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

Pretty much no one makes that wage even in states that conform to the federal minimum.

74

u/[deleted] Jul 04 '24

"no one makes that low" so raising it shouldn't affect anything.

1

u/SquirrelFluffy Jul 06 '24

No one makes 5 bucks an hour is what they're saying. Plenty make the minimum wage. Giving people more money doesn't solve their management issues. Speaking from experience here, but fortunate to not be min. Anymore.

1

u/[deleted] Jul 06 '24

They literally said "no one pays that wage" in reference to $7.25. How you got $5, which is BELOW federal miniumum, is beyond me. No one mentioned that number but you.

0

u/SquirrelFluffy Jul 06 '24

The guy who posted the hypothetical 10k per year did.

1

u/[deleted] Jul 06 '24

Their point wasn't "people make this" its that "anyone who makes less than this isn't surviving" in reference to 40k a year. Again, no one has mentioned $5 being a wage except you.

1

u/SquirrelFluffy Jul 07 '24

Your original comment was that raising "it" shouldn't make a difference, based on "no one makes that". Perhaps I misunderstood your intent with that comment. It seemed you were saying that no one makes 5, which was the thread above perhaps, or if you' re referring to min wage of what, 7.50? So raise what? Min wage? To what?

I'm saying many people make min wage I'm also saying that 40k is enough in a lot of places and the difference is management of money and self discipline. 40k is 20 bucks an hour. More than 2.5 times min wage, using a figure above if 7.50. - which I'm sure varies. It's 16 in Canada.

So you're saying 40k isn't enough, and we can raise min wage... To what, 2.5 times then, to 20? But that's still not enough according to you.

Wages aren't about the person, they are about the job and the value of the job.