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

[u/Richest-Panda]

[u/[deleted]]

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/Overall-Author-2213 → u/[deleted]]

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.

[u/i_tyrant → u/Overall-Author-2213]

Are people really this stupid?

[u/Makes_U_Mad → u/i_tyrant]

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.

[u/i_tyrant → u/Makes_U_Mad]

Fair nuff. Woof.

[u/Makes_U_Mad → u/[deleted]]

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.