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Google "how to save money" and you'll get 3,740,000,000 results, promising you will be able to save up for any purchase if you just give them a click and scroll through their ads. Oops, I mean, text. Move over Jerome Powell, nowadays even teenage TikTokers are experts on macro and micro economy. Or are they?

The members of the subreddit Poverty Finance: Personal Finance For The Financially Challenged don't think so. And when you look at their content, it becomes pretty difficult to disagree with them. These Redditors share actual financial advice, frugality tips, stories, opportunities, and general guidance for people who are struggling financially. Oh, and they also torch pseudo financial gurus, burning their out-of-touch content to a crisp. My favorite.

So this time, as an introduction to the online community, we'll focus on the jokes and memes they've collected since getting together in 2018.

#1

Being Poor Is A Choice? If You Play By The Rules You'll Be Safe? Really? Tell That To Him

Being Poor Is A Choice? If You Play By The Rules You'll Be Safe? Really? Tell That To Him

OpeningCredit Report

A huge part of this community's charm is its inclusivity. "Much of the financial advice online and on Reddit is aimed at people who have varying degrees of disposable income, ability to invest, lots of free time, available transportation, no kids, a partner, access to credit, and beyond," the people running the subreddit write in its 'About' section.

"This is a place for people who do not have a lot, nor ideal circumstances, to help each other get by and hopefully move up in the world."

#3

What A Lot Of "Frugal Bloggers" Don't Realize

What A Lot Of "Frugal Bloggers" Don't Realize

_lizharvey , twitter.com Report

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Alex Luiz
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

So true! Every time I read an article about saving money, I am already doing all of those things because I am poor.

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As of this publication, it has 847K members and if you relate to Poverty Finance's content, we suggest you join them too. "You do not have to be absolutely destitute to be here. Whether you are a single parent only pulling 10K a year, or a single person trying to get past student loans at 28K, you are welcome here," the moderators say.

"The goal here is to help anyone who doesn't have a lot of breathing room get to a place where they have stability, comfort, contingency, and maybe even a little luxury."

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#4

So True It Hurts

So True It Hurts

crazyjuice__ , twitter.com Report

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Ivana
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

We picked a credit union because we made it clear that if we don't have the money, we wanted to be declined. No bank would agree to that but we found a credit union that promised they would not if we signed up for the overdraft protection. They got rid of it a year later without telling us, my husband was 50 cents short and our credit union allowed the cable company to try to run the payment 3 times in one day, meaning 3 overdraft fees of $32 for being 50 cents short. My husband gave a very impassioned speech in the lobby, about how they were their to protect our money and they had left us exposed, etc. Told them that our money was better protected in our mattress. The manager came out, agreed with my husbands logic and set us up a line of credit so if we don't have the funds in our account, it pulls from the line of credit automatically. No overdraft fees in 10 years. Highly recommend if you can find a bank who will set that up for you.

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#5

Just A Holiday Reminder

Just A Holiday Reminder

GxldSociety Report

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Otter
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

That's how I think about unnecessary purchases. "Well, this coat will cost me three days work", or renting a movie will cost five minutes work, or and a possible vacation will cost two weeks work or whatever. Thinking about whether an item is worth the amount of work put into buying it really puts things into perspective!

andreavilarmelego avatar
Ozacoter
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

It is also how i survived some of my worst jobs. Literally counting every hour how nuch I was making (a missery because it was minimum wage but still a consolation). Like "ok thats another 10 euros in my pocket!".

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IlovemydogShilo
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

I wouldn't care if the younger people in my family who work for pay like that NEVER gave me a birthday or Christmas present EVER. They work hard for their money and have a lot of their own expenses too. What little they have to spare they should enjoy on themselves. They've earned it so they deserve it. Having them around and the sheer pleasure and joy of their company is a good enough gift for me. I am blessed with a truly warm kind and loving family who fill my world with joy fun and sunshine. You can't buy that. But it's free and priceless and the most important and beautiful thing in the world. And they gift me with every time I see them.

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John Juan
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

You deserve a million upvotes. Best post ever written. Say hello to Shilo for me.

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Falcon
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

And the 10 bucks per hour is with taxes, so technically it's more than 3 hours.

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cybermerlin2000
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

I've been saving money since I was 14 years old, and I'm now at a point where I can buy a decent gift for someone and take a month to top my funds back up. I'm 50 now.

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abby smink
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Exactly the reason I stopped doing holidays, especially Christmas, all together. It's become more about what you can buy. Meanwhile, you want to go see your family and have a nice meal? Do it. Just because it's Friday. You don't need some special date on a calendar to tell you it's ok. As for the presents? I'd rather have experiences. And you getting something as a gift for someone because you feel socially obligated takes all the meaning out of it.

timhood avatar
timhood
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

With income and sales taxes, it's even more. Probably 4 or 5 hours.

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KK
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Holiday season is overly materialistic to me. Just being with folks who you enjoy being around is the greatest gift of all, imo.

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Rissie
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

I think 30 dollars for a gift during the holidays is very expensive to begin with... Those should be to celebrate with each other and should not be about gifts.

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Ivana
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

My husband and I have been together for 14 years and we have never exchanged gifts, I also implemented this policy with all of my family and friends. We are all adults and instead of freaking out over getting everyone something and maxing out your credit cards on cheap gifts people don't actually want, just hold on to you own money and get yourself that thing you actually want/need. All I need is some good food and hanging out. Kids get gifts, adults get the gift of not stressing over what to buy me for Christmas.

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Sky Render
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Time value of money is a critical concept that we do not stress enough in any education system! It really changes your outlook on what things are worth when you know how much it actually cost you to get, especially compared to how long it will last you.

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Legen ( wait for it ) dary
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Tell this to all the bridezillas asking for a minimum of +400 dollars gifts and a all list of demands.

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Ron Weber
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

More because they had to pay taxes on the $10 an hour. It was more like 3 1/2 hours.

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Nicole
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

And priceless!! Who can live on $10 an hour in greedy America

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Fact Perils
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

There's a play called Pygmalion that has a scene like this. The main character charges a poor girl for voice lessons, but it's not very much. One of his friends asks him why he's charging so little, and he says that for her it's about a quarter of her income, so it's a lot and shows she's really dedicated (don't remember perfectly; its been a while). Obviously this only works because he has other clients that make him more than enough to survive, but it's a nice scene.

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backatya
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

They don't even have to get you a gift but they remembered you in their thoughts besides if you think you should get a $100+ gift you aren't worth it

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Patti Renwick Parrish
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Our family makes gifts or creates cards. Mostly using items we already have or can gather on a nature walk! Gifts are so much more sprecious.

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Jonah Dewar
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Before I got a job that allowed me to afford a car, this was how I decided between public transportation. I would compare my hourly wage to the time it took to get somewhere. 2 hours bus ride at $3, or 20 minute Lyft (along with the 5 minute wait for it to arrive) at $35. Also taken into consideration was how recently in the last 14 days did i get paid?

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Colin Robinson
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

I upset my Aunt once because I flatly refused to take a £5 note off my Gran for Xmas. I wasn't well off at the time but I needed it less than her.

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Amy Watson
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

I went through college thinking "This book cost X hours of working the McDonalds drive though. And tuition for this class was another y hours of cleaning the grease traps and dealing with rude customers. I am not getting anything less than an A because I NEVER want to have to do that again!!'

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Jode Mode
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

I never buy things for anyone - can't remember the last time I did. I've always made things. Magnets, collages, jewelry... Even if they don't love it, I know they preesh the effort and love that went into it!

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JennyLaRue
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

It actually probably cost them 4 hours of their life as taxes would've swiped a chunk before they could buy that $30 gift.

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M O'Connell
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

A 6"x2" sharpening stone makes an excellent gift. They aren't terribly expensive, and one can keep the recipient's knives sharp for the rest of their lives.

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Vasana Phong
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

I relay this certain type of info to my son in a way he can understand, like when he knocked over the dog’s water bowl, he quickly grabbed a bunch of napkins, I told him, be mindful, it’s like 8 cents a sheet

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We contacted the moderator team and one of them was kind enough to spare their morning break for us. Regarding the content on the subreddit, they told Bored Panda: "There are fewer themes and more cyclical subject matters that come up depending upon the time of the year and the current economic and social ongoings. Right this moment, questions about housing, the moratoriums, how to get an apartment with low credit, or whether even buying a house is within the budget of those who fit within the national and international descriptions of low income/poverty line."

As an example, the moderator took us back a few months ago when there were many questions regarding the Emergency Broadband Benefit program issued by the government. But with fall fast approaching, they think the subreddit will soon see questions about how to get supplies for students and questions on how to qualify for free or reduced lunches at school."

#6

Had A Good Laugh At This

Had A Good Laugh At This

YoungFunE Report

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V Martinez
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Love this! I think I'll go out today and invest in some avocados. I finished my last investment (bananas), and want a change now.

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#7

*Sad Noises*

*Sad Noises*

eleanormtweets Report

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TmKhr
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

This is exactly my situation. Rent is almost 900e/month. If I somehow managed to save 4000-6000e, I could ask for a loan at the bank and buy a nice place at 120k. And pay that 500e or something a month for 25 years. But I can't save much because my pay is 1900e / month and over half goes to rent and bills.

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"Once we approach November to December, we will be fielding questions with regards to worries about being able to afford gifts for their children, how to survive the holidays if you are economically disadvantaged," they continued. "Year-round common subject matters tend to be where to find the resources for food, someone to handhold or direct on how to apply for SNAP/EBT, Section 8 Housing, the hardships of just existing in society this day and age and just looking for some emotional support from their economic peers."

According to the moderator, their community is mostly composed of those who have or are currently experiencing poverty. "Whether it's [someone who faces] generational poverty, long-term poverty, short-term poverty, or self-identify as low income for their various regions. We have those who have made it out and into the middle class but are still dealing with the after-effects of having experienced poverty short or long term and the problems that that in and of itself brings."

#8

Financial Health Is The Best Form Of Therapy

Financial Health Is The Best Form Of Therapy

caitiehannan Report

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Jo Johannsen
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Money doesn't buy happiness, but it does buy food, housing, heat, clothing....

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#9

Can Anyone Explain Where My Starbucks Money Is Going?

Can Anyone Explain Where My Starbucks Money Is Going?

MattBellassai Report

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Michelle M
Community Member
2 years ago (edited) DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Not drinking enough coffee. You could be a billionaire when you're high on caffeine. Infact, you could be anything.

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Certified financial planner and frequent contributor to Forbes, Jeff Rose, agrees that there is no shortage of bad financial advice in this world. Rose finds it especially troubling when some of them become so widely spread, so championed, that people actually start blindly following them. The financial planner believes the most harmful tips are: 1. Never use credit cards; 2. Don't waste money on conveniences; 3. All debt is bad; 4. Getting a tax refund is bad; 5. Always get the 401k match; 6. Your home is your most valuable asset. Click here if you want to read Rose's thoughts on each point.

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Talking about bad financial advice, the moderator of Poverty Finance thinks it has to do less with authors and influencers being out of touch and more with the fact that one size rarely fits all. "More and more people gain access to technology that's being developed to give the everyman more access over their finances and their financial future," they explained. "Things that were previously thought to be the purview of just the upper class or left to the financial professionals who knew better."

But they wonder if it can also be a sign of gatekeeping: "Oh, you're poor? Then you have no need for financial advice, it won't benefit you or the maintenance costs made what amount you wanted to add in, too costly and pointless. You can't come up with 10k to open an investment account? They don't want to deal with you. Salary jobs usually come with a 401k, hourly jobs at McDonald's and the like generally do not, and so you're left on your own to figure it out because no one will help you."

The good thing is that technology might be starting to bridge that. "People realize that there are far more low-income and middle-income individuals with a willingness and ability to put away ten, twenty, a hundred, five hundred a month into an account. Who care about not having to work once they hit sixty-five. A neglected and overlooked economic subset who have a significant buying power en mass. But the advice isn't there from the usual places because their advice only works for the upper income. For the gross amounts of money vs the smaller amounts," the moderator added.

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#12

I Know Many Of Us Are Taking Responsibility For Our Part, But...

I Know Many Of Us Are Taking Responsibility For Our Part, But...

wendi_c_thomas Report

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Andy Acceber
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

The lie that all poor people are poor because they're "bad with money" needs to die.

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#13

It’s Not That Hard

It’s Not That Hard

TheAndrewNadeau Report

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Vorknkx
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

I am devastated with guilt that I wasn't born to rich parents. What was I thinking?!?

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But the reality is a bit worrying. Financial literacy — defined as the knowledge and understanding of areas related to personal finance, money, and investing — has been in decline. In 2009, 42% of respondents were able to answer four or more questions correctly in a five-question survey on fundamental concepts of economics and personal finance. By 2018 this dropped 8 percentage points to 34%. What's even more alarming, less than one-third of adults understand three basic financial literacy topics by age 40, although many important financial decisions are made decades earlier.

Under such circumstances, (online) communities like this one might be doing society more good than we can imagine.

#14

Money Saving Tip!

Money Saving Tip!

TheBashBuzz Report

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MrOwlAteMyMetalWorm.
Community Member
2 years ago (edited) DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

They are not everywhere.Distance costs money but the peace and books are worth more than anything. *sighs

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#16

To Be Honest

To Be Honest

heyzo_ Report

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Konpat
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

I come from a poor family and I am affluent now in my adult life. Boy is it fantastic to be able to buy stuff spontaneously without checking your account first! It's just such a huge relieve to not have sorrows about your financial situation. Makes a World of a difference.

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#23

Overdraft Fees Cripple People Already Struggling Financially

Overdraft Fees Cripple People Already Struggling Financially

the_razzlesnake , twitter.com Report

#24

It Never Ends

It Never Ends

emericee Report

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kjorn
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

yeah... they're always people who says cut down your holidays, your trip, your eating out to save money... damn... i don't do any of those things where can i cut???

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#25

Well, It's Technically A Phone Number...

Well, It's Technically A Phone Number...

thebestbobever Report

#26

It’s Almost Offensive, Right?

It’s Almost Offensive, Right?

UpYours003 Report

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Trex
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Why do companies ask people who have significantly less $ than said company to donate? Donate your $ big companies.

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#28

Big Poverty

Big Poverty

BenjaminPDixon Report

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John Topper
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Of course there is. Nothing easier than taking advantage of someone who can't afford to fight back. It's the socioeconomic equivalent of beating up crippled people.

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#29

Finally Figured It Out

Finally Figured It Out

uhhdamn Report

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DE Ray
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

My work took out a life insurance policy on me because I was "so valuable to the company". It was for seven times what they paid me annually.

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#30

It’s Fine, I Didn’t Want To Have Fun Anyway

It’s Fine, I Didn’t Want To Have Fun Anyway

pennhardaway Report

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Vorknkx
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

And even if there is no engine ot check, something else will always pop up... like a mysterious new pain in a body part that used to work fine before.

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#32

Oof

Oof

Sugm4dig Report

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Vasana Phong
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Well if you want to look on the bright side of things, we poor folks are always ready for that struggle battle, and come out of it alive until the next one comes along

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#34

Save Half Your Paycheck, Regardless Of Whatever Else You Have To Pay For, Regardless Of What You Earn, I Guess

Save Half Your Paycheck, Regardless Of Whatever Else You Have To Pay For, Regardless Of What You Earn, I Guess

Iusemyhands Report

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Ozacoter
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Lets see. I earn 0 euros a month and need to spend minimum 90 euros/m for insurance, plus food, medicines, doctors and other expenses. How much will I have if I save -100 euros a month?

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#35

And It Also Doesn't Have Debt

And It Also Doesn't Have Debt

InAFloodplain Report

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Andrew Gibb
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Pigeon breast cooked in a herb and cracked pepper butter, with a red wine and plum sauce reduction on a bed of sorrel leaves. And $20 to spend on drugs and alcohol.

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#36

Two Ways

Two Ways

viachicago22 Report

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Alex Luiz
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

I have just been able to retrain for a job that will pay me more, with a government grant and £10 000 of debt. I mean, I worked hard, but essentially I paid for a qualification in order to earn slightly more money, which I will now spend several years of my life working off. I do wonder if it was worth it.

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#37

This Hit Me Hard

This Hit Me Hard

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Rebekah Krause
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

YES. Double if you have a sibling doing better than you, that your parents like better, but you’re still the retirement plan.

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#39

"Poor People Are Just Bad At Saving Money"

"Poor People Are Just Bad At Saving Money"

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#40

So True

So True

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Katia Wolfe
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

There are only houses in this price range in some states. Definitely not California!

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