cool. It has character. The Cybertruck has none of those things.
The only person I could ever see “collecting” it would be Jay Leno, and that tells you what I think of that person
Well yeah because everybody has access to a civic and the capacity to run it
Conmen have a name for people like him, it’s called “a mark”.
Okay, I’m going to leave aside the fact that he’s got two Teslas, which I hate with a passion.
He literally said he’s about even on the Kampfwagen.
The model Y is, for all intents and purposes, all the car anyone really needs (if he NEEDED a truck, he’d have a real truck). He’s upside down on it, sure, but there’s nothing to do about that unless he can pay off extra. However, he can keep making the payments and just driving it. It should still have several years of battery and drivetrain warranty unless Tesla’s is shorter than the industry standard 8 years.
Sell the fucking Panzer and drive the Y until you’ve managed to pay off your stupid debt, numbnuts. I WISH my debt problem was that easy. My ex put me deeeeeep into 5 digits of debt with constant manipulation (it started off with her getting pregnant “on the pill” so she could start threatening me with never seeing the baby if I don’t do the things she wants me to do) and I have NO assets to show for it. Nothing to sell. My car cost me under 2k. Now totals to around 3k with the registration, insurance, maintenance and repairs I’ve done. My only solace is that even after I get everything paid off, nobody’s giving me a loan for another 5 years till the debt registry entries are cleared. I literally can’t get into more debt anymore, other than the interest on old shit, which luckily is capped too.
Except that CyberTruck owners are not allowed to resell for a certain number of years, according to their contract.
Edit: Apparently the contract was only for one year, and it has since been discontinued.
it was one year, and this was removed because it turns out speculating and flipping the Cybertruck was not a thing.
Wait, for real?
That’s super fucked, I could NOT in good conscience enter that agreement even if I wanted one.
Oh wow I didn’t know that.
As someone whose ex rocketed them into debt because they’re a vicious narcissist, I feel you and I’m sorry.
I would have several tens of thousands more dollars if I hadn’t dated my verbally abusive ex who I moved to a new state for, and then they cheated on me. Moving multiple times during that chaos was expensive. Fun stuff. Sorry y’all got screwed over too.
Isn’t it amazing how they weaponize money and everything? It’s honestly terrifying how meticulously manipulative they are.
Money, children (even before birth), everything.
When she was pregnant, I had to talk her off suicide multiple times after minor fights. Some of those times it was followed up with “but will you buy me X like I wanted”?
We owned over 50 strollers in less than 2 years. Many of them bought brand new, all sold with a loss. None were ever good enough. And then she fancied the same model she’d already bought and sold 5 times. Last time she got one of those in particular, I told her it would end our marriage. She laughed it off. We did not buy another stroller after that one and got divorced 2 months later or so. That one stroller was my final line in the sand, after hundreds of other reasons to break up. Sometimes you need a specific “if you do this after I’ve begged you not to, we’re done” because it helps you realise how little respect they have for you.
50 strollers is “you deeply need serious medical attention” territory. Sorry you had to go through that.
Yes, well, unfortunately medical attention is not given to those who don’t seek it.
She is seeing a psychologist about her depression so she can claim she’s a healthy person now, but it’s not like they’re doing anything for the narcissism or the constant need to buy expensive things instead of food. She won’t mention any of the things that show her in a bad light.
So now it’s up to me to prove in court that she is who I say she is.
That’s absolutely batshit. I am so sorry. I’m glad you got away.
Next post will be: hey is it okay to smoke fentanyl? That slightly deranged guy from the neighbourtent said its fun?
