Let's help young working people save for the future....What's your idea?

[1srelluc]

Let's help the youngins' save for their future:

* Pack your own lunch, avoid the morning stop for coffee and such.....Given today's prices you would likely save $25.00 a day.

I read of this one what to do with part of the savings:

If you skip the gas station in the morning and bring your own lunch you save $25.00 a week. Auto draft that $25.00 into a Vanguard fund with an average return of 10%. Say you start at age 25 and retire at 65

After those 40 years of just this contribution you will have around $600,000 in your Vanguard account. You will also save lots of money in medical costs and toilet paper as you will likely need to eat simple healthy foods to stay in your weekly breakfast/lunch budget.

Tuna, chicken and rice, plain cold cut sandwich etc. You won't be fat or poor. Realistically you will likely be able to put away way more than $25/week.

 

[Blaster]

Too many younger folks are spenders and not savers. I believe in saving money for the future and only buying what I actually need.

 

[Crepitus]

Let's help the youngins' save for their future:

* Pack your own lunch, avoid the morning stop for coffee and such.....Given today's prices you would likely save $25.00 a day.

I read of this one what to do with part of the savings:

If you skip the gas station in the morning and bring your own lunch you save $25.00 a week. Auto draft that $25.00 into a Vanguard fund with an average return of 10%. Say you start at age 25 and retire at 65

After those 40 years of just this contribution you will have around $600,000 in your Vanguard account. You will also save lots of money in medical costs and toilet paper as you will likely need to eat simple healthy foods to stay in your weekly breakfast/lunch budget.

Tuna, chicken and rice, plain cold cut sandwich etc. You won't be fat or poor. Realistically you will likely be able to put away way more than $25/week.

Higher minimum wages, cheaper education, and making money management a high school course.

 

[1srelluc]

I learned the whole lunch/morning stop thing back in the 80s when I worked for Dupont.

Back then a Breakfast Bite and a medium cup of coffee at the 7-11 was around $2.25. Lunch in the on-site cafeteria was around $4.50.

That was near $7.00 a day, real money back then, equivalent to $24.00 in today's money.

I know I was not long in stopping that shit and started carrying my provender with me when I left the house.....I still do if I go somewhere.

 

[1srelluc]

Higher minimum wages, cheaper education, and making money management a high school course.

There was home economics class when I was in HS. It was mostly geared to young women though.

 

[cnm]

Higher minimum wages, cheaper education, and making money management a high school course.

Yes. Pretty hard to save when one is in an income class with a greater marginal propensity to consume.

 

[1srelluc]

Yes. Pretty hard to save when one is in an income class with a greater marginal propensity to consume.

So you have no PRACTICAL ideas?

How about overpriced phones and plans.....Simply look for cheaper options. I suspect there are huge savings to be had there.

 

[Invisibleflash]

Let's help the youngins' save for their future:

* Pack your own lunch, avoid the morning stop for coffee and such.....Given today's prices you would likely save $25.00 a day.

I read of this one what to do with part of the savings:

If you skip the gas station in the morning and bring your own lunch you save $25.00 a week. Auto draft that $25.00 into a Vanguard fund with an average return of 10%. Say you start at age 25 and retire at 65

After those 40 years of just this contribution you will have around $600,000 in your Vanguard account. You will also save lots of money in medical costs and toilet paper as you will likely need to eat simple healthy foods to stay in your weekly breakfast/lunch budget.

Tuna, chicken and rice, plain cold cut sandwich etc. You won't be fat or poor. Realistically you will likely be able to put away way more than $25/week.

Yes, that's a big one. Eating out is a budget buster. I seldom eat out. Teeth are shot, so I have a special diet. Even when teeth were half-ass, I preferred to make my own food.

Kids will have a tough time in the new America. People may have a hard time getting by on their own. Maybe communes or the Amish style of life will have a boost. Or at least getting married or have a partner / roommate to share expenses. No easy answers to the fuckery IM2 that has destroyed America.

 

[Crepitus]

There was home economics class when I was in HS. It was mostly geared to young women though.

They weren't about budgets and money managment.

 

[cnm]

So you have no PRACTICAL ideas?

A piece of chicken, a piece of broccoli, a taco and one other thing.

 

[80zephyr]

What the hell ever happened to mobile homes? When I was young many of us "kids" would start out in one, save, then upgrade.

Today, kids seem to want to have it all. Now.

 

[Woodznutz]

So you have no PRACTICAL ideas?

How about overpriced phones and plans.....Simply look for cheaper options. I suspect there are huge savings to be had there.

Ditch the smartphones altogether. Better for mental health.

 

[Woodznutz]

There's little hope for the younger generation. Don't waste your time trying to teach them anything.

 

[TheInfiniteSadness]

Let's help the youngins' save for their future:

* Pack your own lunch, avoid the morning stop for coffee and such.....Given today's prices you would likely save $25.00 a day.

I read of this one what to do with part of the savings:

If you skip the gas station in the morning and bring your own lunch you save $25.00 a week. Auto draft that $25.00 into a Vanguard fund with an average return of 10%. Say you start at age 25 and retire at 65

After those 40 years of just this contribution you will have around $600,000 in your Vanguard account. You will also save lots of money in medical costs and toilet paper as you will likely need to eat simple healthy foods to stay in your weekly breakfast/lunch budget.

Tuna, chicken and rice, plain cold cut sandwich etc. You won't be fat or poor. Realistically you will likely be able to put away way more than $25/week.

I work with about ten people and we stay in hotels. Six of them are under twenty and in the morning they go to gas stations to get lunch. Sometimes for breakfast because they didn't get up early enough. What they buy for lunch is usually about $20 (can). Sometimes more

 

[Woodznutz]

In 1957 a weekly meal ticket at my high school cafeteria cost $1.35 (and you could go back for seconds). Today that would cost $15.88 or just over $3 per meal. Still not bad.

How Much is $1.35 in 1957 Worth Now?

www.savvydollar.com

 

[Woodznutz]

I would recommend my father's method. Support the kids through high school. After that they're on their own. They've got 20-30 more years than you do. Plenty of time to figure it out.

 

[JustAnotherNut]

They need to get a job first. Too many youngins expect someone else to take care of them

 

[Zincwarrior]

Let's help the youngins' save for their future:

* Pack your own lunch, avoid the morning stop for coffee and such.....Given today's prices you would likely save $25.00 a day.

I read of this one what to do with part of the savings:

If you skip the gas station in the morning and bring your own lunch you save $25.00 a week. Auto draft that $25.00 into a Vanguard fund with an average return of 10%. Say you start at age 25 and retire at 65

After those 40 years of just this contribution you will have around $600,000 in your Vanguard account. You will also save lots of money in medical costs and toilet paper as you will likely need to eat simple healthy foods to stay in your weekly breakfast/lunch budget.

Tuna, chicken and rice, plain cold cut sandwich etc. You won't be fat or poor. Realistically you will likely be able to put away way more than $25/week.

Boomers telling Gen Z how to save. Comedy genius.

 

[JustAnotherNut]

Higher minimum wages, cheaper education, and making money management a high school course.

While the rest of your post is your typical bs........I do agree with this part and to make it mandatory. Teach them they need to get a job and how to get a job, how to budget, do yearly taxes and include savings. Showing them that if they saved even as little as $10 per paycheck, and investing that.....how much they'd have in 20, 30 & 40 years with interest. Also how to change jobs to improve their lives. Include their credit standing, etc

 

[1srelluc]

Boomers telling Gen Z how to save. Comedy genius.

There's some truth in that given how my generation would go through two or three wives and have kids with each one and still be debt ridden.

Of course the ones that did that are either still working or got on SSDI "disability". Not much of an example to follow sure enough.