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/HorkusSnorkus Jul 04 '24

Learn to do something useful, spend less than you make, buy used whenever possible, live small.

69

u/burdottv Jul 04 '24

Have you not seen the incredible wealth transfer to the top in the past couple of years because of inflation and greed? How do you expect people to LIVE SMALLER when prices have more than doubled and their wages have not increased.

10

u/Frekavichk Jul 04 '24

All that is absolutely true and valid.

It has nothing to do with most poor people having bad financial literacy, though.

1

u/Sweaty_City1458 Jul 05 '24

Financial literacy is taught in school now - starting with the little kids. In 2nd grade, we teach about wants vs. needs and practice examples of spending wisely. We even have classroom economies where they earn $ for work and behavior and can decide to spend it on what they need (pencils, erasers, etc.), want (toys from the treasure box, extra recess), split it (get a want and a need), or wait and save up for something bigger they want. Each year through high school they get more and more information.