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I had a colleague who was always broke.
Always getting evicted, borrowing $ for lunch, behind on all his bills.
When I dragged him for his spending habits he said “You don’t understand - I make so little money”
I told him I used to make your salary and I didn’t live like this
Always getting evicted, borrowing $ for lunch, behind on all his bills.
When I dragged him for his spending habits he said “You don’t understand - I make so little money”
I told him I used to make your salary and I didn’t live like this
I told him that he’s living beyond his means and that if he doesn’t change he’s going to still be broke even when he starts making more money.
That’s exactly what happened. Within a year or two he was making six figures and still completely broke and getting evicted.
That’s exactly what happened. Within a year or two he was making six figures and still completely broke and getting evicted.
He had a period of time where he had a client who was making him tons of money. I asked him one day — if that client fired him tomorrow, would he have anything to show for it? He said no. He’d saved nothing.
Later that year the client fired him, and he had to start from scratch.
Later that year the client fired him, and he had to start from scratch.
I say all that to say this:
Yes — we need to make sure everyone is paid a living wage & can retire with dignity.
But fair wages and financial literacy are not mutually exclusive.
We have people graduating high school who don’t know how to budget, save, build wealth, or invest
Yes — we need to make sure everyone is paid a living wage & can retire with dignity.
But fair wages and financial literacy are not mutually exclusive.
We have people graduating high school who don’t know how to budget, save, build wealth, or invest
And it’s unfair to expect parents alone to bear the brunt of the financial literacy burden.
Studies have shown that less than 30% of millennials pass basic financial literacy tests but white males from college educated families fared the best. Black and Hispanic — the worst.
Studies have shown that less than 30% of millennials pass basic financial literacy tests but white males from college educated families fared the best. Black and Hispanic — the worst.
He was going to the strip club all the time drinking and spending money partying. But mainly as he started making more money he increased his expenses. Moved into a nicer apartment, fancier car, etc https://twitter.com/texden1975/status/1304179443406123008
