ADVERTISEMENT

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

Add photo comments
POST
alexandralewis avatar
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.

View More Replies...
View more commentsArrow down menu

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."

ADVERTISEMENT
#4

So True It Hurts

So True It Hurts

crazyjuice__ , twitter.com Report

Add photo comments
POST
jamie_mayfield avatar
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.

View More Replies...
View more commentsArrow down menu
#5

Just A Holiday Reminder

Just A Holiday Reminder

GxldSociety Report

Add photo comments
POST
donotreplytokjk avatar
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!

View More Replies...
View more commentsArrow down menu

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

Add photo comments
POST
valmartinez72 avatar
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.

View More Replies...
View more commentsArrow down menu
#7

*Sad Noises*

*Sad Noises*

eleanormtweets Report

Add photo comments
POST
finskilad avatar
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.

View More Replies...
View more commentsArrow down menu
ADVERTISEMENT

"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

Add photo comments
POST
liddlecatpaws avatar
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....

View More Replies...
View more commentsArrow down menu
ADVERTISEMENT
#9

Can Anyone Explain Where My Starbucks Money Is Going?

Can Anyone Explain Where My Starbucks Money Is Going?

MattBellassai Report

Add photo comments
POST
michellesavage226 avatar
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.

View More Replies...
View more commentsArrow down menu

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.

ADVERTISEMENT

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.

ADVERTISEMENT
#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

Add photo comments
POST
queeronabike avatar
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.

View more commentsArrow down menu
#13

It’s Not That Hard

It’s Not That Hard

TheAndrewNadeau Report

Add photo comments
POST
lyuboiv avatar
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?!?

View More Replies...
View more commentsArrow down menu

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

Add photo comments
POST
aditychakraborty avatar
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

View more commentsArrow down menu
#16

To Be Honest

To Be Honest

heyzo_ Report

Add photo comments
POST
franziska-eller avatar
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.

View More Replies...
View more commentsArrow down menu
ADVERTISEMENT
#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

Add photo comments
POST
kjorn avatar
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???

View more commentsArrow down menu
#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

Add photo comments
POST
tammyhardy avatar
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.

View More Replies...
View more commentsArrow down menu
See Also on Bored Panda
#28

Big Poverty

Big Poverty

BenjaminPDixon Report

Add photo comments
POST
johntopper avatar
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.

View More Replies...
View more commentsArrow down menu
#29

Finally Figured It Out

Finally Figured It Out

uhhdamn Report

Add photo comments
POST
deray_1979 avatar
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.

View More Replies...
View more commentsArrow down menu
#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

Add photo comments
POST
lyuboiv avatar
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.

View More Replies...
View more commentsArrow down menu
#32

Oof

Oof

Sugm4dig Report

Add photo comments
POST
vasanaphong424 avatar
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

View More Replies...
View more commentsArrow down menu
#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

Add photo comments
POST
andreavilarmelego avatar
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?

View More Replies...
View more commentsArrow down menu
#35

And It Also Doesn't Have Debt

And It Also Doesn't Have Debt

InAFloodplain Report

Add photo comments
POST
grubbster55 avatar
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.

View More Replies...
View more commentsArrow down menu
#36

Two Ways

Two Ways

viachicago22 Report

Add photo comments
POST
alexandralewis avatar
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.

View More Replies...
View more commentsArrow down menu
#37

This Hit Me Hard

This Hit Me Hard

bonoboalien Report

Add photo comments
POST
rkrause avatar
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.

View More Replies...
View more commentsArrow down menu
See Also on Bored Panda
#39

"Poor People Are Just Bad At Saving Money"

"Poor People Are Just Bad At Saving Money"

saul2015 Report

#40

So True

So True

nokia621 Report

Add photo comments
POST
mrskatiawolfe avatar
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!

View More Replies...
View more commentsArrow down menu

Note: this post originally had 51 images. It’s been shortened to the top 40 images based on user votes.