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Cake day: June 22nd, 2023

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  • For fun, I used this idea in chatgpt using similar logic:

    Hello, can you explain to me how a strict profit generated number would result in a specific goal, such as if I make 1000 dollars I would suddenly be capable of owning a house. I find the idea strange and backwards.

    You’re correct to find this idea odd—it reflects a misunderstanding of how financial goals, like owning a house, relate to income. Here’s why this thinking is flawed:

    1. Profit vs. Net Worth: Making $1,000 in profit doesn’t directly equate to being able to afford a house because buying a house requires not just income but also savings, creditworthiness, and a down payment. Profit is only a small piece of the puzzle.

    2. Costs and Expenses: Owning a house involves more than just the purchase price. You need to consider closing costs, property taxes, maintenance, and potentially ongoing mortgage payments. $1,000 would likely not be enough to cover even a fraction of these.

    3. Leverage and Financing: Most people don’t buy houses outright; they use loans or mortgages. To secure a mortgage, lenders look at your total financial picture: income, savings, debt, and credit score. Simply generating $1,000 won’t improve these factors significantly.

    4. Specificity of the Goal: “Making $1,000” is a general financial milestone, not a specific strategy tailored to the requirements of owning a home. A more actionable goal would involve budgeting, saving for a down payment, and improving credit.

    5. The Backwards Logic: The idea that reaching an arbitrary profit threshold suddenly makes you eligible for something like owning a house conflates short-term gains with long-term financial stability. A better approach is to reverse-engineer the goal: start by determining the total cost of the house, then work backwards to figure out how much you need to save monthly, how much income you need to earn, and what steps are required to secure financing.

    Example of Goal-Oriented Thinking:

    If you wanted to own a $200,000 house:

    You might need a 10% down payment ($20,000).

    Closing costs could add $5,000–$10,000.

    Monthly income would need to support a mortgage payment (let’s say $1,200/month).

    Steps would include saving regularly, reducing debt, and improving credit, rather than focusing on an isolated profit milestone like $1,000.

    Summary:

    Focusing on a single, arbitrary profit number like $1,000 doesn’t align with the comprehensive planning required for significant financial goals like home ownership. Instead, success depends on a holistic view of your finances and structured goal-setting.




  • Harvey656@lemmy.worldtoFuck Cars@lemmy.worldLondon Bridge
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    7 days ago

    Of course, motorists, people going about their day, going to work, picking their kids up from work. How dare they not understand that that killing people is bad!

    But for real, most car related deaths are accidents. It has more to do with infrastructure and education, both of which not directly the fault of motorists. Feel like your blaming the wrong people.



  • I’m Sorry but philosophical perspectives can only be known through interpretation. Ask any two people what a communist is and you WILL get two different answers, obviously there will be many similarities between the two answers but the nuance will be different.

    All that being said…

    If this is something you really want, I’m sure it won’t be too hard to get ahold of the instance admins to get the answers you desire. And if you make a place, or community or website or whatever to host that information, we’ll, I’m sure it won’t be too hard.