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

  1. #31
    A Blue Dog Jets Fan Jets's Avatar
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    Quote Originally Posted by HayJenn View Post
    We have told our kids over and over again - live beneath your means.
    Unfortunately, there are too many parents not living up their own advice!

  2. #32
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    Quote Originally Posted by Kallie Knoetze View Post
    Mr. splansing,

    How will one person pay nothing like before, and someone else paying more make the first person more well off?
    If I fund a tax break for you and other very wealthy people, corporations and bankers, the government will have less money to fund its programs. That will mean fewer services for the population at large, or the costs of those services will rise. So as a class (poor or middle class), we are funding your tax break by paying more.

    You're fucking with me, right? You don't understand how me keeping more of my money helps me?

    I don't believe you.

  3. #33
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    Quote Originally Posted by Ian Jeffrey View Post
    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.
    I don't know why there is no Thanks button sometimes. So I'll just do this instead.

  4. #34
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    Quote Originally Posted by Jets View Post
    Unfortunately, there are too many parents not living up their own advice!
    Probably true - parents set the example.

    Was glad to see that when my daughter got her new job - the first thing she did was sign up for their 401 K plan.

    But on the other hand I do know people who are living paycheck to paycheck by no fault of their own. Death of spouse, a very serious illness, getting injured on the job and can no longer work....or they just are not getting cost of living wage increases...

  5. #35
    Veteran Member Isalexi's Avatar
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    Quote Originally Posted by Kallie Knoetze View Post
    Mr. Splansing,

    Or better yet, stop spending money on crap they don't need.
    Like food...they don't need that.
    Thanks from Ian Jeffrey

  6. #36
    Veteran Member Isalexi's Avatar
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    Quote Originally Posted by Kallie Knoetze View Post
    Mr. pill,

    that was then. Now they eschew financial understanding in lieu of teach feeling good about yourself.
    Maybe you should educate yourself and check the curriculum for family living /sex education curriculum. Learning about personal economics is part of curriculum....it was fun to teach. They had no idea about credit. One of my 14-year-old told me that he was sent a credit card. My daughter had a similar experience

  7. #37
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    Quote Originally Posted by Ian Jeffrey View Post
    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.
    Mr. Jeffrey,

    All those are not assumptions, but rather, truisms.

    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; and 2. That people are building large amounts of debt by buying things they do not need.

    40% of America?s lowest-income families? consumption goes on luxuries - MarketWatch

    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.

    Boo hoo, verses living in squalor and staying put because you don't have the motivation to move?

    4. That people have any disposable income to begin with, such that they can save for retirement.

    That's exactly the problem. Savings and retirement is not disposable income, but rather, a necessity. If people would treat it like that, like food and shelter, there would not be such a great issue.

  8. #38
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    Quote Originally Posted by Isalexi View Post
    Maybe you should educate yourself and check the curriculum for family living /sex education curriculum. Learning about personal economics is part of curriculum....it was fun to teach. They had no idea about credit. One of my 14-year-old told me that he was sent a credit card. My daughter had a similar experience
    Ms. Isalexi,

    If that is the case, then you know that your situation is a very rare example.

  9. #39
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    Quote Originally Posted by Isalexi View Post
    Like food...they don't need that.
    Ms. Isalexi,

    No, more like an I-phone, a fancy car, and designer clothes.

  10. #40
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    Your link refers to this as "dismal science" and goes on to explain where the flaws are in the analysis.
    Thanks from jacobfitcher

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