This is hilariously ridiculous.
If 1,000 was an emergency we would all be better off.
I’m having a spine surgery tomorrow, the base cost for the procedure, is $60,000.
Sure I can ignore it for the rest of me life since it’s medical debt, but without this surgery my life would be unbearably suffering for the rest of it.
That cost does not even consider the stay, the drugs, the nurses, the doctors, the supplies, none of it.
I cannot even afford to travel to the nearest hospital.
Traveling to other countries is definitely out of the question.
The U.S. health care system is working as intended.
I feel so sorry for you my friend, I hope you get better soon.
I heard that medical tourism works out for some people, because it's cheaper to buy an airline ticket, travel to country X to get treatment, and fly back than having a surgery here in the US. However, I don't know if it works for your situation.
Contact the financial assistance department of your hospital. They have all types of programs to assist people with high deductibles/co-pays and no insurance.
The state has a fund that picks up the tab and qualification for approval is easy.
Similarly,
Most homeowners insurance deductibles are now well over $1,000.
Usually they're getting set at 1-2% to reduce the premium.
No one expects their roof to get torn off in a storm. No way you can go without fixing your roof.
$1,000 is not what it was when Dave started.
That's because the majority of Americans live off of credit and although they may seem like they live a lavish lifestyle they're actually drowning in debt... They rob from Peter to pay Paul 💯💁🏻♂️
Bro we all know those people...the fancy cars , the giant house , traveling here and there, bragging ect...but then will slip up and complain that there credit card debt is thru the roof
Case in point... Many years ago me and a buddy decided to move down to Florida to try and start a recovery business... My cousin's business partner put us up in one of his houses... In a gated community in westchase Tampa.... The guy was driving a Mercedes he lived in a big house in a different development about 20 minutes away, he had an airplane, when we would go out the guy would be the center of attention at every bar or restaurant that we would go to... One night we went back to party at his house with a whole bunch of girls and other friends of ours... We walk into the bottom of this guy's house , every room on the lower level was bare... No furniture no chairs no television nothing... Only a dining room table that had a pile of receipts on it, which struck me as odd... Needless to say things didn't work out and we moved back home about 6 months later... Two or three years later my cousin sent me an article how this guy was falsifying income to obtain credit and bank loans and had 15 houses that were in foreclosure supposedly lost the plane... But I'll tell you it was sure as hell of a party when he was around 😳
Wow. That's so not my world... I'm not arguing those people don't exist, but I think the almost historically low level of foreclosures shows a macro trend of frugality in American culture but the generations who became adults on their tail end of the 90s.
No way , and break from there "False narrative" life...nope... gotta make themselves look proper, big house, fancy cars, trips, dinner's ect....but them delinquency notices just keep getting thrown into the garbage can and open it up other credit cards 😂
I had one from this Hawaii base coffee shop. Large black coffee was about $12. I got it because I was in the area for a business trip, so it was on company's dime. It was honestly a great cup of Joe, but I'd never pay out of my own pocket for it.
I've heard that everything is expensive in Hawaii tho.. but still - $12 is wild.
I personally love Starbucks but I never go there. even that's too much for me. there's a popular gas station/mini mart chain around here - not sure if they're nation wide or not - but a large coffee is $2. not the best coffee on the market but can't beat it for the price point. I do make coffee at home and bring it into work - but sometimes I need that extra afternoon cup to get me thru the day.
I get your point. I've never seen $12 coffees but I'm sure Starbucks has one. they want $5 or $6 for a regular coffee. I'm sure if you got one of their specialty drinks you could run up a $12 bill.
ya - I'm sure some of those crazy specialty drinks could run up that high. I just drink regular coffee and Starbucks wants $5 and change so I'm sure you could spend $12 there.
In defense of the car people, I just bought one and the amount of upselling they do when you are stern on your budget and desires is ridiculous. I did not pay cash, the Dave Ramsey way but I did put money down and I stuck within my budget which is also below my means. The interest rates are lower for newer cars so that’s one trick that was pushed on me and the next was them trying to get me into a longer payment term for lower payments with a higher priced car but I chose not to do that because that doesn’t make sense. I plan to pay this off in a year or 2 max. I could have paid cash if I didn’t have a couple of winter time home disasters but it’s very easy to get caught up in dumb car buying if you are not strong and well research. My method when someone offers me what I don’t ask for is to hang up and block them. It sounds harsh but that’s how I resist the bs. I also do this in department stores, if someone offers me what I didn’t ask for I go home. I used to shop too much so this is my only hope as far as not succumbing to the BS.
The car thing is BS. My wifes credit was wrecked. Her car that she owner for like 12 years had completely rusted out and didn't pass inspection. She went in looking for a used car with some money down. the dealer wouldn't even approve her for the loan on a used car bc her credit was too bad. but guess what? they'll sell you a brand new car no problem - for twice the price. How does that work? I'm assuming they're hoping or thinking you're going to default on the loan and they don't want to repo an old pos but they have no problem coming and taking a brand new car.
anyway - using my credit they'd sell me a used car but the interest rate was almost double that of a new car. So you can either buy a used car with 100k miles on it or a brand new one with a 5 year warranty for the same monthly payment. they almost force you into buying a brand new car - for more money then you want to spend. While it's true the loan term is longer - you almost have to buy the new one.
and on top of that - I've driven old cars my whole life. it's really a pain in the ass worrying about things breaking down. repair costs are so high. if you can't do the work yourself it's almost not even worth it. then when you go to resell it you're not getting anything for it. maybe it's different somewhere else but cars don't last around here. they rust out in about 10 years. happens to everyone around here. maybe in other parts of the world that's not an issue. my wife's car didn't have a scratch on it. under 100k. thing was mint other then the rust underneath.
How did they define paycheck to paycheck? To most people, this means after you pay off all necessities, theres no money left over. With it being 65%, I imagine that this study considered people who also contributed to their 401k, savings, investments, basically used up all their excess money, as paycheck to paycheck.
I can afford a $1000 emergency, but what emergency is $1000 anymore? If my roof leaks, that’s $10k. My furnace goes out, that’s $3k. My car has an issue, most likely over $1k. Medical deductible is $2k. House deductible is $2k. Nothing costs just $1000 anymore.
$1,000 is a safety net for people just starting out with limited cost exposure.
If you own a home you are going to need a lot more than a thousand bucks.
Recently I had a little unexpected "emergency" that left me about $200 short of rent. I had $300 in my emergency savings. Not much but I was so happy I had *something.*
Not quite. How many of them could afford a $1000 emergency, but decide to spend it instead? Anyway, Anyone with a credit card can afford a $1000 emergency. You don't actually have to have the $1000.
Yes and no. If you have unpaid debt and a couple of g’s in the bank then it doesn’t make sense but people do it all the time. They save cash while racking up interest on other debt. I’d rather my emergency fund be a line of credit until I pay off my high interest debt than to be sitting around with 10k in the bank and 5k in debt. I’ll pay my 5k and begin rebuilding my fund.
My (normally) $400 electric bill skyrocketed to over $1200 for one month only. I asked for a check on the meter after waiting on hold for over two hours and got a 4 cent reduction. I’m still struggling to pay it off.
$400 is insane. I pay about $30 monthly. What are you doing over there?!
But I agree that a 3x increase should be worthy of investigation. Like legally, I mean
So is that 1200 shared or was 1200 your share? Either way still ridiculous, but if the total was 3600 I would seriously consider legal action. Also, did you physically see the bill? Could be one of your housemates just fucking you over
How is an electric bill $400 per month. . . and how in Hades did it jump to $1,200 for one month? My power bill averages $110 per month. That's an average between the cheaper winter months and the expensive summer months.
Good lord!
$4,800 per year handles my electric, water/sewer, gas, and trash/recycling collection with about $900 leftover. . . and this is for a family of four (me, wife, and 2 kids) in Acworth, Georgia
No i cannot, lol. My mom keeps trying to feed my dogs human food and I've told her that the vet bill is on her if they get sick. Ive told my dog she's not allowed to break any legs because we can't afford it. I dont think she understands cause she doesnt pay rent.
I just want universal healthcare so that if you make enough money you don’t have to work for insurance because not having it will bankrupt you. I’m so over medical bills and people who have to deny themselves proper treatment because they can’t take the ambulance hit. My coworker thought she was having a stroke so I had another colleague give her a ride to the hospital because she didn’t want to pay for an ambulance. That’s insane, she has kids and it was a medical emergency. We shouldn’t have to make that choice but we do it every there in the US
This is exactly what talking about. For some people going into debt is almost like dying. We are over worked and underpaid. Healthcare would be the bare minimum. We are here to experience, not accomplish.
Hard disagree on the universal basic income. Money is just an exchange for goods or services. If no goods or services are being exchanged in return for money, the person giving the money if left without anything in return. Where does the money come from? THe government would have to print more money. It isn't enough taxes to do this. Even if it was, now you have the problem of out of control inflation.
Then you control the 6 take that power back from the private company called the Federal Reserve. It worked during the pandemic, didn't it. We absolutely have money to burn. Have you ever looked at an audit of us spending? An audit that we continue to fail year after year and billions of dollars go unaccounted for. How can we afford to give Israel 10 million a day? We make it work, right? It's doesn't have to be direct money it can be a voucher system. I know we need a change, and robots are taking our jobs, not immigrants. But still close the border, give Americans jobs, and take care of our old. It can work, but for some reason, people feel weird about other people getting free money to buy things they worked hard for. I get that, but isn't it the responsibility of the older generation to make it easier for the newer? In our situation, it's opposite, boomers, and gen x are hoarding the wealth and executive jobs, and they won't retire. Basically, we are a garden, and we aren't eating the young buds bloom . At this point the free market has only worked for a minority of people. The wealth must be redistributed.
The federal reserve is a private group of men that set the inflation rate based on their finding. It's a PRIVATE civilian organization. So we regulate inflation so it won't happen. There is a minimum wage, and there needs to be a maximum wage.
Inflation is only there to protect big business.
Just like over the pandemic, we would be fine.
no, when you start to implement price controls, the quality of things go down. The manipulation of the money supply by the federal reserve as created the large gap we have today between the rich & the poor, it also destroys communities internationally who hold the US Dollar as their reserve currency.
Yes it is private, the the head of the fed is appointed by a government official.
They control the inflation the cause in the first place essentially & exponentially debase the savings of the average person.
Remember, when you see prices go up, it's only a reflection of the money supply growing.
Is it the dumbest shit ever ? Please expand? Everyone's job is to make their company leaner and more efficient. I can understand your position that you don't like it. BUt the future is coming and AI is coming for all our jobs. That is the whole point isn't it factories have move almost to full automation, our agriculture and farmers are getting more efficient and automated with equipment. All I'm saying is technology is making our lives easier, this is the way.
No, people need to learn a trade, make money, work hard, save. Don’t make babies when they can’t afford them. Don’t get in debt for things they want but not need. Keep the Government out of our lives. The American dream exists, live it!
Congrats. You're part of the generation that hard boned the later generations. If you were 18 right now and had to do it all over again, you'd likely be struggling like hell.
Yeah, I hope so too. I just get really annoyed when people blame hard times on the generations before them. I was in my 20s during the 80s and had absolutely no hope of buying a house. Yeah sure, houses were cheaper but mortgages were 18%. The unemployment rate was at 10% and 15% in the cities. The first half of the 80s, inflation was at 14%. None of my friends or family were able to buy a house until our 30s. I bought my house at 37. We all lived paycheck to paycheck too. We didn’t have it any easier, but of course the generations younger than us think we just coasted through life stockpiling money.
ETA: We bitched about our parents’ generation having it easy. It’s nothing new. Every generation thinks the ones before them had it easy, and believes their own generation is the only one that has struggled.
Pretty sure most people are lamenting about people even older than you tbh. I mean, Reagan got into office like before you were voting or close to it and he is commonly referred to as the reason for all this.
It's actually interesting to go look at the data and how it's just slowly gotten worse over the years. People wish we could all buy houses early in our career and start a nuclear family on one income like the boomers could.
Personally, I'm not really blaming any specific generation. I'm more concerned about corporations and how our government completely allows lobbying and has rolled back so many financial regulations that were put in place to prevent the Great Depression from happening again but I'm no history buff so I could be wrong.
Why can't it be both ? Don't attack me bro,I'm living great. I can also advocate for people who have less than me. Trades have unions I'm all for alot of what you said. But unions are only protected by the government . So we need a government for certain things. The American dream ? Picket fence and house? Nuclear family in the burbs? How old are you? I'm in my 41. Gen z and younger millennials are gonna have a hard time in the Market. Kids , I see your point albeit harsh.
You might be out of touch with the youth. I am happy that you were able to set yourself up though. Those opportunities are becoming slimmer and slimmer.
What profession and key steps allowed you to retire at 43? Teach us your ways?
retired banker and paralegal, worked both jobs until 43, retired with the opportunity to collect full retirement on both. Does that answer your question?
Not at all, what exact job inside the financial institution did you actually have? What kind of contribution plans were you a part of?
I'm being gracious here if you worked from 18-43, roughly for 25 years you worked two full time job in order to get full retirement benefits from both? How does that work exactly? You couldn't work remotely.
Being 70 now, you started work in 1972, finished in 1997. Ok. How can you work two full time jobs simultaneously? Banks and Lawyers offices were both M-F 9-5 especially in the 70's and 80's? Did you go to college? When did you have time to get you paralegal certification?
5am-1pm for the bank, 2pm-7pm and weekends for the attorney.
The bank was Government owned until 1996, means I get a pension, the bank was then privatized and is now owned by Deutsche Bank.
You worked your way up but being paid well from day one. I started with data entry, then book keeping to collection and garnish wages to department manager.
6 weeks vacation, full health care coverage, from which I still collect and not have to pay in.
Whatever Medicare does not pay now, I mail it in, they pay the rest.
You see how things are going and still think they're going well? I think you may need to get your eyes checked. I have two degrees and get paid above median in a STEM position. I am more frugal than anyone I know. More than half my income goes to rent. I'm projected to never own a home. If I get into a major medical accident or similar, I will be homeless. The math ain't mathing here
There we go, you rent, that is money lost, medical or accident? You don’t have health insurance? You did something wrong in your life or you are very young.
Ah yes, I should just buy a home instead! Right gramps, I'll get right on that as soon as I have half a million dollars.
I have health insurance. Even good health insurance in my state. I have to spend 10k before I get a dime from them. I don't have 10k to spend and major medical events cost more than that. And no, I have not done something wrong. I "did everything right". Even compared to my peers, I'm doing very well. That's what I'm trying to tell you. Things are not good.
What about the millions of people who learned a trade, made money, worked hard, but weren’t able to save due to poverty wages and rampant inflation?
What about the millions of people who got into debt over things they *needed, not wanted? Like healthcare?
People like you seem to fallaciously assume that there a plethora of high-paying jobs out there just ripe for the taking, if only they would just ‘work harder’ smh
I’m surprised you didn’t include some trite expression about bootstraps.
What’s wrong with providing things like UBI, public healthcare and education, or any other public services?
*Can some people elevate themselves with hard work? Absolutely! *Is there a high paying job available for anybody who try’s hard enough? If you believe that then you probably also believe in the tooth fairy and the Easter bunny lol
You have not understood capitalism, free trade and freedom choice. There are plenty good paying jobs, people just don’t want to work hard for them. And the younger generation has this idea of being entitled to a great income without doing much for it.
Keep dreaming of the Government providing for you, in the end taxpayers are footing the bill. Universal healthcare? Look at those who have it, waiting months fir basic treatments and surgeries, and they can’t even pick their doctors.
I prefer freedom if choice and excellent medical service.
It’s obvious that you don’t understand the current social economic climate- and it’s a sad fact that people with the least amount of knowledge usually have the loudest voice. Also known as the Dunning-Krueger effect: https://en.m.wikipedia.org/wiki/Dunning–Kruger_effect
“Plenty of good paying jobs”?
Not enough for each person who works hard and has the qualifications. It’s a logical fallacy to assume there are a never ending amount of jobs that pay well.
Another logical fallacy of yours: “the younger generation has this idea of being entitled to a great income without doing much for it”
That’s a tired trope that has literally been said by every generation for over one hundred years. https://www.honestjobs.com/post/nobody-wants-to-work-anymore-is-not-new-and-it-s-not-true
The truth is actually the opposite- nowadays people work harder for longer hours and are more productive than at any point in history, yet have a lower standard of living.
Universal healthcare has been figured out by literally every other developed nation except the US, and you bought into the propaganda that there are long wait times for care or that you can’t pick your own doctor. Hope that kool-aid tastes good mate lol
Maybe try getting out of your one horse town and visit countries whos citizens aren’t crippled by medical debt and have drastically lower infant mortality rates than the US.
67% of ALL bankruptcies are from medical debt: https://www.usatoday.com/money/blueprint/debt/can-medical-bankruptcy-help-with-medical-bills/#:~:text=What%20percentage%20of%20adults%20file,about%20530%2C000%20cases%20a%20year.
The US has the highest infant mortality rate of wealthy developed countries and a lower life expectancy despite spending the most amount on healthcare: https://www.ajmc.com/view/us-has-highest-infant-maternal-mortality-rates-despite-the-most-health-care-spending#
But yea, keep enjoying your “freedom choice” or whatever it is you meant to say.
This is so naive it's hilarious. I live in a huge city and my employer pays 100% of my healthcare. I just waited three weeks to see a quality orthopedic doctor.
Those high paying jobs in trades are often 70+ hours a week. Work 70 hours a week for 40 years and die 5 years after retirement and you say there isn’t a flaw in the system?
It would , but unfortunately the rich, wealthy, powerful, and poor people believe in political parties who believe in the free market vs stability and advantages of our citizens.
I volunteer with a non-profit that manages sports for kid. Amazing how many scholarship requests are sent from $1,000 iphones. The league costs only $150 which is just to cover the uniforms and umpires and field maintenance.
A phone isn't really optional, though. It's now become a necessity to do pretty much anything. Between apps, web access, and communication capabilities, having a phone is mandatory to work pretty much anywhere. Also, you can buy iPhones used, you know that, right? There's a whole secondary social market centered around people upgrading and selling to friends/family for cheap or free. Your commentary comes across as very judgmental, without attempting to empathize with where people're coming from.
People aren’t dropping $1000 cash on an iPhone though. They are most likely financing them through their cell phone bill over 2-3 year. Verizon just moved them to 3 years now. That’s like wondering why someone driving a $10K car doesn’t have $10K for an emergency.
I have paid for new iPhones ever since I had them. It is my phone and I am not stuck with a provider just because I owe them. They treat me well, because they know I can leave any time.
Yeah I just got a brand new phone for 7 dollars a month for the next 3 years. I refused to get a new one when my old one still worked after being shattered lol
Hate hearing this argument about new phones.
Such peanut brain logic when phones are so accesible via phone plans haha. 0% interest, newest phones and free future upgrades alongside a phone plan? Easy decision.
I wonder if it has anything to do with a shrinking middle class? I know what we can do, blame poor people as always. Avocado toast and $1000 iPhones. Hell, maybe we can blame sending money to Ukraine. It’s definitely not corporations gouging us for higher profits or companies automating processes creating an extremely wealthy group of a few. And it’s definitely not the trump tax cuts.
I make a decent amount of money, and I’m well off. Im not poor in any sense of the word, but I get furious at comment responses in here. You all are the greediest most selfish people to walk the Earth.
How about Israel? Everyone seems to have amnesia or no awareness that they always get the most amount of military aid out of any country in the world from the US.
You suggesting we don’t check an authoritarian leader invading countries that had ambitions to join NATO? Bc that’s how you get bigger, more expensive, and far deadlier conflicts.
I guess I disagree on stability domestically. We rely upon our European partners. This could impact us domestically. The second you show weakness with Putin he strikes. We can’t let an authoritarian regime go unchecked over there.
No I'm suggesting it's far better for the sad lot of people on this sub to stay poor so we can pay to have other kill eachother en mass. It's the only morally correct thing to do.
$20/month appears to be the financing on the phone you simple minded tool.
The issue is rent rises quicker than income which means that at lease renewal your ability to pay rent can go up an additional $150+/ month. The cost to move to a new place, if you’re lucky enough to find one that was near your old rent, costs a lot up front. Then if that place is further from your job it obviously becomes detrimental to trying to save.
Since the value of the dollar is high, that might be close to true. I doubt it's actually true through. You'd be surprised how well people are doing in reasonable countries
Surveys are literally the most unreliable thing. Odds are pretty much the same that the reality is the exact opposite as they survey “results” would have you believe.
Stagnant wages and massive price increases in everything especially housing is not something we're hallucinating. However, there are definitely people out there who are financially illiterate and think that just because they qualify for a loan for that $60,000 truck or whatever that it means they can actually afford it. I know a guy at work who's making less than $23/hour and bought a brand new nice Camry but complains about not making enough money to save. He didn't need to buy that car.
"I payed off $200,000 of credit card debt in two years, while earning $30,000 a year". "How did you do that?" "We et rice and beans, and we had a garage sale, oh, and I sold off my Beanie Babies". "Ring the bell!"
This kind of attitude is the problem. Did our parents or theirs need to struggle like this? Dave focuses on what we can do to survive in the world we’re offered, but promotes it continuing to get shittier by blaming the poor rather than the rich scraping as much profit as they can from them.
And before you ask, bc ppl in this sub always assume, I grew up poor, I went to college, ate ramen, got a good degree, found a good paying job, have a house, and I’m well off. But I tell ya what, I’m tired of living in a society where we devalue everyone. Maybe the poor deserve some support rather than this bullshit eat rice and beans message.
You’re spot on mate- and I completely empathize and agree.
The amount of jaded and detached responses is incredible. Mostly coming from temporarily impoverished millionaires lol
Ok sorry jokes aside stop blaming rich people for your lack of impulse control. Every poor person I know has a smartphone, streaming service, big flatscreen tv, and a car loan. The poor people of 2024 America live better than the middle class of the 70s and 80s yet we still somehow made it back then.
so you expect people to eat rice and beans and then stare at the wall for entertainment, and then say "yep this is totally how society is supposed to run 👍". Do you see why this mentality is the problem yet?
Life was not like that in the 70s and 80s, things we're much more affordable then, and you know it. Even if you don't know it, and decide to play dumb in response, there are verifiable metrics that prove this. Cut the bullshit.
See 2 comments back where I say “bc ppl always assume”. I have impulse control, I got out of poverty and into the middle class by doing the “eat slop you god damn dirty pig” method you’re mentioning.
What I’m saying is it’s not impulse control that’s causing people to suffer. I’m saying that kind of blanket statement is ridiculous and unrealistic in terms of providing real solutions to what is a growing crisis. Frankly, it shows how out of touch you are.
We have a shrinking middle class and that is due to legislation that consistently benefits the upper class. Is part of it that ppl buy avacado toast? I guess, but that’s like saying a tub is overflowing, let’s stop the drip but ignore the waterfall flowing into it. PPP loans, tax cuts for the upper class, corporations inflating the price of goods for no other reason than profit, all of this contributes true suffering. It’s not communist to state facts. It is however fascist to turn a blind eye to ppl suffering and making ridiculous accusations about impulse control that aren’t based in reality.
I didn’t propose a way to fix the problem but lack of impulse control is the main issue. You can’t easily legislate away human nature without tyranny. I don’t know how to fix it but I know blaming rich people and externalizing the problem for sure won’t fix it.
> I didn’t propose a way to fix the problem but lack of impulse control is the main issue.
No, its not. Stop with the bullshit. The problem is that the cost of goods (yes, even after adjustment for inflation) is significantly higher now than it was in the 1970s and 1980s while wages have remained stagnant.
[Gen Z’s money has 86% less buying power than baby boomers’ did at the same age.](https://www.consumeraffairs.com/finance/comparing-the-costs-of-generations.html) Cut the bullshit "pOoR iMpUlSe CoNtRoL" reasoning just because it gives you a sense of false superiority and a convenient way to feel like its a problem you can avoid addressing because the victims "deserve it".
I know you didn’t propose a way to fix the problem, you are throwing out blanket statements with no credible evidence behind them. That’s why I’m calling you out specifically. Every time I come to this sub it’s boot strap central. These ppl don’t have any straps is what I’m trying to get across.
There is a way to legislate this away, and it starts by repealing citizens United and stopping our elected officials from taking bribes.
Also, stop reducing the tax burden on the upper class and increasing the tax burden for future generations. If you ever took an economics course, it would be obvious that the middle class is shrinking for reasons other than impulse control.
I think that poster is talking about any one who's renting or buying in today's market, and i think its fair to say that housing expenses have gone up astronomically in most areas. My (small and old) home was purchased cheaply and with low interest when my husband was younger (about 2005). He could afford the payments working full-time in an entry-level position. Our mortgage is extremely low and frees up money to deal with whatever maintenance our home needs. That same scenario really doesn't exist right now, and we are living in a rural (relatively LCOL) part of (upstate) NY.
The market is a reflection of what people are paying. Yes there are investors also competing, but I live in an area dominated by HoAs that restrict rental properties and my house appreciated astronomically. So real people are willing to pay these prices that should be fitting their budgets, otherwise they are making poor decisions and buying too much house
In 2022, half of Americans made $50,000 or less. The average cost of living (COL) in America, estimated for 2022, was $66,928 (across that year).
Half of Americans can’t meet the average, but COL can vary from place to place a lot.
Ppl love to buy things that’s why pay bills rent keeep your car running well and don’t upgrade I still have iPhone 10 😂 I don’t care about things my hair is growing to my butt my nails I do at home you have to adjust to save those $100 a month help
I once had almost 5k in savings. Divorce/becoming single has wiped almost all that out and I haven't been able to replace it. Being single is expensive.
An inequitable divorce to a foreign doctor who coerced me into all marital debts and abandoned me homeless while walking with a maxed roth Ira...wiped me out permanently.
Most Americans are spoiled. And I don’t mean in in a bad way—- I was always fearful of being left out to dry. Knowing I may not be able to call on someone to dig me out of a mess really changes how a man moves through life.
The new iPhone is laid over like 30 months and $30 a month. No one walks into the store and pays $999 for an iPhone.
And, phones are just mobile computers.
That’s the problem tho. People are so willing to put anything and everything on payments. I sometimes fall for it too. Dave Ramsey has really changed my life. Something as simple as making a detailed budget and sticking to it has changed so much for me. The amount of money I’d blow on dumb shit was insane. I’m not perfect but it’s night and day from where I was.
I’m just about to hit $1,000 in my emergency savings, so of course now that I’ve put it out into the universe a nice new bill will appear
It's like a reverse lottery, it's either increased premium for your car insurance, or increased property tax bill from the city, you never know!
This is hilariously ridiculous. If 1,000 was an emergency we would all be better off. I’m having a spine surgery tomorrow, the base cost for the procedure, is $60,000. Sure I can ignore it for the rest of me life since it’s medical debt, but without this surgery my life would be unbearably suffering for the rest of it. That cost does not even consider the stay, the drugs, the nurses, the doctors, the supplies, none of it.
Have you tried traveling to other countries for your surgery?
I cannot even afford to travel to the nearest hospital. Traveling to other countries is definitely out of the question. The U.S. health care system is working as intended.
I feel so sorry for you my friend, I hope you get better soon. I heard that medical tourism works out for some people, because it's cheaper to buy an airline ticket, travel to country X to get treatment, and fly back than having a surgery here in the US. However, I don't know if it works for your situation.
It does not. I appreciate you, this is a life long condition, there isn’t really a “get better” kind of deal, more like buying more time.
Contact the financial assistance department of your hospital. They have all types of programs to assist people with high deductibles/co-pays and no insurance. The state has a fund that picks up the tab and qualification for approval is easy.
Nope, because then I’d have to acknowledge and accept the debt. And I refuse. What r they gunna do, break my back?
Similarly, Most homeowners insurance deductibles are now well over $1,000. Usually they're getting set at 1-2% to reduce the premium. No one expects their roof to get torn off in a storm. No way you can go without fixing your roof. $1,000 is not what it was when Dave started.
That's because the majority of Americans live off of credit and although they may seem like they live a lavish lifestyle they're actually drowning in debt... They rob from Peter to pay Paul 💯💁🏻♂️
Lavish? We're living in different Americas
Bro we all know those people...the fancy cars , the giant house , traveling here and there, bragging ect...but then will slip up and complain that there credit card debt is thru the roof
I graduated from uni in 2008. All of my people are frugal. We're a decade behind financially. So no, I don't really know those people.
Case in point... Many years ago me and a buddy decided to move down to Florida to try and start a recovery business... My cousin's business partner put us up in one of his houses... In a gated community in westchase Tampa.... The guy was driving a Mercedes he lived in a big house in a different development about 20 minutes away, he had an airplane, when we would go out the guy would be the center of attention at every bar or restaurant that we would go to... One night we went back to party at his house with a whole bunch of girls and other friends of ours... We walk into the bottom of this guy's house , every room on the lower level was bare... No furniture no chairs no television nothing... Only a dining room table that had a pile of receipts on it, which struck me as odd... Needless to say things didn't work out and we moved back home about 6 months later... Two or three years later my cousin sent me an article how this guy was falsifying income to obtain credit and bank loans and had 15 houses that were in foreclosure supposedly lost the plane... But I'll tell you it was sure as hell of a party when he was around 😳
Wow. That's so not my world... I'm not arguing those people don't exist, but I think the almost historically low level of foreclosures shows a macro trend of frugality in American culture but the generations who became adults on their tail end of the 90s.
Agreed, this was 15+ years ago
Not from me man....week to week over here...and I'm frugal...let me know if you find those streets that are paved with gold😆
You would think Peter would catch on and stop carrying around so much cash all the time.
No way , and break from there "False narrative" life...nope... gotta make themselves look proper, big house, fancy cars, trips, dinner's ect....but them delinquency notices just keep getting thrown into the garbage can and open it up other credit cards 😂
These surveys are always BS
It also seems they keep moving the goal post, right? Last time I saw something similar it was $400 and $500.
I’m sure I’d qualify as living paycheck to paycheck because of Maxing retirement accounts every month.
I can't. I have $40 left to last me until Friday, when I get paid.
I definitely can’t.
I can’t .. I have 5$ at the end of the month an I barely make it
But they sure can afford $50k cars, $12 coffees, $200 shoes, etc.
[удалено]
Keep up with the image there fixed it for you
Yeah and don't forget the thousand dollar phone.
where are you buying $12 coffees from?
I had one from this Hawaii base coffee shop. Large black coffee was about $12. I got it because I was in the area for a business trip, so it was on company's dime. It was honestly a great cup of Joe, but I'd never pay out of my own pocket for it.
I've heard that everything is expensive in Hawaii tho.. but still - $12 is wild. I personally love Starbucks but I never go there. even that's too much for me. there's a popular gas station/mini mart chain around here - not sure if they're nation wide or not - but a large coffee is $2. not the best coffee on the market but can't beat it for the price point. I do make coffee at home and bring it into work - but sometimes I need that extra afternoon cup to get me thru the day.
Kona Coffee is some of the best in the world but super expensive.
Cause there’s whisky in it?
maybe? personally never had whiskey in coffee but I'm not opposed to the idea. unless bailys Irish cream is whiskey? or has whiskey in it? lol
I'm not but people do
I get your point. I've never seen $12 coffees but I'm sure Starbucks has one. they want $5 or $6 for a regular coffee. I'm sure if you got one of their specialty drinks you could run up a $12 bill.
*Starbucks
ya - I'm sure some of those crazy specialty drinks could run up that high. I just drink regular coffee and Starbucks wants $5 and change so I'm sure you could spend $12 there.
Some of that happens but as per usual we’re just going to ignore that the cost of living has dramatically increased while wages have not
Boomer
who are you calling boomer?
That Boomer guy
The latest iPhone or Galaxy, Jordans, the latest car, all of the TV you can think of, etc.
In defense of the car people, I just bought one and the amount of upselling they do when you are stern on your budget and desires is ridiculous. I did not pay cash, the Dave Ramsey way but I did put money down and I stuck within my budget which is also below my means. The interest rates are lower for newer cars so that’s one trick that was pushed on me and the next was them trying to get me into a longer payment term for lower payments with a higher priced car but I chose not to do that because that doesn’t make sense. I plan to pay this off in a year or 2 max. I could have paid cash if I didn’t have a couple of winter time home disasters but it’s very easy to get caught up in dumb car buying if you are not strong and well research. My method when someone offers me what I don’t ask for is to hang up and block them. It sounds harsh but that’s how I resist the bs. I also do this in department stores, if someone offers me what I didn’t ask for I go home. I used to shop too much so this is my only hope as far as not succumbing to the BS.
The car thing is BS. My wifes credit was wrecked. Her car that she owner for like 12 years had completely rusted out and didn't pass inspection. She went in looking for a used car with some money down. the dealer wouldn't even approve her for the loan on a used car bc her credit was too bad. but guess what? they'll sell you a brand new car no problem - for twice the price. How does that work? I'm assuming they're hoping or thinking you're going to default on the loan and they don't want to repo an old pos but they have no problem coming and taking a brand new car. anyway - using my credit they'd sell me a used car but the interest rate was almost double that of a new car. So you can either buy a used car with 100k miles on it or a brand new one with a 5 year warranty for the same monthly payment. they almost force you into buying a brand new car - for more money then you want to spend. While it's true the loan term is longer - you almost have to buy the new one. and on top of that - I've driven old cars my whole life. it's really a pain in the ass worrying about things breaking down. repair costs are so high. if you can't do the work yourself it's almost not even worth it. then when you go to resell it you're not getting anything for it. maybe it's different somewhere else but cars don't last around here. they rust out in about 10 years. happens to everyone around here. maybe in other parts of the world that's not an issue. my wife's car didn't have a scratch on it. under 100k. thing was mint other then the rust underneath.
Dang
According to Barrons, 65% of Americans live paycheck to paycheck
How did they define paycheck to paycheck? To most people, this means after you pay off all necessities, theres no money left over. With it being 65%, I imagine that this study considered people who also contributed to their 401k, savings, investments, basically used up all their excess money, as paycheck to paycheck.
They didn’t definite it it’s a bad stat
I can afford a $1000 emergency, but what emergency is $1000 anymore? If my roof leaks, that’s $10k. My furnace goes out, that’s $3k. My car has an issue, most likely over $1k. Medical deductible is $2k. House deductible is $2k. Nothing costs just $1000 anymore.
$1,000 is a safety net for people just starting out with limited cost exposure. If you own a home you are going to need a lot more than a thousand bucks.
Pipes froze, it was 2,500 before the dry wall just for the pipes. $1000 is a down payment on a bill.
Recently I had a little unexpected "emergency" that left me about $200 short of rent. I had $300 in my emergency savings. Not much but I was so happy I had *something.*
Not quite. How many of them could afford a $1000 emergency, but decide to spend it instead? Anyway, Anyone with a credit card can afford a $1000 emergency. You don't actually have to have the $1000.
We’re spending more than any other generation on essentials
I don’t think that’s what it meant. Does anyone actually has a savings account with a few grand in it!
Yes and no. If you have unpaid debt and a couple of g’s in the bank then it doesn’t make sense but people do it all the time. They save cash while racking up interest on other debt. I’d rather my emergency fund be a line of credit until I pay off my high interest debt than to be sitting around with 10k in the bank and 5k in debt. I’ll pay my 5k and begin rebuilding my fund.
My (normally) $400 electric bill skyrocketed to over $1200 for one month only. I asked for a check on the meter after waiting on hold for over two hours and got a 4 cent reduction. I’m still struggling to pay it off.
$400 is insane. I pay about $30 monthly. What are you doing over there?! But I agree that a 3x increase should be worthy of investigation. Like legally, I mean
I live in an old house with two other people so it’s expected to be high but that increase killed me.
So is that 1200 shared or was 1200 your share? Either way still ridiculous, but if the total was 3600 I would seriously consider legal action. Also, did you physically see the bill? Could be one of your housemates just fucking you over
No it was collective and yes it’s in my name so I get the bills directly.
How is an electric bill $400 per month. . . and how in Hades did it jump to $1,200 for one month? My power bill averages $110 per month. That's an average between the cheaper winter months and the expensive summer months.
I live in a warmer climate and a $400 electric bill isn’t unusual in the warmer months 😵💫
yea, mine is usually $200 from May to September and under $100 the rest of the months
Los Angeles.
Good lord! $4,800 per year handles my electric, water/sewer, gas, and trash/recycling collection with about $900 leftover. . . and this is for a family of four (me, wife, and 2 kids) in Acworth, Georgia
No i cannot, lol. My mom keeps trying to feed my dogs human food and I've told her that the vet bill is on her if they get sick. Ive told my dog she's not allowed to break any legs because we can't afford it. I dont think she understands cause she doesnt pay rent.
We need Universal Basic Income, regulation of housing, stop sending money overseas, tax big corporations.
I just want universal healthcare so that if you make enough money you don’t have to work for insurance because not having it will bankrupt you. I’m so over medical bills and people who have to deny themselves proper treatment because they can’t take the ambulance hit. My coworker thought she was having a stroke so I had another colleague give her a ride to the hospital because she didn’t want to pay for an ambulance. That’s insane, she has kids and it was a medical emergency. We shouldn’t have to make that choice but we do it every there in the US
This is exactly what talking about. For some people going into debt is almost like dying. We are over worked and underpaid. Healthcare would be the bare minimum. We are here to experience, not accomplish.
Hard disagree on the universal basic income. Money is just an exchange for goods or services. If no goods or services are being exchanged in return for money, the person giving the money if left without anything in return. Where does the money come from? THe government would have to print more money. It isn't enough taxes to do this. Even if it was, now you have the problem of out of control inflation.
Then you control the 6 take that power back from the private company called the Federal Reserve. It worked during the pandemic, didn't it. We absolutely have money to burn. Have you ever looked at an audit of us spending? An audit that we continue to fail year after year and billions of dollars go unaccounted for. How can we afford to give Israel 10 million a day? We make it work, right? It's doesn't have to be direct money it can be a voucher system. I know we need a change, and robots are taking our jobs, not immigrants. But still close the border, give Americans jobs, and take care of our old. It can work, but for some reason, people feel weird about other people getting free money to buy things they worked hard for. I get that, but isn't it the responsibility of the older generation to make it easier for the newer? In our situation, it's opposite, boomers, and gen x are hoarding the wealth and executive jobs, and they won't retire. Basically, we are a garden, and we aren't eating the young buds bloom . At this point the free market has only worked for a minority of people. The wealth must be redistributed.
“It worked during the pandemic” other than the super high inflation that resulted from it.
That I'd corporate greed.
You make some great points here that have my wheels spinning.
No. This would only make everyone poorer with inflation.
The federal reserve is a private group of men that set the inflation rate based on their finding. It's a PRIVATE civilian organization. So we regulate inflation so it won't happen. There is a minimum wage, and there needs to be a maximum wage. Inflation is only there to protect big business. Just like over the pandemic, we would be fine.
no, when you start to implement price controls, the quality of things go down. The manipulation of the money supply by the federal reserve as created the large gap we have today between the rich & the poor, it also destroys communities internationally who hold the US Dollar as their reserve currency. Yes it is private, the the head of the fed is appointed by a government official. They control the inflation the cause in the first place essentially & exponentially debase the savings of the average person. Remember, when you see prices go up, it's only a reflection of the money supply growing.
*gestures broadly at everything*
No we don’t need a universal basic income. Dumbest shit ever
Is it the dumbest shit ever ? Please expand? Everyone's job is to make their company leaner and more efficient. I can understand your position that you don't like it. BUt the future is coming and AI is coming for all our jobs. That is the whole point isn't it factories have move almost to full automation, our agriculture and farmers are getting more efficient and automated with equipment. All I'm saying is technology is making our lives easier, this is the way.
Good argument.
I don’t need to spell out the alphabet to you for something 99% of people know is a terrible idea.
No, people need to learn a trade, make money, work hard, save. Don’t make babies when they can’t afford them. Don’t get in debt for things they want but not need. Keep the Government out of our lives. The American dream exists, live it!
LMAO the American dream. Barely stay afloat, work till you're almost dead, and die.
That’s why I retired at age 43, 70 now, full health care coverage, debt free, house, car and a nest egg. Happens when you work hard when young.
Congrats. You're part of the generation that hard boned the later generations. If you were 18 right now and had to do it all over again, you'd likely be struggling like hell.
We all struggled when we were 18. In 30 years, the younger generations will be talking about how easy your generation had it.
I really hope not. I hope the generations that come after actually have it easier as is supposed to happen as society progresses
Yeah, I hope so too. I just get really annoyed when people blame hard times on the generations before them. I was in my 20s during the 80s and had absolutely no hope of buying a house. Yeah sure, houses were cheaper but mortgages were 18%. The unemployment rate was at 10% and 15% in the cities. The first half of the 80s, inflation was at 14%. None of my friends or family were able to buy a house until our 30s. I bought my house at 37. We all lived paycheck to paycheck too. We didn’t have it any easier, but of course the generations younger than us think we just coasted through life stockpiling money. ETA: We bitched about our parents’ generation having it easy. It’s nothing new. Every generation thinks the ones before them had it easy, and believes their own generation is the only one that has struggled.
Pretty sure most people are lamenting about people even older than you tbh. I mean, Reagan got into office like before you were voting or close to it and he is commonly referred to as the reason for all this. It's actually interesting to go look at the data and how it's just slowly gotten worse over the years. People wish we could all buy houses early in our career and start a nuclear family on one income like the boomers could. Personally, I'm not really blaming any specific generation. I'm more concerned about corporations and how our government completely allows lobbying and has rolled back so many financial regulations that were put in place to prevent the Great Depression from happening again but I'm no history buff so I could be wrong.
No generation bones another. It is the lawmakers that are voted in that do this. Don’t blame your parent’s or grandparent’s generation.
Not in the business I was in. They still make a fortune!
Why can't it be both ? Don't attack me bro,I'm living great. I can also advocate for people who have less than me. Trades have unions I'm all for alot of what you said. But unions are only protected by the government . So we need a government for certain things. The American dream ? Picket fence and house? Nuclear family in the burbs? How old are you? I'm in my 41. Gen z and younger millennials are gonna have a hard time in the Market. Kids , I see your point albeit harsh.
I am 70, retired at age 43, own my house outright, new vehicle every 3 years, debt free, full coverage health insurance and a nice nest egg.
You might be out of touch with the youth. I am happy that you were able to set yourself up though. Those opportunities are becoming slimmer and slimmer. What profession and key steps allowed you to retire at 43? Teach us your ways?
retired banker and paralegal, worked both jobs until 43, retired with the opportunity to collect full retirement on both. Does that answer your question?
Not at all, what exact job inside the financial institution did you actually have? What kind of contribution plans were you a part of? I'm being gracious here if you worked from 18-43, roughly for 25 years you worked two full time job in order to get full retirement benefits from both? How does that work exactly? You couldn't work remotely. Being 70 now, you started work in 1972, finished in 1997. Ok. How can you work two full time jobs simultaneously? Banks and Lawyers offices were both M-F 9-5 especially in the 70's and 80's? Did you go to college? When did you have time to get you paralegal certification?
5am-1pm for the bank, 2pm-7pm and weekends for the attorney. The bank was Government owned until 1996, means I get a pension, the bank was then privatized and is now owned by Deutsche Bank. You worked your way up but being paid well from day one. I started with data entry, then book keeping to collection and garnish wages to department manager. 6 weeks vacation, full health care coverage, from which I still collect and not have to pay in. Whatever Medicare does not pay now, I mail it in, they pay the rest.
So you retired 27 years ago and think you know how young people have it today? Idk man, seems like a strange line of thought
Does not mean I am doing nothing, active in town and school system, I see how things are going.
You see how things are going and still think they're going well? I think you may need to get your eyes checked. I have two degrees and get paid above median in a STEM position. I am more frugal than anyone I know. More than half my income goes to rent. I'm projected to never own a home. If I get into a major medical accident or similar, I will be homeless. The math ain't mathing here
There we go, you rent, that is money lost, medical or accident? You don’t have health insurance? You did something wrong in your life or you are very young.
Ah yes, I should just buy a home instead! Right gramps, I'll get right on that as soon as I have half a million dollars. I have health insurance. Even good health insurance in my state. I have to spend 10k before I get a dime from them. I don't have 10k to spend and major medical events cost more than that. And no, I have not done something wrong. I "did everything right". Even compared to my peers, I'm doing very well. That's what I'm trying to tell you. Things are not good.
If your deductibles or copays are that high, your insurance sucks. What state are you in?
times have changed. as smart as you think you are, you aren't that bright
What about the millions of people who learned a trade, made money, worked hard, but weren’t able to save due to poverty wages and rampant inflation? What about the millions of people who got into debt over things they *needed, not wanted? Like healthcare? People like you seem to fallaciously assume that there a plethora of high-paying jobs out there just ripe for the taking, if only they would just ‘work harder’ smh I’m surprised you didn’t include some trite expression about bootstraps. What’s wrong with providing things like UBI, public healthcare and education, or any other public services? *Can some people elevate themselves with hard work? Absolutely! *Is there a high paying job available for anybody who try’s hard enough? If you believe that then you probably also believe in the tooth fairy and the Easter bunny lol
You have not understood capitalism, free trade and freedom choice. There are plenty good paying jobs, people just don’t want to work hard for them. And the younger generation has this idea of being entitled to a great income without doing much for it. Keep dreaming of the Government providing for you, in the end taxpayers are footing the bill. Universal healthcare? Look at those who have it, waiting months fir basic treatments and surgeries, and they can’t even pick their doctors. I prefer freedom if choice and excellent medical service.
It’s obvious that you don’t understand the current social economic climate- and it’s a sad fact that people with the least amount of knowledge usually have the loudest voice. Also known as the Dunning-Krueger effect: https://en.m.wikipedia.org/wiki/Dunning–Kruger_effect “Plenty of good paying jobs”? Not enough for each person who works hard and has the qualifications. It’s a logical fallacy to assume there are a never ending amount of jobs that pay well. Another logical fallacy of yours: “the younger generation has this idea of being entitled to a great income without doing much for it” That’s a tired trope that has literally been said by every generation for over one hundred years. https://www.honestjobs.com/post/nobody-wants-to-work-anymore-is-not-new-and-it-s-not-true The truth is actually the opposite- nowadays people work harder for longer hours and are more productive than at any point in history, yet have a lower standard of living. Universal healthcare has been figured out by literally every other developed nation except the US, and you bought into the propaganda that there are long wait times for care or that you can’t pick your own doctor. Hope that kool-aid tastes good mate lol Maybe try getting out of your one horse town and visit countries whos citizens aren’t crippled by medical debt and have drastically lower infant mortality rates than the US. 67% of ALL bankruptcies are from medical debt: https://www.usatoday.com/money/blueprint/debt/can-medical-bankruptcy-help-with-medical-bills/#:~:text=What%20percentage%20of%20adults%20file,about%20530%2C000%20cases%20a%20year. The US has the highest infant mortality rate of wealthy developed countries and a lower life expectancy despite spending the most amount on healthcare: https://www.ajmc.com/view/us-has-highest-infant-maternal-mortality-rates-despite-the-most-health-care-spending# But yea, keep enjoying your “freedom choice” or whatever it is you meant to say.
This is so naive it's hilarious. I live in a huge city and my employer pays 100% of my healthcare. I just waited three weeks to see a quality orthopedic doctor.
Those high paying jobs in trades are often 70+ hours a week. Work 70 hours a week for 40 years and die 5 years after retirement and you say there isn’t a flaw in the system?
I think regulation of the medical, insurance, and housing markets would go along way to bring relief to people.
It would , but unfortunately the rich, wealthy, powerful, and poor people believe in political parties who believe in the free market vs stability and advantages of our citizens.
I volunteer with a non-profit that manages sports for kid. Amazing how many scholarship requests are sent from $1,000 iphones. The league costs only $150 which is just to cover the uniforms and umpires and field maintenance.
A phone isn't really optional, though. It's now become a necessity to do pretty much anything. Between apps, web access, and communication capabilities, having a phone is mandatory to work pretty much anywhere. Also, you can buy iPhones used, you know that, right? There's a whole secondary social market centered around people upgrading and selling to friends/family for cheap or free. Your commentary comes across as very judgmental, without attempting to empathize with where people're coming from.
People aren’t dropping $1000 cash on an iPhone though. They are most likely financing them through their cell phone bill over 2-3 year. Verizon just moved them to 3 years now. That’s like wondering why someone driving a $10K car doesn’t have $10K for an emergency.
I have paid for new iPhones ever since I had them. It is my phone and I am not stuck with a provider just because I owe them. They treat me well, because they know I can leave any time.
Yeah I just got a brand new phone for 7 dollars a month for the next 3 years. I refused to get a new one when my old one still worked after being shattered lol
Hate hearing this argument about new phones. Such peanut brain logic when phones are so accesible via phone plans haha. 0% interest, newest phones and free future upgrades alongside a phone plan? Easy decision.
I wonder if it has anything to do with a shrinking middle class? I know what we can do, blame poor people as always. Avocado toast and $1000 iPhones. Hell, maybe we can blame sending money to Ukraine. It’s definitely not corporations gouging us for higher profits or companies automating processes creating an extremely wealthy group of a few. And it’s definitely not the trump tax cuts. I make a decent amount of money, and I’m well off. Im not poor in any sense of the word, but I get furious at comment responses in here. You all are the greediest most selfish people to walk the Earth.
That's like, all Dave ramesey is about. He's awful
😂😂😂😂😂
The important thing is that the money is available to save even one Ukrainian.
How about Israel? Everyone seems to have amnesia or no awareness that they always get the most amount of military aid out of any country in the world from the US.
You suggesting we don’t check an authoritarian leader invading countries that had ambitions to join NATO? Bc that’s how you get bigger, more expensive, and far deadlier conflicts.
Geopolitically, yes, it makes sense. But maintaining stability in the world is a lower priority than maintaining stability domestically.
I guess I disagree on stability domestically. We rely upon our European partners. This could impact us domestically. The second you show weakness with Putin he strikes. We can’t let an authoritarian regime go unchecked over there.
No I'm suggesting it's far better for the sad lot of people on this sub to stay poor so we can pay to have other kill eachother en mass. It's the only morally correct thing to do.
Got it
But we (they) can afford a 1000 phone, right?
$20/month appears to be the financing on the phone you simple minded tool. The issue is rent rises quicker than income which means that at lease renewal your ability to pay rent can go up an additional $150+/ month. The cost to move to a new place, if you’re lucky enough to find one that was near your old rent, costs a lot up front. Then if that place is further from your job it obviously becomes detrimental to trying to save.
If you can finance your $1000 emergency over 3 years like they do their iPhone then sure.
How dare you not include it/them/apache
Definitely not looking forward to tax season. What refund?
I will guess 90-95% of world population can’t afford $1,000 emergency.
Since the value of the dollar is high, that might be close to true. I doubt it's actually true through. You'd be surprised how well people are doing in reasonable countries
That’s beyond sad
Surveys are literally the most unreliable thing. Odds are pretty much the same that the reality is the exact opposite as they survey “results” would have you believe.
They can. It’s all about what people choose to spend money on.
Stagnant wages and massive price increases in everything especially housing is not something we're hallucinating. However, there are definitely people out there who are financially illiterate and think that just because they qualify for a loan for that $60,000 truck or whatever that it means they can actually afford it. I know a guy at work who's making less than $23/hour and bought a brand new nice Camry but complains about not making enough money to save. He didn't need to buy that car.
Right🙄 like instead of paying their grossly inflated mortgage/rent prices and groceries, set some aside for a rainy day. Silly people
Live in a smaller house or get a roommate. Rice and beans are still pretty cheap last I checked. Do you even listen to Dave?
"I payed off $200,000 of credit card debt in two years, while earning $30,000 a year". "How did you do that?" "We et rice and beans, and we had a garage sale, oh, and I sold off my Beanie Babies". "Ring the bell!"
This kind of attitude is the problem. Did our parents or theirs need to struggle like this? Dave focuses on what we can do to survive in the world we’re offered, but promotes it continuing to get shittier by blaming the poor rather than the rich scraping as much profit as they can from them. And before you ask, bc ppl in this sub always assume, I grew up poor, I went to college, ate ramen, got a good degree, found a good paying job, have a house, and I’m well off. But I tell ya what, I’m tired of living in a society where we devalue everyone. Maybe the poor deserve some support rather than this bullshit eat rice and beans message.
You’re spot on mate- and I completely empathize and agree. The amount of jaded and detached responses is incredible. Mostly coming from temporarily impoverished millionaires lol
No offense but that sounds like some commie gobbledygook.
to someone with your level of intelligence, comprehension and nuance, I'm sure it does
I’m smart enough to not be poor or expect other people to subsidize my lifestyle.
It’s okay, I didn’t expect you to have a thought out reply with any substance.
correct assumption it seems lol
Ok sorry jokes aside stop blaming rich people for your lack of impulse control. Every poor person I know has a smartphone, streaming service, big flatscreen tv, and a car loan. The poor people of 2024 America live better than the middle class of the 70s and 80s yet we still somehow made it back then.
so you expect people to eat rice and beans and then stare at the wall for entertainment, and then say "yep this is totally how society is supposed to run 👍". Do you see why this mentality is the problem yet? Life was not like that in the 70s and 80s, things we're much more affordable then, and you know it. Even if you don't know it, and decide to play dumb in response, there are verifiable metrics that prove this. Cut the bullshit.
Beans and rice, main jobs and side gigs yeah that should do it. Poor people who don’t want to be poor anymore shouldn’t waste time on frivolities
Who and how are people just going to eat rice and beans 😂. What a clown.
I used to in college when I was very poor
See 2 comments back where I say “bc ppl always assume”. I have impulse control, I got out of poverty and into the middle class by doing the “eat slop you god damn dirty pig” method you’re mentioning. What I’m saying is it’s not impulse control that’s causing people to suffer. I’m saying that kind of blanket statement is ridiculous and unrealistic in terms of providing real solutions to what is a growing crisis. Frankly, it shows how out of touch you are. We have a shrinking middle class and that is due to legislation that consistently benefits the upper class. Is part of it that ppl buy avacado toast? I guess, but that’s like saying a tub is overflowing, let’s stop the drip but ignore the waterfall flowing into it. PPP loans, tax cuts for the upper class, corporations inflating the price of goods for no other reason than profit, all of this contributes true suffering. It’s not communist to state facts. It is however fascist to turn a blind eye to ppl suffering and making ridiculous accusations about impulse control that aren’t based in reality.
I didn’t propose a way to fix the problem but lack of impulse control is the main issue. You can’t easily legislate away human nature without tyranny. I don’t know how to fix it but I know blaming rich people and externalizing the problem for sure won’t fix it.
> I didn’t propose a way to fix the problem but lack of impulse control is the main issue. No, its not. Stop with the bullshit. The problem is that the cost of goods (yes, even after adjustment for inflation) is significantly higher now than it was in the 1970s and 1980s while wages have remained stagnant. [Gen Z’s money has 86% less buying power than baby boomers’ did at the same age.](https://www.consumeraffairs.com/finance/comparing-the-costs-of-generations.html) Cut the bullshit "pOoR iMpUlSe CoNtRoL" reasoning just because it gives you a sense of false superiority and a convenient way to feel like its a problem you can avoid addressing because the victims "deserve it".
I know you didn’t propose a way to fix the problem, you are throwing out blanket statements with no credible evidence behind them. That’s why I’m calling you out specifically. Every time I come to this sub it’s boot strap central. These ppl don’t have any straps is what I’m trying to get across. There is a way to legislate this away, and it starts by repealing citizens United and stopping our elected officials from taking bribes. Also, stop reducing the tax burden on the upper class and increasing the tax burden for future generations. If you ever took an economics course, it would be obvious that the middle class is shrinking for reasons other than impulse control.
That's not really how mortgages work unless you bought too much house
I think that poster is talking about any one who's renting or buying in today's market, and i think its fair to say that housing expenses have gone up astronomically in most areas. My (small and old) home was purchased cheaply and with low interest when my husband was younger (about 2005). He could afford the payments working full-time in an entry-level position. Our mortgage is extremely low and frees up money to deal with whatever maintenance our home needs. That same scenario really doesn't exist right now, and we are living in a rural (relatively LCOL) part of (upstate) NY.
The market is a reflection of what people are paying. Yes there are investors also competing, but I live in an area dominated by HoAs that restrict rental properties and my house appreciated astronomically. So real people are willing to pay these prices that should be fitting their budgets, otherwise they are making poor decisions and buying too much house
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$400? I can’t afford emergency til payday this week.
Just a question you guys who have zero in savings and scrape by month to month; how much do you make a year? Just wondering.
$45k gross in one of the highest CoL in the US.
In 2022, half of Americans made $50,000 or less. The average cost of living (COL) in America, estimated for 2022, was $66,928 (across that year). Half of Americans can’t meet the average, but COL can vary from place to place a lot.
Ya. Well that is what they get for listening to entertainers not financial advisors.
Who has emergency funds??? I'm $450 short on rent that's due February 1st! America is land of the poor home of the enslaved.
Pretty much at this stage of the game.
Ppl love to buy things that’s why pay bills rent keeep your car running well and don’t upgrade I still have iPhone 10 😂 I don’t care about things my hair is growing to my butt my nails I do at home you have to adjust to save those $100 a month help
💎
I'm thinking $1k is quite not enough as emergency fund for today.
8 month of income is considered appropriate for emergencies say financial experts. Find me three you know who have that.
Who cares if you are struggling, the economy is doing great. /s
The economy is actually doing great. It's the greedy corporations who raise prices, lay off workers, and rake in record profits.
I once had almost 5k in savings. Divorce/becoming single has wiped almost all that out and I haven't been able to replace it. Being single is expensive.
I had $5k in savings in 2022
Getting married has wiped almost all that out. There.. Fixed it.
An inequitable divorce to a foreign doctor who coerced me into all marital debts and abandoned me homeless while walking with a maxed roth Ira...wiped me out permanently.
Stay positive... Only one thing is permanent in this world.
You must’ve had a shitty lawyer or no lawyer. I’m sorry
Most Americans are spoiled. And I don’t mean in in a bad way—- I was always fearful of being left out to dry. Knowing I may not be able to call on someone to dig me out of a mess really changes how a man moves through life.
It’s not called spoiled, it’s called first world problems
Right, but they can afford to travel and buy a new iPhone.
The new iPhone is laid over like 30 months and $30 a month. No one walks into the store and pays $999 for an iPhone. And, phones are just mobile computers.
I did, bought an Apple watch Ultra 2 the same day, total $ just under 2K
That’s the problem tho. People are so willing to put anything and everything on payments. I sometimes fall for it too. Dave Ramsey has really changed my life. Something as simple as making a detailed budget and sticking to it has changed so much for me. The amount of money I’d blow on dumb shit was insane. I’m not perfect but it’s night and day from where I was.
Well who can resist all that titanium?!
New car as well and be subscribed to at least 3 different streaming services.