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How much of being poor can be attributed to ignorance?

How much of being poor is due to ignorance?

  • Total voters
    43
  • Poll closed .
L

lefty louie

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Part of being poor is lack of hard work, another part is being ignorant, not knowing how to spend money, not knowing how to save money and not knowing how to invest it.

I was taught early on how to save money by my parents, I learned out of necessity how to shop off season for bargains, but it took someone to teach me about investing and using my money to work for me.

We all know hard working people that just buy everything via a credit card and pay the high interest rates, that is so counter productive, the rule for the most part is, if you can't pay it in full each month then do without.

Buying a bathing suit in June is just wrong too, you should buy one in Sept for less then 1/2 price.

Investing, well I'm not going to give any tutorials on the stack market, but I can share some info on buying homes and real estate in general, also buying investment properties and how to leverage your equity to buy additional units.

So all this said, how much of being and remaining poor is just that no one took the time to teach you the little tricks?
 
I'm not sure rich people have a lower incidence of ignorance. Maybe because education is a factor. Show me an uneducated rich person and it's a coin flip.
 
lefty louie said:
Part of being poor is lack of hard work, another part is being ignorant, not knowing how to spend money, not knowing how to save money and not knowing how to invest it.

I was taught early on how to save money by my parents, I learned out of necessity how to shop off season for bargains, but it took someone to teach me about investing and using my money to work for me.

We all know hard working people that just buy everything via a credit card and pay the high interest rates, that is so counter productive, the rule for the most part is, if you can't pay it in full each month then do without.

Buying a bathing suit in June is just wrong too, you should buy one in Sept for less then 1/2 price.

Investing, well I'm not going to give any tutorials on the stack market, but I can share some info on buying homes and real estate in general, also buying investment properties and how to leverage your equity to buy additional units.

So all this said, how much of being and remaining poor is just that no one took the time to teach you the little tricks?
Click to expand...

When you're poor you often live pay check to pay check. Investing is simply out of the question for most people that are poor. And depending on the area you live in buying a swim suit in June may be the only time that swim suit may be around. For example, the area that I live in rotates their stock depending on season. You won't find a single swim suit in my area starting in August or September. As for credit cards...I don't know anyone personally that owns a credit card. All bills are paid the moment the check comes in.

This is not to say that there are not poor people that can't do the things you suggest. There are varying degrees of poorness after all. But in my experience credit cards, swim suits, and investing is simply a luxury. When I go swimming I use the same pants I wear every day in the nearest lake that's worth swimming in.
 
there are enuff riches in the world so, that there is no financial reason for any human to be 'poor'

humans are generally greedy, they desire to hoard their wealth which is ignorant, that wealth has the real potential to eradicate the masses of the 'poor' but ignorance does not allow the rich to unleash their massive hoards of wealth to rid the planet of the 'poor'

So, as a result I voted 76% - 100% .......................
 
lefty louie said:
So all this said, how much of being and remaining poor is just that no one took the time to teach you the little tricks?
Click to expand...

I can't tell you a percentage. What I can tell you is that loan sharks taking advantage of poor people with exorbitant interest rates is abhorrent. Getting rich on the backs of the poor is about as low as it gets.
 
lefty louie said:
Part of being poor is lack of hard work, another part is being ignorant, not knowing how to spend money, not knowing how to save money and not knowing how to invest it.

I was taught early on how to save money by my parents, I learned out of necessity how to shop off season for bargains, but it took someone to teach me about investing and using my money to work for me.

We all know hard working people that just buy everything via a credit card and pay the high interest rates, that is so counter productive, the rule for the most part is, if you can't pay it in full each month then do without.

Buying a bathing suit in June is just wrong too, you should buy one in Sept for less then 1/2 price.

Investing, well I'm not going to give any tutorials on the stack market, but I can share some info on buying homes and real estate in general, also buying investment properties and how to leverage your equity to buy additional units.

So all this said, how much of being and remaining poor is just that no one took the time to teach you the little tricks?
Click to expand...

The guy who says "Your education is your fault, and your problem" does not approve of the last sentence. If people are victimized by their ignorance then they did it to themselves.
 
phattonez said:
I can't tell you a percentage. What I can tell you is that loan sharks taking advantage of poor people with exorbitant interest rates is abhorrent. Getting rich on the backs of the poor is about as low as it gets.
Click to expand...

like slavery, which was at one time OK ...........
 
Kal'Stang said:
When you're poor you often live pay check to pay check. Investing is simply out of the question for most people that are poor. And depending on the area you live in buying a swim suit in June may be the only time that swim suit may be around. For example, the area that I live in rotates their stock depending on season. You won't find a single swim suit in my area starting in August or September. As for credit cards...I don't know anyone personally that owns a credit card. All bills are paid the moment the check comes in.

This is not to say that there are not poor people that can't do the things you suggest. There are varying degrees of poorness after all. But in my experience credit cards, swim suits, and investing is simply a luxury. When I go swimming I use the same pants I wear every day in the nearest lake that's worth swimming in.
Click to expand...

Being ignorant is not a crime, playing so should be. If bathing suits sell out in Aug. then you buy them when only a few remain and they are getting ready for back to school clothes. If you live pay check to pay check and can't find and extra $5 per week your not working enough hours or you've made too many mistakes in your life to correct without time, lots of time. If you take $5 per week and put it aside for a year then buy $240 worth of stock with a fee of $10 to the online broker you'll have the start of an investment portfolio.

I find it hard to swallow that you don't know anyone with a credit card.
 
lefty louie said:
Being ignorant is not a crime, playing so should be. If bathing suits sell out in Aug. then you buy them when only a few remain and they are getting ready for back to school clothes. If you live pay check to pay check and can't find and extra $5 per week your not working enough hours or you've made too many mistakes in your life to correct without time, lots of time. If you take $5 per week and put it aside for a year then buy $240 worth of stock with a fee of $10 to the online broker you'll have the start of an investment portfolio.
Click to expand...

Note: You cannot afford to do that if you have student loans at 6% interest. Putting all your money to essentially just pay the interest means you're stuck in debt for life. The most insidious part about it is that the poor will get stuck in this system with no way out. This is why pawn shops were first invented, to get the poor out of this cycle.
 
holbritter said:
But now it's not. What's your point?
Click to expand...

it should be obvious but here; I'll spell it out 4 U

"Getting rich on the backs of the poor is about as low as it gets" is this nation's history.
 
cuban smokes said:
it should be obvious but here; I'll spell it out 4 U

"Getting rich on the backs of the poor is about as low as it gets" is this nation's history.
Click to expand...

Utter nonsense. Everyone getting rich and being self-sufficient is this nation's history. That ideal has been corrupted as this has taken over:

OriginsOfUSProfits.jpg
 
phattonez said:
Note: You cannot afford to do that if you have student loans at 6% interest. Putting all your money to essentially just pay the interest means you're stuck in debt for life. The most insidious part about it is that the poor will get stuck in this system with no way out. This is why pawn shops were first invented, to get the poor out of this cycle.
Click to expand...

Did you not read the part where I said, if you made mistakes early on and can't afford.......only time will help you overcome? Again if you have student loans (6% is not that high) that's a mistake someone made out of ignorance or stupidity. Go to schools you can afford, work so you don't need a loan.
 
This entire thread is perhaps the most ridiculous way imaginable to discuss why the poor are poor.
 
lefty louie said:
Did you not read the part where I said, if you made mistakes early on and can't afford.......only time will help you overcome? Again if you have student loans (6% is not that high) that's a mistake someone made out of ignorance or stupidity. Go to schools you can afford, work so you don't need a loan.
Click to expand...

Should the mistakes of youth make someone indebted for the rest of their life? And 6% is very high. That's way above the rate of inflation. Median household income growth has been in the 4-5% range in the past few years; in 2014 it was nearly 0.

Here's an idea. Instead of lenders giving risky borrowers higher interest rates, how about they don't give them loans that they know they can't afford, especially when it's used for things that they don't need. Do you think that preying off of stupidity is a respectable means of income?
 
phattonez said:
Utter nonsense. Everyone getting rich and being self-sufficient is this nation's history. That ideal has been corrupted as this has taken over:

OriginsOfUSProfits.jpg
Click to expand...

the US built an economy on the backs of salves for many decades & many became wealthy. That wealth was invested many times over.
If you believe that had no influence in the building of this nation, and the wealth of this nation, then I must be living on Saturn ............
 
lefty louie said:
Being ignorant is not a crime, playing so should be. If bathing suits sell out in Aug. then you buy them when only a few remain and they are getting ready for back to school clothes. If you live pay check to pay check and can't find and extra $5 per week your not working enough hours or you've made too many mistakes in your life to correct without time, lots of time. If you take $5 per week and put it aside for a year then buy $240 worth of stock with a fee of $10 to the online broker you'll have the start of an investment portfolio.
Click to expand...

And you show where the disconnect happens. $5 a week, or $10 every two weeks which is what most poor people get paid at, every two weeks, is enough for a meal. Its also not uncommon for poor people to be overdrawn on their bank account before they get paid again. Which still means no $5 per week. When people say that they are living pay check to pay check they mean it quite literally. Every penny of every check is used up before the next check comes around.

lefty louie said:
I find it hard to swallow that you don't know anyone with a credit card.
Click to expand...

Well, swallow it because its true. I don't have a credit card. No one on either side of my family has one. None of my friends do either.
 
cuban smokes said:
the US built an economy on the backs of salves for many decades & many became wealthy. That wealth was invested many times over.
If you believe that had no influence in the building of this nation, and the wealth of this nation, then I must be living on Saturn ............
Click to expand...

Really? The country was built on cotton? I thought it was built on steel, automobiles, and a plethora of agricultural products. I didn't realize that everything was built from cotton.
 
lefty louie said:
Part of being poor is lack of hard work, another part is being ignorant, not knowing how to spend money, not knowing how to save money and not knowing how to invest it.

I was taught early on how to save money by my parents, I learned out of necessity how to shop off season for bargains, but it took someone to teach me about investing and using my money to work for me.

We all know hard working people that just buy everything via a credit card and pay the high interest rates, that is so counter productive, the rule for the most part is, if you can't pay it in full each month then do without.

Buying a bathing suit in June is just wrong too, you should buy one in Sept for less then 1/2 price.

Investing, well I'm not going to give any tutorials on the stack market, but I can share some info on buying homes and real estate in general, also buying investment properties and how to leverage your equity to buy additional units.

So all this said, how much of being and remaining poor is just that no one took the time to teach you the little tricks?
Click to expand...
The only people who can honestly claim that they achieved success on their own are the ones that aren't smart enough to comprehend how fortunate they really are.
 
lefty louie said:
Part of being poor is lack of hard work, another part is being ignorant, not knowing how to spend money, not knowing how to save money and not knowing how to invest it.

I was taught early on how to save money by my parents, I learned out of necessity how to shop off season for bargains, but it took someone to teach me about investing and using my money to work for me.

We all know hard working people that just buy everything via a credit card and pay the high interest rates, that is so counter productive, the rule for the most part is, if you can't pay it in full each month then do without.

Buying a bathing suit in June is just wrong too, you should buy one in Sept for less then 1/2 price.

Investing, well I'm not going to give any tutorials on the stack market, but I can share some info on buying homes and real estate in general, also buying investment properties and how to leverage your equity to buy additional units.

So all this said, how much of being and remaining poor is just that no one took the time to teach you the little tricks?
Click to expand...

Being poor is a matter of luck. The poor don't invest except in food, rent, or heat. You might as well offer them free flying lessons as investment tricks.
 
so many things play a part

parents
education
luck
work ethic
choices
health

there is no one answer as to why the poor are poor. would they as a whole do better if someone had guided them at younger ages...sure, maybe

we are a product of our environment....for better or worse....some are luckier than others with two parents that care, decent schools, and the basics of money management

others get none of that....but there is no one answer to that question....way to complex for that
 
phattonez said:
Really? The country was built on cotton? I thought it was built on steel, automobiles, and a plethora of agricultural products. I didn't realize that everything was built from cotton.
Click to expand...

It was built on immigration. Which is more than a little ironic.

The mercantile era was rum, slaves and cotton, by and large.

It was the rise of industry, and the immigrants that worked in those factories, that shifted the power from the South to the North. That was the beginning of capitalism, and of the Modern era.
 
phattonez said:
Should the mistakes of youth make someone indebted for the rest of their life? And 6% is very high. That's way above the rate of inflation. Median household income growth has been in the 4-5% range in the past few years; in 2014 it was nearly 0.

Here's an idea. Instead of lenders giving risky borrowers higher interest rates, how about they don't give them loans that they know they can't afford, especially when it's used for things that they don't need. Do you think that preying off of stupidity is a respectable means of income?
Click to expand...

6% high, I guess you don't remember Jimmy Carter, you should acquaint yourself with him. Youth and adulthood, well maybe those yutes should listen to their parents. Here's an idea, maybe they should become informed before they leap off a cliff. I swear, me and my HS education was never in debt, and here you have all these so called success stories of higher learning crying that they are in debt because of loans they took out.
 
late said:
It was built on immigration. Which is more than a little ironic.

The mercantile era was rum, slaves and cotton, by and large.

It was the rise of industry, and the immigrants that worked in those factories, that shifted the power from the South to the North. That was the beginning of capitalism, and of the Modern era.
Click to expand...

What percent of American GDP growth was due to immigration? I'd love to see an estimate.
 
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