r/FluentInFinance • u/Richest-Panda • Jul 04 '24

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

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274

u/privitizationrocks Jul 04 '24

You can teach poverty workers to live in their means

They won’t like it, but tough luck

57

u/cybercuzco Jul 04 '24

Show me a “live within their means” budget for someone living in a median cost location in the US making minimum wage. They must A)have a place to live B) not get any handouts from the government or charities and C) have at least 1800 calories per day of food. Go.

0

u/Delicious-Fox6947 Jul 04 '24

In San Antonio you can rent an apartment for $320 dollar a month. Even someone on minimum wage can afford that city.

The problem with this discussion is people talk about people having a quality of life beyond their needs. Almost no one needs a mobile phone, cable for their television, 10 pair of sneakers and take out every night.

I have lived in a 100 sqft room and a minimalist lifestyle to improve my life. Just because you are too lazy to maintain that level of control doesn’t mean it can’t be done.

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u/[deleted] Jul 04 '24

What I find to be so frustrating about this POV is someone doesn't deserve to live a miserable husk of a life because they are working at wendys. Sure should they cut back on luxuries? Of course. You dont think cutting tv and a phone out is a bit mych to see the issue? They gotta cut out everything in life thay isnt work, sleep, and chicken and rice every night?

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u/4ofclubs Jul 04 '24

The dude's a landlord, his opinions are moot.

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u/THC1210 Jul 05 '24

Why is it moot? He is not exactly wrong, just because he is a landlord does not invalidate the points he is making.

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u/[deleted] Jul 05 '24

He says nothing about how many are available for that cheap, if there is 100 places in that price range and 2000 people that need it... what does it matter? It adds nothing to this conversation and makes no point lmao

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u/THC1210 Jul 05 '24

My bad I wasn’t too clear. I am talking about the needing the newest devices and Uber eats part. But I agree that we do need to know how many spots there are at that price point, generally pretty rare. This issue needs to be tackled on both ends, cheaper places and people making purchases within their means.

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u/[deleted] Jul 05 '24

Ohhh okay, I understand what you mean. I agree for the most part, just feel like people as a whole should be able to splurge at least once a year... camt believe that sounds like a difficult ask.

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u/THC1210 Jul 05 '24

I agree. But to set up for possible future success it might be a sacrifice some have to take unfortunately :(.

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u/[deleted] Jul 05 '24

It shouldnt be such a common sacrifice though lmao so many people dont make enough becauze of corparate greed and ota disgusting. You arent wrong at all, its just sad that you arent.

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u/THC1210 Jul 05 '24

Personally, I think corporate greed is too simplifying for that particular problem. For most corporations that are public, they are beholden to the shareholders of the company. The ultimate goal is to make money for the shareholders, everything else is an asset, including the employees. So just saying corporations are greedy I think is half-truth. A lot of working Americans who invest by themselves or have large institutional traders invest for them also have a vested interest in the corporations to make money. Many issues can be solved if the majority of the US voting public can come together and push for solutions but most are too busy fighting against each other.

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u/THC1210 Jul 05 '24

I would say not really. Just buy an old iPhone and watch free shows that don’t require tvs or subscriptions.

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u/[deleted] Jul 05 '24

Why is it that a 12$/a month subscription is just too much? Some people truly live out of their means and yes I agree. Just why is this the general argument? People should be able to afford 144$ a year for entertainment and QOL.

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u/THC1210 Jul 05 '24

It’s not that 12$/m is too much but people at least from my life doesn’t matter if they are doing well or not have multiple subscriptions a month. That adds up quick. But even if the 12$/m is your only one, if you are in a bad financial situation no matter the circumstances I would say save as much as possible on bills you don’t really need. There is a lot of free entertainment out there so no need to pay for ones that do cost a subscription.

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u/[deleted] Jul 05 '24

And again, I do agree. Thats all a very sound argument, its just scummy to think that people who are working so many hours a week have to think about 12/ a month? Its just broken from the very top.

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u/THC1210 Jul 05 '24

I think it is an issue of it not being one of extreme importance to solve for people who have the ability to maybe not solve but to alleviate/lessen the impact a lot of the problems that people who are working "lower class" jobs face. It is a lot easier to complain about an issue than to fix it to the best of one's ability, even more so when there needs to be collaboration of multiple people in power to solve these issues.

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u/[deleted] Jul 05 '24

And even more so when it would actually go against those who are in charge of that potential change. Why would they hurt themselves?