Only 25% of Americans Could Scrounge Up $2000 In One Month?

[LeilaniMP]

http://www.businessinsider.com/only...hey-could-come-up-with-2000-in-a-month-2011-5 (...and things are worse now for many now than they were when the column was published)

Approximately half of all Americans say that they could not come up with $2,000 within 30 days without selling away some possessions?

What the Heck?

That’s a shocking and scary statement. It means half of the population is one missed pay check, or more likely, government check, away from starvation, rioting and looting.

 

[OldGaffer]

Dog eat dog, survival of the fittest, devil take the hindmost, and sorry about their luck. Lets go to the "Calcutta option", and end these expensive programs like food stamps, unemployment, medicare and social security.

 

[Cotton2226]

That’s a shocking and scary statement. It means half of the population is one missed pay check, or more likely, government check, away from starvation, rioting and looting.

over the top... it would have happened by now if that was true!

 

[NightSwimmer]

Oh well... The trickle-down theory never promised a waterfall. The United States is a much wealthier nation per capita than it was in 1980. Why worry about precisely where the wealth resides? Are you trying to foment class warfare?

 

[PhilFish]

statistically...depending on the source...some 42 to 50+% of americans live paycheck to paycheck...

http://www.google.com/search?hl=en&...6129l0l6348l35l30l0l18l1l0l297l1948l0.4.5l9l0

 

[LeilaniMP]

I've heard that Phil.

Scary stuff.

 

[LeilaniMP]

Zzzzzzzzzzzzzzzzzzzz

Oh well... The trickle-down theory never promised a waterfall. The United States is a much wealthier nation per capita than it was in 1980. Why worry about precisely where the wealth resides? Are you trying to foment class warfare?

 

[lupehernandezdepedajack]

What percent of the 75% have

Nice Homes (mortgage)
nice cars (car loan)
premium cable package
Cell phone with all services
maybe a jet ski or snowmobile
credit card debt for luxuries not necesities
student loan debt, my guess is half of em never graduated

This could be an underlying problem that will result in more economic stagnation as people start to downsize their lifestyles

 

[LeilaniMP]

Exactly.

In our family, we were brought up to not buy things you can't afford and to never owe more than you could pay back immediately, if needed.

I pay my credit card balances every month (why should they get those interest fees?), and wouldn't use them at all, except for the perks that come with them. (Heck....when I got a new kitchen, I split the cost between two and got a free two week trip to Hawaii on points)

I live below my means, because you never know what tomorrow is going to bring.

What percent of the 75% have

Nice Homes (mortgage)
nice cars (car loan)
premium cable package
Cell phone with all services
maybe a jet ski or snowmobile
credit card debt for luxuries not necesities
student loan debt, my guess is half of em never graduated

This could be an underlying problem that will result in more economic stagnation as people start to downsize their lifestyles

 

[worldlymrb]

They could only scrounge $2K if they didn't pay rent, utilities, and their cable bill

 

[LeilaniMP]

Yep.

One of my girlfirends is forever complaining about money, BUT....does she

• stop smoking at $8+ a pack?
• stop eating out at pricey places?
• stop shopping for crap?
• stop smoking pot at $150/week?

No, she doesn't. I used to feel sorry for her and take her grocery shopping, but not anymore. If she can afford cigs and crystal skull vodka, she can buy her own food.

I also know a couple who haven't paid their mortgage in months, but who are out drinking and partying at least 3-4 days a week, going on ski vacations, going boating...

If people are going to be irresponsible, that's their problem...why should the rest of us have to bail them out?

They could only scrounge $2K if they didn't pay rent, utilities, and their cable bill

 

[lupehernandezdepedajack]

In our family, we were brought up to not buy things you can't afford and to never owe more than you could pay back immediately, if needed.

I pay my credit card balances every month (why should they get those interest fees?), and wouldn't use them at all, except for the perks that come with them. (Heck....when I got a new kitchen, I split the cost between two and got a free two week trip to Hawaii on points)

I live below my means, because you never know what tomorrow is going to bring.

Oops I left off 10 dollar lunches instead of brown bagging it for 2 bucks.

 

[LeilaniMP]

Don't forget the $5 lattes, etc., from Starbucks....

Oops I left off 10 dollar lunches instead of brown bagging it for 2 bucks.

 

[Number_58]

I don't agree that they should be done away with...however, they will have to be reformed in one way or another to remain solvent instead of completely draining.

 

[zzigzzag]

What's funny is that this is a revelation to you. The only thing funnier is that your compatriots see gross indulgence at the bottom as the problem. How dare the serfs think they can employ technology like the elite? A movie? A drink? A cigarette? Arrogant little pricks!

Y'all are ignorant as hell. How about if the ones you worship employ someone who isn't a Chinese slave? You know....the "job creators".

 

[Number_58]

Four or five years ago, my wife and I took Dave Ramsey's "Financial Peace University" course. We paid off every bit of our debt following the steps he lays out in his book. We are almost to the point in our life where we don't have to borrow ANY money. Everything bought is with cash. I think one of the biggest problems with people now (that I have witnessed primarily with younger people; I'm 44) is that they don't want to wait to own what it took their parents decades to accumulate. They have to have the big, nice house...the two $45,000+ cars in the driveway...the 60" LCD television in the living room...the boat...the club memberships...etc, etc, etc.

 

[lupehernandezdepedajack]

What's funny is that this is a revelation to you. The only thing funnier is that your compatriots see gross indulgence at the bottom as the problem. How dare the serfs think they can employ technology like the elite? A movie? A drink? A cigarette? Arrogant little pricks!

Y'all are ignorant as hell. How about if the ones you worship employ someone who isn't a Chinese slave? You know....the "job creators".

Hell yes they are just a bunch of "Bitter Clingers" clutching their copy of Dreams of my Father and clinging to their I-pods and I -phones and credit cards

LOL

 

[lupehernandezdepedajack]

What's funny is that this is a revelation to you. The only thing funnier is that your compatriots see gross indulgence at the bottom as the problem. How dare the serfs think they can employ technology like the elite? A movie? A drink? A cigarette? Arrogant little pricks!

Y'all are ignorant as hell. How about if the ones you worship employ someone who isn't a Chinese slave? You know....the "job creators".

Whats even funnier is that I use a prepaid cell phone usually about 20 bucks a month. I bring my lunch to work, I live in a modest home , don't have cable, have 15.00 a month internet and drive a 12 year old car so that I can scrape up 2000.00 on demand in addition pay for most of the kids' college. And you seem to think those kind of things are bad...Whats up with that????

 

[zzigzzag]

I don't agree that they should be done away with...however, they will have to be reformed in one way or another to remain solvent instead of completely draining.

But without imposing on those who have everything....right? You know....the .5% who possess more wealth than the other 99.5% combined....some $14 trillion. How does that work?

 

[LeilaniMP]

Here's a revelation for you: If you can't afford something, you don't have it

If a person can't make ends meet, they have to get rid of the "luxuries" and only have "necessities".

You do NOT need a cell phone, IPod, IPad, cigs, booze, pot, partying, movies, etc.

You DO need a roof over your head and healthy food in your stomach.

Hey...if a irresponsible people want to toss their financial security away on crap, that's ON them and not on me to provide it FOR them.

Your faux indignation is a hoot!

What's funny is that this is a revelation to you. The only thing funnier is that your compatriots see gross indulgence at the bottom as the problem. How dare the serfs think they can employ technology like the elite? A movie? A drink? A cigarette? Arrogant little pricks!

Y'all are ignorant as hell. How about if the ones you worship employ someone who isn't a Chinese slave? You know....the "job creators".