So follow my logic here, as it’s rather complicated. If I eat the food in the fridge, there will be no more food in the fridge.
Anyway been poor has nothing to do with me spending money and everything to do with me not getting enough money. Rich people spend much more money than I do and yet they’re fine, so clearly the spending of the money isn’t actually the problem.
I know quite a couple of people making about 150k+/year and they live paycheck to paycheck. They spend money like it’s nothing and can’t save any money. This one person had to move back in with their parents after they lost their job after 10 years. They were making at least 150k/year for ten years and had no savings. They didn’t even have any debt. They just spent every dollar they made. There are a lot of people like that and I would imagine the tweet is referring to those personality types. Like I know this one guy that took an Uber just to go 2 blocks.
As an Uber driver I can confirm some people seem lazy.
But I just assume they’ve got a disability I can’t see. Sometimes every step is like being on fire.
My old man was like this. It always felt awkward though because he made more money than a lot of my classmate’s parents combined but it didn’t show because he spent it so quickly. We rationalize it a lot by thinking about how he grew up in extreme poverty. That said, he stroked out when I was a teenager and there was nothing to fall back on afterwards.
In case you weren’t aware of JPMorgan Chase’s history and their involvement in making World History.
JPMorgan out of all banks posting that, Jesus
Their response:
“Our #MondayMotivation is to get better at #MondayMotivation tweets. Thanks for the feedback Twitter world.”
So… they’re essentially just saying that they promise to make better tweets to remedy the situation.
#doingtheirpart
They’re saying that they feel bad that they didn’t pull off the “cool, hip young attitude” that their test markets, data-points, cited studies and weeks of brainstorming sessions predicted, so now they’re going to shift around leadership in the marketing teams and try to approach their social media presence from a different angle, one that appears respectful of modern social issues but also not afraid to throw out some media-safe zingers from time to time! Additionally, a newer model of AI to help reply to questions will surely connect with the people who are all so amazed by AI technology.
That sense you get reading this, that overwhelming desire to find something tall to hurl yourself off of… that’s the reason we haven’t done anything about climate change. We are answering the call of the void because we know deep inside there’s no hope.
2019, back in #avocadotoast days. When apparently we wasted our money on extravagances like “not the cheapest fruit/vegetables”. Which wasn’t even the case. We literally didn’t even do that, we 100% had to eat the cheapest fruit/vegetable, if we were lucky enough that any fruit or vegetable met our budget. They were so out of touch that even their attempt to find a minor extravangance they thought we could afford to waste money on but shouldn’t, was inaccessible.
When I entered my 40s, I decided to switch from Gala to Honey Crisp apples.
Not because I have more money, but because I realized if I don’t get the apples I want, a part of me goes out and eats two medium dominos pizzas in a single setting as an act of rebellion.
What’s bizarre about the avocado toast thing is avocados were 2-4/$1 or a whole whopping $.79 ea then.
Not that it makes it a better argument, but the meme was that millennials were going out to restaurants for an 11$ latte and 15$ avocado toast instead of staying home for breakfast. The whole point, to them, was that coffee and avocado toast had some of the cheapest ingredients you could ever ask for.
11$ latte and 15$ avocado toast instead of staying home for breakfast
If you are struggling for money then doing that sort of shit regularly does sound dumb
It’s the best way too argue. You take a situation that is very rare, but argues against the problem other people claim exists.
Happens a lot for financial aid for poor people. Just find the person who takes advantage of a social plan and then claim a majority of people does that.
Unfortunately I know quite a few people who are financially struggling and still spend money like that on small things here and there. Adds up.
I severely doubt a lot of the dumbass boomers thought it through well enough to claim that.
How is it the bank’s fault if your balance is low? I don’t get what’s the point of this. Your balance is low because your spending matches or exceeds your income.
i hope you’re trolling.
I’m not. What am I missing here?
They’re covering for systemic political issues by blaming it on the individual, essentially covering for poverty wages and other problems related to income distribution. I don’t know why they do this, either. But that’s why this rubs many people the wrong way.
People don’t get into trouble because of avocado toast but depressed wages, soaring house prices, medical costs, etcetera. What the hell are people supposed to do if the minimum spending to survive is already too much for their meager income?
What the hell are people supposed to do if the minimum spending to survive is already too much for their meager income?
If one can’t cut their spending then they need to increase their income. Making coffee at home instead of getting starbucks, cooking instead of eating out and not taking a cab to travel short distances is all good financial advice.
People know that. They’re broke, not dumb
In this meme they are dumb because they are broke but still eat out and catch a cab 3 blocks. Even when told of their irresponsible spending they make no adjustment.
A strawman
…and it’s the bank’s fault and theres nothing the individual could do differently? I don’t buy that. Complaining about it on the internet is not going to help, that’s for sure. I know several people like this and they’re all notoriously bad with finances. Many of them even earn more than I do but they spend it all on expensive new cars, getting the newest smartphones, TVs and tech, frequent vacations abroad, homes that are way out of their budget, streaming services, clothes, ordering takeout etc.
The problem is the tone of the message. Chase isn’t giving solid financial advice, here. They’re creating a strawman of “bad with money”
just increase your income, dummy! how have we never thought of that‽
we can also solve mass shootings in the US. if one can’t survive shootings, they need to stop getting shot.
…or spend less.
This has nothing to do with mass shootings.
They could ask for a competent banking sector that works in the interests of the whole economy too.
Unthinkable.Sure. And while they wait for that miracle they can also take steps towards personally easing their situation. Broken banking sector is not the sole reason for people’s financial struggles.
The hypocrisy. Plus a bit between the lines about the changing role of the banking sector in the economy over the last 40-50 years.
How has banking changed roles in the economy?
I’m talking more about the UK that i know more about than other countries, i think the USA has some similarities - but all countries do have important differences.
There used to be a lot more regulation - both intra and inter nationally - that limited how much they could do in terms of international and mortgage investment. Since deregulation banks have typically shifted into investing more into the housing market and to some degree overseas (hard to observe the net position though, especially with multinational corps. and banks). Essentially I’d argue this “crowded out” domestic capital intensive industrial sectors. And generally reduced the savings multiplier in favour of more bubbly type investments - or household sector.
The conequence was that the “job” of the banking sector used to be to fund domestic (business) investment and growth - and to try not to debauch the currency too badly - at least in the post war period. They had to manage the balance between bubbles , stable investments and their non-performing loan rate, and maintain reserve requirements and central bank deposits as a buffer against bank runs .
But since 70s/deregulation they just invest more wherever they like - with less constraints in place to protect the whole system. They seem to be able to get bail outs without major consequences for management when they fuck up. (This was probaably the case in the 50s and 60s, but the other rules prevented them from fucking up too disastrously. Even back before the 30s when there was much less specific regulation there was still the “gold standard” to keep them in check to some degree.
Okay, but outside the context, this is good advice.
eat the food that’s already in the fridge
That is such a perfect crystalline out-of-touch rich-person take that it has to be a bait. Right? …Right?
Wait, did Chase actually say that? I thought it was a parody. Holy shit.
I’m reading (well, listening) to a book called “Trust me, I’m Lying” about the modern news cycle, and how lies and intentional outrage at lower levels (blogs and social media) get funneled up to traditional-media, and how that is driven by people like the author.
I wouldn’t be surprised if causing outrage and later deleting the tweet and following up with a half-hearted non-apology was the intent all along.
Really great book, IMO. Same guy (Ryan Holiday) had a book about the conspiracy behind the Hulk Hogan sex tape (“Conspiracy”) that was also real good.
So yes or no?
Yes friend. They totally went down that road.
You can click on a snopes link.
Tap for spoiler
But yes.
I……dont believe it. Theres no way, right?
Check my comment below.
So across all consumers and small businesses, Chase has 86 million customers. If the CEO distributed all his pay, everyone gets $0.14. That’s not going to solve anyone being poor, and not going to help you if you have shitty spending habits.
For all the shitty things banks do, knocking them for actually advocating someone good for once seems counter-productive.
It’s not about giving away money. It’s about an entity that grossly mishandled money on a large scale having the audacity to give advice to others on handling money.
Worse, they’re giving micromanagement level advice regarding the money involved with a cup of coffee.
I assume you read about 15% of the response before deciding to push your glasses up on your nose and “Um, akshually”.
It was about more than just CEO pay.
Add in the $12 billion, and everyone now gets $140. Still not going to help them.
Go after the banks for some actual shitty things they do. A money lender telling people to spend responsibly is the opposite of the things we should be going after them for.
Still not going to help them.
I can’t speak for anyone else here, but I wouldn’t say no to $140 from Chase if they were my bank. That’s grocery money.
Bank error in your favor
You know what we can do for 12 billions? A lot of useful things instead of bailing mega-rich banks that gamble money because they know they’ll get a bailout anyway.
Congrats, you got 30% more this time! Go a little further now.
worst bank ive ever had the displeasure of using, they’d take a $12 “service fee” out of my account that I was using for savings for not having direct deposit set up for it, while I was struggling financially. way to kick someone while they’re down.
corporate twitter accounts suck ass
billionaires tell common people to not have coffee
It said make coffee at home. Can make some small but not insignificant savings that way.
Look if we can’t even buy a coffee then what is honestly the fucking point? I don’t personally drink coffee but the point still stands that it’s not a wholly unreasonable thing to be asking for yet we’re constantly told that it’s a moral failing to spend our money. Fuck even when we stop buying stuff they whine that no one is consuming anymore. I just want to contribute to the local economy for fuck’s sake!
Face it, we’re all severely underpaid and it’s not our job to save every single dollar we possibly can just so they can pay us so little that there’s basically nothing leftover anyway. Being frugal to get something normally outside of our means should be a choice we get to make and a daily coffee should not be considered outside anyone’s means.
It says make coffee at home to save money. You can still buy coffee to-go if you want to but you’ll probably have to save that money from somewhere else. Yeah, being poor sucks, who knew.
It does suck, and it doesn’t need to be that way. Living with a knife lodged in your arm also sucks but a doctor wouldn’t say “yea of course it hurts, it’s a knife!”; they’d actually try and fuckin’ help.
The issue is that when you make something as simple as a daily coffee a moral issue then you can open up very small amounts to mockery. They’re not trying to help, they’re trying to make it so it’s not their fault that all you can afford is over-inflated rent and rising food prices. They want any savings to go to them, not to us.
—
Forty years old working an office job you were educated for? Get a roommate because we think wanting to afford your own place at that age is entitled!
Working a physical job? We’re all gunna make you sound stupid so that even though you provide a great value and we demand a high level of quality of work we also won’t have to pay you as much. Maybe you should be roommates with the last person!
Want a cheap coffee to start your day? Booooo, that $60-75 a month could go into my pocket instead!
I’m sorry you said you wanted a hobby?! Hahaha it better be extraordinarly cheap!
Oh you bought a cheap thing and it broke? You should have somehow bought a more expensive thing that would last longer and cost less in the long run!
Oh you bought something that would last longer and cost less in the long run? Wow look at luxury pants over here, you should be saving that money!
You paid full price for that? Why don’t you be more like me and magically have enough disposable income to take advantage of sales even when you know you won’t need the thing for months.
—
It’s all just bullshit to fuck you over and make people fight eachother. They give us raises worth less than even just the inflation of the previous year and then when we speak out they turn it into a moral issue. Somehow it’s always our fault even though they’re the ones overpaying themselves while underpaying everyone else.
