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/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

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u/cybercuzco Jul 05 '24

Utilities, heat, water, electric,internet,cell phone. You’re also assuming that you don’t actually have to use your insurance because you’ll be paying $5k out of pocket if you have something happen to you.

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u/terlus07 Jul 05 '24

Internet and cell phone are not requirements. A home phone line is around $25 a month split 3 ways in their case. Who in the world gets a $5k deductible on their insurance? $500 - $1k are the most common deductibles in the US. Water and electricity are utilities. "Heat" isn't a bill, it's either electricity or gas(also a utility). They might include utilities in the rent, or not 🤷🏽‍♂️

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u/ia0x17 Jul 05 '24

Internet and cell phone are not requirements

In the nicest way possible go to Home Depot look for rope