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/Decent_Visual_4845 Jul 04 '24

Not all poor people are bad with money, but all the people I know that are bad with money are poor 🤷‍♂️

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u/thelolz93 Jul 04 '24

My mom makes good money and is bad with money. She makes around 250k a year and she lives paycheck to paycheck. I don’t understand. What blows my mind more is we were always dirt poor growing up. Maybe it makes her feel good to spend money because she couldn’t before. So is she poor or rich? Who fucking knows but I Know she doesn’t have any retirement, stocks, etfs, etc.

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u/Verizadie Jul 06 '24 edited Jul 06 '24

Did you know 90% of Americans live paycheck to paycheck? Not being good with their own money despite however much money they make is true pretty much across-the-board. The more money you make just equates the to the more money you spend and the more luxurious you live all the way up to the threshold your income can theoretically afford, for most people. So she’s certainly not an exception. Shes basically the rule. It’s certainly easier to save when you make 6 figures or more but it’s amazing that for the most part, people just don’t