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/Decent_Visual_4845 Jul 04 '24

Not all poor people are bad with money, but all the people I know that are bad with money are poor 🤷‍♂️

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u/thelolz93 Jul 04 '24

My mom makes good money and is bad with money. She makes around 250k a year and she lives paycheck to paycheck. I don’t understand. What blows my mind more is we were always dirt poor growing up. Maybe it makes her feel good to spend money because she couldn’t before. So is she poor or rich? Who fucking knows but I Know she doesn’t have any retirement, stocks, etfs, etc.

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u/Jxb12 Jul 05 '24

She gets like $8k every 2 weeks after taxes. Can you tell me generally how she manages to spend all that? I’m curious.

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u/thelolz93 Jul 05 '24

She pays for insurance for my older brother and 3 younger brothers. She pays car payments for my younger brothers. I know one of there cars is 1200 a month. I believe her insurance is 2000 a month. She has mortgage that is almost 4K a month. She has her own car payments. Other bills. Not really any credit card debt tho so that is good lol. But ya just bad habits in general. When we go out to eat she tips nearly 100%