65% of consumers reported living paycheck to paycheck
Seems like the headline is just another way to say the same.
At the same time USA is one of the richest countries in the world?Richest by GDP. And extracting all the wages they pay us is the optimal way to maximize GDP.
Money sitting in accounts making interest does not contribute to GDP.
Doesn’t the interest come from lending out the money?
The fear of destitution makes workers obedient and compliant.
Only 2/3?
That was my thought… if you don’t need at least part of a paycheck to pay bills, you must be in great shape… or you aren’t managing your money correctly.
“Nah, nah, I don’t need to set aside any of this check for rent, I’ll just pay it all out of the next check…”
I have enough saved up that I could probably go a couple months without pay before I ran out of money. Honestly, I’m not even that well off: Most months I spend my paycheque ±5%, if I go over I take it from a buffer account where I have about 60% of a paycheque and try to backfill it over the next couple months.
In my situation, I’m regularly low-key stressed that my buffer account is running low, and that I haven’t been able to backfill it for several months in a row. I can’t even begin to imagine how stressful it must be not even have something to fall back on if you suddenly get an extra expense that eats 10 % of your paycheque one month.
That was my thought… if you don’t need at least part of a paycheck to pay bills, you must be in great shape
I suppose it’s all relative, but in many cases being able to survive one missed paycheque could mean simply having $1k in the bank. Surviving several months is another story.
Jesus, where has everyone been? Through this period of supposed best economy ever( before trump made it even worse) I was laid off. 4 times.
From 2013 to 2024. And I’ve been unemployed for over a year. Jobs are under paying, under manned, and overly abused.
People have been week to week for decades. We’re just myopic, selfish zombies who don’t look past ourselves to see how bad others have it
And corporations keep bragging about “record profits”.
Guess who the money they make is coming from. And every quarter they come for more.
It would be the best if my economy could handle missing a few paychecks.
Or if I earned like 10 times my housing+living expenses I would have a very different approach to working.
The other 1/3 just work for fun I guess?
It’s taking about not having emergency savings
I get that, but I’m talking about the headline being written weird. Everyone works because they need their paycheck to pay their bills, otherwise they wouldn’t work.
There are “financially independent” people who continue to work despite not needing it.
Obviously I’m speaking in broad generalizations here, I know even billionaires ‘work’ and shit, but they’re not 1/3 of the population. shrug
The other third won’t bother.
I need every paycheck to pay bills.
I got a decent refund so I’m okay for one paycheck as long as I can fix my car for cheap
