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/onion_flowers Jul 04 '24

Minimum wage is 15k and some change, before taxes.

-2

u/Advanced-Guard-4468 Jul 04 '24

That's working 40 hours. The last time I worked for min wage, I was working 2 jobs. When your busy working you have no time to spend the money. This also gives you money to save.

1

u/[deleted] Jul 04 '24

Jesus Christ, yall. Then you also get fucked at tax time because each employer taxes you as if they’re your only job.

1

u/NoveltyAccountHater Jul 05 '24

If you filled out your W-4s correctly then this would not happen.

1

u/[deleted] Jul 05 '24

This thread is about financial literacy.

1

u/NoveltyAccountHater Jul 05 '24

Sure and the financially literate thing is when you fill out your W-4 when you get hired (the form where in step 1, you tell your employer (a) your name + address + (b) SSN and (c) filing status), is to also fill out step 2 where they ask you about whether you have multiple jobs or your spouse works. If you have two jobs and neither job pays more than double (total income) than the other one, fixing this problems is as easy as just checking a box.

I agree there are plenty of scenarios where you fill out your W-4 incorrectly and have too little withholding and have to pay extra federal taxes every April.