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by gandutraveler 2078 days ago
I am an H1B at a FAANG with top paying TC but I just fail to understand why Americans have to live this lifestyle. I get surprised when my fellow colleagues tell me than even with their high TC they don't get to save and live paycheck to paycheck. It's not a better lifestyle but just lack of financial education. American Capitalism and peer pressure is what it is.

I agree that h1b abusing employers have to be stopped and we need to raise the bar for h1b's but lets not make this a discussion about forcing a unhealthy lifestyle on immigrants.
1 comments
bluGill 2078 days ago
>they don't get to save and live paycheck to paycheck. It's not a better lifestyle but just lack of financial education.

Expense will expand to cover whatever income you have. It doesn't matter how rich you are, if you are not careful you can spend your entire income and have nothing left. There are some very poor people in the world saving surprising amounts of money (for their income - when you make a dollar a week saving a few pennies is amazing)

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AnIdiotOnTheNet 2078 days ago
> It doesn't matter how rich you are, if you are not careful you can spend your entire income and have nothing left.

Really? I mean, I hear people (especially SV people) say this all the time but I make a fraction of what they claim to and I rarely even have to think about money.

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bluGill 2078 days ago
You are a minority from what I can tell. Most people spend whatever cash they get. Which is why automatic savings plans are commonly recommended - if the money is never seen you don't spend it.

I'm not sure the above is entirely bad - when you die the money is gone. (this is a religious question - not all agree) You need some savings for unexpected, retirement, planted larger expenses, and other situations. Beyond that, if you have money left over that you didn't spend you wasted your time at work: get a life.

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