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.

[–]Jesus 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

But you have to take into account what that amount could purchase in that time period. I earned around 22 dollars in today's money working construction with father in 1970's at 13. Meaning I was making well over today's min wage as a 13 year old. It was 5-7 dollars at the time, something like that, but it bought much more. Now minimum wage is like the equivalent of 2 dollars back then.