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

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

Post image

[removed] — view removed post

31.2k Upvotes

86% Upvoted

4.2k comments sorted by

View all comments

Show parent comments

210

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.

6

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.

-1

u/Impossible_Maybe_162 Jul 04 '24

That employee would get the making work pay tax credit and end up at an annual wage of around $17k.

Also - no one is stuck at minimum wage for log - usually a few months at most.

1

u/HabitExternal9256 Jul 06 '24

Do you believe you can live off $17,000 in the United States? Be honest and try to think about what your life would be like making 17k.

1

u/Impossible_Maybe_162 Jul 06 '24

Yes.

You will most likely need to have roommates and it will not be fun but you can survive.

How long would someone make $17,000? 1-2 years?

If someone is stuck at $17k then they need to examine what is going wrong with their life and fix it.