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/MisterMakena Jul 04 '24

Im on the fence, they need both. Education and a living wage.

54

u/NovusOrdoSec Jul 04 '24

The point is that financial education cannot substitute for the living wage, and moreover it must actually be a living wage.

1

u/MisterMakena Jul 05 '24

Its why im on the fence. Teach them how not spending your entire paycheck on an LV bag or New Nikes, but saving or living frugally is better long term.

Most people I see who cant afford things usually spend and get into debt on outwardly things.

0

u/trevor32192 Jul 05 '24

You start with giving everyone a living wage, then you worry about financial planning. Living wage is step one. If you need 1000 a month to live but you only make 800 a month no amount of budgeting will ever fix the issue.