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    Remedios VaroHamilton Nolan
    8/02/13 1:07pm

    "The youth of America are plagued by shocking financial illiteracy."

    Exhibit A: My coworker, who is 20, has about $50K in student loans from a film school he dropped out of after two years, and drives a Prius that he bought himself. Who buys a car when they owe that much in student loans? We both work part-time at a TV station, and we don't really get paid that well. Supposedly he has other jobs, but Jesus H. Christ. He told me yesterday he pays about $1200 in various bills each month, and I don't think his parents help him that much. I do not want to be him.

    If you're wondering why I know this much about his finances, he's an oversharer, especially when it comes to money.

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      cheerful_exgirlfriendRemedios Varo
      8/02/13 1:18pm

      So many people buy new cars because they only look at the monthly payment not the overall price of the car (especially not including the interest), not the fees, not the insurance, just the monthly payment. I find many of these people also end up trading in their car every 5 years, which is a crazy waste of money.

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      JohninLARemedios Varo
      8/02/13 1:41pm

      If he lives in a city where a car is necessary to get around, let alone to/from work, it makes perfect sense. And at least he's saving gas money on the Prius.

      Then again, if he's $50k in debt for something he didn't even bother to reap the benefit from, I'm sure you're right in that his financial management competence is dubious.

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    cheerful_exgirlfriendHamilton Nolan
    8/02/13 1:03pm
    GIF
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      GingerKeepercheerful_exgirlfriend
      8/02/13 2:07pm

      I quote this line frequently. It's even better when people have no idea what I'm referring to.

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      cheerful_exgirlfriendGingerKeeper
      8/02/13 2:10pm

      I do too.

      Sometimes I say ".22 cents/LB?? What a bargain, they are usually 10 bucks a pop" as I buy bananas. I like to make mundane activities fun, you should see me in a long line at the Post Office.

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    TokidokiHamilton Nolan
    8/02/13 12:57pm

    Ham, do you realize this system allows you to get paid ~$85k a year for opining on topics you know nothing about?

    You can't practice law but you are paid to write about it.

    You clearly have no concept of the time-value of $ yet you write passionately (and incorrectly) about micro and macro economics.

    Think of what you could be making if you had actual skills!

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      Hamilton NolanTokidoki
      8/02/13 2:27pm

      It is an amazing system, agreed.

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      TokidokiHamilton Nolan
      8/02/13 2:35pm

      Haha indeed (btw, I like that you always respond to my comments, that's nice/cool).

      But be mindful because every econ article you write is just another bite to the hand that feeds...

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    metalupyourassHamilton Nolan
    8/02/13 1:01pm

    I don't know why sex and money are such dirty words in america - more you know about that shit more you be good with it

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      cheerful_exgirlfriendmetalupyourass
      8/02/13 1:14pm

      For sure, not knowing about those two subjects can be very costly.

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      KumquatRodeocheerful_exgirlfriend
      8/02/13 1:39pm

      What's that old investment adage? Something along the lines of: "I spent most of my money on wine, women, and song. The rest I wasted."

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    stacyinbeanHamilton Nolan
    8/02/13 12:56pm
    GIF
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      BevKstacyinbean
      8/02/13 3:44pm

      Who is that adorable person?

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      stacyinbeanBevK
      8/02/13 4:30pm

      Aww, that's the super cute and talented Alia Shawkat, aka Maeby Funke from Arrested Development.

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    sportzzzgirlHamilton Nolan
    8/02/13 12:58pm

    Don't EVER apologise to the Wall Street Journal. Never. Ever.

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      wkiernansportzzzgirl
      8/02/13 7:35pm

      Apologize to the Wall Street Journal, then, when their guard is down, round-house punch them in the side of the head.

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      Scalfinsportzzzgirl
      8/02/13 10:42pm

      They're actually pretty good if you ignore the editorial section (which the rest of the paper has been caught calling a bunch of Nazis).

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    Johnny ChundersHamilton Nolan
    8/02/13 1:04pm

    Tell your kid that you will give them $10 if they mow the lawn, then tell them Oh sorry! the immigrant neighbor kid already did it for $4. Instead of paying the neighbor kid, have him/her deported.

    Spend the $10 on some new kind of chicken sandwich you saw on the TV.

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      OurGIIIHamilton Nolan
      8/02/13 12:58pm

      Discretionary Spending: Give your kid $10. Tell them you happen to have some great weed for $10.

      "Here's my $10."

      "Always get the bag first," you say, pocketing their $10.

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        aismoHamilton Nolan
        8/02/13 1:32pm

        I started working when I was like 14-15 and my parents made me save 65% of every single paycheck I got. It sucked and I hated them for it at the time. I realize now thats a pretty good way to teach your kids about money.

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          NukeDudeHamilton Nolan
          8/02/13 1:28pm

          Have them watch Money As Debt.

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