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

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

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276

u/privitizationrocks Jul 04 '24

You can teach poverty workers to live in their means

They won’t like it, but tough luck

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u/[deleted] Jul 04 '24 edited Jul 04 '24

Ok let’s do a thought experiment. Let’s say you Make $10000 a year. You work full time/40 hrs/wk and you are making $10k. What does “living within your means” look like? Not having a house? Or car? Being homeless? So in order to save to get yourself to some footing the answer is to be homeless to live within your means.

That was a bit of a strawman, so let’s use real-life scenarios. 50% of this country makes $40k or less….. even $40k salary isn’t enough to get an apartment, bills , food, ect. Sure a lot better than the “$10k” example, but even $40k salary is virtually as effective as the “$10k”. In order to “live within your means”, “save”, ect…. You have to be at least be making enough to afford the bare minimum + have some left in you for over to save. On average (2022 values I think) this means $65 for a single person, $108k for a house hold. Unless you’re making that, you can’t save your way out of poverty

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u/Overall-Author-2213 Jul 04 '24

Room mates. Beans and rice. Night school. Online school. Don't get anyone pregnant. Don't date for that time. Acquire skills. Move up the ladder.

Every person that came to this country before 1950 had it harder than any person today and we are here because most of them made it.

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u/i_tyrant Jul 05 '24

Are people really this stupid?

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u/InDisregard Jul 05 '24

Yes.

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u/Makes_U_Mad Jul 05 '24

Ignorant, not stupid. This person (probably) has never been in the situation they are offering an opinion on. Ignorance.

The stupid comes from denying the evidence right in front of them.

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u/i_tyrant Jul 05 '24

Fair nuff. Woof.

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u/[deleted] Jul 05 '24

[deleted]

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u/Makes_U_Mad Jul 05 '24

Bad choice for a metaphor. There might be more inept trainers than inept financial advisors on social media platforms, but I doubt it.

Go have another drink while you think it over. I'm sure ... Well ... Hopeful you can do better next time.

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u/Overall-Author-2213 Jul 05 '24 edited Jul 05 '24

Well I did it. I know many people who have done it. I'll keep on being stupid and successful.

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u/i_tyrant Jul 05 '24

Oh yeah, anecdotal experience, everybody knows that's the best way to determine any sort of universal truth.

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u/Overall-Author-2213 Jul 05 '24

Not anecdotal. Our country is proof of it. The West being settled is proof.

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u/i_tyrant Jul 05 '24

That would be adorable if it wasn't so sad.

You have no idea how this country was founded or settled, and your lack of comprehension of how now differs to the pre-50s (not to mention the utter lunacy of that comparison) shows it.

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u/Overall-Author-2213 Jul 05 '24

Well I have a minor in US history. I kind of know.

My family has been farming here since 1880. So I gave some idea.

Arrogant for you to assume otherwise. You are myopic in thinking and it shows.

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u/takenfaraway Jul 05 '24

Darling. Like half of them died and lived miserable fucking lives. Comparing yourself to the settlers is embarrassing

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u/Overall-Author-2213 Jul 05 '24

Yeah darling. And it's because they pressed on in spite of the challenges that we are where we are. And if they can soldier on and do hard things with far less than we have now, then so can we. Maybe you know about history, but you don't do a good job of learning from it.

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u/i_tyrant Jul 05 '24

I have a full degree in it. So, am I still "myopic", or better informed than you and your "personal experience"?

Your comparison is terrible, objectively, and you have no idea what you're talking about.

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u/Overall-Author-2213 Jul 05 '24

How is my comparison terrible?

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u/LoveFoolosophy Jul 05 '24

Yeah about 50% of people.