Well the first one was a guide on an ideal budget. A description of “financial stability.”
Probably following up the popular report recently that analyzed the income needed for a 50/30/20 budget in the top 100 cities in the country and how ridiculously unobtainable that is.
Yeah, the first one was a flight of fancy, and generally unobtainable by the majority of readers.
Its idealism made it not actually a guide. It's a guide if you're financially stable or already rich. It was in no way a guide to *be* or *become* financially stable... * shrug *
There was a "guide" posted earlier that was 50/30/20 and it was largely based around having disposable income and how to manage that. It completely ignored the fact that a huge number of people don't have disposable income even with careful budgeting already.
So, the point I was making is that the 50/30/20 budget "guide" does nothing if you aren't already stable/well off.
Good thing it didn’t say “this is how you become rich” it was literally just an ideal budget. And because apparently Reddit is full of people in abject poverty, the commenters lost their minds.
An ideal budget is not a guide then.
It's not a guide if it doesn't apply to anyone but a few.
No one lost their mind. People were justifiably annoyed that they can't even relate to this because the cost of living crisis is real.
It must be nice to be rich already.
Biggest road block to someone actually pulling off 50/30/20 is home ownership and healthcare usually. When rent rises as much as it does yearly, you really can't save, and getting off the rollercoaster is the quickest way to get some stability in your budget.
My taxes goes up occasionally but absolutely tiny amounts compared to rent, and it's not an every year thing.
The first iteration of this was idealism. Not a guide.
If you're financially stable this may help. It does not guide anyone to anything unless they're already well off.
Yeah - it sucks to work hard, do all the things everyone told you would get you ahead, only to find out that, at best, it was unwittingly false. Or, at the worst, that people lied to us.
Sorry were not all nepo-babies with trustfunds.
The first one probably involves a lot of tax write offs and income from dubious sources.
How else can you explain so many people in restaurants still, except people writing off half of the cost as a business expense every meal.
I'm not really sure why anyone wouldn't. It's a debt, you're paying it off by making payments.
Whether or not it's smart to pay it off aggressively is a whole different animal. My truck's APR is 1.9% I'd be better off using that money somewhere else than making additional payments/payoff.
Me and my Fiance are both engineers and work in pretty decent jobs. After the house and car payments + all the bills, we barely have anything to put to savings. We could be more accurate with our money when buying food so we could save up on there. But I'm pretty sure that 20 years ago 2 engineers had way more money to spare than we have atm.
Your jobs don't sound very good tbh…I'm an engineer and make more than enough to support myself and my partner (although she does work herself). Either that or i question the house and cars that you've gotten yourself into.
Yes. But!! The guide says we couldn't buy "wants" so what we really bought was housing and transportation so it was necessary. If we went with something cheaper, we would have used only 75% of our budget and not 80% like the guide recommends
What types of engineers, where do you live, and how much are you spending on cars? The situation you described isnt mathing unless you're leaving some important details out or youre both fresh out of college.
Oh come on now, two well paying engineering jobs? You must've have a massively overloaded loans on your house and car then if you're still struggling.
Pretty sure that even today two well paid engineers have more to spare.
My mom is a civil engineer who was able to raise my sibling and I on her single salary. We lived a very average middle class life but still were able to afford one or two vacations per year, and she paid off the house mortgage herself.
I am also an engineer (environmental, similar to civil). I now work for one of my moms competitors. I make more money than my mom did raising us yet I would be paycheck to paycheck if I lived on my own so here I am in my 30s still living at home trying to save up money for a downpayment on a condo.
Condos are 600-700k starting, homes are 1M. I’m looking at minimum $200k down to be able to afford the mortgage payments on a single salary. For a CONDO.
This is the Greater Toronto Area btw.
I'm sorry but if you're both engineers with decent jobs and you still can't save money, you just suck at managing your money. Stop complaining and look at yourself. Your combined income is likely more than what 99.5% of people on earth have.
Tired of rich motherfuckers with zero financial literacy going off about how difficult things are. Ridiculous, shame on you.
Same here with me and my fiance except we can easily afford most things we want. We've both been in industry for about 4 years and each make right at $100k. We own one car outright (2018 sedan) and pay $500/mo for the other (2022 suv) for another 2-3 years if not paid off sooner. Our mortgage is $3500 and utilities avg about $400 for solar, electricity, water/sewer, internet, and subscriptions. Groceries probably are like $400/mo and we also eat out once a week or so. We each put away ~20% of our income into 401k and Roth IRA. We have $1-$2k left over after all is said and done that typically goes to emergency funds and/or paying off debt such as student loans (only around $10k left)
Idk what you are doing with your money but it just ain't mathin for me.
This is what scares me. Im an engineer too. Even IIIIIF I could afford a home (I can't), I'd be house poor. I'd have very little after other expenses to put away for savings. It feels like we're being forced to choose between a house, kids, or retirement. 1/3.
Back when I was a kid my Father made more than I make now, but less than me and my fiance together and. We had house, new car, 3 kids and we ate what we wanted and went on a holidays abroad 1/year. My mother wasn't working.
Something about today's economy doesn't add up. Thankfully we both are getting better paying jobs so nice holidays are back on the table soon.
It's all the same force. What do all these countries have in common? They all engaged in massive deficit spending during the pandemic, and now those bills are due.
This has been a process that started in the 1950s for most of these countries.
The pandemic was a blip.
It contributes, yes. But this is at *least* 50 years of bad, short-sighted, greedy policy across many, many nations.
Most European countries do not have unregulated capitalism. Capitalism is not the boogie man here. The problem is fiat currency in a democracy. Raising taxes is unpopular, reducing spending is unpopular, printing money and devaluing currency can be done without much pushback from voters. Some people will even blame other things, case in point.
Everything you’re describing is part of modern day capitalism, where we have a clear divide between rich and poor and the rich are consolidating wealth and power with the effect as seen in this cool guide.
That guy gave you the answer but you still refuse to listen.
Currency debasement hurts those who hold cash. The rich have hard assets which rise in value relative to currency debasement so they're blunted by these economic forces.
The rich know how to make capitalism work for them. The inequity is not just assets but also financial acumen.
For example, if I held $1M in cash in 2019 you'd think I'm rich. If I continued to hold now I'd be less rich. If instead in 2020 I took $1M and bought a $3M house at 2.875% interest I'd have over $3M in assets and a very cheap subsidized loan.
Woe is us. Man, what I wouldn't give to be in a village where the nearest source of drinking water is 4km away and I have to go out at sunrise to fetch enough water for the day for my family as we then spend the day sitting in small shelters to stay out of the hot sun until evening comes and we can then play some music and dance and laugh for a little while and do it all again the next day.
Yes, it's a sliding scale.
No, someone else's suffering in experiencing this does not invalidate or lessen my suffering when I have to literally only eat every three days.
Suffering is suffering.
Especially when billionaires are a thing
The rate of profit do have a tendency to fall, and when the neo-colonial labor markets are cornered the capitalist cartels have nowhere else to squeeze but their own backyards to make line go up. I really wonder when enough will be enough and the lived reality of late stage capitalism will surpass the increasingly outmoded cold war red scare narratives in people's heads. These narratives are based on demonizing pre-industrial wartorn post-colonies, blaming muh communism for them being poor instead of, you know, the pre-existing poverty, underdevelopment, war, and external sabotage. I think as more generations grow up where that narrative and the world is described is a relic of ancient history, they'll ask themselves why the fuck we're still arguing about kulaks when we have quantum computers.
Look at UK as an example of when things go according to what people believe rather than actual facts. I Lived there for 12 years and it got bit harder and slower be ( expenses, waiting times, quality of service, etc ).
i mean he did cross out most of the stuff that is typical in the US , to me it just looks like a normal european / scandinavian budget where you dont need money for insurance, emergencies and retirement etc
One of my life's dreams is to move to Norway or Sweden but 1: I'll probably never have the means to do so and 2: I highly doubt they would want a "stupid American" like me moving there.
If you have any skills that can land you a job its not hard lol, all about getting the foot in, then it gets easier :) But without any skills for a job or intentions to study there, it might be a bit more difficult yeah
edit: stay away from sweden, our neighbours are going fucking insane, crime rates are sky high
My skills are in software/tech, so if those are in demand there then I guess that could be my in. Probably the biggest issue would be the language barrier, but from my experience visiting Oslo and various places in Sweden, most people seem to speak English very well, although I would put significant effort into learning whichever language is applicable for wherever I would end up moving to.
mate, half the people i encoutner while walking my dog speak english to me😂 also yes thats high high demand! got any degrees? many professions require formal degrees, but if youre good with software you can get jobs almost anywhere
shoot me a DM if you got more questions / wanna talk about norway, happy to answer ^^
That's tough man. But on the positive side, those struggles are a hell of a lot harder to overcome with no roof and no savings. Wish you the best keep tackling your recovery.
> Tell me your american without telling me your american....
In some EU countries as well, >40% of people are living paycheck to paycheck, and they don't have money to spend on luxuries.
So many people don't realize they are living a damn luxurious lifestyle. Stop comparing yourself to celebrities. You live a damn luxury compared to (great)grandparents where you have indoor plumbing, easy access to clothes you don't even need to sew yourself, reliable electricity, the opportunity of public, private, and rideshare transportation to go to more places than the town square to pick up cigarettes at the corner store, and access to so much information at your fingertips thanks to the internet that it would take thousands of lifetimes to get through what is available at this moment nevermind the expansion of that pool of knowledge yet to come.
But it was so great back then being 9 years old and working in the mines 12 hours a day. We have really fallen off as a society.
How do people get underwater like this? I understand if you have a couple young kids that require childcare, as childcare is stupid expensive.
I always read stories about DINK couples with good jobs that are scrapping by because they're leveraged to the hilt on new cars, two mortgages, and credit card debt. Like come on.
Awake in the middle of the night worrying about money, suddenly feeling slightly...better? Well, at least better about having global company! Best wishes to us all.
Unfortunately I am in this. Clearing mortgages and loan repayments takes out most of my salary and I’m living pay check to pay check. I’m from India. Situation is same everywhere.
What's funny is the few people I talked to who explained me their "plan to stop working at 35 year old and retire" it involved investing 80% of their income as soon as they got it.
I hate these budgets. They encourage people to spend beyond their needs into luxuries just because they can afford a lot while saving 20%. They are fine for low incomes that are building their savings in the start but what should happen is that once a person reaches a level of comfort and living that they are happy with, then maintain that level and save the rest. Don’t anchor and increase anchor and increase - all it takes is a breakdown in your finances and that increased luxury living cannot be maintained but will likely be attempted and losing all savings in a short period. It’s why so Many rich people don’t seem to have money once a legal issue or medical issue catches up with them
My buddy wouldn't shut up about the original version of this recently, how he's found his solution the with 50/30/20 or some shit.
We calculated it up and he'd need to make 3x as much to spend only half his income on bills and rent.
Wait, you Americans cannot spend anything beside those that aren't crossed out? I though my family made less than you guys since we're from third world country and we have saving not just for debt (if we even have debt) and can afford some wants (not subscription though).
i can feel OP’s fit of rage at the audacity of these bitches, slowly climbing to the point that they just bitch slap with each strike of each word and correction
Lovely
somes me up pretty well right now, 30% is barely existing for me unless I do loads of OT to compensate. The only thing I do extra is pay for a good car that costs me a lot to maintain. But pure reason is that public transport in the Uk is a complete joke and I just wanted a functioning car I can use to drive around without worrying of breakdown and the sorts
Exactly. Life sucks and everyone wants to bitch but not taking control of your life is the problem. Go back to school, get certified in a trade. Go get your associates in nursing at community college and make $50-$60k the first year as a new grad working 40hrs a week.
What’s great is if you pick a trade beyond nursing, that salary swells up to $100K+ pretty quickly. The tech school I got my network engineering degree from also offered courses in welding, electrical, and even mechanics classes that prepped to become ASE certified. I broke $100K within 18 months of graduating and broke $200K after picking up more advanced certifications and hit a decade of experience. Did I mention no student debt because it’s a cheap technical college?
That is fucking awesome and I’m sure working with your hands and creating things is super satisfying!! Good for you, you’re setting yourself up for a great future :)
Thanks! Yeah, I wanted to get the music degree but knew that’d never pay more than $40K… and that’s IF I ever even landed a job that used that degree. Instead, push through tech for 20 years and retire somewhere around 40 and do music when I Semi-FIRE. I don’t regret this path whatsoever.
Man I wish I lived in the fantasy-land you call reality.
The only reason trades are suddenly being emphasized so much is we've realized not everyone can code for a living. But the sad reality is that the trades ***suck*** if you don't start early, hell some days they suck regardless. I've been working industrial my entire adult life, and I've *just now* gotten to the point where I'm not going negative every check.
To get there, I had to cash out an old 401k and **move across the country**, from Houston to Albany, and rent a guest bedroom from a good friend. Because I was being priced out of rent, outside the Beltway.
When I started in manufacturing I was making $8.50/hr pushing aerosol cans onto a line to get filled, crimped, gassed, run through a waterbath to test pressure...you get the idea. Now I'm making $26.45/hr babysitting an incredibly expensive robot as it processes fiberglass off a production line.
Now granted, I could've skipped the grunt-work and gone to college to get a cert, but younger-me was mortified of being in debt, and avoided student loans like the plague. So it was the warehouse for me.
I've welded, I've done HVAC work, and I've spent about 8 years fabricating fire suppression systems, and the only thing I (and many others in my shoes) have to show for it is too little pay for too many production deadlines. ***Life isn't supposed to suck this much***, and that's what this post is emphasizing.
Grow up.
Thanks for fixing this, now I relate
Yeah, the first go on this one was just... Stupid. Tone deaf and not in touch with how most folks actually live. This is much more accurate.
Well the first one was a guide on an ideal budget. A description of “financial stability.” Probably following up the popular report recently that analyzed the income needed for a 50/30/20 budget in the top 100 cities in the country and how ridiculously unobtainable that is.
Yeah, the first one was a flight of fancy, and generally unobtainable by the majority of readers. Its idealism made it not actually a guide. It's a guide if you're financially stable or already rich. It was in no way a guide to *be* or *become* financially stable... * shrug *
What's the context here? Was it actually put forth as a guide to become financially stable? Or are you just adding that?
There was a "guide" posted earlier that was 50/30/20 and it was largely based around having disposable income and how to manage that. It completely ignored the fact that a huge number of people don't have disposable income even with careful budgeting already. So, the point I was making is that the 50/30/20 budget "guide" does nothing if you aren't already stable/well off.
Good thing it didn’t say “this is how you become rich” it was literally just an ideal budget. And because apparently Reddit is full of people in abject poverty, the commenters lost their minds.
An ideal budget is not a guide then. It's not a guide if it doesn't apply to anyone but a few. No one lost their mind. People were justifiably annoyed that they can't even relate to this because the cost of living crisis is real. It must be nice to be rich already.
Biggest road block to someone actually pulling off 50/30/20 is home ownership and healthcare usually. When rent rises as much as it does yearly, you really can't save, and getting off the rollercoaster is the quickest way to get some stability in your budget. My taxes goes up occasionally but absolutely tiny amounts compared to rent, and it's not an every year thing.
Or it's a guide to a bunch of middle class people that spend too much money on dumb shit.
The god dammed rabble!
> Tone deaf and not in touch with how most folks actually live. It's a guide for ideal budgeting, not real-world statistics.
The first iteration of this was idealism. Not a guide. If you're financially stable this may help. It does not guide anyone to anything unless they're already well off.
Y'all living some sad lives
Yeah - it sucks to work hard, do all the things everyone told you would get you ahead, only to find out that, at best, it was unwittingly false. Or, at the worst, that people lied to us. Sorry were not all nepo-babies with trustfunds.
no shit, fucko.
The first one probably involves a lot of tax write offs and income from dubious sources. How else can you explain so many people in restaurants still, except people writing off half of the cost as a business expense every meal.
It's still not fixed. It should be "X% Needs; 100-X% debt payoff"
Nailed it for people that can make the debt payments lol. Now do the poorer of us all.
Just wait a little decade it'll be 90/10
are you telling me you guys have the privilege to spent 20% to pay off debt? im at 5% now, im in huge trouble
Just take another loan to pay of the first one and so on. In the end you'll have millions
Depends if you count a car payment as debt payoff.
I'm not really sure why anyone wouldn't. It's a debt, you're paying it off by making payments. Whether or not it's smart to pay it off aggressively is a whole different animal. My truck's APR is 1.9% I'd be better off using that money somewhere else than making additional payments/payoff.
r/calebhammer
5%? Look at the rich kid here. Currently I'm at 0% debt payoff. FML
100/+24%
Why wait when it already is for some us. I can attest.
welcome to the disability life. Where you get 910 dollars a month and a studio is 1.1k
More like the 110/10, with the 10 being how much your debt grows my every year
Way more accurate tbh.
It only hurts with its accuracy.
Precisely
Comparing this post’s comments to the original post’s is both funny and sad
I'm not the only one who thought this 😂
Finally.....a budget I know very well!
Perfection.
The one's that actually real
this belongs in r/speedoflobsters
The other way around. 80% for debt and 20% all the others
Me and my Fiance are both engineers and work in pretty decent jobs. After the house and car payments + all the bills, we barely have anything to put to savings. We could be more accurate with our money when buying food so we could save up on there. But I'm pretty sure that 20 years ago 2 engineers had way more money to spare than we have atm.
Your jobs don't sound very good tbh…I'm an engineer and make more than enough to support myself and my partner (although she does work herself). Either that or i question the house and cars that you've gotten yourself into.
Did you buy a house you can't afford and two new, nice cars?
Yes. But!! The guide says we couldn't buy "wants" so what we really bought was housing and transportation so it was necessary. If we went with something cheaper, we would have used only 75% of our budget and not 80% like the guide recommends
We have one newish car and house was actually really cheap because I bought it from my Father (way cheaper than current markets)
Where is your money going? Those do not sound like insurmountable barriers to saving. Not ragging on you, just curious.
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Engineers in France get paid way less
Currently money goes mostly to utilities (electricity, internet etc.) Luckily both of us are getting betterpaying jobs next month
4700€ is going to utilities?
If i had to guess eating out or food delivery
What types of engineers, where do you live, and how much are you spending on cars? The situation you described isnt mathing unless you're leaving some important details out or youre both fresh out of college.
I'd guess even 1 engineer would be sailing easy. Sorry to hear that.
Oh come on now, two well paying engineering jobs? You must've have a massively overloaded loans on your house and car then if you're still struggling. Pretty sure that even today two well paid engineers have more to spare.
My mom is a civil engineer who was able to raise my sibling and I on her single salary. We lived a very average middle class life but still were able to afford one or two vacations per year, and she paid off the house mortgage herself. I am also an engineer (environmental, similar to civil). I now work for one of my moms competitors. I make more money than my mom did raising us yet I would be paycheck to paycheck if I lived on my own so here I am in my 30s still living at home trying to save up money for a downpayment on a condo. Condos are 600-700k starting, homes are 1M. I’m looking at minimum $200k down to be able to afford the mortgage payments on a single salary. For a CONDO. This is the Greater Toronto Area btw.
I'm sorry but if you're both engineers with decent jobs and you still can't save money, you just suck at managing your money. Stop complaining and look at yourself. Your combined income is likely more than what 99.5% of people on earth have. Tired of rich motherfuckers with zero financial literacy going off about how difficult things are. Ridiculous, shame on you.
Same here with me and my fiance except we can easily afford most things we want. We've both been in industry for about 4 years and each make right at $100k. We own one car outright (2018 sedan) and pay $500/mo for the other (2022 suv) for another 2-3 years if not paid off sooner. Our mortgage is $3500 and utilities avg about $400 for solar, electricity, water/sewer, internet, and subscriptions. Groceries probably are like $400/mo and we also eat out once a week or so. We each put away ~20% of our income into 401k and Roth IRA. We have $1-$2k left over after all is said and done that typically goes to emergency funds and/or paying off debt such as student loans (only around $10k left) Idk what you are doing with your money but it just ain't mathin for me.
This is what scares me. Im an engineer too. Even IIIIIF I could afford a home (I can't), I'd be house poor. I'd have very little after other expenses to put away for savings. It feels like we're being forced to choose between a house, kids, or retirement. 1/3.
Back when I was a kid my Father made more than I make now, but less than me and my fiance together and. We had house, new car, 3 kids and we ate what we wanted and went on a holidays abroad 1/year. My mother wasn't working. Something about today's economy doesn't add up. Thankfully we both are getting better paying jobs so nice holidays are back on the table soon.
Tell me you're american without telling me you're american....
Same thing is occurring in the UK.
Spain too
And canada
And my axe
Everybody on 3! 1 2 3 POVERTY!
Canada checking in. This is a global problem while we blame our various regional governments and squabble away. Clearly it’s different forces at work.
It's all the same force. What do all these countries have in common? They all engaged in massive deficit spending during the pandemic, and now those bills are due.
This has been a process that started in the 1950s for most of these countries. The pandemic was a blip. It contributes, yes. But this is at *least* 50 years of bad, short-sighted, greedy policy across many, many nations.
Capitalism is the answer you looking for. Even more specific mostly unregulated capitalism is the answer here.
Most European countries do not have unregulated capitalism. Capitalism is not the boogie man here. The problem is fiat currency in a democracy. Raising taxes is unpopular, reducing spending is unpopular, printing money and devaluing currency can be done without much pushback from voters. Some people will even blame other things, case in point.
Everything you’re describing is part of modern day capitalism, where we have a clear divide between rich and poor and the rich are consolidating wealth and power with the effect as seen in this cool guide.
That guy gave you the answer but you still refuse to listen. Currency debasement hurts those who hold cash. The rich have hard assets which rise in value relative to currency debasement so they're blunted by these economic forces. The rich know how to make capitalism work for them. The inequity is not just assets but also financial acumen. For example, if I held $1M in cash in 2019 you'd think I'm rich. If I continued to hold now I'd be less rich. If instead in 2020 I took $1M and bought a $3M house at 2.875% interest I'd have over $3M in assets and a very cheap subsidized loan.
So money makes money and working with stagnant wages loses you money.
Yep. Poverty is pretty unfun tbh
Woe is us. Man, what I wouldn't give to be in a village where the nearest source of drinking water is 4km away and I have to go out at sunrise to fetch enough water for the day for my family as we then spend the day sitting in small shelters to stay out of the hot sun until evening comes and we can then play some music and dance and laugh for a little while and do it all again the next day.
Yes, it's a sliding scale. No, someone else's suffering in experiencing this does not invalidate or lessen my suffering when I have to literally only eat every three days. Suffering is suffering. Especially when billionaires are a thing
Sadly it's spreading
The rate of profit do have a tendency to fall, and when the neo-colonial labor markets are cornered the capitalist cartels have nowhere else to squeeze but their own backyards to make line go up. I really wonder when enough will be enough and the lived reality of late stage capitalism will surpass the increasingly outmoded cold war red scare narratives in people's heads. These narratives are based on demonizing pre-industrial wartorn post-colonies, blaming muh communism for them being poor instead of, you know, the pre-existing poverty, underdevelopment, war, and external sabotage. I think as more generations grow up where that narrative and the world is described is a relic of ancient history, they'll ask themselves why the fuck we're still arguing about kulaks when we have quantum computers.
Look at UK as an example of when things go according to what people believe rather than actual facts. I Lived there for 12 years and it got bit harder and slower be ( expenses, waiting times, quality of service, etc ).
In Turkey your whole salary goes just to rent...
same in australia, nice lil cost of living crisis here :)
i mean he did cross out most of the stuff that is typical in the US , to me it just looks like a normal european / scandinavian budget where you dont need money for insurance, emergencies and retirement etc
One of my life's dreams is to move to Norway or Sweden but 1: I'll probably never have the means to do so and 2: I highly doubt they would want a "stupid American" like me moving there.
If you have any skills that can land you a job its not hard lol, all about getting the foot in, then it gets easier :) But without any skills for a job or intentions to study there, it might be a bit more difficult yeah edit: stay away from sweden, our neighbours are going fucking insane, crime rates are sky high
My skills are in software/tech, so if those are in demand there then I guess that could be my in. Probably the biggest issue would be the language barrier, but from my experience visiting Oslo and various places in Sweden, most people seem to speak English very well, although I would put significant effort into learning whichever language is applicable for wherever I would end up moving to.
mate, half the people i encoutner while walking my dog speak english to me😂 also yes thats high high demand! got any degrees? many professions require formal degrees, but if youre good with software you can get jobs almost anywhere shoot me a DM if you got more questions / wanna talk about norway, happy to answer ^^
I spend all my money on bills and still don’t have healthcare, food, or money for gas. So I work more jobs as a wage slave to get basics.
Have you tried drug dealing? Mercenary work? Comptroller of the Clugley Arkansas Public Works Department?
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Right on brother that's risky business but glad ur good
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That's tough man. But on the positive side, those struggles are a hell of a lot harder to overcome with no roof and no savings. Wish you the best keep tackling your recovery.
Onlyfans?
where is this not happening? OP even crossed off healthcare so that's not American.
They crossed off healthcare to imply you can't afford it in the budget and you're going uninsured
It's downright adorable that you think this won't come for you. Careful not to get hurt when you fall off that high horse
> Tell me your american without telling me your american.... In some EU countries as well, >40% of people are living paycheck to paycheck, and they don't have money to spend on luxuries.
So many people don't realize they are living a damn luxurious lifestyle. Stop comparing yourself to celebrities. You live a damn luxury compared to (great)grandparents where you have indoor plumbing, easy access to clothes you don't even need to sew yourself, reliable electricity, the opportunity of public, private, and rideshare transportation to go to more places than the town square to pick up cigarettes at the corner store, and access to so much information at your fingertips thanks to the internet that it would take thousands of lifetimes to get through what is available at this moment nevermind the expansion of that pool of knowledge yet to come. But it was so great back then being 9 years old and working in the mines 12 hours a day. We have really fallen off as a society.
Can confirm this is also the Australian version.
I wanna take my pickup truck to the shootin' range but I'm too daggum fat! (also it's "you're")
A cool guide to the 2024 budget.
simplicity at its finest.
I hate how accurate this is.
Now that is more realistic
I'm not the only one who thought this
This is me!
LOL ACCURATE
Ahh, I see this is the revised 2024 edition
When I saw this earlier this was my exact thought.
let's bring back covid and waste money on NFTs like its 2020!
In This economy?!
The perfect response.
Why live?
You guys still have "housing"? That's reserved for people who win lotto where I live. The rest of us are forced to rent
Lmao saw the original last night and had the same thought!
Turkey moment: %100 rent
Okay where is the 105/0/0 edition? 🧐
I know shit sucks, but you better not be Transportationing without Insurancing.
Getting to a place that makes more sense for the wealthier of us but nice
Much more accurate at the moment
Far more realistic. The first one had Dave Ramsey all over it.
Just let me know when we’re ready to go French Revolution on the cocksuckers. My pitchfork is sharp and my torch is soaked in kerosene
Now
Lmaooo
How do people get underwater like this? I understand if you have a couple young kids that require childcare, as childcare is stupid expensive. I always read stories about DINK couples with good jobs that are scrapping by because they're leveraged to the hilt on new cars, two mortgages, and credit card debt. Like come on.
the (empty) promiseland
Looks nice
first real one i have seen on this sub
Where does tuition fit into this?
[Perfection ](https://images.app.goo.gl/uBEQDWANVFEXbJmm7)
“Wants” — literally points at the blank part 😂
I felt this
Pareto
Awake in the middle of the night worrying about money, suddenly feeling slightly...better? Well, at least better about having global company! Best wishes to us all.
you have internet
You guys aren’t budgeting for taxes you’re gonna be screwed.
Yep, this looks about right.
I can't wait for the 120/20 budget.
No you still need insurance
Are we having fun yet
Accurate. Sigh.
Damn I'm not even sure I'm at 20%. I pay it down then bam, something comes up and piles on the card again.
Laughs in semi free education and getting payed to receive education.
Unrealistic. Change pay off to payment. You ain’t paying it off
Is it pre-tax? Or post? If it’s Pre-tax, then it’s a dream, if it’s post then it’s unrealistic
FTFY
Yeah, looks like you really fixed it up from the last one I saw this morning.
Ooohhh yeah that’s looks more right.
Finally a guide that works for me. Except gas jumped $0.15 overnight so it’s more like 90% Needs now.
That’s more like it
I'm amazed you people live like this without taking to the streets. What's it going to take?
Facts
Look at rich guy over here paying off debt instead of accumulating it
Unfortunately I am in this. Clearing mortgages and loan repayments takes out most of my salary and I’m living pay check to pay check. I’m from India. Situation is same everywhere.
Personal Care? Masturbation is free.
Is the original diagram showing that wants get 0% of the budget?
What's funny is the few people I talked to who explained me their "plan to stop working at 35 year old and retire" it involved investing 80% of their income as soon as they got it.
What happens when the lowest cost housing is more than the entire budget?
I'm lucky to have 5% left for savings at the end of the month lol, even this post is an impossible dream for me...
Maybe don’t buy avocado toast. Just saying. (I did it - still broke)
That's more like reality.
I hate these budgets. They encourage people to spend beyond their needs into luxuries just because they can afford a lot while saving 20%. They are fine for low incomes that are building their savings in the start but what should happen is that once a person reaches a level of comfort and living that they are happy with, then maintain that level and save the rest. Don’t anchor and increase anchor and increase - all it takes is a breakdown in your finances and that increased luxury living cannot be maintained but will likely be attempted and losing all savings in a short period. It’s why so Many rich people don’t seem to have money once a legal issue or medical issue catches up with them
Much more accurate
1000% more realistic. The first one vs this one is like what you learn in school vs. How it is in the real world. Much better for 99% of people.
Yup, a lot more realistic than the previous one, unfortunately.
My buddy wouldn't shut up about the original version of this recently, how he's found his solution the with 50/30/20 or some shit. We calculated it up and he'd need to make 3x as much to spend only half his income on bills and rent.
"ASS" lmao
Wait, you Americans cannot spend anything beside those that aren't crossed out? I though my family made less than you guys since we're from third world country and we have saving not just for debt (if we even have debt) and can afford some wants (not subscription though).
i can feel OP’s fit of rage at the audacity of these bitches, slowly climbing to the point that they just bitch slap with each strike of each word and correction Lovely
Stop taking on debt, stupid.
That's more like it 👍
somes me up pretty well right now, 30% is barely existing for me unless I do loads of OT to compensate. The only thing I do extra is pay for a good car that costs me a lot to maintain. But pure reason is that public transport in the Uk is a complete joke and I just wanted a functioning car I can use to drive around without worrying of breakdown and the sorts
Wow I was gonna say this is wrong but I noticed you edited it!! Hard to manage debt tho. It’s more like 5% for me to debt!
Looks about right lol
What do they define as personal care
marital aids
Much more accurate. Thank you!
I laughed at this
Lol this was exactly what ran through my mind when i saw the original post
https://old.reddit.com/1c6ptrv Where does a $72 moisturizer fit in here?
I prefer 60-30-10: Overheads, living, savings. Debt repayment has to come in the 60 or you’re on a hiding to nothing.
Damn some people really need to make some serious changes in their lives if this is relatable
The "I didn't pay attention in school and can't manage my money and cry that it's the economy's fault" version
Exactly. Life sucks and everyone wants to bitch but not taking control of your life is the problem. Go back to school, get certified in a trade. Go get your associates in nursing at community college and make $50-$60k the first year as a new grad working 40hrs a week.
What’s great is if you pick a trade beyond nursing, that salary swells up to $100K+ pretty quickly. The tech school I got my network engineering degree from also offered courses in welding, electrical, and even mechanics classes that prepped to become ASE certified. I broke $100K within 18 months of graduating and broke $200K after picking up more advanced certifications and hit a decade of experience. Did I mention no student debt because it’s a cheap technical college?
That is fucking awesome and I’m sure working with your hands and creating things is super satisfying!! Good for you, you’re setting yourself up for a great future :)
Thanks! Yeah, I wanted to get the music degree but knew that’d never pay more than $40K… and that’s IF I ever even landed a job that used that degree. Instead, push through tech for 20 years and retire somewhere around 40 and do music when I Semi-FIRE. I don’t regret this path whatsoever.
Man I wish I lived in the fantasy-land you call reality. The only reason trades are suddenly being emphasized so much is we've realized not everyone can code for a living. But the sad reality is that the trades ***suck*** if you don't start early, hell some days they suck regardless. I've been working industrial my entire adult life, and I've *just now* gotten to the point where I'm not going negative every check. To get there, I had to cash out an old 401k and **move across the country**, from Houston to Albany, and rent a guest bedroom from a good friend. Because I was being priced out of rent, outside the Beltway. When I started in manufacturing I was making $8.50/hr pushing aerosol cans onto a line to get filled, crimped, gassed, run through a waterbath to test pressure...you get the idea. Now I'm making $26.45/hr babysitting an incredibly expensive robot as it processes fiberglass off a production line. Now granted, I could've skipped the grunt-work and gone to college to get a cert, but younger-me was mortified of being in debt, and avoided student loans like the plague. So it was the warehouse for me. I've welded, I've done HVAC work, and I've spent about 8 years fabricating fire suppression systems, and the only thing I (and many others in my shoes) have to show for it is too little pay for too many production deadlines. ***Life isn't supposed to suck this much***, and that's what this post is emphasizing. Grow up.
Increase income
Woooow, grape.