Nearly 40% of Americans can't cover a surprise $400 expense

[saturn7]

Why U.S. Workers Aren't Feeling the Impact of Wage Gains

"since 2000 we've added $10,000 in real GDP ... and yet real household income has been stagnant"

 

[saturn7]

Why so many Americans in the middle class have no savings

 

[Master Teacher]

You're still describing individual situations, not an entire scope.

Nobody can say America is like a third world country. America has the resources to ensure every American has the necessities needed for life. A third world country does not have this capability.

It's not individual circumstances, it was most of the country looks like, most of the country is ghettos, hoods, and rural wastelands this makes up most of america the nice areas are the minority everywhere in the country

The fact this is suppose to a first world counrty and you have multiple regions comparable to warzones, is damning enough

 

[knickscity]

It's not individual circumstances, it was most of the country looks like, most of the country is ghettos, hoods, and rural wastelands this makes up most of america the nice areas are the minority everywhere in the country

The fact this is suppose to a first world counrty and you have multiple regions comparable to warzones, is damning enough

America has the capability to correct those situations, they don't because there is no pressure to.

 

[King Poetic]

Can’t imagine the percentage for blacks... probably 80%

 

[ThrobbingHood]

Haven’t read the whole thread but I’m shocked at how many people live hand to mouth. I guess that’s easy for me to say since I work in finance but even when I was young, I knew the importance of saving.

When I started my first job straight out of college, I made sure half of my pay check went into my savings. This meant I had to miss out on a lot of luxuries early on, but that allowed me to live in a nice apartment a few years later.

Then when I started my first career job, I would put 60-70% of my pay check into my savings. Years later, I had my first house and a car.

Now, I had have three funds. My instant access savings, which will cover me for 3 years if I lost my job.

My emergency funds which would cover me for 10 years if I lost my job.

And then my life savings which I could theoretically retire on.

I’m just amazed at people who don’t have the incentive to save. I get enjoying the money you work hard for but your job isn’t promised as well as tomorrow.

 

[Wink Beaufield]

There will always be an outlier of someones opinion.

Well, how about a UN report then?

OHCHR | Statement on Visit to the USA, by Professor Philip Alston, United Nations Special Rapporteur on extreme poverty and human rights*

Sit down and read it because that report goes into the full details of why they came to their conclusions.

 

[Bumblebreh]

What 1st world country have you been to that looks like the worst parts of usa?

dudes is being ignorant on purpose.

America has the capability to correct those situations, they don't because there is no pressure to.

And there is a profit to be made form exploiting the poor and the vulnerable.Look at the prison industrial complex. Look at wage exploitation.Look at the war on drugs.
Meanwhile we can spend over 600 billion dollars on military expenses.

 

[UberEatsDriver]

Man I have never seen so many concentrated homeless people in other major cities that are home to some of the wealthiest people in the country.I have been to london,paris and I have only seen a handful.

Never been to Paris but I heard their homeless population is bad also. But you’ve been there so I’ll trust your word as well.

 

[NotAnFBIagent]

Haven’t read the whole thread but I’m shocked at how many people live hand to mouth. I guess that’s easy for me to say since I work in finance but even when I was young, I knew the importance of saving.

When I started my first job straight out of college, I made sure half of my pay check went into my savings. This meant I had to miss out on a lot of luxuries early on, but that allowed me to live in a nice apartment a few years later.

Then when I started my first career job, I would put 60-70% of my pay check into my savings. Years later, I had my first house and a car.

Now, I had have three funds. My instant access savings, which will cover me for 3 years if I lost my job.

My emergency funds which would cover me for 10 years if I lost my job.

And then my life savings which I could theoretically retire on.

I’m just amazed at people who don’t have the incentive to save. I get enjoying the money you work hard for but your job isn’t promised as well as tomorrow.

Breh how many people do you think make enough money to save half their paycheck and still live?

 

[ThrobbingHood]

Also, I can’t have sympathy for anyone who claims to be broke but they keep on having children. I’m talking about married couples as well as single parents.

I’ve heard this so many times from supposedly well off people. Saying how they can’t cope with the expenses their children incur.

I tell them straight “no one told you to keep on having children.” And then they look at me like a heartless a$$hole, but they have no rebuttal.

I know if I had a child, more than half of my savings wouldn’t have existed. I’m glad I didn’t slip up and knock up anyone. When I see how much parents spend on their children, I just thank the lord my pull out game is strong.

 

[knickscity]

Haven’t read the whole thread but I’m shocked at how many people live hand to mouth. I guess that’s easy for me to say since I work in finance but even when I was young, I knew the importance of saving.

When I started my first job straight out of college, I made sure half of my pay check went into my savings. This meant I had to miss out on a lot of luxuries early on, but that allowed me to live in a nice apartment a few years later.

Then when I started my first career job, I would put 60-70% of my pay check into my savings. Years later, I had my first house and a car.

Now, I had have three funds. My instant access savings, which will cover me for 3 years if I lost my job.

My emergency funds which would cover me for 10 years if I lost my job.

And then my life savings which I could theoretically retire on.

I’m just amazed at people who don’t have the incentive to save. I get enjoying the money you work hard for but your job isn’t promised as well as tomorrow.

I salute you for being able to accomplish this, not many are able or have "resources" to offset what they aren't spending themselves, which I do suspect was in your case.

 

[Houston911]

Damn

 

[ThrobbingHood]

Breh how many people do you think make enough money to save half their paycheck and still live?

I came out of college BROKE.

I worked a shytty retail job and lived in a run down crappy apartment. My parents had the means to put me up for 5-7 years if they wanted to, but I guess I’m prideful and I chose to make it on my own.

I budgeted by not spending my money on frivolous crap. My money went to my rent first, bills and then food. That left me with 60% of my pay check. That 10% I used for luxuries once or twice a month.

If people didn’t spend their money on silly shyt, it would be more than feasible to save at least half of your pay check. But people don’t want to live within their means, or they want to keep on producing kids they can’t afford.

Also, it’s about putting your money into things that appreciate: guns and butter baby.

 

[Skooby]

Usa aside from ny, la, fl, tx, is mostly a 3rd world country

Add DC area to the list.