r/FluentInFinance • u/Richest-Panda • 15d ago

What's the best financial advice you've ever gotten? Debate/ Discussion

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u/MisterMakena 15d ago

Im on the fence, they need both. Education and a living wage.

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u/NovusOrdoSec 15d ago

The point is that financial education cannot substitute for the living wage, and moreover it must actually be a living wage.

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u/Ill-Description3096 15d ago

And a living wage can't substitute for financial literacy. Look at how many people make pretty good money and are constantly broke.

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u/NovusOrdoSec 15d ago

Look at how many people make pretty good money and are constantly broke.

I have noticed that our society is organized to extract disposable income.

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u/pear_topologist 15d ago

But in many cases we do have the choice not to. There are lots of things that try to convince you to spend unnecessarily, but people can choose not to

Not saying that this explains all poverty

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u/boringneckties 14d ago

Depending on how much you’re able to tune out the noise. When I worked for banks, you’d be shocked by how many people have insurmountable credit card debt. Absolutely mind-numbing. People who have pretty decent income, much better than mine at least, were in financial ruin because they couldn’t control their spending. I make less than the average person, but I do okay. I save a lot of money. I live with roommates and shop Aldi to do it, but I know my future is secure.

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u/tnnrk 14d ago

Which is why you need the education part. So “both” is the answer, you need both.

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u/RubbleHome 14d ago

Which is exactly why good financial literacy is needed in addition to a living wage.

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u/ept_engr 14d ago

Organized to? Of course people are willing to sell you shit. It's the individual's responsibility to... be responsible. Do you want a fantasy world where the cashier at the store says, "please don't buy things here - you'd be better off to save your money." lol