I remember a really good Cracked article from way back (not a listicle - I think) about why some poor people don't save money in the same way rich people do and the upshot was: some poor people spend money as soon as they have it, because otherwise it would just get spent. IE.... it would get 'lost' on bills etc and be in many senses worthless. But if you spend it on something that does have worth (in everything except the monetary sense) - holidays, cosmetic stuff - it doesn't get 'lost' in the same way. That made a LOT of sense to me and I still think about years later.
Especially because 10K isn't enough to change your economic circumstances. Living in rented/social housing, there isn't any kind of home improvement that it would pay for which would improve the quality of your life any. If we take the usual finger-in-the-air figure of 5% return for investing it, even if you knew how, it would be about 500 a year or a tenner a week - that would get swallowed up in bills and never noticed. Other side of the coin, it could pay for a holiday of a lifetime or a great TV or nice clothes or whatever it is that you want but would never otherwise be able to afford, providing some joy that you otherwise wouldn't have. I know which I would choose in those circumstances (I grew up poor, I have seen these calculations made up close).
Something similar with the celebrated marshmallow test (kids who wait for two marshmallows more likely to do well in life than those who eat one now).
Supposedly – full disclosure, my research here is only podcast-deep –only it doesn’t hold up once you factor in whether those kids live in affluence or conditions of scarcity. Big surprise, kids who live eg in care homes will eat treats before they get snatched away:
Don't have a link and haven't listened to the podcast, but I've read that the marshmallow test was flawed precisely because it did not control for class or income. For some children, marshmallow was a complete novelty. Not so much for others. Guess which group went on to be more "successful"?
I’m guessing it’s older Daily Telegraph readers most excited about ‘getting these lazy kids off their backsides and in the army’ with this stuff coming up about national service and the draft , so I have a simple offer
It’s going to cost a lot of money to pay for hundreds of thousands of young people to be drafted or otherwise serve in the army so this should be paid for by a tax on property and ending the Triple Lock, this way all generations can play their part
I *so* want to see the Dads Army reboot with that cast. “Roight - we parachute into Berlin and take out the officers and then you drive at full speed in a stolen tank to…”
Some absolute gems this time Helen. "Give that AI a Booker.....bronzed demonic energy even when his words make no sense.....Joe Biden turning into a statue of Joe Biden"....all brought a cheer to my morning coffee.
I remember a really good Cracked article from way back (not a listicle - I think) about why some poor people don't save money in the same way rich people do and the upshot was: some poor people spend money as soon as they have it, because otherwise it would just get spent. IE.... it would get 'lost' on bills etc and be in many senses worthless. But if you spend it on something that does have worth (in everything except the monetary sense) - holidays, cosmetic stuff - it doesn't get 'lost' in the same way. That made a LOT of sense to me and I still think about years later.
Especially because 10K isn't enough to change your economic circumstances. Living in rented/social housing, there isn't any kind of home improvement that it would pay for which would improve the quality of your life any. If we take the usual finger-in-the-air figure of 5% return for investing it, even if you knew how, it would be about 500 a year or a tenner a week - that would get swallowed up in bills and never noticed. Other side of the coin, it could pay for a holiday of a lifetime or a great TV or nice clothes or whatever it is that you want but would never otherwise be able to afford, providing some joy that you otherwise wouldn't have. I know which I would choose in those circumstances (I grew up poor, I have seen these calculations made up close).
Something similar with the celebrated marshmallow test (kids who wait for two marshmallows more likely to do well in life than those who eat one now).
Supposedly – full disclosure, my research here is only podcast-deep –only it doesn’t hold up once you factor in whether those kids live in affluence or conditions of scarcity. Big surprise, kids who live eg in care homes will eat treats before they get snatched away:
https://podcasts.apple.com/se/podcast/hidden-brain/id1028908750?i=1000617585720
Don't have a link and haven't listened to the podcast, but I've read that the marshmallow test was flawed precisely because it did not control for class or income. For some children, marshmallow was a complete novelty. Not so much for others. Guess which group went on to be more "successful"?
I’m guessing it’s older Daily Telegraph readers most excited about ‘getting these lazy kids off their backsides and in the army’ with this stuff coming up about national service and the draft , so I have a simple offer
It’s going to cost a lot of money to pay for hundreds of thousands of young people to be drafted or otherwise serve in the army so this should be paid for by a tax on property and ending the Triple Lock, this way all generations can play their part
"Minimum viable book"
I was just sick in my mouth a little bit
I *so* want to see the Dads Army reboot with that cast. “Roight - we parachute into Berlin and take out the officers and then you drive at full speed in a stolen tank to…”
Thanks for the piece on the extreme of AI in publishing - utter madness!
Just seen your Twitter/X post from last night, boy has that triggered a few people
The Biden one? Some people think that the idea he’s old is a rightwing myth
Some absolute gems this time Helen. "Give that AI a Booker.....bronzed demonic energy even when his words make no sense.....Joe Biden turning into a statue of Joe Biden"....all brought a cheer to my morning coffee.
*Rennée Zellweger voice* 'You had me at Flemish theatre director'
It was a niche piece, but I’m glad it’s found an audience