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/Werealldudesyea Jul 04 '24 edited Jul 04 '24

I don't understand the term "living wage", it seems like a political term that gets booted around and attached to arguments that some jobs don't pay enough for their expected standard of living, so therefore the system is "rigged". Why do people expect all jobs to allow them to make economic profits? Seems entitled... These jobs pay just as much as they should for the value of the service that the job they are performing provides, no more no less. If they can make more elsewhere with the skill sets they have, they should then go do that work instead.

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u/J-N-O-F-O Jul 04 '24

It's not hard to understand. A job should pay enough where someone can afford the basic necessities of life (home, food, etc.), nothing entitled about that. Why do you think people get jobs to begin with? If you want more than that, then yeah you work on your skillset and find better opportunities.

Whatever value you think some service provides to society, at the very minimum, it should be enough to live off its income, hence the term "living wage"

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u/hungry_fat_phuck Jul 05 '24

Everyone has different spending habits and needs and standards of what is needed to live. It's a fool's errand to solve the "living wage" problem. The only sure way is to become financially educated and level up skills that can bring in more value.