The economy is fine! We just have… money dysmorphia. /s
The gaslighting is at warp speed now.
Only 14% of Americans consider themselves wealthy
Only 14%? I’m shocked it’s that high!
I thought “Wealthy” was when the passive income of the money you already have, pays more than you typically spend.
Basically when you can “Live off the interest alone.”In fact, more than half of Americans earning more than $100,000 a year say they live paycheck to paycheck, another report by LendingClub found.
I think it’d be interesting to see what would happen if some states had personal finance classes in their curriculum and some didn’t, see if there is a measurable impact down the line.
Well, my own observation shows me that most people don’t know the first thing about basic finances: compounding interest, budgeting, critical thinking when seeing advertisements, and the cost of take-out vs making dinner are some examples.
For gods sakes, check your credit card and bank balances once in a while!. smh.
I count myself blessed for having earlier made the realization that I value financial security way more than the shiny new thing. What I also realized that often it’s not the shiny new thing where all my money goes to but it’s the repeating expenses from that daily starbucks coffee to groceries and utilities. If you find a way to save there it’ll start accumulating quickly.
That’s a big if.
A huge percentage of Americans (my family included) live paycheck-to-paycheck. There’s little or nothing left to save. They have everything from student loans to medical debts.
Criticizing someone for spending a few dollars a day on coffee to make their life a little more bearable is placing the criticism on the wrong party. You should be angry that anyone should have to make such unnecessary sacrifices. You should be angry that we can’t all get the shiny new thing if we want it.
