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Thread: This is hard to believe: 76% of people live paycheck to paycheck

  1. #21
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    Quote Originally Posted by BitterPill View Post
    I was required to take an economics course to graduate high school, and that was here in California.

    I got the diversity training on my own dime.
    Mr. pill,

    that was then. Now they eschew financial understanding in lieu of teach feeling good about yourself.

  2. #22
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    Quote Originally Posted by HayJenn View Post
    Or parents could just teach them like we did.
    Ms. HayJenn,

    Sadly, that seems like a snowball rolling down hill. Today's generation did not learn those lessons from their parents, and will likely not teach the next.

  3. #23
    A Blue Dog Jets Fan Jets's Avatar
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    I'm not surprised by this. Our culture has too many people with the "I want it now" mindset. There was a time when people had to save money and wait for a certain amount of time to pass before making that heavy purchase. Now, plastic and /or loans allow people to indulge their impulsive natures and not worry about much except that minimum payment. That's fine until serious bills start coming in and the household debt sinks them completely.

    My two cents

  4. #24
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    I agree that the lack of basic personal finance training in high schools is verging on a crime. I believe there are tax inequities that favour the rich in ways that hurt the robustness of the middle class.

    But equally well there is a disturbing (to me, not to marketers) trend of more and more people succumbing to their wants, rather than needs and buying that shiny new car when the old one had lots of good years in it or wasn't as big as the one the neighbors just bought. And that $75,000 Winnebago that sits in the driveway 51 weeks a year is just so nice to have on those long vacations you never take and so what if you are barely bringing home enough to meet monthly bills, you sure got a big Winnebago and shiny big car.

    And there are tons of other examples of that.
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  5. #25
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    Quote Originally Posted by Kallie Knoetze View Post
    Mr. slansing,

    Again, I don't see the logic of someone thinking they will be more well off if someone else pays more.
    You don't understand how if we split the bill, and I pay less, and you pay more... You don't see how I'm more well off?

    God, how should I put this...? I really don't know where to start.

  6. #26
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    Quote Originally Posted by Jets View Post
    I'm not surprised by this. Our culture has too many people with the "I want it now" mindset. There was a time when people had to save money and wait for a certain amount of time to pass before making that heavy purchase. Now, plastic and /or loans allow people to indulge their impulsive natures and not worry about much except that minimum payment. That's fine until serious bills start coming in and the household debt sinks them completely.

    My two cents
    Mr. Jets,

    Exactly. Like I said in my top post, I wish basic financial management was a required course in high school.

    Interesting. I was watching Judge Judy yesterday (o.k., I admit it, you found my vice). A young girl was working, then would cash her paycheck, then give a portion to her guardian to deposit in her bank account to save. The issue was the claimed her guardian has stolen some of the money. The first question Judge Judy asked was "how much did you give her?," a question she couldn't answer. There are some many things wrong with what she did with her money, I've no doubt she'll live a life of just getting by.
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  7. #27
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    Quote Originally Posted by splansing View Post
    You don't understand how if we split the bill, and I pay less, and you pay more... You don't see how I'm more well off?

    God, how should I put this...? I really don't know where to start.
    Mr. splansing,

    How will one person pay nothing like before, and someone else paying more make the first person more well off?

  8. #28
    Spock of Vulcan Ian Jeffrey's Avatar
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    There are a number of unjustified assumptions being made here.

    1. That people are buying expensive things they do not need - and that they have enough money or credit to buy expensive things they do not need.
    2. That people are building large amounts of debt by buying things they do not need.
    3. That people have enough money or credit to move at all, much less to move to where there are more jobs they qualify for.
    4. That people have any disposable income to begin with, such that they can save for retirement.

    Those are just the basic ones off the top of my head. In any case, when 3/4 of the population is stuck living paycheck to paycheck, it is not unreasonable to posit that the problem is socio-political, rather than that people are getting dumber.
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  9. #29
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    Quote Originally Posted by Jets View Post
    I'm not surprised by this. Our culture has too many people with the "I want it now" mindset. There was a time when people had to save money and wait for a certain amount of time to pass before making that heavy purchase. Now, plastic and /or loans allow people to indulge their impulsive natures and not worry about much except that minimum payment. That's fine until serious bills start coming in and the household debt sinks them completely.

    My two cents
    We have told our kids over and over again - live beneath your means.
    Thanks from Jets and BigLeRoy

  10. #30
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    Quote Originally Posted by HayJenn View Post
    Or parents could just teach them like we did.
    Lots of parents are single parents working more than one job. Don't have time to do so. Or they may not know themselves. I took civics and consumer education it was mandatory. My parents never made it past 9th grade.
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