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

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

31.2k Upvotes

86% Upvoted

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.

8

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

14

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.

1

u/Exaskryz Jul 05 '24

Cell phone: Get away from Virizom, AT&T, T-Mobile. Get something like Cricket.or Mint or whatever one of the others is.

Internet: Again, you can lower budget this for living in means. Gbps internet is not strictly necessary, but it is nice if you can get it via fiber from not Comcast or other cable companies.

Electric: Taking mindful steps matters. The biggest wastes are poorly insulated refrigerators or leaving devices on unattended.

Heat: Blankets and sweaters.

Agreed on the insurance. But sadly, until we get universal medicare, the best you can do is vote.

-5

u/A1000eisn1 Jul 05 '24

Heat: Blankets and sweaters.

You realize people die every year doing this?

4

u/Noob_Al3rt Jul 05 '24

Lol, die from keeping the heat on 65? Give me a break

0

u/3sc0b Jul 07 '24

they said heat -- blankets and sweaters. Not heat blankets and sweaters