Comments on: 4 Things Generation Y Needs to Know About Money

By: Brian

Brian — Sun, 29 Apr 2012 21:41:46 +0000

I agree with Dalamar, I take full advantage of credit card rewards programs to get cash back on purchases I would be making with cash/debit anyways. I can’t wait till the fed gets interest rates back up so credit cards will start offering the insane cash back programs they had in the mid-late 2000′s. Just make sure you’re not applying for a lot of cards, and pay your balance every month. You can also occasionally use the “interest free for 12 months” as a free loan for a big purchase and pay it back in monthly installments.

By: alex

alex — Tue, 24 Apr 2012 15:43:40 +0000

Unless of course you live in New York, Steve. If I had the downpayment for a house I would have gotten out of the renting game years ago for ownership.

By: Dalamar Evans

Dalamar Evans — Fri, 20 Apr 2012 05:08:31 +0000

Credit is not to be feared. Credit is a tool. People who abuse credit and amount massive debt are the ones that are going suffer. Credit can be used to borrow money for investment purposes. Many credit cards offer rewards that you can use to make money just for spending it – as long as you pay off the balance every month. Use credit responsibly is can enhance your life.

By: Marzell Hall

Marzell Hall — Thu, 19 Apr 2012 06:44:51 +0000

This is a great post, schools are designed to teach you to be an employee. It’s fair to say because teachers are employees themselves, they can only teach you what they know. Everyone has been programmed to be an employee, if you want to be successful, then consider becoming an entrepreneur.

As for home ownership – as long as you’re paying a mortgage, it is a liability not an asset. Paying a mortgage isn’t putting money in your pocket.

By: Jay

Jay — Thu, 19 Apr 2012 06:17:58 +0000

That’s great… one thing is missed.. that is virtual currency that is time…

i think, geneartion Y spends more time in digital world with the advent of faster content delivery apps like youtube/facebook/greatiful …. Genearation Y sticks to first PC then Mobile and now, hopefully : Tablets

Time seems to be next biggest currency…

By: steve siverling

steve siverling — Thu, 19 Apr 2012 06:06:01 +0000

Greetings,

I disagree that a home is an asset. I view it as an expense. Having a house is more expensive then renting.

Another thing is if I take out a mortgage then I owe money. The bank is making money off that. Whereas if one pays cash for a house then the bank doesn’t make money of the money unless you have it in the bank.

I do feel that owning a house is a good thing but only if you can support that. I believe there are some people who shouldn’t own a house. For instance, if you don’t make enough income to pay for it.

sincerely,

steve

By: Rhiannon

Rhiannon — Wed, 18 Apr 2012 21:22:43 +0000

This article is dead wrong about home ownership. A home is definitely an investment insofar as the payments at least have a chance of being illiquid recoverable assets! Rent payments are 100% liability! I am 27 and have owned a home for the last 3 years. In that time, I would have paid $29,700 in rent. Instead, I have made $25,200 in mortgage payments. That is already a $4,500 return! You can get down into the weeds of property taxes, mortgage interest deductions, capital gains, maintenance and repairs, etc.; but what you will find after all of that is that MOST of the time, rent payments are much higher than mortgage payments and that selling a property for marginally less than you paid for it will still put you ahead of the game. As long as there are barriers to home ownership that force people into renting, landlords will take advantage by charging higher prices.

By: Nathan

Nathan — Tue, 17 Apr 2012 15:46:50 +0000

Schools is merely a correlation to a higher paying and more enjoyable career. It is not the causation that many attribute it to be.

“Learn to learn” in college, stay resilient, and do what you love!

p.s. most of what is learned in classrooms can be done in a library or online for free.

By: Fax Authority

Fax Authority — Tue, 17 Apr 2012 01:53:13 +0000

Good list!

one more – cash flow is king.

stocks and business opportunities that go up 1000% will always make the headlines, but in the long run having investments that generate strong steady cash flow are the best types of have.

By: Nick

Nick — Mon, 16 Apr 2012 18:55:27 +0000

Be afraid of governments, very afraid.

Just like Bernie Maddoff and for the same reasons they are running huge debts hidden off the books.

That means two main things.

1. You won’t get what they have promised you.
2. If you do have assets they will take them from you to keep the Ponzi going.