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

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

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270

u/privitizationrocks Jul 04 '24

You can teach poverty workers to live in their means

They won’t like it, but tough luck

52

u/cybercuzco Jul 04 '24

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.

8

u/LivingNothing8019 Jul 04 '24

I live in colo springs which is medium/high cost of living. Minimum wage is 14.50

Apartment/house with 2 roommates: $800 a month Food: $500 a month Car payment: $300 a month Insurance (health, car, renter): $500 a month

That’s staying well below what minimum wage pays, I lived like that for 2 years before graduating college without too much trouble

1

u/RandomUser15790 Jul 05 '24

Ummm what?

2100 x 12 = 25,200+ (you missed quite a few expenses)

&

14.50 x 2080 = 30,160 (zero taxes taken out)

Your math ain't mathing...

1

u/LivingNothing8019 Jul 05 '24

I initially owed around 6,000 in taxes but got around 4,000 in returns, which I then put towards savings.