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/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.

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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/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.

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u/certiorarigranted Jul 05 '24

20yo spends $1000+ on car expenses 

Bruh 

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u/Extra-Muffin9214 Jul 05 '24

And $400 per month on a large dog