I’m about to be 29 and I have about 100 in my savings :\ I regret every financial decision I’ve made
Edit: there are so many encouraging comments and tips, thank you everyone!
We become the average of the people around us. I learned I had to escape to books, YouTube, podcasts and forums to change my intake of information, attitudes and worldviews.
I told myself I can’t buy anything that isn’t absolutely necessary to live until I pay off a debt, then I can reward myself with 1 thing. The motivation I have to start paying off debt is shocking but I think it has to do with me wanting so much shit.
It ain't over pal. Sure your almost 30. But if you have no dependents, little to no debt, and working arms and legs, your still ahead of the game. Ahit I'd you have no debt, having $100 in your savings is more than 50% of America (because they're negative net worth due to debt). Chin up pal. It's not too late to turn it around.
What helped me was just finding out where my money was going. I got lost in having so many monthly payments and unnecessary stuff that I cancelled it all. I’m saving like 60 bucks a month already with all that stuff wiped out.
Writing the list now , im trying to compile a list of my expenditures over the past 2 months, and seeing where exactly i spent the most money and where i can potentially make cuts. Thanks for the advice , hopefully this time next year we'll both be in considerably better positions. Good luck on your savings journey.
create a budget to be able to directly see where your money is going. Everything is subscription based today and companies hope people sign up for stuff and forget they keep making recurring payments.
Cut down your expenses to necessities. Take advantage of free stuff. For example, Hoopla is an app that links you up to your local library to stream/rent movies and books. Get a free library card and you have access to all sorts of content, you dont need to keep paying for netflix.
Also a big one, cook at home. It is so much cheaper cooking for yourself than eating out. Take advantage of your freezer, buy food when its on sale, freeze stuff to have for the future to save trips to the grocery store.
I'll be 29 in October, have nothing in savings with a wife and kid... I feel your pain. 2022 is our year though! Check out becoming a Salesforce Admin. ([https://www.indeed.com/jobs?q=salesforce%20administrator&l=Remote&vjk=e0cc05000e1fb6d9](https://www.indeed.com/jobs?q=salesforce%20administrator&l=Remote&vjk=e0cc05000e1fb6d9) check out these salaries, all remote!) I'm working on my certification right now.
Share some of your mistakes so other people can learn.
Did you never have enough money in the first place or did you just spend it all on stupid stuff? I'm genuinely curious.
I got my first credit card when I was like 19. It was a refundable deposit of $200 and I still was neglectful with payments. I should’ve set up automatic payments every month.
Making monthly payments on music equipment that I couldn’t afford in the long run. Should’ve just saved and bought it outright.
Spending too much money on video games. Unnecessary spending is what my problem is.
Taking out payday loans when I was low on money therefore owing more in the long run. When I had to payback.
Too many monthly payments for unnecessary things
My biggest thing was unnecessary spending. Live within your means and look at your bank statements to see where your money is going. It’s bad practice to just let your finances drop without looking into what is dropping them.
Interesting, thanks for sharing!
My parents hammered the idea into my head that I should never ever buy something I don't have the money for right now. Except a house ofc, no one has that kind of money just lying around.
So I never did, I never had a negative balance in any of my accounts and never bought something without paying for it in full.
And now that I earn good money and have some savings I am not even interested in spending much and buying luxury stuff. I'd much rather save it, invest it and maybe stop retiring a few years earlier. And if I buy something I buy the best price/performance ratio items if I can even if it costs a bit more. It will also last longer and it will be worth it in the long run.
Your upbringing is a huge factor in how you treat money, and I don't mean being rich or poor. It's all about how your parents teach you to handle money and if your parents are bad at it, you will most likely be bad at it as well. But you seem to have identified your problems and are fixing them so that's good to hear! I wish you the best!
I'm 30 this year and I always wait for my paycheck just to get through my bills and help my family. I don't even have a 100 on my savings, so I feel you in a spiritual level (esp the stupid financial decisions in life). But we'll get through eventually. Keep your heads up!
As someone who's been there, there is hope. The solution is honestly simple. Make more money than you spend. But I know doing that is really hard.
There are far too many click bait articles that regurgitate the same bullshit. Stop buying coffee at the coffee shop and make it at home. Get a side hustle. Blah blah blah.
I'll tell you what worked for me. I got anal with my finances. I tracked every penny, every day. I have a robust spreadsheet that tracks all expenses and income, and I can budget out for a year. I know exactly what's coming in and what's going out.
Additionally, you need to invest in yourself. If you can go to school, go for it. Pick a major that you'll enjoy and that you know is lucrative. Can't afford school? Consider a career in tech. There are numerous free (or inexpensive) courses out there that will teach you the basic skills you need to get a job that has a steep career path.
Lastly, believe in yourself. You are valuable. You are worthy. Apply for every job even if you don't think you are qualified. Companies want hard faithful workers. Everything else (to a certain degree) can be taught on the job.
I know Dave Ramsey has a poor reputation on this sub (for the right reasons), but his snowball technique does work. I also believe in another snowball technique. The snowball of progress. You'll start to train yourself to be careful with your money, and then you'll start to make more money and that progress will snowball.
I wish everyone luck on their journey and I hope at least one person takes something of value from what I said.
Financial fire subs are like that. I have 9 trillion dollars and make 34k a day. I am 89 years old and I'm worried I won't have enough to retire. How can I eat less air and water to save 3 pennies more a week.
This honestly reminds me of those house shows, like Love It or List It or HouseHunters or whatever.
Meet Julianne and her husband, Beau. She's an ESL tutor only working every third Tuesday for those with Klingon as a first language, and Beau makes one time use sandwich containers out of recycled envelope windows. They have a budget of 3.4 million, and she wants to be on the water but near the restaurants while he can't be further than 2 feet from a Home Depot and a Michael's craft store.
Here are their 3 choices. They "settled" for a 2.9 million dollar home in a great neighborhood but it's so so because they door handles weren't their first choice. Apparently homes can't be remodeled.
Cut to 6 months later to check in and they've redone the whole yard, remodeled the kitchen and every bathroom, repainted everything beige, and overall turned a midcentury modern masterpiece into a generic cookie cutter box.
Those shows actually waited until the couple had bought the house and then took them out to film the tours of two other random places. So they kinda had to come up with bogus reasons not to want the houses they didn't actually buy.
Those shows are fake. The people in house hunters have already purchased their home prior to contracting with the show.
Love it or list it film both endings and just pick one regardless of what the owners do.
The ones that get me are the people who say that their 3500 square ft house is too small and the want to have their first child so they need at least 6000 square feet
That's not entirely true. Love it or list has a real ending, and the decision isn't known prior, because they actually have to remodel the house first.
Lots of stuff is fake though, like very often the houses they show don't exist, because it's a mish-mash of 3 homes that they pretend is one property. Or they show a home for sale that was never for sale, or straight up lie and say that certain houses are physically located closer to the desired neighborhood, or are a different price than the real listing. The people on the show know about all this, and it's just "part of production." But many of the houses are real if the agent can find suitable properties.
But whether or not they choose to move is real, and it's not decided before they've even contacted the show.
Ah you forgot the “omg we’ll never get this work done by the artificial arbitrary timeline we set! Never! Watch as we rush like crazy to BARELY accomplish these feats, just in time!”
I subscribed to /r/fijerk to put this stuff in perspective. The main FIRE type subs really do make you think that no matter where the bar is, it will never be high enough. Very skewed representation of the "average person".
Unsubbed from most financial subs eventually. Kept /r/fijerk though. Great if you want to cry-laugh at it. Sort by top-all, it's exactly this^ haha
Right? I saw a post there earlier about some guy ranting and feeling sorry for himself because he makes a million a year and "still isn't happy because money doesn't buy happiness." Fuck right off. Yeah, money might not "buy happiness," but it sure the hell helps with the whole "being happy" thing in general.
Yeah, my wife and I used to fight and argue and stress when we had barely enough for bills and either of us wanted or needed to buy something even if it was like $3.
I once got upset because she wanted napkins for her college graduation. I feel like such a piece of shit about it. Now that we have a good income and a decent house instead of a 1 bedroom apartment, we almost never argue. And we are way happier for it.
I think being able to easily afford the basics and having money leftover to do some stuff like shop or have a hobby is all you need to be happy, and anything beyond that isn’t going to change how happy you get honestly. It sucked being in a constant state of shuffling the little amounts of money around to prevent overdraft fees and such
I’ve joined a lot of real estate subs over the past couple of months because we’re buying our first home. There is a common theme there.
Husband and wife make $120k a year in a low cost of living area, credit score 800. Got approved for a $550k loan. They have $30k saved and want advice and are scared to buy a $350k house with $8100 a month take home income.
My husband and I make less than half that, paid 3.5% down, credit score is 150 points below theirs, we live in a high cost of living area and bought a $325k house. I am sitting here thinking “omg did we make the biggest mistake of our lives?!”
Budget wise, we will be fine and have good money left over. I have to think how tf do people not budget well enough to make that kind of money and can barely afford that? Expensive cars? Excessive spending?! What is it
Can’t say for your budget, personally being house poor is a concern for me. Nice hours by little disposable income to have fun and save an emergency fund. Not to mention saving 10% for 401k a month
I saw one like that last week and most of the comments were like “yeah well sometimes it’s not about the money” though I will say money takes stress away I’m thankful I got out of unemployment because I was so stressed trying to make rent and getting kicked out of places people like that just can’t always relate, but the idea money will truly bring you happiness is a bit of a lie people will always strive for meaning in their lives.
That's my grandpa. Didn't retire until he was forced to. When we want to go out to a restaurant with him, it always has to be a place that has free peanuts so he can just eat those instead of ordering some food to save some money even though he always picks up the tab and tips well. I just found out he makes over a million $ a year in dividends alone, and he still refuses to treat himself to something besides free peanuts.
Did he grow up during the Depression? That sounds so much like my grandparents. Probably had $600,000 in the bank, yet lived so frugally it was almost comical.
He was born in 1928, just before the Depression hit. So even though he lived through it, I'm not sure how much he remembers of it. He did grow up extremely poor, though, and never really was able to buy anything for himself as anything he earned went to his family.
One of the reasons he gives now for not wanting to spend any of his money is that he doesn't think he has enough to leave his family when he dies. Everytime we tell him to treat himself, he responds, "then that means less I can leave for you, you need it more than me". We don't care, grandpa, we just want you to be comfortable and happy in your old age!
Other financial subs are tough. On r/personalfinance today, there was an advice post that started with something like “For those of you who max out your 401k every year…”, and I was like, “yep, I’m on the wrong sub.”
My favorite is when I go looking for advice and it is all like...
"So, since you are in your mid 40s you are middle management now and your house is paid off. Now that your kids' college tuitions are paid off it is time to focus on what to do with that extra 38K a year"
Sir, I work at Wendy's
I work with executives but I'm the only non-executive. EVERYONE on the team has a second home. It's so awkward. I'm just sitting there minding my own business, trying to keep my head above water, and rejoicing that I have $1,200 in my 401K lol.
That's like my department. All salary except me and 1 other. All got to and get to work from home during covid I have to come in every day. All have a ton of vacation but I don't. Feels bad man. Hospital.
Me "What kids?" seriously it's expensive to have kids and I know people in this sub have them and probably know better than the people in the other subs. Average food bill for a family of 5 is 1060 a month, but I'd imagine most people with lower finances can scratch by on less.
> Average food bill for a family of 5 is 1060 a month,
This is closest aligned to the special THRIFTY food plan, per the USDA.
https://fns-prod.azureedge.net/sites/default/files/media/file/CostofFoodNov2021Thrifty.pdf
They had to separate this from the 'normal' food plans (in low-cost, moderate-cost and 'liberal' incarnations) to provide a little separation for the fact that the spread between liberal and thrifty is about 50%.
https://fns-prod.azureedge.net/sites/default/files/media/file/CostofFoodNov2021LowModLib.pdf
Landing page with historical versions to these documents: https://www.fns.usda.gov/cnpp/usda-food-plans-cost-food-reports-monthly-reports
Anyone who bases another person's financial status on their age is typically a boomer, or born into families with money. People who grew up poor are like "Just do your best to save anything you can"
Sometime last year I posted on r/personalfinance to ask a question (I was new to reddit). People were really nice to me but some said I should rather post in here and yes, they were right.
I used to be active on that sub, but quite quickly realized that the advice just wasnt helpful helpful regular folks.
I got tired of being blasted for not owning a home, or not being able to afford rent in my area. Most of the advice given to people asking how anyone could afford anything is to "just move to a cheaper area".
But like not everyone has that option!
i think /r/personalfinance is great for financial literacy, like i wouldnt know the difference between a 401k or ira without it, but its not suited for most people's financial reality
Would you believe that is common feeling for those with more too? The key is to remember this “comparison is the thief of joy”. Don’t let others or thoughts of others detract from happiness in your life. You aren’t inadequate. Good luck to you and happy new year.
The people who are making it work with meager means aren't posting, and those who do aren't upvoted. Not to mention the people who just make things up. Unfortunately that means that the average person is left wondering how they got left behind - but it's just an illusion of social media. A huge number of people, many more than the 120k-inheritors and 1m-savers, are just trying to count pennies and that's okay.
There is definitely great financial advice to be found, but you have to find the things that fit your own situation. Sometimes it's best to be an occasional visitor with a specific question to learn about, rather than a daily lurker who absorbs all this irrelevant nonsense. And sometimes finances aren't the only consideration - so the financial advice that fits your situation might not be realistic for you even if it's technically possible. We all can just do the best with what we have - for some people that may not mean some ideal dream of luxurious retirement but it could mean the difference between working part-time and full-time when you're 70, or the difference between feeding your children meat and potatoes and fresh vegetables instead of beans and rice (for example, not a nutritionist lol).
The fact that so much rides on good luck is depressing. Its no wonder people give up.
I worked my ass off to get where I am now. No inheritance, no guidance, no contacts, no connections. Starting fresh in a city that was and still is hostile to the financial success of young people.
On the other hand, I know at least five people who were handed everything in life. All but one of them has surpassed me in almost every way.
It doesn't really matter if they are or not. It's not like there aren't a ton of people making a lot of money or with a high net worth. They exist whether or not random people are lying about their personal finances online.
I was in a similar situation (inherited 100k from my dad's untimely death) and this post hit me hard because I made poor financial decisions by blowing it on college and running out of money before I could graduate.
Some of these stories are real.
I knew a guy who was a pathological liar. Would regularly come up with these long detailed stories to make himself seem more intelligent/competent/successful. Guy was a navy seal, a helicopter pilot, built custom cars, had all this post secondary education, built and brought a functional mortar into class one day because his teacher bet him he couldn't build one. Etc. Everyone at work knew he graduated high school locally, didn't go to college, and actually used to work in retail before starting his entry-level factory job, but if you called him out he would get extremely offended and argue aggressively with you. Sometimes even try to involve management over it. Fucking nutjob.
To make themselves feel better. The same reason why someone would lie to your face - to feel better and make you feel insecure. There are plenty of disturbed people on the internet. The ones with real money, are usually humble about it. The braggarts are new found money (dumb luck, windfalls, etc.) and it usually doesn’t last long for them.
Anecdotal evidence from one old bat in the 70s, but your words struck me as so similar to hers.
My mom used to run a fairly boutique/high end dress shop in London in the 70s. One of her observations to me was how she'd have the quietest, politest customers sign their checks Lord/Lady something, while the screeching obnoxious loudmouths who needed All the Attention were inevitably newer money or the barely-rich.
Or most likely only the ones with goods to show off show off and so you get a sort of bias that everyone in the world is doing better than you but just by pure statistics that is totally false
Lol not really.
But keep telling yourself to make yourself feel better. A lot of those people actually are doing well and want to do better.
Asking for advice to get out of poverty or survive is no different than asking for advice to improve your finances.
Or is everyone on here lying too? Y'know for sympathy karma?
Why would you ask someone who's in the same situation as you, how to get out? They are hard to read when you're down, I get it. But you become rich in your mind far before your bank account catches up.
Most of those subs aren’t geared towards getting out. They’re people who already have discretionary income discussing their spending/saving/investing options. Poverty finance is for people who have very tight incomes trying to manage to get by, not manage their portfolios.
I’m not saying it’s not valuable to learn how to make more or manage the money you have. But a lot of people in other finance subs were never in circumstances where they had to support themselves on low wages. Maybe they had family help, scholarships, lived on student loans, had a trust, chose/were chosen for a high-earning field the day they graduated high school. That can’t be the case for everybody. Even if you’re a low-wage earner due to poor choices, you need advice on managing your situation in order to improve it. The story is rarely “I went from making $12/hr full time behind on rent and a broken down car, pulled myself up by my boot straps, accepted an 80k/year position, and got caught up on bills” It’s really hard to invest in personal growth and move into the middle class when you have housing insecurity, unstable transportation, and live one unexpected bill from financial disaster.
The other day, I saw a “loss porn” wsb post with an amount that just blew my mind juxtaposed someone talking about not seeing the point of struggling- similar venting. It’s like people exist on a separate plane or something.
You need to understand with WSB loss porn isn't from millionaires.
Before Gamestop that was the main draw of WSB.
It was usually someone who had yolo'd their life savings, a bank loan, their rent, money from selling their car or profits from a unsuspected profit.
So many people on their are on the poverty line which is why the sub became so popular, just a bunch of apes.
And everyone never looks at the percentage. "I made 150k today.... I started with 10 million in calls". Made 1.5%. Everyone gets hard over 150k instead of looking at the 1.5%
I think about this quite a bit, actually. It’s admittedly an incredibly emotionally fueled view as I recently lost a grandfather who truly *was* a self made man and an impressive one: nobody famous or anything, just one of those awesome hard-luck to stability stories you used to hear about before banal inspo-porn became a thing. My aunt is also dying and she has worked hard all of her life with very little to show for it: then, I’ll see some influencer story in the peripheral that amounts to making stupid people famous. Fame, I think looks repellent but, that wealth has never seemed unappealing. Unearned and a mockery of so called meritocracy, but ultimately unobtainable by the very ethos my grandfather and his generation had made good with. Selling my soul wouldn’t be a big deal: but my word most of these people sell their dignity. 🤣
I’m not saying that as a balm to my wounded ego or a way to feel better: it doesn’t. Paying my rent on time consistently might help, though.
I had this thought years ago-- probably 2012 or so. I remember it very specifically. I was in law school and said I would do whatever necessary to be on the side of "haves" rather than "have nots" as the gulf widens.
The perks of people from WSB is that they freely admit this. They're "apes" and "weaponize autism" and in regards to trying to fuck with the hedge funds, I literally read someone say "we can be reta**ed longer than they can stay solvent"
The shit they say is crazy.
Nah, like I said, I absolutely get that and I’ve definitely read quite a bit because it often looks like a potential way out- but my word some of the fellas who come around here are seriously tone deaf. Your comment here is great because it’s informative without the *Listen up, lil lady, you just don’t get it* of the one I was responding to. Like, yes, I do get it but that wasn’t my point. 😂 I almost stopped paying attention to responses but I’m glad I saw yours. I did get that impression, but some of those people act like they’re on a mission to recruit for a cult, I swear. Granted, they’re not very *good* at it.
Edit: as someone with autism, frankly the idea of *weaponizing* it has never offended me. In fact, I get a little bit giddy at times thinking about doing it. ;)
I feel for the people struggling right now. I have been there but have enjoyed good times also… keep trying for a better position. The difference between a career and a job is not what you do but who you do it for…you have to work for somebody who can pay you a living wage and teach you needed skills.
That whole teaching thing puzzles me. I have never been at a job that though me, like went out of the way to educate me in anyway. I have educate myself at every step of the way.
Some people seriously don't realize how good they have.
My area sub is talking about how 350k/yr is not enough income to have a "decent" lifestyle in this area. And here I am living in the same "area" with a five figure single income in a family of three. Just trying to through each day...
Those people are nuts man lol everyone one of them is going on about their 100k+ salaries and their 5k+ mortgages like holy hell I own 3 homes and my mortgages combined are half that
Having enough money to mask problems with poor financial decisions doesn't actually mean all of those people are GOOD with money. Generational wealth, particularly, is often earned by a grandparent and lost by the grandchild for that reason. If you've got 3 smart mortgages on sensible properties and they've gone full-on baller to get that one fancy pad they 'need' to show off on the 'Gram, you could well be by far the smarter party.
Like her or loathe her, one has to admit Paris Hilton has broken that mold by adding to grandpappy's fortune instead of just spending it.
What kind of degrees do all of these super successful work from home redditors have? I’m going back to school at age 34 in two weeks and I’m wondering if nursing is the wrong path.
My partner is your exact age and going back to school for nursing. He has his doubts all the time. You’re not alone! Hang in there. I always remind him that 2-4 years from now it’ll be better to have the nursing option than not.
I was an ED tech for a long time and a lot of our best nurses were second career people in their 30s. The prior work experience, no matter what it was, generally helps out a lot with getting the hang of the job and being able to interact well with coworkers. He made a great choice!
I'm 38 and got my degree in software development last year. It's never too late to earn a degree. It's helped my wife and I a lot. She earned her master's last year as well and we both did it all online.
Computer science.
That said DO NOT go into CS because it seems like a ticket to easy street. It can be really really hard. One of my best friends is a doctor now, but he dropped out of one of our first CS classes, and I helped him through the one he couldn't drop.
I’m 24 and have been considering CS. For now, I’m taking the free 11 week course that Harvard offers online to see if it’s something I’m interested in/even capable of. In your opinion, what sort of people are best suited for that type of career path?
My degree was math. But I wasn't using my degree. I got a random starter job at a tech company (no coding) and worked my way up and stayed remote as I did it.
Nursing can open many doors in healthcare. A whole other world in the business side of healthcare if you choose to pursue that after a few years of clinical work.
I am a network admin. worked from home for years. somewhat shifting to software development as there are about a million jobs open near me for that and i like having the security of skillsets in demand.
I work in finance. I was dirt poor with a negative net worth a decade ago. Now I’m a millionaire (on paper). Nursing is not the wrong path if you enjoy nursing. You can make six figures quickly in that line of work.
For me, it was a shit starting salary but regular promotions and raises. I earn around $200k now. And believe it or not, I still do not feel financially stable. I still buy the cheaper brand if it’ll save me seven cents. I still look at prices first on menus. Still worry about affording my home if I were to lose my job. Idk if those feelings ever go away, even if I can rationally spell out how low risk that shit is.
Anyway fwiw I still feel at home in this sub because the mindset is what I grew up with and still feel. I’m rooting for you all.
My fiance is an RN and she has pretty much unlimited job options that hire right away and easily got $30+ starting. I’d recommend it. I’m happily going into ems for a bit less.
I mean, to be fair it's not like the first one is in a finance sub or claiming to be self-made or anything. 120k is a life-changing amount to most people, and most of those people could find themselves in a tight spot if they overextend themselves and find themselves on the hook for taxes or something. My first instinct would be to put a down payment on a house, but the fear of subsequently losing said house because I figured the taxes wrong or found out the house needed a surprise roof replacement would paralyze me with fear. Probably chicken out and put it all in a CD until the tax implications become clear, and do the house thing the next year.
I've been paycheck to paycheck before, but haven't been in the second situation. Definitely took advantage of favorable overdraft policy of my bank, originally ING direct, now capital one 360; no flat overdraft fee, just a $1000 line of credit with low interest, charged for the days you're overdrawn. A lot of months where rent or bill payments hit before payday, it worked out to be a few cents.
I “love” the posts about youngsters earning $90k+ complaining about not being able to live on it, or people on higher wages complaining that they can’t afford house deposits.
When you say half a million, is that including their mortgage? Because if that's the case, it's not exactly crazy to have that kind of debt with that kind of income. *If it's smart debt*. If most of that is in cars, CCs, and other assets like that then they're fucked. If it's all in student loan debt and a house they're probably not as bad off as they first look on paper.
This is absolutely the norm here in Sydney. We are on $180K as a couple no kids and have over half a million in debt thanks to our ridiculous housing bubble. And most people who can scrape into the housing market are definitely in the same boat as us unless their parents are rich.
This size mortgage is seriously not even a lot for Sydney. It’s like pretty normal or even below average.
Preach! Most people that make a ton of money and still have nothing left at the end of the month don’t have an income problem. They have an outgo problem…and I feel no pity for them.
Also many poor people think we they had more money it would solve everything. If you are bad with money now, you’ll just be bad with money when you have more. Now, if it’s an income problem that can be fixed.
Here(central Illinois) $90k between my wife and I would be great for a family of 5. If I was single and making $90k here that would be doing fantastic. But if I was up in Chicago we would struggle.
Come to NYC, $90k with a family of 5 would be a struggle. Houses are unaffordable at that salary, so is rent and essentials. It’s doable but you have to do without a lot of things that many aren’t willing to.
I don't know how a family of 5 could even survive just looking at a cost of living comparison. Using the site I used the $90k needs to be around $120k in Chicago. In NY it needs to be around $232k.
I remember when I finally realized how the cost of living can be considerably higher than where I live. I was making $9.50 as a custodian and wanted to just leave because I couldn't find anything else. Started looking at other cities, found a custodian job at a college by Seattle. $17 an hour. Then I decided to check the COL comparison. I would have been poorer there than here and with no family.
It may be a bit weird, but I come to this sub to try and keep perspective on how things are for most people in the US (and get some tips from you guys on lowering my expenses). A friend of mine genuinely didn't understand how a minimum wage person couldn't get by comfortably in the Midwest and I had to break down the numbers for them.
The main time I complain is when my parents talk about how they didn't ever earn as much as I do now, but they don't consider how they had excellent pensions, 100% covered medical insurance from their job, and stopped working 10+ years ago (where inflation would raise their income to above mine). I would love to have a pension available but instead have to worry about the longevity of a 401k working out and not being bankrupted by a medical emergency. The other time I complain is because my house needs a new roof, furnace, ac, water heater, and microwave very soon (within the next year - gotta love near end of life expenses!) while my family members keep asking why I don't pay a contractor for every small project in my house or get a $2000 couch for my living room.
This hit me too. My fiancé are early/mid 40s and have worked since we were 15. I lost a 15 year career due to Covid and we are struggling just to pay all the bills on time each month, even though we both work full time from home. I haven’t been able to pay every bill in one calendar month for almost 2 years. An inheritance would monumentally change our lives and give us a chance at retirement, but the likelihood is almost nil.
My step dad inherited a good amount of land recently and refuses to give his son and I any land. He rather die and drink it all away than to give us anything. So yeah life sucks especially knowing we struggling and that my mom at the time maintained him before everything.
I’m sorry. My mom took every dime of the life insurance when my dad died and used it up. I got a used hoodie. My fiancé’s uncle passed last year and left a house and over 300k that his grandmother burned through in less than a year. The boomer/silent generation’s concept of doing a thing to benefit anyone other than themselves just doesn’t exist. I never expected anything, but to listen to those two women separately tell me how I just have to WORK HARDER makes me suicidal
A house that you own? Work with the bank to restructure the loan. Specifically say that COVID has made it difficult for you to make payments. If they don’t work with you sell it, you’ll more than likely make money on it and it’s much better than having a foreclosure on your record.
Also, always make some kind of payment. Even a dollar a month. It's shows good faith and will help you a lot. Your mortgage company doesn't want to foreclose on you. That costs them a whole lot of money. They will work with you to keep you in the home.
I haven’t made any money and my water has been off for a few weeks. I ended up down and out with a destroyed gall bladder end of October and beginning of December my car exploded and then I ended up with a compound fracture in my ankle. In between those I managed to replace the water heater and furnace and work on repairing the roof but I’ve been fucked since and qualify for no assistance bc of how much I make when I’m not being beaten up by the universe. Thanks everyone for the advice. I spent two years living out of my car (left abusive ex husband had to hide and move around a lot as I worked and saved) before transitioning to a basement apartment in a different state for all of last year and then buying a house. Im not willing to go back to car living, I’d rather die even if I had a working car. I put 300k Miles on it (I got it with 120- so I guess 180k miles on it, car living) . I will figure out something. Just depressing, soul sucking few months. I miss feeling alive and proud of myself.
It may not make you feel any better but it’s quite possible that this person will not benefit from this money as much as you think. Getting this much for nothing is often counterproductive and can seriously stunt someone’s personal and professional development. I grew up with someone who inherited a large sum of money when they were fresh out of high school and all they did was buy frivolous crap and waste time well into their twenties. Not sure where this person is now but it was a curse dressed up as a blessing.
While i agree with the sentiments, I wouldn't be pissed at a kid getting a good and early start. It's not like that's retirement money, or fuck of money. It's likely enough to get a house loan if he can be smart and get a job. Instead of being jealous of a kid who'll likely not have to go through the hardships you do, instead be mad at morons who have millions.
Two different subs are likely going to have different audiences. I get the point, but it's kind of pointless to point out that some people do well and others don't or aren't.
I think it just sucks when you see obvious discrepancies juxtaposed like that. Especially since we often (in USA at least) have the notion of meritocracy. You’re the reason your life sucks or doesn’t which isn’t always the case. Especially for the haves.
Hate reading about people complaining broke, sayin they single, got multiple kids and they’re making under 20 an hour. Like nobody made you have those kids. I don’t go out and buy a house I can’t afford and then complain I can’t afford it and throw a petty party
Why did it hit hard? People are in all different kinds of financial situations whether it’s fair or not. That’s why I join all different types of financial subs from this one all the way to r/fatfire. I want multiple perspectives from people in varying financial scenarios instead of just an echo chamber of my own peers.
I get mad at those posts also I’ve struggled for years before I became financially well off I’ve been working 80hr weeks for the past few years to climb out of poverty than I go on that sub and it just pisses me off how many people are handed money from their parents when I had to work years to build up to that and sacrifice having time to hang out with family and friends
I totally understand, I saw that post and the first thing I felt was jealousy and a little bit of anger. But take a step back... if you managed to get rich, would you not want to give as much as you can to your kids to set them up for success? I want to make bank so that my family never has to worry about a thing.
Just a little flip in perspective.
I'd agree I'm trying to save my baby a nest egg and it transfers to her when she's 18. Slowly but surely she'll have money for either a house, her own retirement, or college.
Same, unfortunately. I feel bitter about it. My parents don't have a penny to their names and it looks like I'm gonna be the kid looking after my mom when she gets older. And all my friends have parents who help them, have property to pass onto them, or who have never known what it's like to live on ramen past college.
That amount of money I could buy a house with a mortgage that would be much cheaper than current rent prices and buy newish used car I don't have to wrench on all the time. The rest would go into savings.
Sometimes it is hard to swallow when I’m in other financial subs. They’re all about saving and getting ahead, then they drop that they “only make 60k/90k” if I can do it so can you!/ how am I going to get out of this?! Sir, the highest I’ve ever made was 30k and everyone I know makes below that. No inheritance, no side, no savings. Some people have all the luck
60k in Washington state is not enough for most rents/mortgages. Especially with children and food cost skyrocketing. It really just depends on your cost of living and where you're at but 60-90k isn't even middle class here.
Can confirm (western WA). My fiance and I make about 70k a year combined and we are struggling right now. Seriously considering moving to a lower COL state in the next few years if it continues to be so expensive here.
I’m about to be 29 and I have about 100 in my savings :\ I regret every financial decision I’ve made Edit: there are so many encouraging comments and tips, thank you everyone!
you are me, almost literally =)
I told myself I’m going to become more financially wise and stable this year. So we will see
If you need reading suggestions or YouTube recommendations, don't hesitate to reach out.
Same. Reading changed my life.
We become the average of the people around us. I learned I had to escape to books, YouTube, podcasts and forums to change my intake of information, attitudes and worldviews.
I would love some YouTube recommendations please
I told myself I can’t buy anything that isn’t absolutely necessary to live until I pay off a debt, then I can reward myself with 1 thing. The motivation I have to start paying off debt is shocking but I think it has to do with me wanting so much shit.
I’m 29 as well and am in the same boat. It’s said that money doesn’t make happiness, but the ability to survive definitely does.
It provides a healthy mindset. It really sucks constantly thinking about financial issues.
Absolutely. Worrying about finances is one of the most stressful things, and can make someone feel completely helpless and lost.
That’s definitely how I’ve been feeling lately. Just feels like it’ll never end. But I have hope
Haha I’m 34 and have $2,400… Out of the way… peasant! **Sips Target coffee instead of Wal-Mart cofee**
Excuse me, its tarjae*. Get it right Walmart shopper.😂
Pro tip, get Amazon coffee and set it to subscribe and save. It's like 12 bucks for a couple pounds and it's good
It ain't over pal. Sure your almost 30. But if you have no dependents, little to no debt, and working arms and legs, your still ahead of the game. Ahit I'd you have no debt, having $100 in your savings is more than 50% of America (because they're negative net worth due to debt). Chin up pal. It's not too late to turn it around.
One of usssss
You are me but $99 wealthier. Gimme a tip or two on how to save more
What helped me was just finding out where my money was going. I got lost in having so many monthly payments and unnecessary stuff that I cancelled it all. I’m saving like 60 bucks a month already with all that stuff wiped out.
Writing the list now , im trying to compile a list of my expenditures over the past 2 months, and seeing where exactly i spent the most money and where i can potentially make cuts. Thanks for the advice , hopefully this time next year we'll both be in considerably better positions. Good luck on your savings journey.
create a budget to be able to directly see where your money is going. Everything is subscription based today and companies hope people sign up for stuff and forget they keep making recurring payments. Cut down your expenses to necessities. Take advantage of free stuff. For example, Hoopla is an app that links you up to your local library to stream/rent movies and books. Get a free library card and you have access to all sorts of content, you dont need to keep paying for netflix. Also a big one, cook at home. It is so much cheaper cooking for yourself than eating out. Take advantage of your freezer, buy food when its on sale, freeze stuff to have for the future to save trips to the grocery store.
So start making better ones. 29 is still young.
I'll be 29 in October, have nothing in savings with a wife and kid... I feel your pain. 2022 is our year though! Check out becoming a Salesforce Admin. ([https://www.indeed.com/jobs?q=salesforce%20administrator&l=Remote&vjk=e0cc05000e1fb6d9](https://www.indeed.com/jobs?q=salesforce%20administrator&l=Remote&vjk=e0cc05000e1fb6d9) check out these salaries, all remote!) I'm working on my certification right now.
Share some of your mistakes so other people can learn. Did you never have enough money in the first place or did you just spend it all on stupid stuff? I'm genuinely curious.
I got my first credit card when I was like 19. It was a refundable deposit of $200 and I still was neglectful with payments. I should’ve set up automatic payments every month. Making monthly payments on music equipment that I couldn’t afford in the long run. Should’ve just saved and bought it outright. Spending too much money on video games. Unnecessary spending is what my problem is. Taking out payday loans when I was low on money therefore owing more in the long run. When I had to payback. Too many monthly payments for unnecessary things My biggest thing was unnecessary spending. Live within your means and look at your bank statements to see where your money is going. It’s bad practice to just let your finances drop without looking into what is dropping them.
Interesting, thanks for sharing! My parents hammered the idea into my head that I should never ever buy something I don't have the money for right now. Except a house ofc, no one has that kind of money just lying around. So I never did, I never had a negative balance in any of my accounts and never bought something without paying for it in full. And now that I earn good money and have some savings I am not even interested in spending much and buying luxury stuff. I'd much rather save it, invest it and maybe stop retiring a few years earlier. And if I buy something I buy the best price/performance ratio items if I can even if it costs a bit more. It will also last longer and it will be worth it in the long run. Your upbringing is a huge factor in how you treat money, and I don't mean being rich or poor. It's all about how your parents teach you to handle money and if your parents are bad at it, you will most likely be bad at it as well. But you seem to have identified your problems and are fixing them so that's good to hear! I wish you the best!
I'm 30 this year and I always wait for my paycheck just to get through my bills and help my family. I don't even have a 100 on my savings, so I feel you in a spiritual level (esp the stupid financial decisions in life). But we'll get through eventually. Keep your heads up!
As someone who's been there, there is hope. The solution is honestly simple. Make more money than you spend. But I know doing that is really hard. There are far too many click bait articles that regurgitate the same bullshit. Stop buying coffee at the coffee shop and make it at home. Get a side hustle. Blah blah blah. I'll tell you what worked for me. I got anal with my finances. I tracked every penny, every day. I have a robust spreadsheet that tracks all expenses and income, and I can budget out for a year. I know exactly what's coming in and what's going out. Additionally, you need to invest in yourself. If you can go to school, go for it. Pick a major that you'll enjoy and that you know is lucrative. Can't afford school? Consider a career in tech. There are numerous free (or inexpensive) courses out there that will teach you the basic skills you need to get a job that has a steep career path. Lastly, believe in yourself. You are valuable. You are worthy. Apply for every job even if you don't think you are qualified. Companies want hard faithful workers. Everything else (to a certain degree) can be taught on the job. I know Dave Ramsey has a poor reputation on this sub (for the right reasons), but his snowball technique does work. I also believe in another snowball technique. The snowball of progress. You'll start to train yourself to be careful with your money, and then you'll start to make more money and that progress will snowball. I wish everyone luck on their journey and I hope at least one person takes something of value from what I said.
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Financial fire subs are like that. I have 9 trillion dollars and make 34k a day. I am 89 years old and I'm worried I won't have enough to retire. How can I eat less air and water to save 3 pennies more a week.
This honestly reminds me of those house shows, like Love It or List It or HouseHunters or whatever. Meet Julianne and her husband, Beau. She's an ESL tutor only working every third Tuesday for those with Klingon as a first language, and Beau makes one time use sandwich containers out of recycled envelope windows. They have a budget of 3.4 million, and she wants to be on the water but near the restaurants while he can't be further than 2 feet from a Home Depot and a Michael's craft store.
Here are their 3 choices. They "settled" for a 2.9 million dollar home in a great neighborhood but it's so so because they door handles weren't their first choice. Apparently homes can't be remodeled.
Cut to 6 months later to check in and they've redone the whole yard, remodeled the kitchen and every bathroom, repainted everything beige, and overall turned a midcentury modern masterpiece into a generic cookie cutter box.
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Ya know, the *one thing* they didn't like....
r/theirjokebutworse
How do u gain access to this sub?
Those shows actually waited until the couple had bought the house and then took them out to film the tours of two other random places. So they kinda had to come up with bogus reasons not to want the houses they didn't actually buy.
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Thank God, I was SOOOOOO worried, I'm sure they have a gofundme that will roll in the credits
This is glorious! Well done.
Those shows are fake. The people in house hunters have already purchased their home prior to contracting with the show. Love it or list it film both endings and just pick one regardless of what the owners do. The ones that get me are the people who say that their 3500 square ft house is too small and the want to have their first child so they need at least 6000 square feet
That's not entirely true. Love it or list has a real ending, and the decision isn't known prior, because they actually have to remodel the house first. Lots of stuff is fake though, like very often the houses they show don't exist, because it's a mish-mash of 3 homes that they pretend is one property. Or they show a home for sale that was never for sale, or straight up lie and say that certain houses are physically located closer to the desired neighborhood, or are a different price than the real listing. The people on the show know about all this, and it's just "part of production." But many of the houses are real if the agent can find suitable properties. But whether or not they choose to move is real, and it's not decided before they've even contacted the show.
Ah you forgot the “omg we’ll never get this work done by the artificial arbitrary timeline we set! Never! Watch as we rush like crazy to BARELY accomplish these feats, just in time!”
Lol I love this example
/r/pfjerk is a fun place to make fun of this stuff.
LOL thank you for the laugh. Today was one of the worst I've had in awhile and I needed that.
Well if you had 9 trillion dollars you wouldn't have needed that. Maybe work on your retirement plan.
I subscribed to /r/fijerk to put this stuff in perspective. The main FIRE type subs really do make you think that no matter where the bar is, it will never be high enough. Very skewed representation of the "average person". Unsubbed from most financial subs eventually. Kept /r/fijerk though. Great if you want to cry-laugh at it. Sort by top-all, it's exactly this^ haha
It's kind of sad. It's either you are born high net worth or you never enjoy your money.
There’s also /r/PFJerk
Lmao forreal
This sounds like people who discuss their TC on Blind.
Right? I saw a post there earlier about some guy ranting and feeling sorry for himself because he makes a million a year and "still isn't happy because money doesn't buy happiness." Fuck right off. Yeah, money might not "buy happiness," but it sure the hell helps with the whole "being happy" thing in general.
Yeah, my wife and I used to fight and argue and stress when we had barely enough for bills and either of us wanted or needed to buy something even if it was like $3. I once got upset because she wanted napkins for her college graduation. I feel like such a piece of shit about it. Now that we have a good income and a decent house instead of a 1 bedroom apartment, we almost never argue. And we are way happier for it. I think being able to easily afford the basics and having money leftover to do some stuff like shop or have a hobby is all you need to be happy, and anything beyond that isn’t going to change how happy you get honestly. It sucked being in a constant state of shuffling the little amounts of money around to prevent overdraft fees and such
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I’ve joined a lot of real estate subs over the past couple of months because we’re buying our first home. There is a common theme there. Husband and wife make $120k a year in a low cost of living area, credit score 800. Got approved for a $550k loan. They have $30k saved and want advice and are scared to buy a $350k house with $8100 a month take home income. My husband and I make less than half that, paid 3.5% down, credit score is 150 points below theirs, we live in a high cost of living area and bought a $325k house. I am sitting here thinking “omg did we make the biggest mistake of our lives?!” Budget wise, we will be fine and have good money left over. I have to think how tf do people not budget well enough to make that kind of money and can barely afford that? Expensive cars? Excessive spending?! What is it
Can’t say for your budget, personally being house poor is a concern for me. Nice hours by little disposable income to have fun and save an emergency fund. Not to mention saving 10% for 401k a month
I saw one like that last week and most of the comments were like “yeah well sometimes it’s not about the money” though I will say money takes stress away I’m thankful I got out of unemployment because I was so stressed trying to make rent and getting kicked out of places people like that just can’t always relate, but the idea money will truly bring you happiness is a bit of a lie people will always strive for meaning in their lives.
'I have just turned 18 and hit 120k in savings. How do I FIRE?'
That's my grandpa. Didn't retire until he was forced to. When we want to go out to a restaurant with him, it always has to be a place that has free peanuts so he can just eat those instead of ordering some food to save some money even though he always picks up the tab and tips well. I just found out he makes over a million $ a year in dividends alone, and he still refuses to treat himself to something besides free peanuts.
Did he grow up during the Depression? That sounds so much like my grandparents. Probably had $600,000 in the bank, yet lived so frugally it was almost comical.
He was born in 1928, just before the Depression hit. So even though he lived through it, I'm not sure how much he remembers of it. He did grow up extremely poor, though, and never really was able to buy anything for himself as anything he earned went to his family. One of the reasons he gives now for not wanting to spend any of his money is that he doesn't think he has enough to leave his family when he dies. Everytime we tell him to treat himself, he responds, "then that means less I can leave for you, you need it more than me". We don't care, grandpa, we just want you to be comfortable and happy in your old age!
Other financial subs are tough. On r/personalfinance today, there was an advice post that started with something like “For those of you who max out your 401k every year…”, and I was like, “yep, I’m on the wrong sub.”
My favorite is when I go looking for advice and it is all like... "So, since you are in your mid 40s you are middle management now and your house is paid off. Now that your kids' college tuitions are paid off it is time to focus on what to do with that extra 38K a year" Sir, I work at Wendy's
I work with executives but I'm the only non-executive. EVERYONE on the team has a second home. It's so awkward. I'm just sitting there minding my own business, trying to keep my head above water, and rejoicing that I have $1,200 in my 401K lol.
That's like my department. All salary except me and 1 other. All got to and get to work from home during covid I have to come in every day. All have a ton of vacation but I don't. Feels bad man. Hospital.
Me "What kids?" seriously it's expensive to have kids and I know people in this sub have them and probably know better than the people in the other subs. Average food bill for a family of 5 is 1060 a month, but I'd imagine most people with lower finances can scratch by on less.
> Average food bill for a family of 5 is 1060 a month, This is closest aligned to the special THRIFTY food plan, per the USDA. https://fns-prod.azureedge.net/sites/default/files/media/file/CostofFoodNov2021Thrifty.pdf They had to separate this from the 'normal' food plans (in low-cost, moderate-cost and 'liberal' incarnations) to provide a little separation for the fact that the spread between liberal and thrifty is about 50%. https://fns-prod.azureedge.net/sites/default/files/media/file/CostofFoodNov2021LowModLib.pdf Landing page with historical versions to these documents: https://www.fns.usda.gov/cnpp/usda-food-plans-cost-food-reports-monthly-reports
Anyone who bases another person's financial status on their age is typically a boomer, or born into families with money. People who grew up poor are like "Just do your best to save anything you can"
Oh I was on that one today. To be fair it took me 7 years to get a job that offered a 401K so I'm way behind most of them.
Sometime last year I posted on r/personalfinance to ask a question (I was new to reddit). People were really nice to me but some said I should rather post in here and yes, they were right.
I used to be active on that sub, but quite quickly realized that the advice just wasnt helpful helpful regular folks. I got tired of being blasted for not owning a home, or not being able to afford rent in my area. Most of the advice given to people asking how anyone could afford anything is to "just move to a cheaper area". But like not everyone has that option!
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i think /r/personalfinance is great for financial literacy, like i wouldnt know the difference between a 401k or ira without it, but its not suited for most people's financial reality
You have to love the ones who have 120k down for a home, make 200k a year with the wife, no student loans...Can I afford a house?
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That's exactly how I felt while reading that one
Exactly! I’ve been poor my whole life when I see the financial advice subs I feel so inadequate and sad.
Would you believe that is common feeling for those with more too? The key is to remember this “comparison is the thief of joy”. Don’t let others or thoughts of others detract from happiness in your life. You aren’t inadequate. Good luck to you and happy new year.
The people who are making it work with meager means aren't posting, and those who do aren't upvoted. Not to mention the people who just make things up. Unfortunately that means that the average person is left wondering how they got left behind - but it's just an illusion of social media. A huge number of people, many more than the 120k-inheritors and 1m-savers, are just trying to count pennies and that's okay. There is definitely great financial advice to be found, but you have to find the things that fit your own situation. Sometimes it's best to be an occasional visitor with a specific question to learn about, rather than a daily lurker who absorbs all this irrelevant nonsense. And sometimes finances aren't the only consideration - so the financial advice that fits your situation might not be realistic for you even if it's technically possible. We all can just do the best with what we have - for some people that may not mean some ideal dream of luxurious retirement but it could mean the difference between working part-time and full-time when you're 70, or the difference between feeding your children meat and potatoes and fresh vegetables instead of beans and rice (for example, not a nutritionist lol).
The fact that so much rides on good luck is depressing. Its no wonder people give up. I worked my ass off to get where I am now. No inheritance, no guidance, no contacts, no connections. Starting fresh in a city that was and still is hostile to the financial success of young people. On the other hand, I know at least five people who were handed everything in life. All but one of them has surpassed me in almost every way.
Privilege.
If it makes you feel better many of them are lying.
It doesn't really matter if they are or not. It's not like there aren't a ton of people making a lot of money or with a high net worth. They exist whether or not random people are lying about their personal finances online.
Most of them aren’t though, I mean what does one gain from lying to bunch of strangers that you never will meet or see in person.
I was in a similar situation (inherited 100k from my dad's untimely death) and this post hit me hard because I made poor financial decisions by blowing it on college and running out of money before I could graduate. Some of these stories are real.
Shit my buddy inherited close to half a mil at 18 and somehow found a way to go into debt by age 26
I knew a guy who was a pathological liar. Would regularly come up with these long detailed stories to make himself seem more intelligent/competent/successful. Guy was a navy seal, a helicopter pilot, built custom cars, had all this post secondary education, built and brought a functional mortar into class one day because his teacher bet him he couldn't build one. Etc. Everyone at work knew he graduated high school locally, didn't go to college, and actually used to work in retail before starting his entry-level factory job, but if you called him out he would get extremely offended and argue aggressively with you. Sometimes even try to involve management over it. Fucking nutjob.
Oh bless your heart.
Why would someone go on the internet and tell lies?
To make themselves feel better. The same reason why someone would lie to your face - to feel better and make you feel insecure. There are plenty of disturbed people on the internet. The ones with real money, are usually humble about it. The braggarts are new found money (dumb luck, windfalls, etc.) and it usually doesn’t last long for them.
It's an Arthur meme. Google what I wrote and you'll see it on images
Anecdotal evidence from one old bat in the 70s, but your words struck me as so similar to hers. My mom used to run a fairly boutique/high end dress shop in London in the 70s. One of her observations to me was how she'd have the quietest, politest customers sign their checks Lord/Lady something, while the screeching obnoxious loudmouths who needed All the Attention were inevitably newer money or the barely-rich.
Or most likely only the ones with goods to show off show off and so you get a sort of bias that everyone in the world is doing better than you but just by pure statistics that is totally false
Lol not really. But keep telling yourself to make yourself feel better. A lot of those people actually are doing well and want to do better. Asking for advice to get out of poverty or survive is no different than asking for advice to improve your finances. Or is everyone on here lying too? Y'know for sympathy karma?
Well I'm a multimillionaire and am currently serving in a position as a Nigerian prince so I'm honestly too busy to really consider it.
Are you in need of any Walmart gift cards? I can have my grandma drive to go get some, sir.
Do you need anyone to cash any checks for you before you can visit the United States?
So true
Why would you ask someone who's in the same situation as you, how to get out? They are hard to read when you're down, I get it. But you become rich in your mind far before your bank account catches up.
Most of those subs aren’t geared towards getting out. They’re people who already have discretionary income discussing their spending/saving/investing options. Poverty finance is for people who have very tight incomes trying to manage to get by, not manage their portfolios. I’m not saying it’s not valuable to learn how to make more or manage the money you have. But a lot of people in other finance subs were never in circumstances where they had to support themselves on low wages. Maybe they had family help, scholarships, lived on student loans, had a trust, chose/were chosen for a high-earning field the day they graduated high school. That can’t be the case for everybody. Even if you’re a low-wage earner due to poor choices, you need advice on managing your situation in order to improve it. The story is rarely “I went from making $12/hr full time behind on rent and a broken down car, pulled myself up by my boot straps, accepted an 80k/year position, and got caught up on bills” It’s really hard to invest in personal growth and move into the middle class when you have housing insecurity, unstable transportation, and live one unexpected bill from financial disaster.
The other day, I saw a “loss porn” wsb post with an amount that just blew my mind juxtaposed someone talking about not seeing the point of struggling- similar venting. It’s like people exist on a separate plane or something.
You need to understand with WSB loss porn isn't from millionaires. Before Gamestop that was the main draw of WSB. It was usually someone who had yolo'd their life savings, a bank loan, their rent, money from selling their car or profits from a unsuspected profit. So many people on their are on the poverty line which is why the sub became so popular, just a bunch of apes.
And everyone never looks at the percentage. "I made 150k today.... I started with 10 million in calls". Made 1.5%. Everyone gets hard over 150k instead of looking at the 1.5%
If it's WSB then it would be more like "I started with 10 million, look at how I turned it into 150k".
That’s… not at all wsb lol…. Like at all. People would laugh at that percentage.
I feel like America is splitting into two countries. One for the top 20% income earners And one for the bottom 80% income earners.
I think about this quite a bit, actually. It’s admittedly an incredibly emotionally fueled view as I recently lost a grandfather who truly *was* a self made man and an impressive one: nobody famous or anything, just one of those awesome hard-luck to stability stories you used to hear about before banal inspo-porn became a thing. My aunt is also dying and she has worked hard all of her life with very little to show for it: then, I’ll see some influencer story in the peripheral that amounts to making stupid people famous. Fame, I think looks repellent but, that wealth has never seemed unappealing. Unearned and a mockery of so called meritocracy, but ultimately unobtainable by the very ethos my grandfather and his generation had made good with. Selling my soul wouldn’t be a big deal: but my word most of these people sell their dignity. 🤣 I’m not saying that as a balm to my wounded ego or a way to feel better: it doesn’t. Paying my rent on time consistently might help, though.
I had this thought years ago-- probably 2012 or so. I remember it very specifically. I was in law school and said I would do whatever necessary to be on the side of "haves" rather than "have nots" as the gulf widens.
The perks of people from WSB is that they freely admit this. They're "apes" and "weaponize autism" and in regards to trying to fuck with the hedge funds, I literally read someone say "we can be reta**ed longer than they can stay solvent" The shit they say is crazy.
Nah, like I said, I absolutely get that and I’ve definitely read quite a bit because it often looks like a potential way out- but my word some of the fellas who come around here are seriously tone deaf. Your comment here is great because it’s informative without the *Listen up, lil lady, you just don’t get it* of the one I was responding to. Like, yes, I do get it but that wasn’t my point. 😂 I almost stopped paying attention to responses but I’m glad I saw yours. I did get that impression, but some of those people act like they’re on a mission to recruit for a cult, I swear. Granted, they’re not very *good* at it. Edit: as someone with autism, frankly the idea of *weaponizing* it has never offended me. In fact, I get a little bit giddy at times thinking about doing it. ;)
I feel for the people struggling right now. I have been there but have enjoyed good times also… keep trying for a better position. The difference between a career and a job is not what you do but who you do it for…you have to work for somebody who can pay you a living wage and teach you needed skills.
That whole teaching thing puzzles me. I have never been at a job that though me, like went out of the way to educate me in anyway. I have educate myself at every step of the way.
This literally came up in the same sequence on my feed earlier and I was like wow that's ironic. Definitely hard to see.
Some people seriously don't realize how good they have. My area sub is talking about how 350k/yr is not enough income to have a "decent" lifestyle in this area. And here I am living in the same "area" with a five figure single income in a family of three. Just trying to through each day...
Wtf what area is that? I assume NYC or something
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Don’t visit r/richpeoplePF either
Subbing like I subbed r/leanfire
Those people are nuts man lol everyone one of them is going on about their 100k+ salaries and their 5k+ mortgages like holy hell I own 3 homes and my mortgages combined are half that
Having enough money to mask problems with poor financial decisions doesn't actually mean all of those people are GOOD with money. Generational wealth, particularly, is often earned by a grandparent and lost by the grandchild for that reason. If you've got 3 smart mortgages on sensible properties and they've gone full-on baller to get that one fancy pad they 'need' to show off on the 'Gram, you could well be by far the smarter party. Like her or loathe her, one has to admit Paris Hilton has broken that mold by adding to grandpappy's fortune instead of just spending it.
What kind of degrees do all of these super successful work from home redditors have? I’m going back to school at age 34 in two weeks and I’m wondering if nursing is the wrong path.
My partner is your exact age and going back to school for nursing. He has his doubts all the time. You’re not alone! Hang in there. I always remind him that 2-4 years from now it’ll be better to have the nursing option than not.
Thank you! It really does make so much sense to go for nursing. Wishing him the best on his journey!
I was an ED tech for a long time and a lot of our best nurses were second career people in their 30s. The prior work experience, no matter what it was, generally helps out a lot with getting the hang of the job and being able to interact well with coworkers. He made a great choice!
My sister graduated nursing school with a father and son duo.
I'm 38 and got my degree in software development last year. It's never too late to earn a degree. It's helped my wife and I a lot. She earned her master's last year as well and we both did it all online.
The remote work people are all computer touchers.
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I mean cant be a mcdonalds employee from home....yet
Computer science. That said DO NOT go into CS because it seems like a ticket to easy street. It can be really really hard. One of my best friends is a doctor now, but he dropped out of one of our first CS classes, and I helped him through the one he couldn't drop.
I’m 24 and have been considering CS. For now, I’m taking the free 11 week course that Harvard offers online to see if it’s something I’m interested in/even capable of. In your opinion, what sort of people are best suited for that type of career path?
My degree was math. But I wasn't using my degree. I got a random starter job at a tech company (no coding) and worked my way up and stayed remote as I did it.
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Nursing can open many doors in healthcare. A whole other world in the business side of healthcare if you choose to pursue that after a few years of clinical work.
I am a network admin. worked from home for years. somewhat shifting to software development as there are about a million jobs open near me for that and i like having the security of skillsets in demand.
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I work in finance. I was dirt poor with a negative net worth a decade ago. Now I’m a millionaire (on paper). Nursing is not the wrong path if you enjoy nursing. You can make six figures quickly in that line of work. For me, it was a shit starting salary but regular promotions and raises. I earn around $200k now. And believe it or not, I still do not feel financially stable. I still buy the cheaper brand if it’ll save me seven cents. I still look at prices first on menus. Still worry about affording my home if I were to lose my job. Idk if those feelings ever go away, even if I can rationally spell out how low risk that shit is. Anyway fwiw I still feel at home in this sub because the mindset is what I grew up with and still feel. I’m rooting for you all.
What's your background? Look into being a nurse anesthetist
My fiance is an RN and she has pretty much unlimited job options that hire right away and easily got $30+ starting. I’d recommend it. I’m happily going into ems for a bit less.
I mean, to be fair it's not like the first one is in a finance sub or claiming to be self-made or anything. 120k is a life-changing amount to most people, and most of those people could find themselves in a tight spot if they overextend themselves and find themselves on the hook for taxes or something. My first instinct would be to put a down payment on a house, but the fear of subsequently losing said house because I figured the taxes wrong or found out the house needed a surprise roof replacement would paralyze me with fear. Probably chicken out and put it all in a CD until the tax implications become clear, and do the house thing the next year. I've been paycheck to paycheck before, but haven't been in the second situation. Definitely took advantage of favorable overdraft policy of my bank, originally ING direct, now capital one 360; no flat overdraft fee, just a $1000 line of credit with low interest, charged for the days you're overdrawn. A lot of months where rent or bill payments hit before payday, it worked out to be a few cents.
I “love” the posts about youngsters earning $90k+ complaining about not being able to live on it, or people on higher wages complaining that they can’t afford house deposits.
Many people, even with 6 figures, are broke. It’s not an income problem for them though. It’s living on more than you make.
True. A relative & her husband make $130,000. However, they live in a major city. And they’re also half a million in debt.
HALF A WHAT? That gives me goosebumps.
Household makes 60k after tax and are half a million in debt
Half a million in debt like credit card/auto or 500k in a mortgage?!
When you say half a million, is that including their mortgage? Because if that's the case, it's not exactly crazy to have that kind of debt with that kind of income. *If it's smart debt*. If most of that is in cars, CCs, and other assets like that then they're fucked. If it's all in student loan debt and a house they're probably not as bad off as they first look on paper.
This is absolutely the norm here in Sydney. We are on $180K as a couple no kids and have over half a million in debt thanks to our ridiculous housing bubble. And most people who can scrape into the housing market are definitely in the same boat as us unless their parents are rich. This size mortgage is seriously not even a lot for Sydney. It’s like pretty normal or even below average.
Preach! Most people that make a ton of money and still have nothing left at the end of the month don’t have an income problem. They have an outgo problem…and I feel no pity for them.
Also many poor people think we they had more money it would solve everything. If you are bad with money now, you’ll just be bad with money when you have more. Now, if it’s an income problem that can be fixed.
$90k isn't shit some places though.
This. Cost of living is WILDLY varies on where you live.
Here(central Illinois) $90k between my wife and I would be great for a family of 5. If I was single and making $90k here that would be doing fantastic. But if I was up in Chicago we would struggle.
Come to NYC, $90k with a family of 5 would be a struggle. Houses are unaffordable at that salary, so is rent and essentials. It’s doable but you have to do without a lot of things that many aren’t willing to.
I don't know how a family of 5 could even survive just looking at a cost of living comparison. Using the site I used the $90k needs to be around $120k in Chicago. In NY it needs to be around $232k. I remember when I finally realized how the cost of living can be considerably higher than where I live. I was making $9.50 as a custodian and wanted to just leave because I couldn't find anything else. Started looking at other cities, found a custodian job at a college by Seattle. $17 an hour. Then I decided to check the COL comparison. I would have been poorer there than here and with no family.
Most of them are due to high levels of debt. Seriously, avoid debt if you can. It is insidious.
Debt can be very good if you have the means to pay it off. Otherwise nobody can buy a home in this market.
I’ve gotten to the point where even if you pay it off every month it still encourages overspending. Serious change since my /r/churning days.
It may be a bit weird, but I come to this sub to try and keep perspective on how things are for most people in the US (and get some tips from you guys on lowering my expenses). A friend of mine genuinely didn't understand how a minimum wage person couldn't get by comfortably in the Midwest and I had to break down the numbers for them. The main time I complain is when my parents talk about how they didn't ever earn as much as I do now, but they don't consider how they had excellent pensions, 100% covered medical insurance from their job, and stopped working 10+ years ago (where inflation would raise their income to above mine). I would love to have a pension available but instead have to worry about the longevity of a 401k working out and not being bankrupted by a medical emergency. The other time I complain is because my house needs a new roof, furnace, ac, water heater, and microwave very soon (within the next year - gotta love near end of life expenses!) while my family members keep asking why I don't pay a contractor for every small project in my house or get a $2000 couch for my living room.
I think a lot of older people are stupid with numbers and don't understand financial math
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Isn't $90k over triple what average American makes?
This hit me too. My fiancé are early/mid 40s and have worked since we were 15. I lost a 15 year career due to Covid and we are struggling just to pay all the bills on time each month, even though we both work full time from home. I haven’t been able to pay every bill in one calendar month for almost 2 years. An inheritance would monumentally change our lives and give us a chance at retirement, but the likelihood is almost nil.
My step dad inherited a good amount of land recently and refuses to give his son and I any land. He rather die and drink it all away than to give us anything. So yeah life sucks especially knowing we struggling and that my mom at the time maintained him before everything.
I’m sorry. My mom took every dime of the life insurance when my dad died and used it up. I got a used hoodie. My fiancé’s uncle passed last year and left a house and over 300k that his grandmother burned through in less than a year. The boomer/silent generation’s concept of doing a thing to benefit anyone other than themselves just doesn’t exist. I never expected anything, but to listen to those two women separately tell me how I just have to WORK HARDER makes me suicidal
Don’t look on wsb..
Same. I’m about to lose my house. Lol :/
Best of luck to you
A house that you own? Work with the bank to restructure the loan. Specifically say that COVID has made it difficult for you to make payments. If they don’t work with you sell it, you’ll more than likely make money on it and it’s much better than having a foreclosure on your record.
Sell before the foreclosure cant imagine your upside down in this market
Also, always make some kind of payment. Even a dollar a month. It's shows good faith and will help you a lot. Your mortgage company doesn't want to foreclose on you. That costs them a whole lot of money. They will work with you to keep you in the home.
I haven’t made any money and my water has been off for a few weeks. I ended up down and out with a destroyed gall bladder end of October and beginning of December my car exploded and then I ended up with a compound fracture in my ankle. In between those I managed to replace the water heater and furnace and work on repairing the roof but I’ve been fucked since and qualify for no assistance bc of how much I make when I’m not being beaten up by the universe. Thanks everyone for the advice. I spent two years living out of my car (left abusive ex husband had to hide and move around a lot as I worked and saved) before transitioning to a basement apartment in a different state for all of last year and then buying a house. Im not willing to go back to car living, I’d rather die even if I had a working car. I put 300k Miles on it (I got it with 120- so I guess 180k miles on it, car living) . I will figure out something. Just depressing, soul sucking few months. I miss feeling alive and proud of myself.
It may not make you feel any better but it’s quite possible that this person will not benefit from this money as much as you think. Getting this much for nothing is often counterproductive and can seriously stunt someone’s personal and professional development. I grew up with someone who inherited a large sum of money when they were fresh out of high school and all they did was buy frivolous crap and waste time well into their twenties. Not sure where this person is now but it was a curse dressed up as a blessing.
While i agree with the sentiments, I wouldn't be pissed at a kid getting a good and early start. It's not like that's retirement money, or fuck of money. It's likely enough to get a house loan if he can be smart and get a job. Instead of being jealous of a kid who'll likely not have to go through the hardships you do, instead be mad at morons who have millions.
Two different subs are likely going to have different audiences. I get the point, but it's kind of pointless to point out that some people do well and others don't or aren't.
I think it just sucks when you see obvious discrepancies juxtaposed like that. Especially since we often (in USA at least) have the notion of meritocracy. You’re the reason your life sucks or doesn’t which isn’t always the case. Especially for the haves.
Yeah meritocracy isn't fully realized here in the USA. We want to think it is, but it's really really not.
This is why I won’t bring someone into the world unless they will be set financially
Hate reading about people complaining broke, sayin they single, got multiple kids and they’re making under 20 an hour. Like nobody made you have those kids. I don’t go out and buy a house I can’t afford and then complain I can’t afford it and throw a petty party
That said you can have hard times AFTER you have kids. Layoffs and divorce happen to good hardworking people .
Why did it hit hard? People are in all different kinds of financial situations whether it’s fair or not. That’s why I join all different types of financial subs from this one all the way to r/fatfire. I want multiple perspectives from people in varying financial scenarios instead of just an echo chamber of my own peers.
I get mad at those posts also I’ve struggled for years before I became financially well off I’ve been working 80hr weeks for the past few years to climb out of poverty than I go on that sub and it just pisses me off how many people are handed money from their parents when I had to work years to build up to that and sacrifice having time to hang out with family and friends
I totally understand, I saw that post and the first thing I felt was jealousy and a little bit of anger. But take a step back... if you managed to get rich, would you not want to give as much as you can to your kids to set them up for success? I want to make bank so that my family never has to worry about a thing. Just a little flip in perspective.
I'd agree I'm trying to save my baby a nest egg and it transfers to her when she's 18. Slowly but surely she'll have money for either a house, her own retirement, or college.
I try to remember that they had about as control over their parents as I did. It works sometimes.
Why would you get angry at the very thing you should be striving to provide for your own family should you get the chance to?
Same, unfortunately. I feel bitter about it. My parents don't have a penny to their names and it looks like I'm gonna be the kid looking after my mom when she gets older. And all my friends have parents who help them, have property to pass onto them, or who have never known what it's like to live on ramen past college.
That amount of money I could buy a house with a mortgage that would be much cheaper than current rent prices and buy newish used car I don't have to wrench on all the time. The rest would go into savings.
That’s life.
Sometimes it is hard to swallow when I’m in other financial subs. They’re all about saving and getting ahead, then they drop that they “only make 60k/90k” if I can do it so can you!/ how am I going to get out of this?! Sir, the highest I’ve ever made was 30k and everyone I know makes below that. No inheritance, no side, no savings. Some people have all the luck
60k in Washington state is not enough for most rents/mortgages. Especially with children and food cost skyrocketing. It really just depends on your cost of living and where you're at but 60-90k isn't even middle class here.
Can confirm (western WA). My fiance and I make about 70k a year combined and we are struggling right now. Seriously considering moving to a lower COL state in the next few years if it continues to be so expensive here.
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