1/3 of Americans earning $150,000+ a year say they're living paycheck to paycheck

submitted by hfxB0oyA from finance.yahoo.com

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[–]Credit2Saidit 6 insightful - 1 fun6 insightful - 0 fun7 insightful - 1 fun -  (2 children)

This is absolutely hilarious. Apparently, no one knows what "savings" is anymore. Save money for things you need (or may need on a rainy day)? Nah. Just borrow the money at an absurd interest rate and make minimum payments each month.

Doesn't matter if you make $15,000 a year or $150,000. If you don't know how to exercise restraint in spending and prudence in SAVING, you're going to have a bad time.

[–]Dragonerne 6 insightful - 1 fun6 insightful - 0 fun7 insightful - 1 fun -  (1 child)

The reason for this is that the current economical system privileges that sort of people due to inflation. If you're not going into insane debt, then you're losing money. A few decades ago, you could buy candy for a few cents.
The 100 dollar an hour you earn now? It will be worth less than a dollar a few decades from now. Have fun saving.

[–]newguy 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Yes if people are offered the option to have a $500k house with zero down, where they can pocket all the gains in equity... of course they're going to take that. They'd be stupid not to.

Of course the flip side is if the housing market crashes, then you can be underwater and owe more than it's worth...