Once you get above a certain income level no one scrutinizes your poor financial decisions.
62% of Americans have less than $1000 in savings
- Thread starter Koba St
- Start date
Once you get above a certain income level no one scrutinizes your poor financial decisions.
Okay, so what? Most of those who benefit from large tax returns are single parents. Your average single mom in the hood might be making $12.50 per hour taking care of two to three kids (how else do you get the refund). A lot of the "blowing" of the money comes from catching up on outstanding debt accumulated throughout the year due to inadequate household income. The remainder of the "blowing" stems from splurging on luxuries for herself and the children. God forbid someone does something more than work on this Godforsaken rock. It's already been stated that most Americans live check to check. There's a statistic that states that average household will live check to check until it reaches an annual income of 130K. So, on one hand we have those who will look upon Roger Wentworth with a nicefor buying that new 4K TV which he maxed out two credit cards to finance (unbeknownst to you) and on the other we look at Shanequa Jones with disgust as she buys a PS4 for her three boys (how DARE she
). There's an income level bias when it comes to living beyond your means.
You're turning this into something else just to argue
62% of Americans aren't living below the poverty line or single parents.
A large percentage of that 62% have bad spending habits.
beaniemac
Rap Guerilla
I totally believe this. a truly frightening statistic.
beaniemac
Rap Guerilla
But spend a couple grand during Christmas
and has a new car and goes on an annual cruise
[Jay] don't confuse me with them, im different [/Z] 
MajorVitaman
Superstar
But spend a couple grand during Christmas
That's what I'm saying lol
nikkas go all in their already shallow pockets to give everyone money smh...
That self hate is so strong nikkas would rather go broke & make someone else rich than to have wealth for themselves and save/invest.
beaniemac
Rap Guerilla
Bad spending habits
There's people well into 6 figures that live check to check, people make more money and spend more money instead of living the way they lived before they were making a lot of money.
One of the dumbest things I see people do is buy nice ass cars while still paying another nikka rent. You could've put that money towards a house and had something that doesn't depreciate to show for it but you rather try to look nice on the street for nikkas that don't give a shyt about that outside of a quick glance or two
my boy's former business partner was living check to check while making over 150K a year. dude was going out and partying all the time, had child support form a divorce, and snorting away his money. he didn't even own a crib and his car was just a nissan maxima
Most people aren't purchasing brand new luxury cars while living in abject poverty either.
sportscribe
Superstar
This is the result of have a financial system operating almost solely on credit.
his car was just a nissan maxima
That was a relatively good financial decision, was it not?
The average American doesn't realize how poor they really are until they no longer have access to lines of credit.
beaniemac
Rap Guerilla
just trying to reiterate that dude didn't have jack shyt to show for making that kinda income. to this day, dude makes over 100k, and still broke. he lives at his broad's crib and barely has a pot to piss in.
Savings accounts are outdated and a bad place to store money. I don't have a savings account but I have an interest bearing checking account that I leave at 1k every two weeks after paying bills. I then have a couple rewards credits cards with limits of about 75k that I use between pay checks and payoff every two week. I put every other penny I have in a 401k/pension/IRA. I suspect most people my age with modest incomes have the same setup. I say all that to say the statistic is misleading and really meaningless.
my boy's former business partner was living check to check while making over 150K a year. dude was going out and partying all the time, had child support form a divorce, and snorting away his money. he didn't even own a crib and his car was just a nissan maxima
I see it at my job ( we ain't 6 figure nikkas tho
) my girl used to be a manager at those shytty payday loan places and she saw people with nice ass incomes getting those terrible loans regularly How do you blow money to the point where you need to get a loan marked up to damn near double
And I didn't say most people were, you're arguing just to argue.