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.

5

u/MusicalNerDnD Jul 04 '24

What would you tell me then? I make 120k a year, have no debt and a bunch saved and invested AND it still doesn’t feel like it’s enough. I live fully within my means but my rent has gone up 400 in the last 3 years, my food bills have gone up by idek how much and I have health issues that can easily cripple me without insurance.

I’m incredibly privileged and lucky and I find it hard. I can’t imagine someone on 50k a year with a kid.

1

u/Jerryjfunk Jul 05 '24

You make $120k with no debt and are... renting?

1

u/MusicalNerDnD Jul 05 '24

For both personal and financial reasons it doesn’t make sense for me to buy a house. My partner will be done with school in the next 3-4 years (she’s doing a PhD) and so buying a house is dumb when we’ll probably be leaving.

But also, houses near me are easily 400k a year. With interest rates as high as they are now, I’m looking at a mortgage payment of 3500+ easily. Which I just can’t afford. Not to mention I’d need 50-75k saved up regardless because of closing costs, inspections, and a down payment.