ynotfoster
ynotfoster t1_jadmsz0 wrote
Reply to comment by hellolittlebears in I teach a Math Personal Finance class, help me think of additional lessons/activities. by homeboi808
I would add to save/invest at least half of every raise.
I would also talk about the importance of an emergency fund and discuss what constitutes an emergency.
ynotfoster t1_jadm65z wrote
Reply to I teach a Math Personal Finance class, help me think of additional lessons/activities. by homeboi808
Credit card debt - show what happens when you only pay the minimum.
Mutual fund fees, AUM fees, sales loads - what happens to investments when there is a 1% fee associated with the investments.
Why whole life policies don't make sense.
What happens when you start investing at age 22 vs. age 35.
Health insurance, why it's important to have it.
ynotfoster t1_ja5sccr wrote
Reply to comment by Jeom049 in Is this a Good Car Lease deal? Toyota Corolla LE 2023 by Jeom049
That's because you are asking a question about car prices on a finance forum. Everyone is telling you it is a bad financial decision to lease, if you don't care that you are making a bad financial decision, then maybe you be better off asking this on a car forum or car leasing forum.
ynotfoster t1_j6p9jet wrote
Reply to comment by lovemoonsaults in Has anyone gotten caught paying someone who works in their home under the table? by dotphrasealpha
Yes, and the scariest part is they won't qualify for Medicare if they don't get those 40 quarters of work in.
Elderly and no healthcare is pretty scary.
ynotfoster t1_j6jzvzi wrote
Reply to comment by PM_Georgia_Okeefe in Has anyone gotten caught paying someone who works in their home under the table? by dotphrasealpha
My spouse's grandmother was quite wealthy and employed a full-time housekeeper/cook for decades. Then in came time to retire and the worker had no social security or Medicare because she was paid under the table all that time. The grandmother was wondering if she should give the woman some money to live on. I don't know what she eventually decided to do.
ynotfoster t1_j2cg8vp wrote
Reply to Is my strategy missing anything? by McCallistersFurnace
Damn, I wish I had done that at your age. Congratulations, you are doing well financially.
One rule of thumb is to save half of every raise you get.
Another is to marry someone who is on a similar spending/saving path.
Then keep the finances on autopilot and live your life to the fullest.
ynotfoster t1_je8bmdz wrote
Reply to comment by one-eye-owl in My husband and I owe 22k in taxes but we only made a combine total of 75k by one-eye-owl
Please come back and let us know what you find out. This is rather intriguing.