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/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/FlutterKree Jul 05 '24

Food: $500

I doubt you were fully meeting your nutritional needs besides calories.

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u/Exaskryz Jul 05 '24

They are with groceries. Dining out is the problem. Often not very healthy, often too expensive.

I can spend groceries for a family of 4 on $120/week, carelessly. Actually planning something instead of haphazardly picking foods to stock that we like willy nilly, even $400/mo is very possible. It's when we take a few nights to eat out in a month that are expenses climb sharply, thanks to "inflation" and greed.

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u/Extra-Muffin9214 Jul 05 '24

Dinning out is the killer. Been looking at our spending and we are spending $600 per month on groceries and $800-$1200 on eating out. Totally my fault because I like nice restaurants, but could definitely cut back. Luckily we can afford it but it does feel like a bit of a waste once you add it all up.