"Americans ain't saving enough money" - CNBC

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This isn't an American thing this is a western things the savings rate across the board is dismal. The west loves spending above their means. The convos one has with people in the West and their ideas about money are crazy. Other places I have gone if your not saving 35% or more people look at you funny style.

The economic models that are in place aren't sustainable. Wage stagnation is true but people need to live way below their means way below.

 

[---]

This isn't the norm. you pocket watching and hating. foh


These articles totally ignore LIFE


Nothing you named is bullshyt


So because people are at the mall it means that they are managing their finances? WTF.







The people that get left with your assets are going to spend that shyt right away because they didnt earn it. So the assets you spent a lifetime acquiring are going to be spent on bullshyt in an instant

This makes no sense financial planners do exist and carry out commands on what to do with the money you left.

 

[---]

Watching Americans (the richest people in the world, living in the richest country in the entire world) complain about not having enough is just

Even American poverty means we live better than most people around the world because you still have access to resources and systems that most of the worlds population does not

Y’all don’t want to admit that y’all are addicted materialism and hypnotized by American consumerism

All these brands, smartphones, TVs, we don’t need and y’all complaining about not having enough

This is nothing but facts, but it's okay while everyone in America over spends there is a legion of people with saving ready to buy portions of the country up for pennies on the dollar. Cats better hope and pray that America dollar will remain the reserve currency for a long time, if you think shyt is hard now. Once musical debt chairs is up, it's up!

 

[Dameon Farrow]

Info

shyt prices for electric, gas, water, internet etc all keep going up. Inflation’s a motherfukker. How the hell you expect people to save up when salaries stay stagnant.

Business wanna keep automating too. Getting folks out the paint and out of a good salary.

They get fukked now on taxes. People talk on the cheap real estate here in Louisiana and, compared to other states it's low but the coastal shyt is wayyyy to expensive. Slidell, Mandeville areas? All that shyt is overpriced just for the hell of it in my eyes. One major storm or flood comes through and if you don't have flood insurance, you're just fukked.

But the main thing is they pay high property taxes. Folks don't think about that at all. It's worth a bit of research.

 

[Dameon Farrow]

All the time and energy spent chasing higher minimum wage should have been used to push price caps.

A higher minimum wage doesn't get you out of the clutches of the Beast if said beast will just get hungrier.

People never wanna hear about price caps, though. They think minimum wage increases is a solution that simply has to work at some point. If minimum wage increases was a solution you'd only need to raise it once.

 

[AceAge]

Damn breh we’re like exact twins w/ that statement

And it really can get frustrating. If you told me as a high school kid what I’d make now I would have assumed I’d be saving a couple thousand every month

Wages haven’t grown at nearly the same rate as living expenses over the last 2-3 decades, that simple.

Living expenses are a trip, but I never sweated those. Food, clothes, and transportation are always necessities so I never minded paying for them, and I haven't experienced anything crazy other than when gas was $5 a gallon back in the early 2010's. I don't have any debt or bills other than rent and living expenses, but over time that extra money adds up. Like I said, I think a fair rent price for where I am is $1,000/month with utilities included. They charge $1,400. That's an extra $4,800 a year and if somome rents for 5 years like most people do while they're saving for a home that's over $23,000. Which is a down payment on a home in itself. Multiply that by all the units in the building and the property owners are sitting lovely on all the extra money. They could charge $1,000 month for rent and still make a killing, but they know they can charge $1,400 and people will pay it so they do, and make an even bigger killing. I save 50% of my earnings and spend the rest, which is better than most, but if I had kids I'd just be working to survive, which is a horrible quality of life, regardless of whatever entitlement syndrome BS the baby boomers spew out.

 

[Wild self]

All the time and energy spent chasing higher minimum wage should have been used to push price caps.

A higher minimum wage doesn't get you out of the clutches of the Beast if said beast will just get hungrier.

People never wanna hear about price caps, though. They think minimum wage increases is a solution that simply has to work at some point. If minimum wage increases was a solution you'd only need to raise it once.

These Re Thug posters say that price caps doesn't "expand the economy"

 

[Dameon Farrow]

These Re Thug posters say that price caps doesn't "expand the economy"

They don't know shyt.

There is no logical reason for someone to pay $1200 a month mortgage in a flood zone where a storm like Katrina can come and wipe the whole foudation out. That's pure greed. Price caps would straighten that out fast.

The right will use any excuse to keep the poor bent over. Any at all.

We need a reset on all this shyt.

 

[Wild self]

They don't know shyt.

There is no logical reason for someone to pay $1200 a month mortgage in a flood zone where a storm like Katrina can come and wipe the whole foudation out. That's pure greed. Price caps would straighten that out fast.

The right will use any excuse to keep the poor bent over. Any at all.

We need a reset on all this shyt.

Or a logical landlord that would be generous for publicity, like LOWERING rents and have his whole building cheering for him on the News, and having Twitter and other internet articles cheering him, like he the CEO of COSTCO who pays their employees $17 starting wage. If only a landlord was as smart and generous as that.....

 

[sportscribe]

There is also the problem of a society that is sustained by rampant commercialism. People conflating their wants with their needs.

Everything in America is geared to make you spend more, and the consumers duly oblige. You are basically a cog in the machine. The system needs you to keep spending to keep stock prices up while the gentry reap the rewards via increased profits, salaries and dividends. Banks need you to spend more so they can hit you with surcharges and hidden fees. TV shows need you to watch more so they can charge more for their advertisement space. The advertisers need you to consume more so they can pay for said advertisement space. All the while you are hit with taxes at county, State and Federal levels. Even for-profit educational institutions condition you to accept this as a normality. Sure you can blame wage stagnation, but individuals themselves need to show restraint when it comes to spending.

A savings account is fine, but there is simply no better investment you can make than investment in land. Unfortunately you don't know when the gov can take your land from you under the guise of eminent domain. Y'all better learn fast that the future is in Africa. Get you a friend from the continent and invest in land.

 

[joeychizzle]

If you make 50, live like you make 25. If you make 100 live like you make 25. If you make 25, live like you make 15.

 

[-DMP-]

bitcoin>savings

 

[kevm3]

Watching Americans (the richest people in the world, living in the richest country in the entire world) complain about not having enough is just

Even American poverty means we live better than most people around the world because you still have access to resources and systems that most of the worlds population does not

Y’all don’t want to admit that y’all are addicted materialism and hypnotized by American consumerism

All these brands, smartphones, TVs, we don’t need and y’all complaining about not having enough

The problem is the trend. We are regressing. Do you want to pass a worse future off to your kids?

 

[beenz]

I already save 10% of my gross check along with contributing to my retirement. but stacking 2-3 times one's annual gross salary is a bytch.

 

[beenz]

The government takes like 30 percent of my check off the top, then my work takes 7 percent for pension and deducts on top of thaa for dental and health, then I gotta pay for parking, then I gotta pay for gas, car insurance, my share of the mortgage, groceries

I got like a 0.7 percent raises this year but thanks to the minimum wage jumping 3 dollars everything has gone up in price.



Alot of these I have 30k in the bank by thirties are cacs, uncle died and got their inheritance etc

yup, black folks are waaaayyyy behind our white counterparts. my buddy is white and while he's extremely financially savy, he did benefit from not having student loans plus inheriting property that he ended up selling for six figures.

I started from nothing and have a pretty good sized nest egg all on my own. I could be better, but I'm doing better than most folks.