Comments on: Young people are already rich http://monevator.com/2009/07/22/young-people-rich/ Make more money, invest profitably, retire early Thu, 09 Feb 2012 22:57:41 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Mr J http://monevator.com/2009/07/22/young-people-rich/comment-page-1/#comment-91878 Mr J Sun, 31 Jul 2011 15:23:20 +0000 http://monevator.com/?p=2247#comment-91878 Great post - I found it via a link on your twitter feed. Nice social commentary too, which is always interesting. I'm not going to discuss women's spending habits... But as you say the greater proportion of male readers of your blog and financial advice in general is probably an indicator of something... Just to say that I've seen girls in their young 20's on 40-50K a year salaries live in constant debt due to their penchant for hand bags! Anyway, I'm 26 and have saved 300 a month for the past 2 years and now 400 a month since this tax year. I live in a nice flat, and buy nice clothes, although I tend to buy few items but the more expensive/designer items when I do spend. I track every single item I spend through my own system I've devised and therefore am never in debt. I have an Amex card with no limit yet never abuse this... I guess I'm lucky that I have a reasonably well paid job but more than anything I think it's this control of the finances which allows me to spend comfortably and within my means. Of course, most people are actually terrified to really plot out what they really spend... And whilst they think that tracking spending will make them feel poorer, in the long term it will make them feel much much richer. Thanks for the blog! Great post – I found it via a link on your twitter feed. Nice social commentary too, which is always interesting.

I’m not going to discuss women’s spending habits… But as you say the greater proportion of male readers of your blog and financial advice in general is probably an indicator of something… Just to say that I’ve seen girls in their young 20′s on 40-50K a year salaries live in constant debt due to their penchant for hand bags!

Anyway, I’m 26 and have saved 300 a month for the past 2 years and now 400 a month since this tax year. I live in a nice flat, and buy nice clothes, although I tend to buy few items but the more expensive/designer items when I do spend. I track every single item I spend through my own system I’ve devised and therefore am never in debt. I have an Amex card with no limit yet never abuse this…

I guess I’m lucky that I have a reasonably well paid job but more than anything I think it’s this control of the finances which allows me to spend comfortably and within my means. Of course, most people are actually terrified to really plot out what they really spend… And whilst they think that tracking spending will make them feel poorer, in the long term it will make them feel much much richer. Thanks for the blog!

]]> By: Si http://monevator.com/2009/07/22/young-people-rich/comment-page-1/#comment-77490 Si Thu, 28 Apr 2011 15:31:02 +0000 http://monevator.com/?p=2247#comment-77490 I'm 21 and I have £xx,xxx saved in the bank. (To put it simply, because naturally as a reader of this blog, it's actually in a portfolio). This came from a few work placements, income from my own blog, and some inheritance. And so as I graduate in July you could say I was a ridiculously wealthy student. I feel it, because my peers have a more typical spending regime. However do I feel beautiful? Not so much. It appears that your suggestion of hanging around with older people is probably correct, The Peer Group is Everything. So I'd like to turn it around a little and aim it at you folks in your 40's. If you want to feel financially wealthy, hang out with younger people! They're generally skint and also have alot to say! I’m 21 and I have £xx,xxx saved in the bank. (To put it simply, because naturally as a reader of this blog, it’s actually in a portfolio). This came from a few work placements, income from my own blog, and some inheritance. And so as I graduate in July you could say I was a ridiculously wealthy student. I feel it, because my peers have a more typical spending regime. However do I feel beautiful? Not so much.

It appears that your suggestion of hanging around with older people is probably correct, The Peer Group is Everything. So I’d like to turn it around a little and aim it at you folks in your 40′s.

If you want to feel financially wealthy, hang out with younger people! They’re generally skint and also have alot to say!

]]> By: Aarabi http://monevator.com/2009/07/22/young-people-rich/comment-page-1/#comment-63340 Aarabi Wed, 22 Dec 2010 15:06:56 +0000 http://monevator.com/?p=2247#comment-63340 Hey monevator! At 24 and expecting my first ever big employee salary tomorrow, I'm really glad I found your post! Well, Len linked to it and I'm a big fan of his blog. It's really great that you guys give us so much info and guidelines on how to handle money and keep our feet on the ground. I, for one, am an electrical engineer, but I love couture fashion (sometimes even more than other girls do) and a good scarf can have my hands itching. But I have a 20% rule with clothes. If my bill is going to be around 20% of my monthly budget, then it's out of the question. I'm trying to cut this shorter and hope to be helped by bloggers like you! Keep writing and inspiring! Hey monevator! At 24 and expecting my first ever big employee salary tomorrow, I’m really glad I found your post! Well, Len linked to it and I’m a big fan of his blog. It’s really great that you guys give us so much info and guidelines on how to handle money and keep our feet on the ground. I, for one, am an electrical engineer, but I love couture fashion (sometimes even more than other girls do) and a good scarf can have my hands itching. But I have a 20% rule with clothes. If my bill is going to be around 20% of my monthly budget, then it’s out of the question. I’m trying to cut this shorter and hope to be helped by bloggers like you! Keep writing and inspiring!

]]> By: Why dont the Middle Class do Forward Planning? « Simple Living in Suffolk http://monevator.com/2009/07/22/young-people-rich/comment-page-1/#comment-61052 Why dont the Middle Class do Forward Planning? « Simple Living in Suffolk Mon, 06 Dec 2010 12:11:28 +0000 http://monevator.com/?p=2247#comment-61052 [...] what part of television people don’t understand. The human race isn’t noted for getting more beautiful as it gets older, and sheer self-preservation would seem to make it a good idea to bear this in mind. [...] [...] what part of television people don’t understand. The human race isn’t noted for getting more beautiful as it gets older, and sheer self-preservation would seem to make it a good idea to bear this in mind. [...]

]]> By: Benn Warren http://monevator.com/2009/07/22/young-people-rich/comment-page-1/#comment-38912 Benn Warren Mon, 28 Jun 2010 18:40:36 +0000 http://monevator.com/?p=2247#comment-38912 I read this post and it inspires me to do better with myself. I aspire to be wealthy, and I always look for tips and mentors to guide me. I'm only 21 but in a few years time I would like to able to write an article giving advice as to how I became successful for people younger then me who are seeking advice like I am. Thank you for your wise words. And also to the people commenting on this, your insight is eye opening. :) I read this post and it inspires me to do better with myself. I aspire to be wealthy, and I always look for tips and mentors to guide me. I’m only 21 but in a few years time I would like to able to write an article giving advice as to how I became successful for people younger then me who are seeking advice like I am. Thank you for your wise words. And also to the people commenting on this, your insight is eye opening. :)

]]> By: The Investor http://monevator.com/2009/07/22/young-people-rich/comment-page-1/#comment-36964 The Investor Tue, 08 Jun 2010 09:47:26 +0000 http://monevator.com/?p=2247#comment-36964 @MR - Blog posts never die! Thanks for posting your thoughts, feel free to do so on any old posts where you have something to share. :) @MR – Blog posts never die! Thanks for posting your thoughts, feel free to do so on any old posts where you have something to share. :)

]]> By: News Roundup http://monevator.com/2009/07/22/young-people-rich/comment-page-1/#comment-36838 News Roundup Mon, 07 Jun 2010 02:21:13 +0000 http://monevator.com/?p=2247#comment-36838 [...] The Young and the Beautiful [...] [...] The Young and the Beautiful [...]

]]> By: Money Reasons http://monevator.com/2009/07/22/young-people-rich/comment-page-1/#comment-36678 Money Reasons Sat, 05 Jun 2010 21:18:58 +0000 http://monevator.com/?p=2247#comment-36678 Wow, look at me posting on this article that was created last year... But I have to say, you are correct. Perhaps that is why younger woman date older men... Because the older men can see how beautiful the younger woman really are... Oh, by the way... great quote by Joan Collins, it rings very true! .-= Money Reasons on: <a href="http://www.moneyreasons.com/2010/06/priceless-memories-daughter-and-daddy-night-out/" rel="nofollow">Priceless Memories, Daughter And Daddy Night Out</a> =-. Wow, look at me posting on this article that was created last year…

But I have to say, you are correct. Perhaps that is why younger woman date older men… Because the older men can see how beautiful the younger woman really are…

Oh, by the way… great quote by Joan Collins, it rings very true!
.-= Money Reasons on: Priceless Memories, Daughter And Daddy Night Out =-.

]]> By: Ivar Sala http://monevator.com/2009/07/22/young-people-rich/comment-page-1/#comment-35759 Ivar Sala Sat, 29 May 2010 10:57:48 +0000 http://monevator.com/?p=2247#comment-35759 Great post. I completely agree. Young people are rich. .-= Ivar Sala on: <a href="http://www.traderivar.com/2010/05/developing-discipline.html" rel="nofollow">Developing Discipline</a> =-. Great post.
I completely agree. Young people are rich.
.-= Ivar Sala on: Developing Discipline =-.

]]> By: The Investor http://monevator.com/2009/07/22/young-people-rich/comment-page-1/#comment-29047 The Investor Thu, 18 Mar 2010 10:23:14 +0000 http://monevator.com/?p=2247#comment-29047 @Mills - I wouldn't beat yourself up. It's not ideal in my book, but many people will tell you that you did the right thing enjoying yourself while you were young. If you've got no debts and you've already had this 'wake up call' at your young age, I wouldn't worry as you'll hopefully have a good attitude going forward, know to avoid debts and save and so on. Some people are 50 or more before they realize that, when it's usually too late. Good luck! @Mills – I wouldn’t beat yourself up. It’s not ideal in my book, but many people will tell you that you did the right thing enjoying yourself while you were young. If you’ve got no debts and you’ve already had this ‘wake up call’ at your young age, I wouldn’t worry as you’ll hopefully have a good attitude going forward, know to avoid debts and save and so on. Some people are 50 or more before they realize that, when it’s usually too late. Good luck!

]]> By: Mills http://monevator.com/2009/07/22/young-people-rich/comment-page-1/#comment-28892 Mills Wed, 17 Mar 2010 14:41:55 +0000 http://monevator.com/?p=2247#comment-28892 Well, i am 26 years old. In the last 3 years i spent 30,000.00 on traveling,new computer and a car i couldn't maintain. Do you guys think it's bad spending 30,000.00 in 3 years traveling and buying things you want? now i am finishing my degree and getting into my job as a police officer. It's depressing to know that i had savings and spent it. It haunts me everyday! Also when i attend school, i pay for it right away so i come out with no depts. Please give me some feed-back. Well, i am 26 years old. In the last 3 years i spent 30,000.00 on traveling,new computer and a car i couldn’t maintain. Do you guys think it’s bad spending 30,000.00 in 3 years traveling and buying things you want? now i am finishing my degree and getting into my job as a police officer. It’s depressing to know that i had savings and spent it. It haunts me everyday! Also when i attend school, i pay for it right away so i come out with no depts. Please give me some feed-back.

]]> By: The Investor http://monevator.com/2009/07/22/young-people-rich/comment-page-1/#comment-23856 The Investor Sun, 07 Feb 2010 11:43:52 +0000 http://monevator.com/?p=2247#comment-23856 @Irina, very wise words - always good to hear from someone who has been there and got the badge. I was lucky in that I shook off the spending itch very early in my life, but I still spent too much on stuff I shouldn't have (e.g. clothes) and perhaps not enough on where my money should have gone (e.g. travel). Luckily dinner and similar with friends and my partner was always in the mix... it's all about love as you say, however hard it is to say that in your 20s. :) @Irina, very wise words – always good to hear from someone who has been there and got the badge. I was lucky in that I shook off the spending itch very early in my life, but I still spent too much on stuff I shouldn’t have (e.g. clothes) and perhaps not enough on where my money should have gone (e.g. travel). Luckily dinner and similar with friends and my partner was always in the mix… it’s all about love as you say, however hard it is to say that in your 20s. :)

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