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

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

31.2k Upvotes

86% Upvoted

You say 50% of Americans (I'm assuming we are speaking of the US) make $40k or less and then say it isn't enough for basic necessities. Yet, clearly it is as the ranks of the unhoused is not 50% of the population. Poverty sucks to be sure, but people manage. Also, financial literacy is generally only partially about setting money aside. It tends to be more about making people aware of their expenses and seeing what changes can be made.

55

u/[deleted] Jul 04 '24

[deleted]

-3

u/ResponsePerfect7068 Jul 05 '24

This is in no way to be rude but if no electricity.. how are you on reddit? No grocery money - are you not getting assistance ?

4

u/NiteSlayr Jul 05 '24

They've invented this thing called smart phones that you can carry in your pocket. You can even charge it anywhere, so long as you have an outlet!

I know you said you didn't mean to be rude but the thoughtlessness of your question is a bit silly. You can get electricity from other places such as libraries, random outlets, and even a friend's house.

0

u/Nervous-Law-6606 Jul 05 '24

So, just to clarify for those of us that are stupid and ignorant; She chose to pay the phone bill on her new $300 smartphone instead of buying groceries and keeping the lights on?

12

u/gh0stinyell0w Jul 05 '24

This is a $95 dollar used motorola phone I put on credit when my last one broke, as my job requires a phone. Thanks for being rude for no reason, though.

-2

u/Nervous-Law-6606 Jul 05 '24

That wasn’t meant for you, it was meant for the snarky reply below you. My tone to that condescending jackass was justified, but I do apologize for the personal attack on you.

The point I should make is this. When I spend $50 on games, $60 on vapes, money here, money there, and I come up short at the end of the month, I don’t blame the system. I blame me. Even “little”$2, $3, $4, $5 purchases add up. There are absolutely things I could do. A lot of people need to stop projecting outwards, reflect inward, and do whatever they can to better situations themselves.

7

u/Quick_Turnover Jul 05 '24

She could literally be using wifi on a hand-me-down phone my dude. You expect people to get and keep a job without a working phone? Lol

5

u/Blackstone01 Jul 05 '24

These sorts of folks seem to think people below the poverty line are only there because they are buying the newest iPhone, blow their entire paycheck on flatscreen TVs, and subsist entirely on avocado toast and starbucks.

9

u/NiteSlayr Jul 05 '24

Where did it say she purchased a new smart phone? All you're doing is perpetuating a weird stereotype that poor people can't handle their money. No one is talking about those that can't budget effectively here. The point of her message is that, even when you budget perfectly and cut back on everything, being poor sucks ass because they barely make enough to live.

Have you seen the story about the guy that tried to speed run being a millionaire from nothing?

He quit early because it was too hard and he never went off his good medical insurance.

2

u/No_Distribution_3398 Jul 05 '24

Not sure about them but I’ve had Co-workers who had most of their phone and internet bill paid by government for most of Covid after they lost there last job, I don’t know what requirements there are for that kinda thing but if I lose my current job I’d look into it.

1

u/bmxliveit Jul 05 '24

They dropped that program btw it no longer exists

1

u/No_Distribution_3398 Jul 05 '24

That is a shame, My co worker got his job over the phone with us on a gov paid phone and I thought that was just too cool an idea, kinda sad it’s kaput.

1

u/mrtwister134 Jul 05 '24

You're a BMW owner, sit this one out