Can you really help people who can not manage MONEY?

Would you believe a cheap arse kettle may have shortcircuited my electricity at one of my short term rentals? Got an airtasker out and the guy ("30 years of being an electrician") said it might have leaked.

I said to the guest they are welcome to buy a replacement kettle and i'll reimburse.

 

Yes I would... faulty appliances tripping cct breakers is not uncommon.

 

This happened 3 times in my holiday rental from toasters and kettles. They were cheap made in China products. My policy last few years has been to never buy any electrical products made in China, European made products cost more but are much safer and more reliable, in my experience. I have even had Chinese made power boards start sparking and smoking, no more, all my powerboards now come from Tubingen, Germany.

 

We will have to discuss the most frugal ways to purchase our diamonds. Alaska was selling them much cheaper than in Australia, when we were there in 2009.

 

LOL, much better way is to source the diamond is direct from gem dealer, but you need to ensure you have a GIA cert and you also need to understand what the dimensions of the cut mean, cut is most important factor and is what marks the diamond sparkle.

Just another forum on diamonds, its good but don't buy anything unless you view it.

Diamond Jewelry Forum - Compare Diamond Prices, Discussions & Diamond Information
MTR

 

I've given up trying to help people who are not in very good financial shape.

But of course; like most here - you can't help yourself and want to help everyone....

I know a 25 year old guy who earns little, has a partner and they have 3 kids, renting and saving for a house deposit.

He smokes an alarming number of cigs per day (his partner doesn't smoke) and he buys take-away lunch and smoko most days for work.

I mentioned some months ago in passing that he would be better to try and cut down the cigs, and take home-made lunches to cut down outgoings and save more....

I was informed the other day that his partner tore strips off him for his $200 per week ciggy and take-away expenditure. WTF?

Obviously hasn't listened to a word.

 

True.
You can give advice but at the end of the day they need to want to make the changes.

Family members scenario turned out OK at the end because of a couple of factors, they sold their primary residence and were able to scale down, debts gone. They also recently inherited money and this also helped with a significant buffer. Will they stop spending, probably not, but they wont be too far off getting an old age pension so they wont have a choice but to live off this income. Not ideal, but we are all master of our own destiny.

MTR

 

Oh well, maybe he'll end up working 12 hours a day in an Indonesian shoe factory, enjoying as many bungers as he wants, but it might not be conducive to happiness for his and his family's futures...

 

Only couple of hundred bucks, it seems to be more of a mental battle than issue of funds, u gotta be comfortable in your judgement so u don't end up agonising over minor and ultimately inconsequential decisions IMO, be it 200,2000 or 2m, it's just another zero or 2 and in case of something of this value it really doesn't matter even if u don't make the sensible decision, if you do make the sensible decisioh most times.

Lots of the people who would tut tut or might be extremely disciplined eg like potentially someone like your mum, will often not have all that much wealth after a lifetime of making only conservatively spending choices, IMO being frugal is good, being only frugal at the expense of letting money work for u isnt

 

Got a friend whose family are large wholesalers in Asia, he saw a bit of jewellery in Perth for sale for $550k, I believe a ring. He said the stone would have been available wholesale around 110k with the balance the materials and workmanship for ring and ahefty profit.

Outrageous

A relative got his now wife's ring and other items from him, ended up getting valued for insurance purposes at around double or more for all, I think 22k ring was 46k value or something ridiculous.

Crazy margins

 

I realised some time ago that I have no right to comment on anyone's financial situation other than my own.... unless asked to comment or discuss.

Most people are also intensely guarded about their personal finances. Either because they're embarrassed, ignorant or in rarer instances, quietly & privately well to do.

The only people you can help are those wanting help.... & they'll raise the topic themselves.