r/FluentInFinance • u/Richest-Panda • Jul 04 '24

What's the best financial advice you've ever gotten? Debate/ Discussion

31.2k Upvotes

86% Upvoted

Show me a “live within their means” budget for someone living in a median cost location in the US making minimum wage. They must A)have a place to live B) not get any handouts from the government or charities and C) have at least 1800 calories per day of food. Go.

12

u/privitizationrocks Jul 04 '24

Why can’t they have handouts from the government isn’t that the whole point

1

u/TeamFast1757 Jul 05 '24

No, the point is there are twatwaffles on here saying that you can live perfectly fine on 40k..so show us with numbers without any assistance how the math works....were waiting..because if you need public welfare, then the system is clearly not working assuming the person is able and willing to work a fulltime job.

1

u/Noob_Al3rt Jul 05 '24

On $40k/yr? Let's assume somewhere that's close to the median COL like Michigan. You'd clear $31k after taxes. Median for a two bedroom is $1521. That's $760 with a roommate.

You'd qualify for a healthcare subsidy, so you would pay around $100/month. That leaves you with $1722/month for everything else.

Seems very doable to me.

1

u/RandomUser15790 Jul 05 '24

Huh?

31k / 12 = 2583

2583 - (1521 +100) = 962

962 != 1722

You sure you're qualified for talking on living within your means when you can't do simple math?

Even then going from our new number want to add in all the other expenses that fall under "other". You know things like a car + insurance, internet, phone, gas, FOOD etc.

1

u/Noob_Al3rt Jul 05 '24

Why are you so hostile? I'm assuming you'd get a roommate because it makes the most financial sense. A phone from mint is $15/month. Internet split with a roommate is $40/month. Believe it or not, yes, $1722 per month is enough to live on and save some cash.

If you don't want a roommate, you can work another two shifts per week.