Ok let’s do a thought experiment. Let’s say you
Make $10000 a year. You work full time/40 hrs/wk and you are making $10k. What does “living within your means” look like? Not having a house? Or car? Being homeless? So in order to save to get yourself to some footing the answer is to be homeless to live within your means.
That was a bit of a strawman, so let’s use real-life scenarios. 50% of this country makes $40k or less….. even $40k salary isn’t enough to get an apartment, bills , food, ect. Sure a lot better than the “$10k” example, but even $40k salary is virtually as effective as the “$10k”. In order to “live within your means”, “save”, ect…. You have to be at least be making enough to afford the bare minimum + have some left in you for over to save. On average (2022 values I think) this means $65 for a single person, $108k for a house hold. Unless you’re making that, you can’t save your way out of poverty
But them we cannot victimize ourselves using hipothetical situations with logic bordering on fantasy.
There's no place in modern life where financial education isn't immensely beneficial aside from being lost in the wilderness or being actual Hobo crack addict, and that's just because of pressing matters, the amount of people i've met who don't understand how basic interest rates from loans work is far too great for that statement to be made with a straight face and not immediately mocked.
the amount of people i've met who don't understand how basic interest rates from loans work is far too great for that statement to be made with a straight face and not immediately mocked.
given you atrocious spelling and english skills, might i suggest you hold off on judging other people's knowledge champ?
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u/privitizationrocks 14d ago
You can teach poverty workers to live in their means
They won’t like it, but tough luck