78% OF AMERICA IS BROKE
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- เผยแพร่เมื่อ 19 พ.ย. 2024
- 78% OF AMERICA IS BROKE
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I've paused it and I believe it to be credit card usage - debt. People buy things they don't need with money they don't have to impress people they don't know.
Not always accurate. Some people, myself included; are using credit card to pay for essential bills, awaiting the next paycheck. Some times in the year it goes backwards, sometimes clears up.
@@mohhingman That doesn't sound promising. I know 87% of Americans are one paycheck away from a catastrophe it isn't any way to live. The stress must be unbelievable.
@@mohhingmantime to check your essentials are really essentials.
Instituting financial literacy in the primary education sector could be one of the solutions. The propensity to spend is always there more especially if one is not soundly knowledgeable in money matters.
@@gilsonsangulukaniphiri5018 The schools are run by lunatic marxists now. How could these communists teach economic literacy?
7 minutes ago, the # was up to 79%. Now I think its 80% already. Like 4/5 households that are completely broke.
And 95% of Americans don't own a meaningful amount of tangible assets worth a damn that are outside the debt and death paradigm.
@@bocain812 Success is not the one that has much in life but is the one that requires little. Perhaps the "own nothing and love it" theme from the WEF, and the 95% you speak of, is actually blessed. Just a perspective to think about.
@@bocain812 Here is the thing, I don't think you should be required to do this whole "assets" thing making fake ass money out of thin air due to the fact you hold some random ass bullshit considering people have hardly anything and can't even start on that path because they're underpaid and overworked and everything else is super expensive
Get rid of social media. Get a cheap paid off car, get rid of car payments and super expensive car insurance, get rid of cable, Netflix, etc., get only 1 phone, stop eating out. Forget about keeping up with the Joneses. Get close to family and God.
If you have $2000 in savings but $10,000 in credit card bills you don’t have $2000 in savings your $8000 in debt.
They need some Dave Ramsey
Wrong you're only 8k in debt if you used the 2k to pay the debt.
@@daveblackman816 I don't need Dave Ramsey to use some common sense. Just sayin'
Whichever way, one is broke
credit cards are fantastic, use them for free accounting of spending its right on the statement. they give free monies cashback, cash never will, free gift cards for meals etc, security on bad venders just call they freze that transaction, i have a few times like now too.. If lost 50 bucks most on losses. cash is gone forever.its a free tool to use.. I stopped cash no benefits.
My guess.. spending habits in the country. Do elementary students really need $1000 phones?
@@frenchfred3 Things started to turn around for my spouse and me when we stopped worrying about what other people have and started worrying about how we can get our finances under control.
@@thomaschew2191 so true.
No, they don't, just like we don't need BMW, Armani, iphone, candle light dinner, cruises. ... we live in the world of how other people judge us.
@@frenchfred3 It's not a zero sum game. The top 1% provide more value so they earn more.
Agreed. I bet you get a lot of hate for stating that fact.
I just came from walmart--- purchased 3 items: 2 mouthwash bottles, and 1 platic brush= $36! Insane, at WALMART
I used to live paycheck to paycheck, and we lost our house in the great recession, can't speak for everyone, but for us, too much house.
Us too. This time around we are in the less than 20%. I learned my lesson the last time around. No debt this time around, and a years worth of salary saved. It is a whole lot easier to weather the economic storms in life when you are not in debt up to your eyeballs. Also helps that you have skills to fix things around your house and on your cars.
Same .. I was a realtor in 2008 .. lost my home .. just right now finally bought a house in Tennesssee
@nickyRavioli, if you're still a realtor, get ready to lose that home also.
@@nickyRavioli again!? at the top? well hopefully you are better off this time around,.
@@michaelwool5960 - I said “ Was … a Realtor … DUAH .. whatever school you went to you better get your money back… I’m in aerospace now
Our paychecks hit our accounts a couple hours late one day. Half of my coworkers stopped working because they couldn't Doordash lunch.
😂😂😂😂
That's embarrassing
WHAT THE HELL! 😮
5 kids people are easier to qualify for government assistance programs. That’s why.
Welfare pays...jobs don't
Only if you're low income. middle income 5 families don't get jack. Families are discouraged by the state. They want atomized tax chattel.
That's BS. I have a family of 4 and we don't qualify for assistance program, yet we are only getting by getting in credit card debt
Just so you know, the largest food bank CEO told us that for every 1.00 in Snaps is 1.70 in Profits..
Trump cut Snaps 3 times, millions of kids lost their lunches.
Jail people get three milks a day, that was the only milk the kids get is too high!!
Nobody needs 3,000 square foot homes.
That’s the slave traps.
China they bought up so much that Walmart workers live in a Large Complex, they have to work 6 days a week, never own it.
Sound Familiar.
I dont think that's a problem. You guys complain about the poor getting welfare but.l corporations receive way more
Less than 20% have $2,000? That can't be right. That sounds nuts!
Well they probably have a 90k car on financing..but cash poor perhaps
The number 1 cause is no spending control. Cut back on spending and prices will go down and savings will go up.
get a better job, it will probably be harder but better pay. try sales its stressfull but nice paychecks.
Delusional. They don’t pay NOBODY enough in this country. Computer scientists and doctors are barely surviving
@@peter-pg5ycnot true! Buuuut not entirely false either. Most people who make more spend more
@@peter-pg5yc People have a spending problem. Those that like to spend are also victims of what they call " the lifestyle creep". If they have a spending problem, then making more money will just lead them to spend more money. If they are already good at saving money, then making more will benefit them, but not if they spend everything that they make and try to keep up with the joneses.
I don’t know anyone who has any savings. That’s for rich people. Most people have nothing. There’s no money to save when jobs don’t pay enough to pay for rent and utilities.
its by design they dont want us to have what they have they want us to stay poor till we die
I don’t know what’s going to happen to me when I get old and may not be able to work anymore. The future may be scary 😢
Or when the govt over TAXES, and keeps Inflation High, and gives ILLEGALS Free Housing that everyone else don't have. Suppy and Demand is key
@@shawbrothers18 😅relax
People cutting on their expenses is important, but the government is sending money all over the world and has a horrible habit of printing money. So no wonder regular people also have bad habits. The whole system is working wrong
All voter approved! Want someone to vote for you, just offer free stuff and benefits ! and then you tax the one who voted for it! Nothing is free accept stupidity!
Most single men aren’t hurting as bad as married men and/or single women because most single men are conservative and economically efficient because men know there’s no safety net if they hit a financial crisis. Most women are terrible with finances and with living WITHIN or below their means….
No one falls in love faster than a man that needs a plan to live
If you think most women are terrible with finances,you’re dating the wrong women. You may need to re-arrange your priorities.
Women get their money from divorce
I wish they would ask for income breakdowns when they are asking these questions. I would be willing to bet that the ones making over $70k are the ones with budgeting issues and the ones making less than that would say low income. But far too often those with low incomes are ridiculed for poor budgeting.
It does not matter if someone makes 50k or 500k a year. If that person lives above their means, they will be in debt. I know people on both ends of this.... 50k or 500k and both are underwater in debt trying to live like kings to impress their fake friends.
If you can afford enough calories to stay alive after paying for the minimum amount of building you can legally afford. It doesn't matter how you budget.
The tragedy is people spending 90,000 dollars for a truck.
Every time I drive to work I see nothing but shiny new cars on the road. I'm driving a 14 year old corolla. How are they affording this?
@@DJ239 That's the problem they are not. You see the number of videos on TH-cam talking about the Repo bonanza that's going on.
There not fake
It's not a tradegy .... it's called Stupidity !
@@danaoberlander5754 It's not Stupidity, it's called a Tragedy...
I think the biggest thing is the disconnection between gross pay and net pay. Its easier for people to remember their hourly rate or salary before taxes, social security etc. They make budgeting decisions based on that pre tax number. The lending industry knows full well they can take advantage of this disconnect by requesting only gross pay on loan applications. This problem is even worse in states with income taxes.
So what I here you saying is allot of people are to stupid to do a budget! Or to stupid to read their pay stub!
I know it's really hard. buy no takeway coffee, buy a jar of instant coffee, bring a sandwich for lunch to work, Never eat out, buy only food on special, turn off the light / heating if you can. Buy those warm cloths.
What? Live within your means! Ya right!
@darylyost7273 right? Why the fuck didnt I think about that!
I got 3 kids. My wife wants another one. I said hell naw! I told her to get a baby daddy so she can have the kid and get the child support. I'll love them like my own! Just dont want to pay for it. BONKERS!
Aww, you have a loving wife, she sees you in every one of them.
I was blessed, it took 14 years, lot of tears, I finally got my baby girl, now a granddaughter, both so precious.
My parents didn’t have much at my time bc they lost everything in a fire.
Moved into a small home.
My mama had me and 5 boys.
The precious memories I had with my 2 younger brothers, all good eggs.
We always thought the perfect family was the nicest homes, when really they weren’t we found out as we grew up.
Point is we had more love and happiness in that small home than what Mansions hold.
God Bless..
Child support isn't much help anymore. It doesn't take into account inflation. I would say just don't do it
The fact you're blaming Americans for bad spending habits when we don't have affordable health Care is dumb. I have to pay $1,200 a month for my health insurance. That just covers me my husband in a small child. And then the cost of food is ridiculous and the cost of living has gone up. But go on and keep talking about bad spending habits.. you cannot save up in today's society. Not if you want to have a car insurance health insurance and everything else.
😂😂😂
Exactly!! She just wants to stay home 🤦🏻♀️
How come every house is being sold within few days of posting if 80% of people are broke.
Bc they are being bought by corporations with all cash offers.
The Big Banks Theory... cool 😎
A lot of USA broke but yet housing prices and rents are staying elevated. Something doesn't add up?
I think a lot of folks sell weed and blow on the side to make ends meet.
People probably use their LLC for write offs and loans, buy up housing, then sell/rent at inflated costs. It’s easy to justify spending money you don’t have if it is an “investment” with an expectation of earning X dollars. It’s all speculative buying - the idiots.
Number 1 cause is that you gave the minimum wage a boost that double their hourly wage but didn't do it for everyone else and now everything is expensive. When you only boost one section of jobs income but no one else this is what happens. The domino effect cuts us all down to our knees. Couple that with an incompetent administration, no fiscal responsibility at highest levels and greed this is what you get
They redistributed wealth from the middle class to the lowest class, thereby creating two classes, the rich and poor, no in between.
@@christopherparsons3224, Wealth WAS NOT passed down to the poor from the middle class. Republicans ( and Trump) passed a MULTI TRILLION DOLLAR Tax Cut for the ULTRA WEALTHY a few years ago. You and I, (and our children's children) will be paying for that National Debt for GENERATIONS!!!
@@christopherparsons3224
Also, since Reagan, republican keep giving more and more money to the rich and cutting their taxes.
We are now retired. Most of my friends can’t. But while we were investing in our 401k they were taking vacations every year and trading their cars in. I never could figure out how they could afford it I guess they couldn’t. Also a lot of my friends traded up in their homes right before the housing crisis. We bought land and a triple wide MH. Now a lot of them are close to 65 and they still have 10 more years of house payments. Always live below your means
Rent controls are needed to deflate the housing bubble
I really enjoy the new intro and your serious tone in the beginning. I've seen it over the past six or seven videos over the past week and really appreciate that. I love your personality but I think the intro is really important to snag new viewers to understand that you know what you're talking about. 😊
Somebody living paycheck to paycheck shouldn't be having more and more children.
You need kids to keep the economy going
This country needs more kids
U have absolutely no say so over what anybody does other than yourself
Im an "Old Black Dude". I cant believe the influence media has on people. It used to take money to have sex. Awesome truth comment.
People are stupid, you should not have kids unless you can pay for them for 18 years.
Nothing new here I was living "Pay to pay" in the US NAVY, late 70's & early 80's, my 1st house in 85' @ 6% interest- Pay to Pay, nothing has changed.
Your most informational video I’ve seen. Not counting special guests. ❤ So many sources used.
Love the video this morning Travis and I love the intro of your videos now.Great job anyway and saying, I'm bonkers.I don't see how anybody could buy right now.When our government could pull the rug on beneath us and make everything crash
I think because 2 kids can share a room/ bunkbeds and "hand me down". And maybe as kids get holder they share things and older siblings can help babysit younger siblings ( depending on age). Very interesting!
Absolutely bonkers!
Absolutely!
Bonkers!!!
Excellent analysis. Good job
Kids are (too?) expensive. Unless you raise them on "possey" (garbage) stew or rice and wheaties like my mom did with 8 kids in the 60s-70s.
Mabe your mom should of stopped at four children!
We went out for ice-cream cones for a birthday. One scoop of ice cream in waffle cone cost $8.25.
Inflation is insane . We are ok, but we will no longer be going out to eat.
Buying ice cream and cones at Walmart would run you about .50 cents a cone.
I think the reason families with 5+ kids have the lowest percentage when it comes to living pay check to pay check is because the families who can afford to even think about having 5 or more kids, make more money.
This is all by design. Remember the whole “ you’ll own nothing, and you’ll be happy”? Yeah. They’re doing everything to make that a reality
Thank you! Idk why people keep ignoring this and treating it like it’s made up. The plan is being executed and nobody seems to care.
Yep. Most properties will be taken back by the banks or for taxes not being made. 2030 is the goal.
@@daveblackman816People just run around with their head in the sand. The level of ignorance is astonishing
@@medic1937 It isn't ignorance, its fear. They don't want to comprehend that they worked their whole lives for nothing, and that any pension due, has been spent by the government. People are scared, not stupid.
@@CraftEccentricity Maybe from your point of view. When I look around I see stupidity, not fear. Choosing to memorize NFL stats instead of budgeting for finances, or even know what the FED is doing is ignorance. Most kids can't even read or do math at grade level. This has been going on for years. This problem isn't going to get better.
On top of monthly bills adding a car note and car insurance is a killer
Bro i drive a 98 corolla. Gas is cheap n all. Living within my means. Much love bro. Always watching.
97 conversion van...a home and transportation...paid 2k..runs great but no AC..bummer on that
Yep, I'm in that 78% at the moment I got to admit
🎉🎉🎉 Hey 👋🏼 Travis 😮
This is some very serious scary news. So many things can change in a blink of an eye. Now that I’m retired and living on Check to check after doing a owner financing on my last Restaurant and Building.. I now am understanding these situations. All though I get a very generous check once a month for the next 14 years I am really starting to understand how these people feel.
I’m not complaining,,, I’m just scared 😱 for all the younger generation who are just starting life.
Blessings, C Los
When your government is bankrupt and relies entirely on a printer that nations public will go bankrupt way before the unlimited printer backed state ever will 😂
We can hope that the message gets through. Unite with your family, do group shopping for essential “food”. Seek simple is better the “Good Old Days” of softball, home board games with the at home BBQ. Avoid the do I want or do I need the latest devices. Save and keep your eyes and ears open for what is happening.
I would say the number one cost would be shelter the number two cost is probably the price of groceries. I went into the grocery store to grab pre-made salad mix four chicken breast a thing of cream cheese a loaf of bread, a case of water and drop $30... Like what
There is this youtuber (Vincent Chan) who had a really good video about how much you have to work to afford a normal household lifestyle. Now, you have to work 54 weeks a year for a family to live, meaning it's impossible because you're 2 weeks short. So that 2 weeks is the extra debt people have to take on every year. He then compared that to how families lived back in the 1960s, 1970s, and it came out to having to work only 38 weeks out of the year or something ridiculously low like that.
This country has rotted from within... it's over.
The Biden effect
@Joe-no7gsI try to explain this all the time, economy was up during Trump down during Biden so it's Bidens fault. Lot of elderly have large bond portfolios so even tho market was recently at all time high their overall portfolios aren't even close.
Pay those Credit cards off, and any other debt ,and build that emergency fund up,I paid my car off two years early,no credit card debt and no mortgage
That was an absolute bonkers video. ❤ more like this please.
I put a lot of blame on advertising.
Internet says write your comment & I am writing it, because all these years no one listened to public what we want, how we feel, what is bothering us, why we struggle, what should be changed, since when did the politicians veer listened or read what the public wants, never until the internet!!! People don't need politicians, public can survives without them, but politicians they need the public, they need our votes, we don't need their votes, we need them to represent us, listen & understands what the public wants, then should should not be in government. Does the U.S.A politicians wants to hear what the people want, & give us better & easy life to survive or they don't care, who votes them???
Loving the new intro Travis
The ENTIRE USA is living on and is supported by CREDIT CARDS........HOUSE OF CARDS WILL COME DOWN - Just a question of WHEN - IMO pretty soon.
No
im not living paycheck to paycheck even though times are rough. im not an idiot.
The only American who won't acknowledge this Administration's failed economic policies is Joe Biden. "Shrink-flation' is the least of our worries compared to rising rents and stagnant wages, but it is an undeniable indicator of how bad our inflation has gotten. I have $100k that i like to invest in a non-retirement account, any advice on that?
I would avoid index funds, mutual funds, and specific stocks for the time being. Right now, the best option is a fixed income of five percent. Put money aside for the times when the market really starts to bounce back.
Investing is not necessarily a rollercoaster if you know your way around the market, there are various opportunities in the present market to accrue good profit, If you are not too savvy with the market, just buy and hold on strong companies with good earnings, or consult with advisors on ETFs and actively managed funds.
I'm intrigued by this. I've searched for financial advisors online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’AMBER KAY WRIGHT ” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
I appreciate this. After curiously searching her name online and reviewing her credentials, I'm quite impressed. I've contacted her as I could use all the help I can get. A call has been scheduled.
Another thing that I would add is one of the unique things I do in keeping a 6-month supply of monetary is not having all in money like I keep a 6-month rotation of what I need outside of shelter because if COVID taught us anything it's at the supply chain in Fall apart so don't rely on it weekly week... And then during that time. I've also read the one second after series... I definitely want to be a Franklin;)
I used to work in a mortgage modification dept to help homeowners qualify to modify their mortgage to lower payments. We needed to know all income sources and a complete break down of what they are spending their money on....Alcohol, cigarettes, expensive car, etc. People with poor spending habits need to take accountability for living beyond their means and stop blaming everything else.
When rates go up, people need to not spend money on luxury yet people still trying to spend like theyre rich.
Great video Travis! That's what you get when you just "have" to buy the newest car, or a new phone every year. I bet they couldn't even tell you what their credit card interest rate is. I get that some are just trying to survive but, a majority are not. Life's about choices and the reality check coming for them will be biblical.
Main reason - HIGH RENT / HIGH MORTGAGE!
My husband and I are expecting our first and I plan to not work after but if we were to buy a house (on the lower price) it would make us live paycheck to paycheck. Even renting we’d be stretched, it’s ridiculous and he makes decent money! We have no debt and budget. Rent and Mortgage is too high in most metros for most people in low and middle class!!!
Thankfully we’re able to save right now with two incomes, makes me not want to buy yet so we don’t deplete that because of downpayment etc. Too risky right now with high cost of living. But hopefully we can buy at some point in the future and build a nest egg.
Great show man.
an old party 40 years ago, I man dating a friend from college we asked what he did. he lived on a trust account and if he lived within it didnt need a job. Drove an old honda was a normal guy. Except wealth created monies for him to live on. So i used that idea save invested saved invested to now I too live off of monies saved invested. It works. A divorce really screws the plan all up.. But again hard work save invest worth more now.
I have friends who have several hundred thousand dollars in bank accounts, yet they have car payments and credit card debt. Go figure (?)
BONKERS TRAVIS!!! Things are getting crazier day after day!
This ain't America anymore!
It certainly is not... the politicians have given it away. It really is over.
Looks like Honduras here in SE Texas now.
@@jgringo5516 do you mean the ppl or poverty?
It never was, it's native land
@@derwinmitchell9947....to the victor go the spoils.
But they did it. My household income is 60k. I have twice that in savings and 10k in cash. Because we live smaller then we need to. And we live very comfortably, but not wastefully or flamboyantly.
I was in a bar the other day and overheard people talking about helping there kids buy a house ....Now is the worst time to buy prices are still way too high and rates are not going down , it's possible rates might go up more ....I have had boomers tell me well its all relevant , far from the truth as you point out back then is 3 to 4 times wages to buy a house , where no in my area the average house is valued 15 times what the average wage is ...This will not end well as most people are broke and anyone who bought in the last 7 years will feel pain ...
I am from Dominican Republic, I have two kids and pay rent, light and internet, and even I have around 4,000 dollar equivalent in my bank account.
Do you have a job, rent subsidized, food stamps???
and from DR probably is a good amount, good effort 👍
It's higher than 29% the survey needs to go and talk to people who are at the food banks.
Just a reminder for the surveys, it’s also how they ask the questions
I thought intermittent fasting was good for you. Unfortunately most people I see are so fat they can miss 2 meals a day for a year.
Lol, right? Skipping meals might not be a bad thing.
The number one reason is the increase in money supply.
Remember to consider the number of people who are on SSI for disabilities supplemental insurance. They are making 50 K or less a year and are not allowed to save more than 2000 once they have 2000 in resources they are off disability and that medical insurance is sometimes Very expensive. Maybe 8-12 different specialists. That’s 10% of households. So that means there should be at least 8 million living paycheck to paycheck or less.
Medical insurance and hospital bills, social security pays only $800, my company misinvested our 401k and we lost it all.
Prior 1982 no credit cards , govt gave cc write-offs took the write off away , banks come in to save the day with home equity to pay down credit card debt and create a write off on MTG and second equity loan , unfortunately most maxed out cc cards again , people were much happier with no Credit Card availability, Less was More
The article you're referencing stated that it increased by 6% from prior year.
That part is equally concerning as the total number alone.
I guess a lot of people are living large, dreaming small.
Wait, I’m in the 20%?? Sure I have a car loan and credit card debt, and I certainly don’t have hundreds of thousands in my bank account, but enough to live on for a few months if needed. But mostly everyone else is doing worse than me? Can’t be right.
Now you know what we have felt in Latin America for decades from Mexico to Argentina while we listened to the beautiful stories of abundance in the USA, reality is hard, I hope things resolve for the better
People are constantly propagandized to spend, spend, spend. They often do it compensate for their depression. And the business sector complains that consumer spending is too low, and people have to be laid off work.
I have money saved but live pay check to paycheck. At this rate a single person with no kids needs at leat 8k to 10k in savings. Now imagine having kids! Omg It's rough out there
Wolfstreet dug into these type of articles about low savings/can’t afford an $x emergency and they don’t seem to hold up.
Inflation, credit card debt, insurance increase and property tax increase.
The more kids you have, probably the more frugal you are with your finances, that is probably why it is so low.
Did you get a text on your burner phone during this recording?
Most have destroyed their credit missing CC payments n such 😮😢
Totally agree, late payments are a killer of your credit history/score. If you have a mortgage or a vehicle loan, never pay these late. You can do automatic payments to keep you on time with your bills. Obtaining excellent credit takes time, and discipline. You should not use more than 30% of your credit limit on each card you may have. Pay off your card or cards and don't get rid of them. The less you use of your total available combined credit limit on all your cards helps keep your credit score up. Never get rid of a card that you have had for years, it shows more years of responsible credit history.
If you have more than one, have the discipline to rotate the cards, using them for small purchases, to keep them active, then put them back in a safe space. The reason for this is you want to hang on to that available unused credit, to show how credit worthiness you are. I write down my credit limit on each card. I have never had one financial institution drop my credit limit or close one. Only carry one credit card for emergencies that has a high credit limit to stay under that 30 %
Once you get your credit scores in the 800s, which is considered excellent, and you monitor it, you will work even harder to keep it.
1) Partial cause was the inflation we saw during pandemic; car dealerships all added 15% stocking fees to cost, now they are used to that level of sale price; toilet paper, etc price went up, cost concrete went up, "transportation costs" 2) Partial cause adverse weather events with overbuilding in these areas; insurance premiums up to cover costs, repair materials availability squeezed, costs went up 3) Partial cause larger, heavier SUV, electric cars, more expensive repairs, higher car ins premiums
Be ready to leave!
When speaking about delinquencies and paying bills on time, you must preface it by stating that you were foreclosed on, which occurs when one does not meet their financial obligations for a significant amount of time
#1 Cause of living paycheck to paycheck? .... health insurance!
I was just talking to Melody about this very thing
Govt is not allowed to regulated private business. I see comments that blame to govt. Not buying it. Any effort by govt to help with programs historically is ridiculed and chastised. Blame the system. It is designed by its very nature to boom and bust. You need to realize the nature of the system we live in. Therefore, we are left on our own to use our brains to strategize and survive. Vids like this give me good insights and strategy. We are not living in a perfect system. But still is the best one in earth. Cheers
very good phrase "designed by its very nature to boom and bust" 👍
Actually its 90% as always but their nor broke. Their living a great life in massive debt due to their own chosen life style
Meaning they don't live or operate within their means. Its always been that way.
And everyone that does gets richer. As they should.
#1 cause of Living paycheck to paycheck is the OVERINFLATED RENT AND PROPERTY TAX/INSURANCE INCREASES over the past three years! It’s simple and the Fed and State Governments allow it. Next is food and transportation costs/insurances.
One culprit to the surge in the percentage of Americans living paycheck to paycheck is the lack of understanding in money management/saving money and lifestyle creep. People tend to spend a more as their income increases.
I save about 20% of my income.
How am I am able to do this? I drive a car that is almost 20 years old, and I eat at home most of the time. The car insurance savings of driving an older car is around $1500 year. Eating at home saves me another $5000 per year.
All that first statistic shows is that the greedy few are REALLY in control and getting richer
I disagree that it is politicians and fraud. The main problem is people not handling their income well. That does not apply to everyone on the financial margin, but it does o many.
Sure people can do better if they don’t have to work 2 or 3 Jobs to keep themselves a float due to politicians and non elected officials printing their money to oblivion.
Honestly markets are up all loses are made up got more now. cds are at a high rate for safe monies to live on. so people never saved invested for the future? Im baffled. friend laughed you live in a small 1 bedroom apartment with a garage. Yes, and i got 3 million invested retired 18 years ago at 47. In a very nice town. I dhont need much but buy what i want. No credit card debt.after a while you got all you need. I aint bragging It was hard work saving and investing. I had a plan and did it retire early.. always pay yourself first. always then invest.. whatever you probably wont do it anyway... but there are those that do.
I'm seeing people use credit cards even to buy a 2 dollar coffee lately ....And local food banks are seeing more people with full time jobs ...Cus rent is so high now..
If not for money printing, US govt is poor and destitute 😢
Here are my very favorite quotes by two famous people and I live by these quotes: " It's not how much you've earned...it's how much you've SAVED!"-Robert Kiyosaki / The Greatest Wealth is to live Content with little"-Plato-
Exactly. I'm begging as well. Please please Stop Buying Stuff. Just 6 months of pull back would start to price correct. I'll never understand it . Just makes no sense. Why would you spend until your broke and then be totally stressed out? Was that 100 dollar dinner out for 2 hours or that new pair of 200 dollar tennis shoes worth continual stress and no retirement???
"Please please Stop Buying Stuff"
Or just buy a passport.
It’s more than that bud. I’m an online reseller that used to sell $175k a year. I sold $26k last year working WAYYYY harder.
Is a WTF headline really necessary!!!
So stop buying food stop buying hygien for my kids stop buying shoes or clothes for kids when they have holes in them stop paying my bills and stop paying gas., stop sending 10$ to investment and stop paying 20 to savings because i am pay check to to before paycheck rent went up from 1450 to almost 2000 for a 1 bdroom crap hole in the hood no utilities included and utilities go up every year now too. So please stop what? I'm going to school im looking to move yes i am in debt to pay bills i cant get a second job because i would just be paying for the daycare to watch my kids during that time. I work 45 hours a week landscaping so what do i need to sto doing? Yes i am looking for another job so what what do i stop doing?.