Comments on: The Money Diaries: The 20-something who can’t seem to get out of his parents’ house http://www.iwillteachyoutoberich.com/blog/the-money-diaries-the-20-something-who-cant-seem-to-get-out-of-his-parents-house/ Personal finance blog for college students, recent graduates and everyone else -- including entrepreneurship -- for getting rich. Featured in the Wall Street Journal and New York Times. Mon, 15 Mar 2010 13:53:17 -0700 http://wordpress.org/?v=abc hourly 1 By: Thomas Le Ngo http://www.iwillteachyoutoberich.com/blog/the-money-diaries-the-20-something-who-cant-seem-to-get-out-of-his-parents-house/comment-page-2/#comment-103428 Thomas Le Ngo Wed, 15 Jul 2009 21:23:56 +0000 http://www.iwillteachyoutoberich.com/?p=2893#comment-103428 This was so depressing to read. I'm also with #40. This was so depressing to read. I’m also with #40.

]]> By: JimE http://www.iwillteachyoutoberich.com/blog/the-money-diaries-the-20-something-who-cant-seem-to-get-out-of-his-parents-house/comment-page-2/#comment-102553 JimE Thu, 02 Jul 2009 18:57:49 +0000 http://www.iwillteachyoutoberich.com/?p=2893#comment-102553 AtHomeWithTheParents- Glad to hear a fuller picture of life that seems stable and healthy. I'd say your doing fine. A few things to consider: 1) Since you can't find what your looking for have you ever considered going whole hog and merging finances with your parents? Seems to me that if you have a good living arrangement with them and can handle the idea of supporting them when older so just fess up to the idea and plan for it now. (check with the GF obviously but seriously the idea of each generation in their own house is a relatively new concept historically) 2) How much family do you have nearby? If they are all spread out why not consider moving to a better climate so winters don't bother you, 3) 1k/mo is reasonable for a luxury apartment in the midwest (1-2 beds). Not sure which burbs your in but in SF rents are about $2-3/sft per mo and buying is a ridiculous $250+/sft whereas the midwest is again much closer to $100-125/sft. On 53k/yr there's likely something affordable for you in that context. Just might want to keep that in mind when you consider what your looking for Cheers! AtHomeWithTheParents-
Glad to hear a fuller picture of life that seems stable and healthy. I’d say your doing fine. A few things to consider:
1) Since you can’t find what your looking for have you ever considered going whole hog and merging finances with your parents? Seems to me that if you have a good living arrangement with them and can handle the idea of supporting them when older so just fess up to the idea and plan for it now. (check with the GF obviously but seriously the idea of each generation in their own house is a relatively new concept historically)
2) How much family do you have nearby? If they are all spread out why not consider moving to a better climate so winters don’t bother you,
3) 1k/mo is reasonable for a luxury apartment in the midwest (1-2 beds). Not sure which burbs your in but in SF rents are about $2-3/sft per mo and buying is a ridiculous $250+/sft whereas the midwest is again much closer to $100-125/sft. On 53k/yr there’s likely something affordable for you in that context. Just might want to keep that in mind when you consider what your looking for
Cheers!

]]> By: xmasy http://www.iwillteachyoutoberich.com/blog/the-money-diaries-the-20-something-who-cant-seem-to-get-out-of-his-parents-house/comment-page-2/#comment-102440 xmasy Wed, 01 Jul 2009 21:11:53 +0000 http://www.iwillteachyoutoberich.com/?p=2893#comment-102440 Lauren, I actually disagree with Ramit on this. I think we should fret even the small stuff. But not to the point where u become obsessed. Lauren,

I actually disagree with Ramit on this. I think we should fret even the small stuff. But not to the point where u become obsessed.

]]> By: xmasy http://www.iwillteachyoutoberich.com/blog/the-money-diaries-the-20-something-who-cant-seem-to-get-out-of-his-parents-house/comment-page-1/#comment-102439 xmasy Wed, 01 Jul 2009 21:06:45 +0000 http://www.iwillteachyoutoberich.com/?p=2893#comment-102439 DO NOT PURCHASE A HOUSE!! DO NOT. Rent is cheaper than owning a home. Purchasing a home is only good for people who dont know how to save money. It's a forced savings. Who said you cant be a renter for life? It is NOT throwing away money. Dont let morons tell u that. DO NOT PURCHASE A HOUSE!! DO NOT.

Rent is cheaper than owning a home. Purchasing a home is only good for people who dont know how to save money. It’s a forced savings.

Who said you cant be a renter for life? It is NOT throwing away money. Dont let morons tell u that.

]]> By: AtHomeWithTheParents http://www.iwillteachyoutoberich.com/blog/the-money-diaries-the-20-something-who-cant-seem-to-get-out-of-his-parents-house/comment-page-1/#comment-102220 AtHomeWithTheParents Sat, 27 Jun 2009 23:16:09 +0000 http://www.iwillteachyoutoberich.com/?p=2893#comment-102220 Crystal: Yeah, I suppose more info on me would've been helpful. My gf and I have looked into rental houses. A lot is up in the air right now, though and I'm almost never home anyway. My life isn't nearly as abysmal as this snapshot of me depressed before Christmas makes it out to be. I am now a bit more free with my spending on things I care about (going out with my girlfriend and some of my outdoor hobbies.) but winter is usually a really rough spot for me due to living in one of the coldest parts of the continental 48. MillionaireAdventure: I'm not really obsessed with owning a home, it's just that rental properties in this part of the country really stink and if you want something decent you have to pay out your @$$hole. I'm sorry but if I'm going to pay $1K a month for a decent 2-3 br house/apartment, I may as well just buy. I know what I want, I just have to work hard to get it. And I forgot to mention all of my bills go to my credit card and then I pay it off in one month. That way I earn rewards points. Right now I'm saving my points for something else but I haven't decided what. I am thinking maybe a vacation. Crystal: Yeah, I suppose more info on me would’ve been helpful.

My gf and I have looked into rental houses. A lot is up in the air right now, though and I’m almost never home anyway. My life isn’t nearly as abysmal as this snapshot of me depressed before Christmas makes it out to be. I am now a bit more free with my spending on things I care about (going out with my girlfriend and some of my outdoor hobbies.) but winter is usually a really rough spot for me due to living in one of the coldest parts of the continental 48.

MillionaireAdventure: I’m not really obsessed with owning a home, it’s just that rental properties in this part of the country really stink and if you want something decent you have to pay out your @$$hole. I’m sorry but if I’m going to pay $1K a month for a decent 2-3 br house/apartment, I may as well just buy.

I know what I want, I just have to work hard to get it.

And I forgot to mention all of my bills go to my credit card and then I pay it off in one month. That way I earn rewards points. Right now I’m saving my points for something else but I haven’t decided what. I am thinking maybe a vacation.

]]> By: Crystal http://www.iwillteachyoutoberich.com/blog/the-money-diaries-the-20-something-who-cant-seem-to-get-out-of-his-parents-house/comment-page-1/#comment-102216 Crystal Sat, 27 Jun 2009 21:51:24 +0000 http://www.iwillteachyoutoberich.com/?p=2893#comment-102216 AtHomeWithTheParents: Thanks so much for giving us an update! I'm glad to know that this all took place around Christmas, which makes the references to Christmas gifts much clearer. I was wondering why your family does its Christmas shopping in June! Have you considered looking into rental houses? Perhaps they would be in better condition than the apartments in your area. I'm glad to hear that you enjoy cooking and baking, got the KitchenAid mixer, and don't regret it at all. I love mine, too. ;^) AtHomeWithTheParents: Thanks so much for giving us an update!

I’m glad to know that this all took place around Christmas, which makes the references to Christmas gifts much clearer. I was wondering why your family does its Christmas shopping in June!

Have you considered looking into rental houses? Perhaps they would be in better condition than the apartments in your area.

I’m glad to hear that you enjoy cooking and baking, got the KitchenAid mixer, and don’t regret it at all. I love mine, too. ;^)

]]> By: MillionaireAdventure http://www.iwillteachyoutoberich.com/blog/the-money-diaries-the-20-something-who-cant-seem-to-get-out-of-his-parents-house/comment-page-1/#comment-102195 MillionaireAdventure Sat, 27 Jun 2009 11:52:30 +0000 http://www.iwillteachyoutoberich.com/?p=2893#comment-102195 Why is he obsessed with buying a home? What's wrong with renting first? I really wish this generation would realise that renting is not all bad, especially if you are young and have not yet settled down. Why is he obsessed with buying a home? What’s wrong with renting first?

I really wish this generation would realise that renting is not all bad, especially if you are young and have not yet settled down.

]]> By: Robin http://www.iwillteachyoutoberich.com/blog/the-money-diaries-the-20-something-who-cant-seem-to-get-out-of-his-parents-house/comment-page-1/#comment-102162 Robin Sat, 27 Jun 2009 00:00:52 +0000 http://www.iwillteachyoutoberich.com/?p=2893#comment-102162 I totally agree with #13 Courtney that in general, some prior information would be helpful to set the tone on overall spending. For instance, if I were doing this on the 10th of the month, I would be spending a lot because thats the day I pay my bills. Even though its a snapshot of a spending life, without more information it seems too incomplete to be useful. I totally agree with #13 Courtney that in general, some prior information would be helpful to set the tone on overall spending. For instance, if I were doing this on the 10th of the month, I would be spending a lot because thats the day I pay my bills. Even though its a snapshot of a spending life, without more information it seems too incomplete to be useful.

]]> By: AtHomeWithTheParents http://www.iwillteachyoutoberich.com/blog/the-money-diaries-the-20-something-who-cant-seem-to-get-out-of-his-parents-house/comment-page-1/#comment-102154 AtHomeWithTheParents Fri, 26 Jun 2009 20:43:48 +0000 http://www.iwillteachyoutoberich.com/?p=2893#comment-102154 Wow, I totally forgot that I did this. I stopped reading IWTYTBR a long time ago due to my life getting a bit more hectic. Strangely I decided to come back today and this is on the front page! I find it kind of amusing and disconcerting as to how people picture me based on this little snippet I wrote which I was told to be dramatic about the week so this is what i figured they wanted. Oh well, here's a snapshot of my life now. 1.) Making $53K before OT and Bonuses 2.) Contributing $200 cash to my parents per month plus I buy food and other items for the house. I offer more all the time. They refuse to take it. I also take care of the cooking three days a week. 3.) Saving $1K minimum per month. This month I put aside $1,500 4.) I've struggled with weight issues my entire life but I'm now perfectly healthy and no, I don't eat fast food all the time. This was around Christmas when life was pretty damn hectic for me. Regardless, I'm at a normal BMI and have some nice muscles 5.) I bought the Kitchenaid Mixer and don't regret it at all. I got it on sale and used gift certificates. I bake quite a bit so it's been quite a help in the kitchen. 6.) I don't charge interest to loan to the family but I never carry a CC balance 7.) No, this wasn't a normal week for me. It was around Christmas and I had some stuff bugging me. 8.) I work next door to a mall. It's a good place to walk for exercise during lunch. I rarely buy anything there. 9.) Since then I've taken a nice vacation (frugally I might add but very fun) 10.) I've looked at apartments since and most seem to smell bad, are horribly overpriced or are just too much in the city for me. I much prefer the 'burbs. 11.) I bring my lunch probably 90% of the time. They are usually healthy as well. 12.) I invest to the max matching of my company's 401K 13.) Several grand in bank accounts (including CDs) Any other questions, feel free to ask. Wow, I totally forgot that I did this. I stopped reading IWTYTBR a long time ago due to my life getting a bit more hectic. Strangely I decided to come back today and this is on the front page!

I find it kind of amusing and disconcerting as to how people picture me based on this little snippet I wrote which I was told to be dramatic about the week so this is what i figured they wanted. Oh well, here’s a snapshot of my life now.

1.) Making $53K before OT and Bonuses
2.) Contributing $200 cash to my parents per month plus I buy food and other items for the house. I offer more all the time. They refuse to take it. I also take care of the cooking three days a week.
3.) Saving $1K minimum per month. This month I put aside $1,500
4.) I’ve struggled with weight issues my entire life but I’m now perfectly healthy and no, I don’t eat fast food all the time. This was around Christmas when life was pretty damn hectic for me. Regardless, I’m at a normal BMI and have some nice muscles
5.) I bought the Kitchenaid Mixer and don’t regret it at all. I got it on sale and used gift certificates. I bake quite a bit so it’s been quite a help in the kitchen.
6.) I don’t charge interest to loan to the family but I never carry a CC balance
7.) No, this wasn’t a normal week for me. It was around Christmas and I had some stuff bugging me.
8.) I work next door to a mall. It’s a good place to walk for exercise during lunch. I rarely buy anything there.
9.) Since then I’ve taken a nice vacation (frugally I might add but very fun)
10.) I’ve looked at apartments since and most seem to smell bad, are horribly overpriced or are just too much in the city for me. I much prefer the ‘burbs.
11.) I bring my lunch probably 90% of the time. They are usually healthy as well.
12.) I invest to the max matching of my company’s 401K
13.) Several grand in bank accounts (including CDs)

Any other questions, feel free to ask.

]]> By: Ben http://www.iwillteachyoutoberich.com/blog/the-money-diaries-the-20-something-who-cant-seem-to-get-out-of-his-parents-house/comment-page-1/#comment-102145 Ben Fri, 26 Jun 2009 17:33:18 +0000 http://www.iwillteachyoutoberich.com/?p=2893#comment-102145 I'm with #40... Celia said it best. I’m with #40… Celia said it best.

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