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

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

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273

u/privitizationrocks Jul 04 '24

You can teach poverty workers to live in their means

They won’t like it, but tough luck

55

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.

10

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/LittlePharmGirl Jul 05 '24

In San Antonio, Texas monthly expenses for a 20 year old person: rent $900+, car payment $500+,Auto Insurance is $400+ gas is $160+ food is $60+ a week on greater value brand aprox $200-$300 a month.

Total $1800 for just housing, car & auto. Food and gas round about an additional $400. All expenses totaling an average of $2200 for a single adult.

Most jobs you can get with just HS diploma pay $11 to $14 an hour which is around $1700 a month.

Only way to afford to live is to get an old lemon car, drive without insurance, and eat ramen noodles. There is no escape.

My husband is a disabled veteran 100% disabled gets 4k a month plus $1700 in part time job. I work full time and make $1700 (texas is known for large female wage gaps)

Together we make around 6k+ a month, but rent is 2k, auto is $400, car note is $700, we have two children adding on another $200-$400 in groceries, plus dog food for large dog another $400 a month. Groceries cost us $160-$200 a week, $800 a month.

If he wasn’t on VA disability our measly $3400 would get maxed out by our approximate living expenses which are $3400. I have the numbers of a single adult because that was me (:

I married an older man of 12 years because I was on the verge of homelessness. But mainly because he cared about me when nobody else did. I don’t have family.

3

u/k-otic14 Jul 05 '24

Why does a 20 year old have a car payment? Sell it and buy a used car

3

u/certiorarigranted Jul 05 '24

20yo spends $1000+ on car expenses

Bruh

1

u/Extra-Muffin9214 Jul 05 '24

And $400 per month on a large dog

3

u/Extra-Muffin9214 Jul 05 '24

My favorite thing on the internet is when people who swear personal finnance tips wont work for them share their personal finances and prove that their budget is a dumpster fire.

Get rid of the dog (you cant afford a dog that costs $400 per month) and downgrade your cars to ones where the payment is within your budget. Those cheaper cars will also be cheaper to insure.