55% OF AMERICANS LIVE PAYCHECK-TO-PAYCHECK
G.E. Miller, Jan. 21, 2019
Actually, that’s inaccurate. 36% are living paycheck-to-paycheck, 19% are actually worse off than that – accruing debt. That means that about 6-in-10 people you pass walking down the street (as they enter clothing stores and bars) are saving absolutely nothing or worse.
And only 35% are “certain they could come up with the full $2,000” if an unexpected need for $2,000 came up within the next month (similarly, 40% claimed to have set aside 3 months or more in an emergency savings fund).
Sadly, it’s one of the pre-dominant financial memes out there because “spend less than you earn” is often taken as “spend almost everything you earn”. It’s easy to prescribe, easy to follow, and universally understood.
IT’S ALSO A RECIPE FOR DISASTER.
What happens when you consistently live paycheck-to-paycheck?
• You go into serious debt if income stops coming in, and then you pay high interest on that debt
• You are always stressed out about financial risk and hardship
• You aren’t able to build sufficient emergency savings
• You will never save anything for retirement and will be working until death
• You will never achieve financial independence
• You will not be able to save up for an occasional vacation, home improvement, education, etc.
• You really can’t work towards ANY future goals that are reliant on saved assets
Earning more does not cure all.
It doesn’t have to be this way. Granted, those in the very lowest income brackets are not going to be able to save much, if anything (no matter what McDonald’s PR firm tries to sell us).
But the median US household income is $61,372. Outside of West and East coast metros, anything nearing this level of income should be adequate enough to provide a level of savings for most individuals and small families.
EVERYTHING IS NOT OK. STOP THE MADNESS!
https://20somethingfinance.com/percentage-of-americans-living-paycheck-to-paycheck/
G.E. Miller, Jan. 21, 2019
Actually, that’s inaccurate. 36% are living paycheck-to-paycheck, 19% are actually worse off than that – accruing debt. That means that about 6-in-10 people you pass walking down the street (as they enter clothing stores and bars) are saving absolutely nothing or worse.
And only 35% are “certain they could come up with the full $2,000” if an unexpected need for $2,000 came up within the next month (similarly, 40% claimed to have set aside 3 months or more in an emergency savings fund).
Sadly, it’s one of the pre-dominant financial memes out there because “spend less than you earn” is often taken as “spend almost everything you earn”. It’s easy to prescribe, easy to follow, and universally understood.
IT’S ALSO A RECIPE FOR DISASTER.
What happens when you consistently live paycheck-to-paycheck?
• You go into serious debt if income stops coming in, and then you pay high interest on that debt
• You are always stressed out about financial risk and hardship
• You aren’t able to build sufficient emergency savings
• You will never save anything for retirement and will be working until death
• You will never achieve financial independence
• You will not be able to save up for an occasional vacation, home improvement, education, etc.
• You really can’t work towards ANY future goals that are reliant on saved assets
Earning more does not cure all.
It doesn’t have to be this way. Granted, those in the very lowest income brackets are not going to be able to save much, if anything (no matter what McDonald’s PR firm tries to sell us).
But the median US household income is $61,372. Outside of West and East coast metros, anything nearing this level of income should be adequate enough to provide a level of savings for most individuals and small families.
EVERYTHING IS NOT OK. STOP THE MADNESS!
https://20somethingfinance.com/percentage-of-americans-living-paycheck-to-paycheck/
20somethingfinance.com
A Shocking Percent of Americans Live Paycheck-to-Paycheck
Find out what percent of Americans live paycheck-to-paycheck, spending what they earn (and more), and sadly think they are doing just fine.
VID-20200324-WA0021.mp4
17.1 MB
Dr. Anthony Fauci
American Immunologist
Director of the National Institute of Alergy and Infectious Diseases
American Immunologist
Director of the National Institute of Alergy and Infectious Diseases
"A canary in a coal mine" is an advanced warning of some danger. It originates from the times when miners used to carry caged canaries while at work; if there was any methane or carbon monoxide in the mine, the canary would die before the levels of the gas reached those hazardous to humans.
Forwarded from utubebot
Media is too big
VIEW IN TELEGRAM
Protecting Your Family From COVID-19 by Dr. David Price
THANKS SHALLY & NILOUFAR
https://m.facebook.com/story.php?story_fbid=2942412619130302&id=153265661378359
https://m.facebook.com/story.php?story_fbid=2942412619130302&id=153265661378359
This media is not supported in your browser
VIEW IN TELEGRAM
Let's Learn English
#LearnEnglish
#LearnEnglish
Eight U.K. Doctors Died From Coronavirus. All Were Immigrants.
In a country where anti-immigrant sentiment gave rise to the Brexit movement, Britain’s health care system depends heavily on foreign doctors, who are now on the front lines fighting the epidemic.
https://www.nytimes.com/2020/04/08/world/europe/coronavirus-doctors-immigrants.html?smid=fb-nytimes&smtyp=cur
In a country where anti-immigrant sentiment gave rise to the Brexit movement, Britain’s health care system depends heavily on foreign doctors, who are now on the front lines fighting the epidemic.
https://www.nytimes.com/2020/04/08/world/europe/coronavirus-doctors-immigrants.html?smid=fb-nytimes&smtyp=cur
NY Times
Eight U.K. Doctors Died From Coronavirus. All Were Immigrants. (Published 2020)
In a country where anti-immigrant sentiment gave rise to the Brexit movement, Britain’s health care system depends heavily on foreign doctors, who are now on the front lines fighting the epidemic.