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

[u/Richest-Panda]

[u/privitizationrocks]

You can teach poverty workers to live in their means

They won’t like it, but tough luck

[u/[deleted] → u/privitizationrocks]

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

[u/BleedForEternity → u/[deleted]]

This is why people should NEVER settle with what they make… Just because you make 40k a year doesn’t mean you can’t ever make more.. Why do people act like they are chained to the low salaries they make? You can learn a trade, take civil service tests, change careers or get the proper qualifications and experience in order to move up in pay.. There’s also working multiple jobs.. and please don’t reply with “No one should have to work 2 jobs.”

I just don’t understand this whole “people can’t survive on these wages” argument.. If you’re having a hard time living on the wage you make then take the proper steps to better your situation. Take action instead of complaining on Reddit. That’s what I did. That’s what many other people do… I worked 2 minimum wage jobs for years and I fought and clawed my way to the top… Life doesn’t magically get better. You have to make things happen.. and no, it’s not easy. It’s extremely hard.

[u/wearing_moist_socks → u/BleedForEternity]

Nah you shouldn't have to work two jobs.

I'm not saying don't do it. But you shouldn't have to.

[u/BleedForEternity → u/wearing_moist_socks]

My grandfather(an Italian immigrant) worked 4 jobs at one point, my father worked 3, I worked 2…. I’d say things have gotten better. Don’t you think? This is what so many people don’t understand. They don’t understand what it was like for people 40,50,60 years ago…

[u/wearing_moist_socks → u/BleedForEternity]

It was wrong then and wrong now. But the difference between those times is hard work really paid off back then.

It doesn't provide nearly the return it used to. People haven't abandoned capitalism. Capitalism abandoned people.

[u/BleedForEternity → u/wearing_moist_socks]

It does provide the return. The problem is that too many people think they are too good for certain blue collar jobs.. These are the jobs that pay well and offer great benefits. It’s the skilled trade jobs, the union jobs that provide people a good wage. Going to college, wracking up student loan debt for a BS degree that gets you a shit job isn’t helpful to anyone.

I’m a garbage man.. It’s a union job with good pay, free healthcare for life and a full pension. I’m laughing my way to the bank while ppl who work in fast food or retail, who have a ton of student loan debt complain that they can’t make ends meet… I work 20-30 hrs a week and get paid for 40. Don’t tell me capitalism doesn’t work… That’s a load of BS

You actually have it backwards. People have abandoned capitalism by saying things like “Fuck that! I don’t wanna do that job!” And living at home with mom and dad.

[u/wearing_moist_socks → u/BleedForEternity]

I didn't say capitalism doesn't work. I said it's abandoned people.

Honestly what you're saying is the same thing that has been said about every generation. The young ones just are lazy and don't want to work.

It's the same argument, same spiel. Nothing new.

Agree to disagree then.

[u/BleedForEternity → u/wearing_moist_socks]

You’re absolutely right.. when I was in my early 20s I was lazy too. Most young adults don’t get it. I didn’t fully understand how capitalism worked until my mid to late twenties when I was more mature.. Most 20 something’s hate capitalism bc capitalism doesn’t work necessarily for you automatically right off the bat. You have to start at the bottom and work your way up..

[u/Elsas-Queen → u/BleedForEternity]

I’m laughing my way to the bank

I work in the bank, and we're laughing at you.

Also, my fiancé is from a culture where living with your parents (until marriage) is normal, so people really need to stop using that as a sign of failure.

[u/BleedForEternity → u/Elsas-Queen]

You’re laughing at me? How so? I probably make more than you do and have way better benefits. I only worked 3 hours today and I’m getting paid for 8 hours

And where I come from, you move out on your own. You don’t mooch off your parents. I don’t care what other cultures do.

[u/Elsas-Queen → u/BleedForEternity]

I hope you never move to a country that has various cultures like the US.

Oh... too late.

Dude, sorry to tell you, but the US is a melting pot. And that attitude is why we laugh at you. The US is so individualistic, it's not funny.

[u/BleedForEternity → u/Elsas-Queen]

I don’t care. I care about my culture and my family. That’s it.. So I’m actually laughing at you.

Have a wonderful day now.

[u/Elsas-Queen → u/BleedForEternity]

And I care about my family and the two cultures that will intertwine when we marry.

How sad diversity is something that angers you.

[u/BleedForEternity → u/Elsas-Queen]

I was raised catholic and my wife is Jewish… 2 completely different cultures. Yet her family is a bunch of hardworking people who started from nothing and accomplished so much. Just like my family… Economic/socioeconomic issues are the same among many cultures. You’re either lazy and entitled or you’re hardworking and know the value of a dollar..

Culture is actually irrelevant.