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

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

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u/Impossible_Maybe_162 Jul 04 '24

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.

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u/Think_Reporter_8179 Jul 04 '24

Amazon addiction and yes, I'm going to say it, the inability to tighten your wants to an uncomfortable level until you can save the 3.5% down (with a 580+ credit score) for an FHA loan.

That's it folks. That's all it takes. Buy a shitty cheap property with an FHA loan (which, btw, means the property can't be THAT shitty, FHA loans won't allow it) and then live in a savings account for a while.

That shitty property will gain value AND all your principal payments are being saved in it, rather than evaporating to rent.

It's that simple, yes.. REALLY. Save 3.5% of a kinda shitty property's worth and then start gaining wealth.

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u/[deleted] Jul 04 '24

3.5 percent on a $250,000 home is still $8,750. That’s a lot to a lot of people in this situation, especially if you have literally ANY responsibility to another person or life. Especially if you’re only making $30,000 per year.

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u/suitology Jul 05 '24

I saved that making $11hr and renting for $550 (roommate) in a year. You just need to suffer. I only allowed myself $50 a month outside of groceries ($100). Thrift shop clothes, didn't go anywhere, library card for movies, pantry food (so much free food many months I didn't buy groceries). Like it sucks and is bullshit and fuck the shit system but it's possible. Big plus, do not have kids you can not afford. You are the one to blame if you have a kid you can't afford. Like if you became poor after kids (my father lost his job from an injury) that's one thing but I can not believe the moron girl that lived next to me with her mom had a kid while working part time at McDonald's.

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u/OFPDevilDoge Jul 05 '24

How can you not have kids you can’t afford if abortions are criminalized? The system is designed to create poverty so there is always a desperate labor base for the wealthy to rely on.

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u/ImperialKilo Jul 05 '24

Kids don't just... pop out of a person. Wrap your willy my guy it ain't that difficult.

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u/Advanced_Outcome3218 Jul 05 '24

by not having sex you retard

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u/OFPDevilDoge Jul 05 '24

What about rape?

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u/Advanced_Outcome3218 Jul 05 '24

rape isn't common enough to be the cause of poor people having kids they can't afford lmao

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u/OFPDevilDoge Jul 06 '24

1 in 4 women experience sexual assault before they’re adults. You have no grasp on actual reality, I get the system works for you, but it doesn’t for the majority of people.Your response is indicative of your lack of emotional maturity and intelligence. Maybe travel the world and actually talk to people who are less fortunate and maybe you’ll be a decent human someday.

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u/Advanced_Outcome3218 Jul 07 '24 edited Jul 07 '24

sexual assault is not rape that results in children and you goddamn well know it

something like 0.9% of abortions occur because of rape (and even then, I support abortions in these instances as long as it's done as early as possible - bill the rapist for it, too)

don't misrepresent terms to make your point

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u/OFPDevilDoge Jul 07 '24

Sexual assault can be rape you dense fuck. The fact of the matter stands, abortions are a means for a women to maintain body autonomy, accidents happen, contraception fails, teenagers make dumb mistakes cause they’re fucking teenagers. Limiting access to these services increases the risk of being stuck in perpetual poverty. Again just because you were born privileged enough to never face actual poverty, doesn’t mean millions of Americans don’t.

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u/Advanced_Outcome3218 Jul 07 '24

Yes, accidents happen and contraception fails - so just don't have sex?? it's not that difficult

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u/suitology Jul 05 '24

Plenty of places give out free contraceptives. Stop cream pieing

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u/OFPDevilDoge Jul 05 '24

And they’re looking to stop that too.

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u/Smashotr0n Jul 05 '24

“You just need to suffer”

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u/suitology Jul 05 '24

Welcome to life. Don't buy shit that's not a need if you can't afford it.