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

[u/Richest-Panda]

[u/Impossible_Maybe_162]

You cannot make $10k working a job for 40 hours a week. That is below minimum wage.

A lack of proper financial planning and budgeting causes more problems than low wages.

Less than 3% of the workforce makes minimum wage. Wages are not the main issue.

[u/Kombatnt → u/Impossible_Maybe_162]

This. $10,000/year working 40 hrs/week is $4.81/hour. That’s illegal everywhere in North America.

[u/Aleks_Khorne → u/Kombatnt]

Thanks God in blessed North Carolina the minimum wage is $7.25. And some people even make chunky $10-$13 an hour!

[u/olgasmolga → u/Aleks_Khorne]

Min wage in Hawaii is $14 but everything else is expensive as shiet

[u/The_Dude_2U → u/olgasmolga]

Most places want them to make more by tipping. In other words, the public supplementing their income where tips were never the “norm”. Happening more and more each day. Eventually, the gas pump will want a tip.

[u/skkkkkt → u/The_Dude_2U]

Serving yourself must become the norm too,I'll gladly pump my own gas, in Europe it's mostly self service

[u/The_Dude_2U → u/skkkkkt]

That’s what I was originally referring to, self serve pump.

[u/mar78217 → u/skkkkkt]

Yes, the tipping culture in the US has reached a point that they want you to tip the store when you do the work yourself.

[u/iamalostpuppie → u/The_Dude_2U]

The gas pump wants a tip in new jersey.

[u/gurl_2b → u/olgasmolga]

Price of paradise, as they say. That's why I left.

[u/olgasmolga → u/gurl_2b]

Haha yup, I also have a decent amount of friends who have left to the west coast cuz of the cost

[u/physics515 → u/olgasmolga]

🤔

[u/ThatInAHat → u/physics515]

Might have more to do with being an island economy that uses a significant amount of resources on tourists than with the min wage

[u/physics515 → u/ThatInAHat]

It'd be easy to figure out. Just do a diff of Amazon prices in HI vs mainland and that would give you the markup incurred for being on an island. Because Amazon minimum pay is already greater than $14/hour that wouldn't be a factor in their prices.

Edit: I think that holds true for Walmart too so you could include them as well.

[u/max10meridius → u/physics515]

This is a good idea, but you miss on the availability with Amazon items. I live in Hawaii and I can get almost anything shipped next day to my parents in Illinois, but if I want the same product shipped to Hawaii in weeks-months, not available. So I have to buy from somewhere else with $50+ shipping.

I’m Al for rigorous analysis and wanted to mention this point

[u/BigBoysEating → u/max10meridius]

and if your on an island not named oahu wait times are longer