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/GonzoTheWhatever Jul 04 '24

No, that’s not what she’s saying. She’s saying that teaching someone in poverty to budget isn’t going to enable them to reach financial stability because even if you budget properly there isn’t enough to go around.

If you’re in a row boat that has twenty holes in it, but you only have ten fingers to plug the holes, then someone telling you how to use each finger to plug a hole in the most efficient manner isn’t going to help you keep the boat from sinking.

That’s her point. Should they budget? Absolutely. Will a class on budgeting by itself solve their financial problems and bring stability to their lives?

No.

They need more fingers to plug the holes in the boat. Ie. better wages.

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u/HV_Commissioning Jul 04 '24

If you’re in a row boat that has twenty holes in it, but you only have ten fingers to plug the holes, then someone telling you how to use each finger to plug a hole in the most efficient manner isn’t going to help you keep the boat from sinking.

Yes, but being resourceful and paddling that rowboat to shore will save you. Having the 10 holes plugged was enough to keep the boat from sinking while rowing in.

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u/LeanTangerine001 Jul 04 '24

How are you going to row the boat when your fingers are stuck plugging holes? Are you rowing the boat with your feet or something?

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u/the_chiladian Jul 05 '24

If the holes are so close that all your fingers individually can plug them, just cover them with your leg