https://www.forbes.com/sites/zackfriedman/2019/01/11/live-pa...
Of course a budget doesn't always work. Sometimes one can only reduce their spending so much but still not reach a balanced budget let alone save a few dollars. In those cases the income side of the equation needs to be focused on. I suspect, but don't have data to back this up, that the job market isn't as strong as the official numbers would lead us to believe so there might not be a higher paying opportunity waiting down the street. Certainly wage growth is lagging. There is definitely a disconnect between the macro economy and Main St. in a lot of towns.
This is a huge problem that is only getting bigger as health care costs continue to rise, particularly for people stuck in the Medigap in retirement. But there are no easy answers or short cuts. I think we continue to do what we can to chip away at the problem and, like with budgeting, small improvements can have outsized results over the long term.
Before that? The majority of my income went to expenses and keeping my head above water. There are plenty of people who are irresponsible, yes. But I'm guessing there are many more who are just trying to pay the rent, bills, etc. to stay off the street.
I think it would be very hard to have substantial retirement savings on the bottom 25th quartile of American wages. Especially when most Americans are living paycheck to paycheck. Want people to save more? Pay them more.
This is specifically what I am working on but taking the angle of helping people break the paycheck-to-paycheck cycle and make some progress towards their goals. If someone can save up enough to establish a small emergency fund then they are less likely to raid their retirement savings when their car breaks down or they get a medical bill they cannot afford. Further, when one feels like they have their financial life in order they are more willing to make 401(k) contributions beyond their matching amount.
It is difficult though. The default action for people and their personal finances is inaction. Working through some ideas to help that but there is no silver bullet.