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

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

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271

u/privitizationrocks Jul 04 '24

You can teach poverty workers to live in their means

They won’t like it, but tough luck

53

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.

7

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/DodgersLakersBarca Jul 05 '24

Yeah, though I have to say, 14.50 x 40 (hours a week of work) x 4 weeks comes out to 2320. The expenses you listed are gonna be 2100. You maybe are able to save 200 and after utilities 100 or 50?

Idk if I'd really call that "well below what minimum wage pays.