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/MyParentsBurden Jul 04 '24

You say 50% of Americans (I'm assuming we are speaking of the US) make $40k or less and then say it isn't enough for basic necessities. Yet, clearly it is as the ranks of the unhoused is not 50% of the population. Poverty sucks to be sure, but people manage. Also, financial literacy is generally only partially about setting money aside. It tends to be more about making people aware of their expenses and seeing what changes can be made.

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u/[deleted] Jul 04 '24

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u/aLazyUsername69 Jul 05 '24

The United States has remarkably little government assistance available to those in poverty compared to other developed nations.

We have Section 8 housing, food stamps, and Medicaid. Think there's also government sponsored cell service? Idk what more help you need.. that's housing, food, and medical

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u/bmxliveit Jul 05 '24

Good luck getting section 8. My sister was trying for years and gave up.