Why are so many of our people defiant when it comes to financial literacy

[Bussy_Getta]

Because instant gratification

/thread

 

[2stepz_ahead]

Because instant gratification

/thread

but why is that ok....wit cho fine ass.....

*Pralims stay focused*

ms co....

why is that ok

 

[EmM HoLLa.]

Can't speak for everyone... But in my estimation it's about balance.. You should be able to enjoy the fruits of your labor today and still be able to position yourself for tomorrow.

Ultimately, we can agree you don't get rich by saving.. You gotta invest wisely.. Even the stock market for someone who is in the middle class it will take damn near a lifetime to get rich investing in stocks.. On top of that one bad year can wipe out all of your returns.. See 2008.. What do you tell the person who did what they thought was right and lost a lot of their money back in 08 when Lehman Brothers and these other companies went under?.. It's about balance..

 

[Bussy_Getta]

Because instant gratification

/thread

but why is that ok....wit cho fine ass.....

*Pralims stay focused*

ms co....

why is that ok

It's a psychological thing that people need to get over. Hell even I've done it but I tend to want less than others or I'll find another way to get it, so it's easier for me to say "no" to myself.

 

[2stepz_ahead]

Can't speak for everyone... But in my estimation it's about balance.. You should be able to enjoy the fruits of your labor today and still be able to position yourself for tomorrow.

Ultimately, we can agree you don't get rich by saving.. You gotta invest wisely.. Even the stock market for someone who is in the middle class it will take damn near a lifetime to get rich investing in stocks.. On top of that one bad year can wipe out all of your returns.. See 2008.. What do you tell the person who did what they thought was right and lost a lot of their money back in 08 when AIG and these other companies went under?.. It's about balance..

i took all my money out right before that happened. i said it on this site.

but what would i tell someone....i really would use comparisons..shit happens.

you carry an pocket full of money...the stick up boys get you....do you not carry money around no more

you keep it in the mattress...niggas rob ya crib an take it....do you not hide it in ya crib anymore

do you just let it sit in the bank and not do nothing....thats easy to spend.

but if you made money...would you be having doubts about doing it again....

cant be pussy cause it aint work in your favor...cause if it did then we would be having a different convo..

so shit happens

 

[2stepz_ahead]

Because instant gratification

/thread

but why is that ok....wit cho fine ass.....

*Pralims stay focused*

ms co....

why is that ok

It's a psychological thing that people need to get over. Hell even I've done it but I tend to want less than others or I'll find another way to get it, so it's easier for me to say "no" to myself.

you still fine.....

i couldnt say no to you

 

[Bussy_Getta]

Because instant gratification

/thread

but why is that ok....wit cho fine ass.....

*Pralims stay focused*

ms co....

why is that ok

It's a psychological thing that people need to get over. Hell even I've done it but I tend to want less than others or I'll find another way to get it, so it's easier for me to say "no" to myself.

you still fine.....

i couldnt say no to you

Oh nigga boo! You said no to me in that other thread :-(

 

[EmM HoLLa.]

Can't speak for everyone... But in my estimation it's about balance.. You should be able to enjoy the fruits of your labor today and still be able to position yourself for tomorrow.

Ultimately, we can agree you don't get rich by saving.. You gotta invest wisely.. Even the stock market for someone who is in the middle class it will take damn near a lifetime to get rich investing in stocks.. On top of that one bad year can wipe out all of your returns.. See 2008.. What do you tell the person who did what they thought was right and lost a lot of their money back in 08 when AIG and these other companies went under?.. It's about balance..

i took all my money out right before that happened. i said it on this site.

but what would i tell someone....i really would use comparisons..shit happens.

you carry an pocket full of money...the stick up boys get you....do you not carry money around no more

you keep it in the mattress...niggas rob ya crib an take it....do you not hide it in ya crib anymore

do you just let it sit in the bank and not do nothing....thats easy to spend.

but if you made money...would you be having doubts about doing it again....

cant be pussy cause it aint work in your favor...cause if it did then we would be having a different convo..

so shit happens

I mean scared money don't make money I agree.. Just trying to rationalize why people rather not invest.. Investing isn't 100%.. There is some risk associated with it.. And the return especially if you don't have a lot of money to begin with is very small..

 

[Fosheezy]

Most Niggas out here don't even have living wages. What financial decision can they can even make that will be life-changing? being in such position they have limited options.

 

[blackrain]

Ego...people like to feel like they figured it out themselves instead of saying someone helped them. That stupid ass "I did it all by myself" delusional mindset has been the downfall of many. Notice one thing you, @Sion, @BOSSExcellence and a few others say consistently in threads like these is things we've heard from either our mentors or just people in general we kept our ears open to. Many can't humble themselves enough to do that

 

[_Goldie_]

Niggas these days only think about ways to help themselves. It's fucked up to think about life after you're gone, but niggas getting life insurance would have their families living good after their gone, especially these mfs in the streets.

Shit if my son ends up in a gang I'm making that nigga get life insurance asap! Ima be eatin good off that dumb mf.

 

[2stepz_ahead]

Most Niggas out here don't even have living wages. What financial decision can they can even make that will be life-changing? being in such position they have limited options.

thats why people who would be considered as "making it" should be willing to help them get into a better position. and those considered "not making it" should be willing to listen.

those that "have" is never far from the hood and the hood is not that far to make it out of.

rich and poor blacks are still black. im not different to someone still in the projects. i rather more take a step to come up than some nigga trynna bring another down.

 

[Bussy_Getta]

I try to help people all the time now that I'm doing good but shit some people want a hand out not help.

 

[2stepz_ahead]

Ego...people like to feel like they figured it out themselves instead of saying someone helped them. That stupid ass "I did it all by myself" delusional mindset has been the downfall of many. Notice one thing you, @Sion, @BOSSExcellence and a few others say consistently in threads like these is things we've heard from either our mentors or just people in general we kept our ears open to. Many can't humble themselves enough to do that

very true....

you never know someones story..they can be rich but bored, rich but trynna stay humble, or once rich and lost it all.

i can learn from them all.

i am never too big or too smart to listen. there is always someone with more than me..even if its less than me in one area they may be rich in another area

 

[2stepz_ahead]

Niggas these days only think about ways to help themselves. It's fucked up to think about life after you're gone, but niggas getting life insurance would have their families living good after their gone, especially these mfs in the streets.

Shit if my son ends up in a gang I'm making that nigga get life insurance asap! Ima be eatin good off that dumb mf.

i once made a thread about life insurance...

niggas said they dont have kids...

but what about your mom or sisters... or some fukking family.

why not help out.

niggas always fast to say...they'd give if they have but dont wanna leave shit to no one.

there are people here in swiss whos house been passed down many generations....shit is unheard of where im from.

 

[Ol Jay's]

you have no clue what niggas got saved, how do you even come to the assumption black people don't save

I'm telling you niggas out here with money, saving and investing, don't be ignorant

 

[2stepz_ahead]

you have no clue what niggas got saved, how do you even come to the assumption black people don't save

I'm telling you niggas out with money, saving and investing, don't be ignorant

take a deep breathe bruh.....if you offended by this thread....maybe its something you might need to get check...

if you have savings and investments....then what the fukk are you upset about.

if anything you should be more understanding that in our community the shit is more the exception and not the rule.

and if you are defiant like the title says then its obvious you dont have what your saying someone is ignorant about.

you might have jumped the gun with this one....reread the OP when you having a better day.

 

[JokerzWyld]

I don't consider the issue to be one of defiance but fear. Finance is not an easy subject to learn and apply, and possessing that knowledge will not necessarily garner favorable results. There are multiple answers:

1.) people aren't taught about savings, markets, etc. in school, so they wouldn't necessarily understand the value of using these devices to increase their assets;

2.) Even those who study the markets know that there are often too many moving parts to guarantee the market forces will work for you (e.g. How the price of tea in China can fuck up the cost of oil and annihilate your portfolio); and

3.) people often speak about money as if it's the solution to all of your personal problems when it's not. Many circumstances that occur in life can affect investment behavior or availability of individual capital. Reports have been released in the press about how X% of people are living check to check in higher income areas. Those people may not have access to capital to better their circumstances.

Anecdotally, I knew one guy who retired twice, dabbled in the market, and had a TSP with >$200,000, but died before he could spend any of it. He planned to travel the world, and take classes on a variety of interests, and do things for his grand kids. Not anymore. His children pissed it all away soon thereafter. What was it all for. Personal finance is important but not to the exclusion of all other life factors.

I say none of this to discourage people, just be mindful of the myriad factors also at play.

 

[Ol Jay's]

you have no clue what niggas got saved, how do you even come to the assumption black people don't save

I'm telling you niggas out with money, saving and investing, don't be ignorant

take a deep breathe bruh.....if you offended by this thread....maybe its something you might need to get check...

if you have savings and investments....then what the fukk are you upset about.

if anything you should be more understanding that in our community the shit is more the exception and not the rule.

and if you are defiant like the title says then its obvious you dont have what your saying someone is ignorant about.

you might have jumped the gun with this one....reread the OP when you having a better day.

no, op and thread is about you and you hanging around bum niggas and then you projecting your feelings onto a group of people

You're no better than a white person that knows a black person on welfare and assumes every black person is on welfare

 

[EmM HoLLa.]

I don't consider the issue to be one of defiance but fear. Finance is not an easy subject to learn and apply, and possessing that knowledge will not necessarily garner favorable results. There are multiple answers:

1.) people aren't taught about savings, markets, etc. in school, so they wouldn't necessarily understand the value of using these devices to increase their assets;

2.) Even those who study the markets know that there are often too many moving parts to guarantee the market forces will work for you (e.g. How the price of tea in China can fuck up the cost of oil and annihilate your portfolio); and

3.) people often speak about money as if it's the solution to all of your personal problems when it's not. Many circumstances that occur in life can affect investment behavior or availability of individual capital. Reports have been released in the press about how X% of people are living check to check in higher income areas. Those people may not have access to capital to better their circumstances.

Anecdotally, I knew one guy who retired twice, dabbled in the market, and had a TSP with >$200,000, but died before he could spend any of it. He planned to travel the world, and take classes on a variety of interests, and do things for his grand kids. Not anymore. His children pissed it all away soon thereafter. What was it all for. Personal finance is important but not to the exclusion of all other life factors.

I say none of this to discourage people, just be mindful of the myriad factors also at play.

Quoted for Emphasis..

Well articulated.. This is what I was trying to say in my earlier post..