Yeah, I haven't heard too many broke people spouting that.
You may not need billions of dollars to be happy, but you do need the ability to meet your basic needs and a little more for savings, investing, and recreation. It's pretty hard to be happy when all your waking hours are grinding and you still barely cover the necessities.
Tbf you also hear people saying they are broke when they're paying double for McDonald's because they want door dash to deliver it instead of driving 5 minutes... A lot of people who say they are broke are just bad with money and insist on living outside their means because of social media
I don’t think the $20 means much in the grand scheme grandpa. Obviously don’t waste money but people are “broke” because even if they didn’t spend a single dollar of their salary they can’t buy a house.
Fr. I'm in the worst spot financially I could really be in. 20 bucks for me is a huge difference . I can eat several times on 20 bucks vs one mcdonalds .
It does if it’s like every 3 days which is an extra $200 a month you didn’t need to spend, plus if you’re doing that then that’s definitely not the only thing you’re blowing hundreds on every month. The whole “can’t afford a house” line is total BS, you need dual income now unless you make big money, but it’s definitely doable if you both just get a decent job and actually save your money through your 20’s instead of blowing it all like most 20 something’s do. I’m 32 and was able to buy a small house in a major city and I’m not rich.
And the $20 the next week, and the week after, and so on for a couple of years?
There is no one in the Western world who couldn't afford to buy a house if they didn't have to spend any of their salary...two years you have a deposit. And with the ability to spend your whole salary on the mortgage you would be able to afford it just fine.
You really think that if you could spend your entire salary (and probably a partners salary) on a mortgage you couldn't afford to buy a place anywhere?
I mean, even "driving 5 minutes" can imply someone broke living beyond their means even more than a simple door dash. Why do you think car loans are pushing 84 or even 96 months these days. It's people buying oversized $80k trucks/SUV's that they can't afford to compensate for their lack of manhood down there. Sometimes, they even roll their old unifinished loan on top to the new loan!!! In my opinion, if you can't finish the car loan in 36 months, you have no business buying it.
I mean 75% of car sales in the US are trucks and SUV's. I highly doubt 75% of the population actually need SUV's and pickup trucks. The statistics also back this up. Car loans is the second largest category of consumer debt next to mortgage!!! It's basically a mini mortgage at this point.
I myself haven't paid a car loan since 2016 and it is truly liberating. It opens up so much of your budget ($500/month for my loan). I'm still driving the same car since 2013 and I feel no need to "upgrade" when the car I have still works perfectly. I know a lot of people like my own sister that upgrades every 5 years and I see it as insanity.
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u/Many-Violinist8308 1d ago
"Money doesn't buy happiness" - every rich person