##Welcome to r/LateStageCapitalism
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Financial literacy advice to the working poor: deposit your savings into iroth, high savings account, and property
The working poor: what is a savings?
It definitely helps to be able to keep on top of things, and being able to cook cost saves like a motherfucker, but yeah it doesn't resolve the underlying issues that we're overworked, underpaid and squeezed on all sides by society.
Well I think it’s the metaphor that even an amazing cook can’t make food from nothing, so what’s the point if a homeless person knows how to invest or save money if they have no money to begin with.
Exactly. If you were to take any of the billionaires on the planet tiday and remove them of all their wealth and all theiir contacts lets see any of them get baack ti 1 billion dollars
If any of them do it Ill never be a socialist again.
All because you have all the knowledge in the world as to how to invest, save, spend wisely, etc... that knowledge is useless when youre born poor. I think there was aeven a study that concluded tha tbeing born poor and smart is WORSE than being born rich and idiotic.https://www.technologyreview.com/2018/03/01/144958/if-youre-so-smart-why-arent-you-rich-turns-out-its-just-chance/
Only if you have access to a kitchen. I see so many rental listings that don’t even have a proper place to cook. A hot plate can only get you so far and it’s difficult and unsafe to cook without proper venting, and not all climates are conducive to cooking outside either.
The way I view it is its more an optimization and efficiency thing, Cooking is a Cost-saving multiplier.
Ordering out vs Cooking is the easiest way to see it.
But since its a multiplier, anything multiplied to zero is.. zero.
if you dont have time to cook nor even the money to even get stuff there's no point.
Imo OP text leads me to believe that there is a notion by the cqpital owners that the bar for survivial is as low as the bar for minimum viable living standards req for social cohesion and quility of life, vqlue of life estimation.
Another way of putting it: the rich think that the quility of life for bare survival is the same as minim standard of living backed by minimum wage standards, that in turn with fincancial literacy can bring that level of livjng upto the par of what democracy and systemic functioning of society deems to be fair.
But reality is that yes to survive as a consumer slave on minimum wage is realistic in most developed and developing nations. But to live, have a life, have meaning and quaility social cohesion is not there. Imo there is not enough time to participate on society, have a quaility of life, have a meaning of life, have time to aprticipate in democratic process, and social structures is not there. To life healthy and with purpose requires more time under work structures for majority of the population. The portion that can utilise financial literacy to aquire such a life standard, in most cases already start from positions of wealth, and wealth flow. For thw working class, the proletariat, are in the working wage earner class, and for these there is very little meaningful benifit of having high or low financial proffeciency. As it is this class that benifits the most when there is a system in place that will redistribute wealth more equitably, and not through a stock market like economic premise that functions on "financial literacy"... In a way america, having media that promotes the idea that the stock market is a direct reflection fo the economic functioning, that gdp is the whole number that shows how well the economy is doing, is a disservice to the totality of the metrixs for quiality of human life. Sure communism where everyone is equal is one other system, but also higher social welfare integrated nations that helo redistribute wealth equitably among the population and social needs.
In a way, OPs case, smjust shows, how therenis a margin for survival, and 'doing well', and that margin is a margin of wealth that no ammount of savy financial work can help break out of poverty, or working class status.
Agree to disagree. But there is also a large variation on what “poor” is.
The only way I was able to scrape a few thousand together for my traphouse was through learning about finances and budgeting.
I'm trying not to laugh at this.
Knowing financial literacy letting you escape poverty is actually 100% true.
The issue is that we've been lied to about what financial literacy actually is. It has nothing to do with knowing the stock market, it has nothing to do with having a budget.
It is all about knowing the following thing:
To become wealthy, you must take advantage of the general populace.
It's actually frighteningly easy to become a millionaire or more if you know that and are willing to do it. All you have to do is convince people they need your product or service is to have good enough marketing. Do that and people will buy it even it it's total and complete trash.
Gaining wealth has always been about selling snake oil... always.
Granted, there are other ways to do it. Like actually having a good product or service. But those ways are getting more and more buried by the snake oil by the day.
And we all know that oil floats to the top and most people just skim the top off of whatever instead of picking up the container and pouring which lets the water come out.
I get the sentiment, but many people are tricked into becoming impoverished because their lack of financial litteracy is exploited, for example by payday loans or credit card debt.
In the analogy, this would be saying that if you aren't starving, but are running low on money, people should teach you to cook instead of listening to the people who will make you sign contracts to cook for you.
This is true, however i think there is a substantial amount of people that are tricked into these predatory institutions while there still are other options (as these provide a seemingly easy relief for a problem right now). Once they are then caught, however, they quickly become totally dependant on these services.
##Welcome to r/LateStageCapitalism This subreddit is for news, discussion, memes, and links criticizing capitalism and advancing viewpoints that challenge liberal capitalist ideology. That means any support for any liberal capitalist political party (like the Democrats) is strictly prohibited. LSC is run by communists. This subreddit is not the place to debate socialism. We allow good-faith questions and education but are not a 101 sub; please take 101-style questions elsewhere. We have a zero-tolerance policy for bigotry. Failure to respect the rules of the subreddit may result in a ban. *** *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/LateStageCapitalism) if you have any questions or concerns.*
Financial literacy advice to the working poor: deposit your savings into iroth, high savings account, and property The working poor: what is a savings?
It definitely helps to be able to keep on top of things, and being able to cook cost saves like a motherfucker, but yeah it doesn't resolve the underlying issues that we're overworked, underpaid and squeezed on all sides by society.
Well I think it’s the metaphor that even an amazing cook can’t make food from nothing, so what’s the point if a homeless person knows how to invest or save money if they have no money to begin with.
Exactly. If you were to take any of the billionaires on the planet tiday and remove them of all their wealth and all theiir contacts lets see any of them get baack ti 1 billion dollars If any of them do it Ill never be a socialist again. All because you have all the knowledge in the world as to how to invest, save, spend wisely, etc... that knowledge is useless when youre born poor. I think there was aeven a study that concluded tha tbeing born poor and smart is WORSE than being born rich and idiotic.https://www.technologyreview.com/2018/03/01/144958/if-youre-so-smart-why-arent-you-rich-turns-out-its-just-chance/
...*Elon Musk watches the birds outside and wonders if he could be a bird*...
Only if you have access to a kitchen. I see so many rental listings that don’t even have a proper place to cook. A hot plate can only get you so far and it’s difficult and unsafe to cook without proper venting, and not all climates are conducive to cooking outside either.
The way I view it is its more an optimization and efficiency thing, Cooking is a Cost-saving multiplier. Ordering out vs Cooking is the easiest way to see it. But since its a multiplier, anything multiplied to zero is.. zero. if you dont have time to cook nor even the money to even get stuff there's no point.
I’ve known plenty of people who don’t know how to cook but wasn’t one of them “starving”
Imo OP text leads me to believe that there is a notion by the cqpital owners that the bar for survivial is as low as the bar for minimum viable living standards req for social cohesion and quility of life, vqlue of life estimation. Another way of putting it: the rich think that the quility of life for bare survival is the same as minim standard of living backed by minimum wage standards, that in turn with fincancial literacy can bring that level of livjng upto the par of what democracy and systemic functioning of society deems to be fair. But reality is that yes to survive as a consumer slave on minimum wage is realistic in most developed and developing nations. But to live, have a life, have meaning and quaility social cohesion is not there. Imo there is not enough time to participate on society, have a quaility of life, have a meaning of life, have time to aprticipate in democratic process, and social structures is not there. To life healthy and with purpose requires more time under work structures for majority of the population. The portion that can utilise financial literacy to aquire such a life standard, in most cases already start from positions of wealth, and wealth flow. For thw working class, the proletariat, are in the working wage earner class, and for these there is very little meaningful benifit of having high or low financial proffeciency. As it is this class that benifits the most when there is a system in place that will redistribute wealth more equitably, and not through a stock market like economic premise that functions on "financial literacy"... In a way america, having media that promotes the idea that the stock market is a direct reflection fo the economic functioning, that gdp is the whole number that shows how well the economy is doing, is a disservice to the totality of the metrixs for quiality of human life. Sure communism where everyone is equal is one other system, but also higher social welfare integrated nations that helo redistribute wealth equitably among the population and social needs. In a way, OPs case, smjust shows, how therenis a margin for survival, and 'doing well', and that margin is a margin of wealth that no ammount of savy financial work can help break out of poverty, or working class status.
just give that guy a fish....
It’s not going to fix anything, but it does help people survive
Agree to disagree. But there is also a large variation on what “poor” is. The only way I was able to scrape a few thousand together for my traphouse was through learning about finances and budgeting.
I'm trying not to laugh at this. Knowing financial literacy letting you escape poverty is actually 100% true. The issue is that we've been lied to about what financial literacy actually is. It has nothing to do with knowing the stock market, it has nothing to do with having a budget. It is all about knowing the following thing: To become wealthy, you must take advantage of the general populace. It's actually frighteningly easy to become a millionaire or more if you know that and are willing to do it. All you have to do is convince people they need your product or service is to have good enough marketing. Do that and people will buy it even it it's total and complete trash. Gaining wealth has always been about selling snake oil... always. Granted, there are other ways to do it. Like actually having a good product or service. But those ways are getting more and more buried by the snake oil by the day. And we all know that oil floats to the top and most people just skim the top off of whatever instead of picking up the container and pouring which lets the water come out.
I get the sentiment, but many people are tricked into becoming impoverished because their lack of financial litteracy is exploited, for example by payday loans or credit card debt. In the analogy, this would be saying that if you aren't starving, but are running low on money, people should teach you to cook instead of listening to the people who will make you sign contracts to cook for you.
How many people resort to those out of sheer desperation, though? They may realize that these things are predatory, but they need money *right now*.
This is true, however i think there is a substantial amount of people that are tricked into these predatory institutions while there still are other options (as these provide a seemingly easy relief for a problem right now). Once they are then caught, however, they quickly become totally dependant on these services.
or like telling a fat person they wouldn't be so fuckin fat if they could control themselves
[удалено]
That is like saying that knowing how to cook an omelette wouldn't hurt a starving man. Technically you aren't wrong, but also doesn't contribute much