Why Upper-Middle Earners Are Living Paycheck to Paycheck

[ill]

I remember making 90k in SF. It was cool. Had a rent controlled spot in Inner Richmond.

shyt was pretty nice. I was definitely getting more out of it than my friends paying double elsewhere.

That said, at the end of the day when I got a promotion and had the option of moving back east and keeping my salary it was a no Brainer even though I miss the bay.

Housing cost are crippling. Throw in student loans and childcare and I see how people end up being paycheck paycheck. Especially if they aren't in a good dual income home.

Soooo it sounds like you did what @the cac mamba has been saying and you took some responsibility and moved to a lower COL area so you could eat better?

 

[Pressure]

Soooo it sounds like you did what @the cac mamba has been saying and you took some responsibility and moved to a lower COL area so you could eat better?

I actually pay more money to live in NC. I just have a lot more space.

 

[ill]

I actually pay more money to live in NC. I just have a lot more space.

NC on the come up. Had a few friends move there in recent years

 

[Serious]

NC on the come up. Had a few friends move there in recent years

They sure are, just hosted the RNC

 

[ogc163]

Breh come on you better than this, especially since I know you read the NYT a lot.


Private schools? And good school districts are a luxury. Like I said, to build your safety net, all I'm saying is to scale back your lifestyle for a couple months, but people making 100k can't even do that.

And people making 100k, usually have debt, ok so you think dishwashers and barista's don't have debt?

They probably have a significantly higher interest rate on their debt. Who do you think goes to these for profit colleges(ITT Tech, Devry, Everest) then takes out high interest loans? Who do you think keeps payday loans and check cashing spots afloat? Someone making 100k?



This is why I say y'all are out of touch with reality. I've worked with these people, I've seen what they go through.

But look I think that society's taxes should go towards strengthening a social safety net, like free education, healthcare, etc... Not a gigantic military.

Not sure why the fact that I read the NYT is relevant.

If you think it's simply a matter of scaling back a couple of months in these places then its apparent you are not around alot of these folks. I've stated in other threads that the big decisions are what move the needle and unfortunately they have to be made relatively early for Black professionals; deciding not to have kids or buy a house is what moves the needle, taking on a roommate for a couple of months does not.

I didn't state nor imply that they don't have debt, but as a % of expenses it generally is not the same. Especially when you take race into consideration.

Aren't you in threads often letting folks know of your middle class upbringing? Lol the notion that you are more in touch with struggle and working class lifestyles than someone born and raised in the South Bronx is funny.

Kudos to you for not taking on debt for grad school but you clearly feel some type of way towards folks who actually went on to attend grad school. And why you keeping tagging Barnone? That man already let you know he doesn't respect your intellect. ​

 

[Pressure]

NC on the come up. Had a few friends move there in recent years

I've seen a lot of folks from up that way move down. A lot of them move out to the burbs and buy a house. I think they're used to taking long commutes into the city so it's good value.

They sure are, just hosted the RNC

shyt a damn ghost town. They even have churches locked up in the perimeter.

I gotta post some shots at some point. Looks like a war zone.

 

[dora_da_destroyer]

I get the col in major cities, what I’m saying is, they should probably be frugal for a bit so they can save up and build a next egg / a decent saving then they can navigate a bit more freely. Seriously that would probably only take 2-3 months. No one is saying live with parents or have roommates permanently. But the notion that dishwashers and baristas live in the same city and are forced to budget and survive, means that it’s not impossible.


People in here a seriously crying when there’s a lot of people in these cities not making anywhere close to that.

Because what y’all are telling me is that I’m in a significantly better position than a lot of people making double what I make(67k).

people making less and still living in the same cities has nothing to do with the fact that you can make triple and sill be check to check...baristas may be living with 5 people in a 1 bd apartment, a 6 figure person might be two people to a 1 bd apartment (most SF apartments, someone is living in the living room...)

furthermore, there are tons of articles about teachers, police, nurses, etc that cannot live in the city they work - those are the people who should be able to be close to their jobs yet they live 1 hr+ out

 

[Serious]

Not sure why the fact that I read the NYT is relevant.

If you think it's simply a matter of scaling back a couple of months in these places then its apparent you are not around alot of these folks. I've stated in other threads that the big decisions are what move the needle and unfortunately they have to be made relatively early for Black professionals; deciding not to have kids or buy a house is what moves the needle, taking on a roommate for a couple of months does not.

More than one way to skin a cat breh.

I didn't state nor imply that they don't have debt, but as a % of expenses it generally is not the same. Especially when you take race into consideration.

Aren't you in threads often letting folks know of your middle class upbringing? Lol the notion that you are more in touch with struggle and working class lifestyles than someone born and raised in the South Bronx is funny.

My family is still black right? My mom didn't really start making money until I was almost out of high school. There were still periods where things were rough financially. My family isn't the most financially savy set of individuals. I've been broke as heck, with debt as far as my eyes can see. I started working when I was 16. I have worked a series of service jobs throughout my life, even after college. This is what made me change my perspective on life. I So don't try to hit me with that i don't know the struggle bs. I've worked crappy jobs, with no prospects in sight.

A lot of y'all ivory tower cats here legit just graduated hs, then graduated college then went to law school. Breh I've busted my ass since I was 16, working all kinds of service jobs for bs wages, while being in a debt trap and going to school. The point is, I got out of it by scaling back on my lifestyle and building a nestegg.

Kudos to you for not taking on debt for grad school but you clearly feel some type of way towards folks who actually went on to attend grad school. And why you keeping tagging Barnone? That man already let you know he doesn't respect your intellect. ​

Not at all, it was just a cost benefit analysis imo. I had an experience with debt early on and i didn't like it. If I'm not getting a free ride then I'm not taking out an 80k loan with interest.

we all know Barnone is lurking around the corner.

What y'all aren't going do, is try have me sympathizing for people making 100k, over service workers who legit don't make enough. That's disgusting.

 

[Pressure]

What y'all aren't going do, is try have me sympathizing for people making 100k, over service workers who legit don't make enough. That's disgusting.

Aren't the same economic stressors affecting both groups?

 

[dora_da_destroyer]

I actually pay more money to live in NC. I just have a lot more space.

what part of NC are you? i'm considering moving out there

 

[Pressure]

what part of NC are you? i'm considering moving out there

I live in Charlotte. Just outside the center city.

People tend to be either end up in Charlotte or Raleigh area from my experiences.

 

[Serious]

people making less and still living in the same cities has nothing to do with the fact that you can make triple and sill be check to check...baristas may be living with 5 people in a 1 bd apartment, a 6 figure person might be two people to a 1 bd apartment (most SF apartments, someone is living in the living room...)

furthermore, there are tons of articles about teachers, police, nurses, etc that cannot live in the city they work - those are the people who should be able to be close to their jobs yet they live 1 hr+ out

Maybe they should buy a tesla and commute to work.

But look the article is about living check to check, only point, I keep reiterating is to scale back in expenses, until you have breathing room. I doubt most people are taking correct inventory of their expenses(wants vs needs).

Aren't the same economic stressors affecting both groups?

Consider this, who has the potential to save more? Who likely has the ability to relocate with ease? Most professionals making 100k, aren't "stuck" in one location.

The point is again, is that no one making 100k should be living check to check. They should at least be able to put away $400-600.

 

[No1]

Breh if you making a 100k find a way to make that shyt work. Don't take out loan then complain later about your choices, I didn't go to graduate school, because I didn't want to have 100k in debt looming over my head.

I still read books and continually educate myself.

How sorry do you want me to feel. I do personally believe higher education should be free, because it "theoretically" creates a better and more informed society. I also believe the real people making money in this country(billionaires should be taxed more). Cut out all their loopholes.

Just waiting on @No1 to make a guest appearance.

I really have no interest in posting about anything but sports anymore. We've all been at this shyt for over a decade -- nikkas are who they are. I'm just a spectator. Personal responsibility and better policy are not mutually exclusive. Better policy would probably lead to more informed and better decision-making. That's basically all I got. I didn't read this article nor do I know what the propeller of any of this is.

 

[FTBS]

Just because you make a lot of money doesn't mean you know how to manage it. We had reports about NBA players, who the minimum salary is in the high six figures, were living paycheck to paycheck. It's not really that surprising. We are culture driven by consumption and showing off. If you are making 100, 000 a year, you likely either had to work your ass off in school or work your ass off to start a business. You are ready to let loose and floss after that, not save. Beyond that, as the article pointed out, stuff is getting more and more expensive. A working class person could actually pay for college out of pocket 50 years ago. Now you basically gotta be rich, and 100, 000 aint that no more.

 

[ogc163]

More than one way to skin a cat breh.


My family is still black right? My mom didn't really start making money until I was almost out of high school. There were still periods where things were rough financially. My family isn't the most financially savy set of individuals. I've been broke as heck, with debt as far as my eyes can see. I started working when I was 16. I have worked a series of service jobs throughout my life, even after college. This is what made me change my perspective on life. I So don't try to hit me with that i don't know the struggle bs. I've worked crappy jobs, with no prospects in sight.

A lot of y'all ivory tower cats here legit just graduated hs, then graduated college then went to law school. Breh I've busted my ass since I was 16, working all kinds of service jobs for bs wages, while being in a debt trap and going to school. The point is, I got out of it by scaling back on my lifestyle and building a nestegg.


Not at all, it was just a cost benefit analysis imo. I had an experience with debt early on and i didn't like it. If I'm not getting a free ride then I'm not taking out an 80k loan with interest.

we all know Barnone is lurking around the corner.

What y'all aren't going do, is try have me sympathizing for people making 100k, over service workers who legit don't make enough. That's disgusting.

Yeah, we JUST happened to enter one of the least diverse, conservative, and competitive fields out there. And there ain't nothing you typed that I haven't gone through plus more. I'm not gonna engage in the struggle Olympics here.

This is a flawed framework that no one introduced so I'm not sure why you even brought it up.