Something I have always said about low wage workers

[Johnny2X2X]

39. Common sense

This thread caused me to reflect on the talk of common sense personal finance that you hear so much about from older generations.

Well, as my career has progressed, and I'm making good money, boy does common sense become a heck of a lot easier. Past generations saw fair wages, their expenses were manageable with their incomes. They weren't some pillars of discipline, they simply made enough money to live on and even save. There wasn't so much an erosion of common sense as there was an erosion of real wages.

All the common sense in the world isn't going to help you save up an emergency fund if your rent is 50% of your income. All the common sense in the world won't help you if your income barely covers your expenses and your car breaks down.

That's why I'm mindful as my income has risen that I'm not some supoer disciplined person, I just have gotten to a point where I could eliminate debt, and save a little after my expenses are covered. The only reason I am able to is my income has risen quickly. I'm still very aware that I am not that far removed from barely scraping by like most of the country's workers are. So when I do get a raise, I don't add more expenses, but try to live the same way only with a little more cushion.

The people preaching about common sense are usually really high earners, or they were workers during an era where they were paid fair wages that allowed for things like savings.