I have always said that before you go to college you should have to be in the workforce for 2 years. After 2 years you would have a lot more direction in which way you want to go. I know that most 18 year old kids don't know what they want to do for the rest of their life. But I agree that there is going to be a huge demand in skilled trades. Gary
Skilled trades can make a lot of money and with very little school debt if any. My welding school cost $6 a day. 5 months of it 4 days a week was all and I was working making full wage as an 18 year old.
You have to admit it's probably one of the more physically demanding trades - unless you can progress into supervision. I've subbed enough welders to know there's a reason I stopped telling people I knew how to weld - not opposed to getting dirty, just a dirty hole basked in flux vapors My GF's son in-law roadwhore's as a welder -great money, gone a good part of the year, draw UE when work slows then back across the country. It's a never ending cycle of chasing money - can you see yourself climbing in a boiler drum(if you've ever welded tubesheets) when you're 50?
Yep, there's a good job. And then get a boiler cert, or pipeline, etc, good living wage for sure. Tried like heck to get my nephews into welding or machine shop at the local vocational high school, one took electronics the first year, then switched to carpentry...worked for a builder for 6 months, been in a factory ever since. At least he's working, seems like he's making money...been spending a bunch on trucks and bikes...you know, the usual stuff. Wish I hadn't done that, I would have owned a home by 25 YO, before the prices went WAY up. The other nephew took truck mechanics at VHS, been working for a local shop part time for a year or two now, he just graduated and they took him on full time.
we just subbed a new HVAC contractor at the plant, one of their brand new techs is a young female(fresh out of trade school) - she's a go getter but wears size 3.5kids shoes and can't find safety toe boots I gave her a few career tips and tricks, she's sharp but may physically lack the ability to lift compressors and such. Just thought it was neat to see a young black female make an HVAC career a go - not all millenials are a wasted cause
I told her I'm buying some of those over boot clogs to make her wear until she finds some. we called them the idiot shoes in a warehouse job I worked in college - you're such an idiot you couldn't remember to put your boots on sound like a horse everywhere you walk
Making too much money when you're not quite ready to handle it can be a problem. What 18 year old is ready for a basically part time job and making $60-80k a year.
I stay gone all the time. I do a lot of specialty work with orbital/automated systems on steam lines and stuff like that. No smoke and grinding usually. I'll be doing it til retirement age. Hopefully if I can get enough pension credits I can get out at 58.
Agreed entirely! Me and my brother both went to 1 year tech school, both got out of it with 0 school loans, mom and dad gave us each $1000 to start us out, everything was paid for from working when we were in high school, I graduated 09 from tech and he did in 13 I believe, I went for welding, worked the last 4 months because rent for an apartment gas for the truck books tools food and most importantly, beer got the better of my savings account. I still weld full time and then some today, and any plans of leaving the welding field are just going to be still in the relative area, I took the first opportunity I got to learn to run a laser and recently 2 guys were fired/quit, not ready to hang up my hood but talked to the boss man today about hopping back and forth to keep it interesting. My little brother went to be a lineman working on power lines and he loves it. My fiance's cousin however has switched her degree without finishing a single one half dozen times only to end up settling to cut hair, if your not sure, for goodness sakes WAIT. Take a couple core classes that most degrees require, work a couple different part time jobs and see if anything sticks. I pretty much knew I wanted to weld after helping my dad make a small utility trailer when I was young, something about it made me tick. Anyways if you love what you do that's all that really matters, and you've already succeeded. Making the cash only makes it easier that is if you can manage it!
Backwoods Savage it definitely is a good book, I found it entertaining. It's meant to be suggestive only. It opened my eyes. There are things I'm not willing to give up, I'm not a minimalist, I just want to live within my means and not always be striving for something new........Anyway the book is about 7 or 8 bucks.
Bert, I am going to give the book a read. I the spirit of the thread, I am going to borrow it from the library and not spend the $7-$8. LOL. Seriously, sounds like a interesting read.
You're not the odd one out , my take is very similar to yours . I love my job too it's what I went to school for , and I told my retirement planner that I want to work as long as I can , at some point it won't be full time I don't want to be outside in the cold azz winters . Don't know if we'll ever be debt free , but will be close , house , cars , student loans will all be paid off in the next 3 years , don't think that any of our debt is frivolous and we manage it very well with a credit rating around 800 . We pay our selves 1st too as someone had suggested here earlier 20% of her pay goes to a credit union saving acct. , before she sees it so we have a nice rainy day fund . As someone else said it's knowing how to live within your means . Debt is not a Bad Thing , as long as it's not excessive IMO .
That's the statement that has most of the population in financial purgatory. What is excessive? As long as they can make their payments? I agree that major purchases can indeed be managed with loans but so many think that they are "managing" paycheck to paycheck. Everybody has a car payment right? There are so many that don't know that you can buy a car without a car payment/loan. And it's not just shiny new cars, I know of folks taking very long term (60+ months) loans on vehicles that cost less than what they make in two months! We see everybody using credit cards to make purchases but what we don't see is everybody's statements. And we do in fact get pushed to finance everything because you need that new car, used cars are a symbol of hard times ya know. You have to have expensive cable and satellite TV too so they can bombard you with even more advertisements pushing you to buy more on credit. You won't get a good job without a college degree either and now they even push for advanced degrees. A Bachelors used to be an achievement, now it's the minimum standard. And while it doesn't have to, so many have already pointed out that it can come with crippling debt load and no guarantee whatsoever of superior earnings. Imagine what kind of investment stream or retirement income you could setup with the amount spent on secondary education before you turn 30? I agree, but if Bobby jumped off a financial bridge, does that mean we all should? We are all firmly in the drivers seat of our lives. If we're asleep at the wheel, then that's nobody's fault other than our own. I am encouraged by the thought of increased financial awareness (at least the basics!) amongst the general population and what it could lead to for our country, and even the world. The very same principles applied to not letting the credit institutions take advantage of us could strengthen the nation from top to bottom. Or perhaps vice versa... The answer is not always spending more money to solve the problem, just as the cheapest solution is rarely the best one long-term. You don't have to think about it very long to see the institutions that use the lowest bidders for every job cost the most money to operate and continually ask for a bigger budget.
You are correct my friend , I guess that statement was more about my own situation . Don't live pay to pay and always pay way more than the minimum on a credit card Here's a pic from this morning at the office that I know you'll appreciate
Nope Wow, guess I've been in hard times all of my life (I had no idea either)...I have only ever bought 1 "vehicle" type purchase that was new...and it was a lawn mower...and I regretted it after I did it. None here...we get over 40 channels off the antenny fur free, good enough! You made lots of good points there MM!
My first accountant that helped me get started in business told me. "never buy items on credit depreciate in value". It is ok to use credit to buy things that appreciate in value as long as you can see that it makes economic sense, or to help you earn a living." So, to me if you're a plumber and you need a vehicle to get from job to job with your tools, borrowing some money to get that going makes sense to me. Now, you don't need the $50k Sprinter van a good used box van for $15- $20k would work. yes the truck depreciates in value but you need it to make a living efficiently. I have a friend that has used this system for purchasing a personal vehicle. He Borrowed money to purchase his first $5k vehicle. Paid $240/month for the vehicle. After vehicle was paid for and he kept driving it, he kept putting $240/month in the account to purchase the next vehicle. Maintenance on the vehicle never came out of that account. After 5 vehicles and about 15 years he was able and now pays cash for the vehicle he purchases but still makes the $240 per month payment. Like he says the vehicle is an expense not an asset. He never buys new. 2-3 year old vehicles with 50 to 85K miles. he drives them till they drop. Things to consider. I am not anti-debt but it is like using fire. One needs to be careful.
Brother has used that method for a long time as an HVAC contractor, but he rarely pays that much for his, and doesn't do a whole lot but change the oil.....sometimes.
