News for hackers. Stuff that matters.
Re:What do the wealthiest know that others don't? by leftnode on Friday July 15, 2016 @09:48AM (#12100880)
Anecdotal, I know, but look at all the recent articles where 53% of American's don't have $1000 in liquid cash, or hell just read /r/personalfinance for your daily dose of poor financial decisions.
Re:What do the wealthiest know that others don't? by jamesroseman on Friday July 15, 2016 @09:59AM (#12100966)
As I replied above, not having liquid cash is proof of being poor, not of managing your money poorly.

What I want a citation for is:

> There are a lot of people in the middle class who live paycheck to paycheck because they manage their income poorly.

What I want is definitive proof that, as claimed, most poor people in this country are poor because they manage their money poorly.

Re:What do the wealthiest know that others don't? by ljf on Friday July 15, 2016 @10:09AM (#12101027)
You are asking for proof for something the the parent you first responded to did not say

> There are a lot of people in the middle class who live paycheck to paycheck because they manage their income poorly.

Where in that sentence do they say 'most poor people in this country are poor because they manage their money poorly' ?

Re:What do the wealthiest know that others don't? by jamesroseman on Friday July 15, 2016 @11:11AM (#12101531)
> because they manage their income poorly

That's a good start. "There are a lot" may not mean most, but it doesn't absolve it of providing some proof.

Re:What do the wealthiest know that others don't? by ljf on Friday July 15, 2016 @11:36AM (#12101725)
He also doesn't say poor - he just say manage their income badly - which I would say at least 50% of my friends fall into the bucket of.
Re:What do the wealthiest know that others don't? by jamesroseman on Friday July 15, 2016 @01:35PM (#12102582)
What?

> There are a lot of people in the middle class who live paycheck to paycheck because they manage their income poorly.

I want a citation on that, that's all. I want a statistic on how many people who live paycheck to paycheck live that way solely because they manage their income poorly.

Again, the notion that everyone could be rich if they only worked harder is asinine, and frankly pretty offensive. This comment supports that notion by equating living paycheck to paycheck with being bad at managing income. I want statistics, I'm tired of that opinion.