Re:Despite rising wages, 61% of Americans are still living p...
by c7DJTLrn on Thursday February 17, 2022 @02:39PM
(#30377655)
(perhaps) unpopular observation: as tough as the economy is, most people are just bad with money. I know so many people who would rather spend money on impulse than save it. It's not even necessarily their fault - why save if house prices are still increasing faster than you can catch up with? Is it any wonder young people generally just want to splash out on whatever keeps them happy?
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Re:Despite rising wages, 61% of Americans are still living p...
by soared on Thursday February 17, 2022 @02:44PM
(#30377716)
I agree that financial literacy is a solution to many financial woes, but it is not up to an individual to seek it out. Low income people often don’t know it’s possible to escape their poverty, much less how to do it.
Re:Despite rising wages, 61% of Americans are still living p...
by milkytron on Thursday February 17, 2022 @03:11PM
(#30378042)
> Low income people often don’t know it’s possible to escape their poverty, much less how to do it.
Idk, I think that's a pretty broad generalization. Many certainly know they can escape poverty, but the how is important.
When I was working three part time jobs just to keep my head above water and have some amount savings, I would think to myself that this is just temporary. Eventually things will get better. I often wonder how many people fall into this "My money situation is just this way temporarily, I'll make more later at some point and things will be better"
The dangerous part is not acting to change that temporary situation. It's exhausting to do the routine of work day by day. Then taking the extra effort to get an education, find a better job, etc all become more difficult when working multiple jobs just to stay afloat.