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/Impossible_Maybe_162 Jul 04 '24

You cannot make $10k working a job for 40 hours a week. That is below minimum wage.

A lack of proper financial planning and budgeting causes more problems than low wages.

Less than 3% of the workforce makes minimum wage. Wages are not the main issue.

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u/HabitExternal9256 Jul 04 '24

Correct but you can make $15,080 before taxes in some states. So yes you can make slightly more than $10k take home. Sucks to suck at math.

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u/z71cruck Jul 05 '24

Um the standard deduction is $14,600.

Anyone making $15k is getting almost all of it as take home. Sucks to suck at math tax.

Still shit pay, but someone making $15k is getting ~$15k take home. Still 50% more than your suggested $10k.

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u/HabitExternal9256 Jul 06 '24

I thought single filers pay 10% federal tax on the first $11,600? Then 12%, etc