why do college students count their chickens....

[CourtHorn]

Maybe they want something to look forward too. Just like when some woman say, i will get a 1 carat diamond now, even thuoght it''s "small," but i will upgrade in 5 years. It''s nice to be able to look forward to something.

I am in grad school right now. I always fantasize about nice cars/jewelry/trips I want to take, even though i don''t have a job right now. My BF has a good job and we can comfortably pay the mortgage and car payments with just his salary. It is something to get me through the crappy days.

 

[princessv]

Totally off topic but CourtHorn your puppy in your avatar is to die for!!

What kind is he/she? Do you have anymore pictures??

 

[CourtHorn]

Date: 4/17/2006 10:21:34 PM
Author: Princess V
Totally off topic but CourtHorn your puppy in your avatar is to die for!!

What kind is he/she? Do you have anymore pictures??

Thanks! He is a maltese named Pez, and he is the most fabulous doggie ever. I will look for some pictures.

 

[JenStone]

I attended an expensive, private school where (rich) doctors send their kids to become (rich) doctors. Now this may be a big generalization but I saw money being flaunted everywhere - girls carrying $5000 bags, 20-year olds driving around in Mercedes, BMW''s, etc. Many students are actually discouraged from working lest the extra work distract them from their studies. However, it always comes to bite them in the a$$ come graduation time and no one wants to hire them because they have no experience.

My mother once talked about this phenomenon - one of her best friends'' daughter had just graduated from Yale but could not find a job. Or rather, she could not find a job that paid her what she thought she deserved. She believed that her Ivy League education warranted a $80k+ starting salary. After 6 months of searching, she finally settled on a job paying $35k. But because she was not making "good money" (her parents are very well off) her parents bought her an apartment in NYC so that she would not have to pay rent on top of her other bills.

I''m not sure what the point of all that was....maybe I''m venting about my entry-level job and entry-level salary which I must use to pay all my "adult" bills. (And what a shocker that was when I first started to live on my own!) Sometimes I get tempted to move back in with my parents so at least I''d save some money....but once you live on your own, it''s really hard to go back. When I see my friends wearing $400 Mahnolo Blahniks (spelling?) their parents paid for, I look down on my hard-earned $60 shoes and cannot help but smile.

 

[anchor31]

I''m lucky enough to live where the tuition fees are ridiculously low (and people still complain of course

) and my parents have been putting money on the side for years so they can pay for their three children''s rents to help us through college. It also helps that my brother is now in the Royal Navy and doesn''t cost a penny to our parents anymore. I''m very grateful because I don''t have to work during term and I can devote more time to my studies, but I still have to work every summer under the pain of losing the financial support. I know not a lot of people are so lucky, and I appreciate what I have!!!

Nevertheless, I still have a very frugal lifestyle, like I''ve always had and probably always will. I made a strict budget for myself and am putting as much money as I can in a savings account so I can have something to live on if I don''t find a job straight out of school. I''m well aware that this might happen. My dear BF has been out of school for a year and has been doing contract work, which is not the most stable situation there is. We''ll have a very strict budget for our wedding in 2-3 years, and we both know it might take another few years until we can own a home.

On another note, yes I''ve seen some rich kids throw away money, but I''ve also seen kids with 20k of debt putting most of their loan money on clothes and alcohol...

 

[ephemery1]

Anchor I think you make a really good point... irresponsibility with money seems to happen regardless of how much people actually have. And kind of like JenStone was saying, I do think it can depend on whether you''ve ever had to pay your own way in life... but just for another perspective: I am kind of an opposite example, personally. I''ve been in an expensive grad school for the better part of the last 5 years (though right now working part-time as well), so definitely don''t have a ton of savings. My parents have been able to help me out quite a bit financially (they paid for my car, apartment, education, etc.), and though this obviously means I''m living in a less than "grown-up" reality right now, I am still incredibly appreciative of that support and NOT frivolous with the money I do earn on my own. I understand not everyone has the advantage I do, so I''m grateful for that... and put most of my own money aside for the future when I WILL be paying my own way. So like I said, just another perspective... I''m a bit sensitive to it, because it can be difficult to defend my lifestyle to the people assuming that because I drive an expensive car and live in an affluent area of the city, I''m another spoiled brat living off daddy. I know I''m lucky to have the privileges I do... but fortunately I don''t think I''m "spoiled" as a person quite yet!

 

[icekid]

ephemery- I think I saw somewhere that you''re at Penn? I am curious as to where you live now

I go to school in Philly too.

 

[meepcat]

Date: 4/17/2006 11:05:22 PM
Author: JenStone

My mother once talked about this phenomenon - one of her best friends'' daughter had just graduated from Yale but could not find a job. Or rather, she could not find a job that paid her what she thought she deserved. She believed that her Ivy League education warranted a $80k+ starting salary. After 6 months of searching, she finally settled on a job paying $35k. But because she was not making ''good money'' (her parents are very well off) her parents bought her an apartment in NYC so that she would not have to pay rent on top of her other bills.

I''m not sure what the point of all that was....maybe I''m venting about my entry-level job and entry-level salary which I must use to pay all my ''adult'' bills. (And what a shocker that was when I first started to live on my own!) Sometimes I get tempted to move back in with my parents so at least I''d save some money....but once you live on your own, it''s really hard to go back. When I see my friends wearing $400 Mahnolo Blahniks (spelling?) their parents paid for, I look down on my hard-earned $60 shoes and cannot help but smile.

It''s funny, some people develop this air of snobbishness, feeling they''re privileged enough to be paid what they''ve been deluded into believe they deserve. I started out at rock bottom, and worked my way to what I feel, is a very comfortable salary. It took me 10 years to get here, but I had to make certain that each time, I was learning something new and re-applying myself to the new job. I''ve pulled all-nighters at EVERY company I worked for, and I based how much I''ve improved on how many deliberate all-nighters I''ve pulled. There are a lot of kids in the bay area, particularly at Google, who will probably do this. For that, they''ll get paid the big bucks to burn out early, and wonder where their adolescence went: into google''s legacy.

I''m an accessories girl -- I''ll happily pair my Louis Vuitton hand bags and Manolo Blahnik shoes (both real and from ebay, and purchsed for %40 of the original price, used) with some jeans I bought 7 years ago, and a $2 sweater I bought at a rummage sale. I admit, I got caught up in the Sex in the City fantasy, but for me, there''s a great appeal in wearing a bag that has both artistry and durability, along with shoes that have a practical steel rod through the heel. Of course, I do muse at the girls who traipse through the mall near my area, and wonder sometimes, "how the HELL can they afford those handbags, if they bought them full price? what DO they do? Are they even saving? "

And then I look at my 401k and savings plans, and feel at peace with myself.

 

[rainbowtrout]

Date: 4/18/2006 9:25:42 PM
Author: meepcat

Date: 4/17/2006 11:05:22 PM

Author: JenStone


My mother once talked about this phenomenon - one of her best friends' daughter had just graduated from Yale but could not find a job. Or rather, she could not find a job that paid her what she thought she deserved. She believed that her Ivy League education warranted a $80k+ starting salary. After 6 months of searching, she finally settled on a job paying $35k. But because she was not making 'good money' (her parents are very well off) her parents bought her an apartment in NYC so that she would not have to pay rent on top of her other bills.


I'm not sure what the point of all that was....maybe I'm venting about my entry-level job and entry-level salary which I must use to pay all my 'adult' bills. (And what a shocker that was when I first started to live on my own!) Sometimes I get tempted to move back in with my parents so at least I'd save some money....but once you live on your own, it's really hard to go back. When I see my friends wearing $400 Mahnolo Blahniks (spelling?) their parents paid for, I look down on my hard-earned $60 shoes and cannot help but smile.

It's funny, some people develop this air of snobbishness, feeling they're privileged enough to be paid what they've been deluded into believe they deserve. I started out at rock bottom, and worked my way to what I feel, is a very comfortable salary. It took me 10 years to get here, but I had to make certain that each time, I was learning something new and re-applying myself to the new job. I've pulled all-nighters at EVERY company I worked for, and I based how much I've improved on how many deliberate all-nighters I've pulled. There are a lot of kids in the bay area, particularly at Google, who will probably do this. For that, they'll get paid the big bucks to burn out early, and wonder where their adolescence went: into google's legacy.


I'm an accessories girl -- I'll happily pair my Louis Vuitton hand bags and Manolo Blahnik shoes (both real and from ebay, and purchsed for %40 of the original price, used) with some jeans I bought 7 years ago, and a $2 sweater I bought at a rummage sale. I admit, I got caught up in the Sex in the City fantasy, but for me, there's a great appeal in wearing a bag that has both artistry and durability, along with shoes that have a practical steel rod through the heel. Of course, I do muse at the girls who traipse through the mall near my area, and wonder sometimes, 'how the HELL can they afford those handbags, if they bought them full price? what DO they do? Are they even saving? '


And then I look at my 401k and savings plans, and feel at peace with myself.

The comment about google is SPOT ON. I have to say that of my 3 friends who are starting that high, one is at Google, one is doing consulting, and one is in IBanking. They will be working 120 hour weeks and I don't think any of them realize what they are in for, except the google guy who spends night working on comp stuff anyway so he might as well get paid for it...

I was talking to this with the FI today. One of our friends got a GREAT starter at Columbua for 50/yr and is upset because her boyfriend is the ibanking guy and is making so much more.

Then she made a comment about how he's doing all the cooking next year

Girl has NO IDEA. You earn that cash. heck, I am worried about FI becoming a doctor and quality of life issues there. But at least when he's a doctor and gets up in the middle of the night I can comfort myself with the thought that he is saving someone's life or at least helping them heal better.

RE: clothes. I don't know. If my mother and grandmother didn't forcibly drag me shopping and buy me jeans and "real people" clothes every few years, I'd look a mess. I threw out my jeans from 8th grade 2 years ago...ack. Luckily this means I avoid the fashion trends and get good pieces bc my mom/granmother believe in buying expensive brands that last... it just means all my christmas presents/birthday/whatever tend to be practical items. Although my grandmother has developed this odd fetish for buying me fancy loungewear....probably bc she figured if I wasn't going to change out of it when at her house I might as well look good! (OK unrelated but I think it highly amusing--her eyesight is going so she called me to say she got me a new pair with hearts on them, she was SO excited, and then turned out to be *apples*)

By the way,I'm feeling the need to represent for the Ivy kids that got through school on their own bloody merit. Yes, there are the annoying girls with 1,000K worth of outfit on when they get in the elevator. Yes there are the dumb kids who are here bc of rich parents. But some of us freaking work for this education, and yes it can be worth a nice chunk of change if you play your cards right. Penn basically put me through school...along with your tax dollars, DF !

(she says, working on a French presentation while procrastinating on PS).

 

[midgirl]

There are some people who don''t mind working 60-80 hour weeks as crazy as it sounds. My dad absolutely loves it. He would work 24-7 if he had too. Especially with computer jobs, there are some people who can''t get enough tech gear and would happily work and never sleep if their bodies could handle it.

Kids who get right out of college and get great jobs? good for them I hope I am one of them!

 

[ephemery1]

Hi IceKid, yes I''m currently at Penn and living in Rittenhouse Square... its basically me (a lowly psych student) and all the Wharton people over here!!

 

[ephemery1]

Date: 4/18/2006 9:25:42 PM
Author: meepcat

I'm an accessories girl -- I'll happily pair my Louis Vuitton hand bags and Manolo Blahnik shoes (both real and from ebay, and purchsed for %40 of the original price, used) with some jeans I bought 7 years ago, and a $2 sweater I bought at a rummage sale. I admit, I got caught up in the Sex in the City fantasy, but for me, there's a great appeal in wearing a bag that has both artistry and durability, along with shoes that have a practical steel rod through the heel. Of course, I do muse at the girls who traipse through the mall near my area, and wonder sometimes, 'how the HELL can they afford those handbags, if they bought them full price? what DO they do? Are they even saving? '

And Meep, I'm with you... I don't think there's anything wrong with owning nice things if you're not breaking your budget, but for me, the thrill is always in the bargain! Every so often I'll pay full-price for something that I need, but I much prefer stumbling upon a nice designer bag or pair of jeans or sunglasses at Marshall's or Gabe's for a fraction of what they would have cost otherwise. My BF is constantly complaining that I've made him cheap by refusing to pay full-price for anything, if there's the slightest chance we might be able to find it for less!

But I've definitely come to a point in my life where I've started to appreciate the value of an item more than the status of it, especially when it comes to timeless pieces like a LV bag. Not that I've justified one for myself quite yet, but maybe someday!

 

[Dancing Fire]

Date: 4/18/2006 11:40:51 PM
Author: rainbowtrout

Date: 4/18/2006 9:25:42 PM

By the way,I''m feeling the need to represent for the Ivy kids that got through school on their own bloody merit. Yes, there are the annoying girls with 1,000K worth of outfit on when they get in the elevator. Yes there are the dumb kids who are here bc of rich parents. But some of us freaking work for this education, and yes it can be worth a nice chunk of change if you play your cards right. Penn basically put me through school...along with your tax dollars, DF !
(she says, working on a French presentation while procrastinating on PS).

rainbow

at least my tax dollars went to a good cause.

nothing more important than a good education.

 

[icekid]

Date: 4/19/2006 9:50:31 AM
Author: ephemery1
Hi IceKid, yes I''m currently at Penn and living in Rittenhouse Square... its basically me (a lowly psych student) and all the Wharton people over here!!

haha, some of my classmates live in Rittenhouse. Most of us live closer to Jeff (where we''re med students) though- Wash Sq West area.

 

[ephemery1]

Date: 4/19/2006 3:32:30 PM
Author: icekid

Date: 4/19/2006 9:50:31 AM
Author: ephemery1
Hi IceKid, yes I''m currently at Penn and living in Rittenhouse Square... its basically me (a lowly psych student) and all the Wharton people over here!!

haha, some of my classmates live in Rittenhouse. Most of us live closer to Jeff (where we''re med students) though- Wash Sq West area.

Oooh so close to Jeweler''s Row then... how convenient!

I love Wash Sq West... if Rittenhouse weren''t so convenient to Penn, I think it''d be a great place to buy into right now. My friend just got a gorgeous apartment in a renovated building on 13th and Spruce, so we''ve been spending lots of time down that way! On days like today though (GORGEOUS and 75 degrees), I''m most content just people-watching in the park with a book and Cosi salad.

 

[rainbowtrout]

here''s my egg counting

In 5-7 years when I am above the poverty line and have a tenure track job (please lord..) I want a really nice Coach purse. And I want to be able to buy new clothes without needing them because the old ones broke, or asking my parents for them as christmas gifts

 

[meepcat]

I''ve forgotten what it''s like to struggle for a new salary. I was one of those kids, who at 18, worked for Netscape (remember Netscape?) during its heyday, while trying to beat out Microsoft for the best browser. There were countless all-nighters. I had a futon under my desk, so I could sleep, if the developers had fixes ready for testing. I had so much energy back then. I have done that virtually with every job, since I''ve only worked for start-ups in the past 11 years, and it has worn very thin. I''ve learned, through countless mistakes from lack of sleep, that the quality of your work is not directly proportionate to the quantity of hours you put into it.

 

[gailrmv]

Re: the ivies and similar, I don;' t think they let in any "dumb rich kids." They might let in kids who are rich and do dumb things once they get there, party all the time, etc. But they did have to get certain grades/scores to get admitted, and perform to certain standards to get their degree. There are plenty of other party schools where the dumb rich kids can go! There are also people going to ivies/similar who do not have a scholarship OR rich parents, and those are the people whose parents sacrificed and saved to send them there, and/or they took out loans to be able to go. To some people it is worth it!

 

[rainbowtrout]

I don''t know if they were dumb before they got here or if they lost the brain cells after arriving...but oi. It''s not really brains in question as much as general airheadedness and a lack of realization that some people can''t afford everything you can...

still, lot of very sweet people here regardless of income.

 

[Dancing Fire]

Date: 4/21/2006 1:29:10 PM
Author: meepcat
I''ve forgotten what it''s like to struggle for a new salary. I was one of those kids, who at 18, worked for Netscape (remember Netscape?) during its heyday, while trying to beat out Microsoft for the best browser. There were countless all-nighters. I had a futon under my desk, so I could sleep, if the developers had fixes ready for testing. I had so much energy back then. I have done that virtually with every job, since I''ve only worked for start-ups in the past 11 years, and it has worn very thin. I''ve learned, through countless mistakes from lack of sleep, that the quality of your work is not directly proportionate to the quantity of hours you put into it.

meepcat

did they offer you any stock options? if you own and sold Netscape stocks at its peak,you could retire.