Almost Half of US Households Exhaust Their Salaries

a reply to: MichiganSwampBuck

That is the reason why you can not longer believe the so call Reports that the government and agencies throw out there for their own shortcomings and bad government policies benefits

The only way to see exactly who is making or not in America is going and visit how people in every state and town America is doing.

The only reasons the government manipulate reports and pain a picture that is not real is due to the support of their agendas.

originally posted by: marg6043
a reply to: MichiganSwampBuck

That is the reason why you can not longer believe the so call Reports that the government and agencies throw out there for their own shortcomings and bad government policies benefits

The only way to see exactly who is making or not in America is going and visit how people in every state and town America is doing.

The only reasons the government manipulate reports and pain a picture that is not real is due to the support of their agendas.

It has been my observation over the years that the government and corporations spin the story or down right lie about it.

I find myself agreeing with your posts quite frequently Marg, star for you.

a reply to: MichiganSwampBuck

Thanks, I mean when you see the type of agendas been worked into the public opinion you can tell how data needs manipulation in order to keep the support.

Most people believe anything the government tells them, can you blame it?, we are inundated with all kind of information and most of the time is misleading.

Like everything we always need to read the fine print and between the lines.

a reply to: Aazadan

Yep, sounds like every other "poor" person here.

"I can't......"

And there is the reason why you and others "can't".

a reply to: macman

Right, because it's oh so viable for a person making between $15k and $20k in a year to put aside $15,000 in savings in that time frame.

a reply to: Aazadan

You can't put aside $1000?

Keep saying can't....you are succeeding.

originally posted by: macman
a reply to: Aazadan

You can't put aside $1000?

Keep saying can't....you are succeeding.

For many it's not a matter of being disciplined enough to save money but a matter of having that much discretionary income to actually save. When your annual income is $10k/year and total expenses come to say $9500/year, $1000 represents 2 years of saving 100% of spare income. So yes, in that type of situation I would definitely say I can't and neither can many others. If income suddenly jumped to $15k/year while expenses remained the same, putting aside $1000 is trivial. For that to happen though we need an increase in the minimum wage/shrinking wealth gaps or ways to reduce spending such as more affordable access to education, both things you happen to be against.

That's what I'm getting at with Dave Ramseys program, he makes the assumption that the person in question has disposable income to begin with. Following some of his advice such as not getting into a debt trap like staying away from credit cards you can't afford is perfectly valid but what he and apparently you don't seem to get is that most people simply don't have the purchasing power to put anything aside. That's what the article in the OP speaks of, 47% of people are saving nothing and a large portion of those people have no ability to save, this is further exacerbated by economic policies that discourage saving among those at lower income for example the low interest rate which gives banks cheap (nearly free) access to money but in return gives the savings account you may put money in an interest rate that doesn't even outpace inflation, meaning you lose money by saving where as you keep full value by spending.

At higher levels of income you have access to better investment options which yield higher returns as well as the credit to cover short term financial needs as those higher return options often aren't very liquid.

With how productivity is up, profits are up, but salaries are flat/down, it really isn't newsworthy but cringeworthy.

That's how they want us, enslaved by debt so that we're malleable and less apt to act up.

Derek

originally posted by: Viesczy
With how productivity is up, profits are up, but salaries are flat/down, it really isn't newsworthy but cringeworthy.

That's how they want us, enslaved by debt so that we're malleable and less apt to act up.

Derek

Think of all the time utilized by the average Joe household just to maintain the bills of the basic excepted lifestyle. This not only leaves most strapped for time in our personal lives, but no real time to devote to any cause. Not to mention the lack of time for creative endeavors that could lead to innovations or job creation. There could be a flood of creative ideas and productivity if people had the time (ie. cash) to pursue their interests.

The social layers are unevenly stratified and the rungs of the social ladder have big gaps. Solutions? Fair wages with a surplus for savings would be better than a communist style redistribution of wealth, IMO.

originally posted by: macman
a reply to: Aazadan



You can't put aside $1000?



Keep saying can't....you are succeeding.

Aaaahhhh....putting aside $1000 for emergencies. I don't say I can't do that because I have done it a few times, even on the low income I have. Here's my problem: Whenever I do save that money something happens. My cat fell terribly ill and the vet bill was over $800 (and she still passed away). Broke my back filling up my emergency fund again and then I'm saddled with car repairs. Right now I'm spending money on trying to figure out why my car is overheating and have replaced multiple parts. Still overheating. Because of my job I spend half my time driving so it's important to get it fixed.

But it is possible to save $1000 over a period of time on my income. It just keeps getting wiped out.

So, after making the decision that my income just isn't doing it for me anymore I am trying to get a salaried job back in the corporate world again. But, for the moment, I am still living paycheck-to-paycheck.

a reply to: Aazadan

And how does one get to those "higher level of incomes"?

Why is it the same excuse from the same people? Your income of $10k year sucks. Yet, here you are, on ATS for half the day.
There are plenty of jobs out there. And if you live in an area with no jobs, your LPCs can take you to other places with jobs.

And stop blaming everyone else but yourself. I know you and other feel better, squaring fault on others, but the real fact is the issue is you.

I have had at least 2 jobs since I was 14. Most of the time 3, sometimes 4. There is no excuse why someone is only making $10k a year.

The Ramsey program isn't for everyone. It is for people that stop blaming others, actually willing to do the work and not opine that they are on the internet and work for what they want.

a reply to: texasgirl

Well, you have the emergency fund this down pat I would say.

The only way to get there is to continue to work towards it.

Good luck with the job hunt.

originally posted by: texasgirl
Aaaahhhh....putting aside $1000 for emergencies. I don't say I can't do that because I have done it a few times, even on the low income I have. Here's my problem: Whenever I do save that money something happens. My cat fell terribly ill and the vet bill was over $800 (and she still passed away). Broke my back filling up my emergency fund again and then I'm saddled with car repairs. Right now I'm spending money on trying to figure out why my car is overheating and have replaced multiple parts. Still overheating. Because of my job I spend half my time driving so it's important to get it fixed.

But it is possible to save $1000 over a period of time on my income. It just keeps getting wiped out.

So, after making the decision that my income just isn't doing it for me anymore I am trying to get a salaried job back in the corporate world again. But, for the moment, I am still living paycheck-to-paycheck.

That story is fantastic, obviously it's not great for you but it's a perfect example of why savings are so important to have. The point of emergency spending is that you WILL have to spend it. If you can put such a thing together it's great, but depending on your level of income it simply isn't possible for many. I think that some of the 47% in that article could budget better but certainly not all of them are screwing up.

originally posted by: macman
a reply to: Aazadan

And how does one get to those "higher level of incomes"?

Why is it the same excuse from the same people? Your income of $10k year sucks. Yet, here you are, on ATS for half the day.
There are plenty of jobs out there. And if you live in an area with no jobs, your LPCs can take you to other places with jobs.

And stop blaming everyone else but yourself. I know you and other feel better, squaring fault on others, but the real fact is the issue is you.

I have had at least 2 jobs since I was 14. Most of the time 3, sometimes 4. There is no excuse why someone is only making $10k a year.

The Ramsey program isn't for everyone. It is for people that stop blaming others, actually willing to do the work and not opine that they are on the internet and work for what they want.

How do you get higher income? You put in the work to gain education and experience, and then you win the job lottery. Our real unemployment rate right now is higher than it was during the Great Depression, the jobs for people simply don't exist. You can't get a job without putting in the work, but it's also true that not everyone who puts in the work can get a job in our current economy.

As far as my time on ATS goes, it's up in the background while I do homework. Right now I happen to be waiting on a person I'm collaborating with on a group project to review some code and let me know what if any areas aren't working correctly with their code which gives me 5-10 minutes to read a thread or two and write a reply (I type fast). Later tonight when I'm on again it will most likely be while debugging something. I find that when I have a problem I can't solve, particularly when coding, walking away from it and clearing my head for a couple minutes and then coming back to it helps a lot. Distractions like ATS are good for that.

a reply to: Aazadan

How do you increase your income?? Simple, work. Work more.

Very simple really.

originally posted by: texasgirl

originally posted by: kosmicjack
I think some of this is still carry over from an over-priced housing market. Mortgages and rents are far too over-valued..even just "decent" housing is exorbitantly priced and take a huge chunk if any family's budget.



That and food prices are absurd.

Rent is outrageous right now. I remember ten years ago that apartment communities would give concessions such as reduction in rent, free carpet cleaning, free covered parking for a year, etc.. in order to get you to renew your lease. Now, because leasing is at an all-time high, rents are increasing up to $100 per renewal. It's crazy and WRONG.

I went to the store to buy some ground beef and it's now almost $7.00. It's a good way to stop eating meat.

I call meat 'rich people food' now, sometimes I would like to get a nice steak, then I go look at the prices and walk away meatless.
And regarding your other post about credit cards, it's a bloody crying shame the people like us get into debt bondage with our CC's simply because we need stuff, but don't have the money, but now there is debt, which further erodes ability to afford things, use the CC again.
We lose money and they make money because we don't have enough.

1 day late on a bank payment, pay the 'poverty penalty' usually about 30-60 dollars.

We are rocks, and the blood is almost all squeezed out of us.

originally posted by: intunewithmyself
a reply to: MichiganSwampBuck


I will never be able to afford a 2,000 sq ft house, nor (after this transition) will I feel that I will ever want one.

Our age has learned that we are broke as crud, and we will never be on top unless you were born there.
I will lead a simple life while continuing to work my life away with no hopes of there being any sort of funding to help me when I am old.

Have you picked out your retirement casket yet?

My last job will be a grave digger, I'll just time my dying with the depth of the hole, then fall in.

originally posted by: macman
a reply to: Aazadan

Yep, sounds like every other "poor" person here.

"I can't......"

And there is the reason why you and others "can't".

We don't have the money.
We run out before pay day.

Understand?

a reply to: MichiganSwampBuck

I'm living on 40 acres and with Michigan's right to farm laws and the agricultural zoning of the property, I plan on farming hops and a few other things, hopefully starting this year. I never started out a farmer nor aspired to be one and it will be difficult, but people are going to want a few beers, if there is anything left of this country after the crash.

Most people are either too lazy to make their own beer or too lazy to even learn.

I suggest you develop a way to grow six-packs. Now THAT will make you rich!

Good luck tho. I wish you success.

Peace

a reply to: jude11
It is so easy to brew beer and wine, I cringe that I didn't start when I was 12. Man, I coulda made a killing selling selling brewed beer to my peers, at a lower cost than at the store.