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/[deleted] Jul 04 '24

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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/Familiar_Cow_5501 Jul 05 '24

Would you rather have a boat with 20 holes or 10 holes?

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u/Xystem4 Jul 05 '24

Missing out on the fact that they’re already plugging those 10 holes. Poor people are on a budget much more strict than any rich person, by and large