59% of Americans are living paycheck to paycheck

Discussion in 'Economy' started by longknife, May 19, 2019.

  1. longknife
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    longknife Diamond Member

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    And payday loan scams are thriving.

    Overall, 59 percent of Americans live paycheck to paycheck, according to the survey of 1,000 U.S. adults by Charles Schwab.

    However, the Millennial generation (people ages 23-38) was the most likely to struggle in between payday, at 62 percent, followed by Generation X (60 percent), Generation Z (55 percent) and Baby Boomers (53 percent).

    The article makes it sound as if government is to blame.


    The truth is simple. A huge number are paying off student loans or having massive debts in other areas. Instead of buying perfectly good items in places like the Salvation Army or Deseret Industries, they go to high-end stores to buy new.


    How much of your paycheck is already taken up before you even receive it?


    More of this @ On The Edge Of Disaster: 59 Percent Of Americans Are Living Paycheck To Paycheck
     
  2. Moonglow
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    Moonglow Diamond Member

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    I don't get a paycheck but I do get the bill...
     
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  3. Ringel05
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    Ringel05 Diamond Member

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    Only 59%? Wow.......
     
  4. Moonglow
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    Moonglow Diamond Member

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    Highest ever national and personal debt in the US-MAGA
     
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  5. depotoo
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    depotoo Platinum Member

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  6. Third Party
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    When I was young no one had money. In my twenties I was paycheck to paycheck. Now I am retired and have some money-mostly by not spending anything I did not have to. Personal responsibility.
     
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  7. Angelo
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    Angelo Gold Member

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    It's a wonderful life through inheritance right ?
    Just look at Texas. Real estate is divided into two parts--land owned by whites 95%.
    Land owned by everyone else 5%. 90 % of blacks in Texas either live in the 'hood' or in prison.
     
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  8. Staidhup
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    Staidhup Gold Member Supporting Member

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    America departed from the last remnants of the Gold Standard in 70 due to inflationary pressures resulting from uncontrollable government spending and escalating national debt. Productivity increased, wages remained anemic at best, the purchasing power of the dollar decreased faster than wages increased ( adjusting for inflation) resulting in an economy fueled by personal, corporate, and national debt. The moral of the story do not spend more then you have. Now we have a declining middle class, massive personal, institutional, national debt, and a currency worth nothing more than faith. Until our monetary policy reverts back (reset) to the gold standard, and wages based on productivity the future looks dark. Who is to blame? Look at yourself in the mirror and ask yourself how you voted for a politician promising this and that for free and didn’t recognize the hidden cost, your standard of living!
     
  9. martybegan
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    martybegan Diamond Member

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    I always hated the whole living "paycheck to paycheck" thing because it doesn't truly mark how close to absolute assetless-ness a person is.

    For working people, there is a safety net from the government, and many people have family they can rely on in an emergency.
     
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  10. Moonglow
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    Moonglow Diamond Member

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    They should get a trade and buy some land, although I do not recommend Texass..
     

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