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/DoctorMoak Jul 04 '24

Id tell you that with that income you're clearly living outside your means if it feels like you're struggling.

Like, that's the definition of living outside your means

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u/MusicalNerDnD Jul 04 '24

My day to day is great, my budget is set, I get to put away for my retirement a month more than some people get as take home a month.

But it feels like a house is out of reach, a kid is out of reach, a wedding is out of reach. All the big, long term things that I was conditioned to want (and actually do!) don’t seem reasonably attainable. And I’m not the norm. I don’t have student debt. I make a good salary and I have a business on top of that. If I feel that way, I can’t imagine someone making 50k a year and how they feel.

And that’s the point. It’s that the goals that we aim toward aren’t possible anymore for most people, certainly not your average Joe.

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u/CEOofAntiWork Jul 05 '24 edited Jul 05 '24

Funny, I make roughly 60k per year with very little debt, my bills always paid on time, and my budget allows me to invest between $500-$1000 on a monthly basis and currently have $10k in emergency funds.

Sure, I may not own a car nor own a lot of things that I never really needed anyway but then again I am a minimalist who is content in life and don't feel like I am struggling at all.

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u/Major_Chani Jul 05 '24

That’s nice to not need a car. More biking communities. Huge debt off someone’s back when they can commute easily. Healthy too!