Re:The Golden Rule of Personal Finance
by wisnoskij on Thursday November 10, 2022 @09:28AM
(#33546935)
You cannot out earn a spending habit. It will grow way faster than paycheck because it is nto held in check by reality.
At most you cannot make more than the GDP of the Earth, while your spending habit can be arbitrarily high.
> Their time excessively pruning their budget is better spent learning new skills
Doing anything excessively isn't good. Nobody is saying budget "excessively". If budgeting is taking up all your time, may be you're budgeting excessively.
My advice is for those at 25 years old working in a fast food place who can read and write English. Their time excessively pruning their budget is better spent learning new skills and attempting to sell their services in a market that pays more.
>If you make $35k, it is still possible. It might not be comfortable, and that seems to be the great success of capitalism in the 21st century: convincing people that they shouldn't ever be uncomfortable, or that they can't be without certain items or experiences that they most certainly can be.
I do not know what this means. It is possible to live in the forest and forage and be comfortable, everyone was a few tens of thousands of years ago. But surely things like a safe neighborhood, healthcare for you and family, and opportunity for education are basic things that people can be expected to strive for, and that are not really achievable under a certain income in pretty much all populated regions of the US at $35k per year.