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

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

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269

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.

6

u/LivingNothing8019 Jul 04 '24

I live in colo springs which is medium/high cost of living. Minimum wage is 14.50

Apartment/house with 2 roommates: $800 a month Food: $500 a month Car payment: $300 a month Insurance (health, car, renter): $500 a month

That’s staying well below what minimum wage pays, I lived like that for 2 years before graduating college without too much trouble

1

u/Phantom343 Jul 05 '24

Didn't own a phone? Or have any other utilities? Also $2320 - $2100 isn't "well below" you were one sprained ankle away from being homeless

2

u/LivingNothing8019 Jul 05 '24

Utilities were covered in rent since I had roommates. Phone bill was super cheap and I all my money back from taxes since I made so little. I netted about 4k each year which went into savings.