The Majority Of Americans Live Paycheck To Paycheck

[re'up]

I want to say that the school idea is a well intentioned idea..but it's hard to TEACH someone finance at that age, esp. through the school or the home, you have to learn on your own. At least a kid like I was. I learned it overtime, and I'm responsible and fairly savvy for my circumstances, some friends never really learned how to make money, and others never learned how to save it.

None of this is shocking, I tell my boy all the time, we always feel behind, because of who we hang with, where we live, who we compare ourselves too...but people are hurting, and we are AHEAD statistically, by a long shot...tough too, not to doubt yourself in this age where everyone is an instagram baller and facebook stunter, and everyone grabs bottles at the club...but look at peoples real financial snapshot and people are really out here broke, or close to it.

 

[Chris.B]

This is the problem when you just get a job....get a skill then get a job

 

[Azul]

or you live in a VERY expensive city like DC.

Who you be?

 

[DaPresident]

And once you acquire all of those THINGS you WANT, then what?





you'll just be a man (or woman) with a LOT of STUFF...Learning now, that if you can't get it, you can't get it. I got a girl, I want a family and spending all my bread on stupid ish (shoes, bud, etc) isn't gonna help.

We try so hard to impress we even make excuses for it when called out on it.

"nikka, why you buy that $150 Hugo Boss (DC ish lol) shirt breh? Your phone been cut off since April"

"Man, I just like nice things"
"I made the money, I should spend it however I want"
"Maybe I just LIKE this Hugo Boss shirt"

All three of them lines I've heard dozens of times before. See, people HATE to be called out on something, even if it's something that will help them, they don't like to be told. In actuality though, listening to somebody who spit real talk to you tellin you to stack your bread, is a huge boost.

Trying to keep up with rappers who are for the most part, one of two things...SUPER rich or just like you. Very few ball consistently, they pay it back whether up front or on the back end of their career

 

[Marciano]

The real problem is that people live beyond their means and are not taught financial literacy.

Most of these people, no matter how much money they make would face the same problems because they don't understand how money works.

Once you learn how money works, it becomes easy to break the mold and stop living from paycheck to paycheck.

This....

Also, people should use online banks more. I feel whomever banks with Bank of America is downright stupid. If you want to use it for checking, fine, but you'd still be better off with a credit union. As far as savings go, they got some piss poor APR rates. You'd be better off with an online bank like Ally, Capital One 360, FNBO Direct, etc. And make sure an automatic deduction is setup to whereas a certain amount is taken from your paycheck every time you paid. Then you won't see it gone, it'll start stacking with a better interest rate and at least that can be a somewhat start to better budgeting & money management.

 

[mortuus est]

I just like nice things[/B]"
"I made the money, I should spend it however I want"
"Maybe I just LIKE this Hugo Boss shirt"

what if they do like nice things tho, i wear some pretty rare clothing, or out of seasoned stuff and i like people that ask me "where you get that from"

although i know how to handle my money, some people just want to live nice for a bit.

 

[mannyrs13]

This....

Also, people should use online banks more. I feel whomever banks with Bank of America is downright stupid. If you want to use it for checking, fine, but you'd still be better off with a credit union. As far as savings go, they got some piss poor APR rates. You'd be better off with an online bank like Ally, Capital One 360, FNBO Direct, etc. And make sure an automatic deduction is setup to whereas a certain amount is taken from your paycheck every time you paid. Then you won't see it gone, it'll start stacking with a better interest rate and at least that can be a somewhat start to better budgeting & money management.

I agree with this and it works. been saving something every paycheck to my 360 account. might not be much but as much as possible anything helps. best when emergencies come up. like I got a root canal for next week and already know I got enough to pay it off without using credit. might take a while to pay my savings back but better than paying interest.

 

[The 2020 New Member]

i'm in my mid 20s with no kids...it's 'hard' to save money. i need to get focused. this number is a downer but also very eye-opening. at least i'm not the only one.

that stuff about getting a skill is right, too. i'm going to college brehs...no matter what the cost.

 

[Silkk]

capitalism is fine. people are scared to step out on their own two and monetize their ideas. they like their slavery...it's safe...and you don't have too think to hard. you just have to exist enough to survive. this isn't capitalism's fault. there are people who have access to a computer and a smartphone that would rather post on instagram and facebook all day instead of finding a few hustles...and there are so many. scared money never made money....and that's exactly what people are holding on to...scared money....they won't turn off CNN or MSNBC so they're afraid of everything. i know 15 year olds doing freelance SEO making $200 a day. there are sites that teach you all of this shyt for free. no excuses. i have no pity for people that don't try harder...and even harder than that.

 

[SuburbanPimp]

Quit Stunting and stack that paper

I was bad at one time, but now I could give shyt about some Rims, Speakers, Shoes, IPad, Flat Screens and shyt like that. I'm a lil weary about investing but I got like 4 CDs just ducked off and making money. Like it was mentioned before, you gotta have mutliple revenues sources to actually get ahead, but until you do, stay modest and humble with your funds

 

[CrimsonTider]

Even if you have savings you are still living Paycheck to Paycheck.

 

[Field Marshall Bradley]

i know 15 year olds doing freelance SEO making $200 a day. there are sites that teach you all of this shyt for free. no excuses. i have no pity for people that don't try harder...and even harder than that.

What is Freelance SEO, if I may ask?

 

[the bossman]

Even if you have savings you are still living Paycheck to Paycheck.

if I have 6 months of living expenses saved up I'm living paycheck to paycheck? please explain

 

[CrimsonTider]

if I have 6 months of living expenses saved up I'm living paycheck to paycheck? please explain

Because you still depend on that paycheck to live month to month.

If you get fired and have a hard time finding a job what is 6 months of living expenses going to do for real for real.

When I think of not living paycheck to paycheck I think of folks making enough passive income to live off of where they don't need a biweekly check

 

[Red Maverick II]

Subs

A lotta gems being dropped.

We should start a Money / Finance subforum in Higher Learning brehs