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by hattmall
1931 days ago
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This is just you having "extra" money. I guess it's a demographic thing but do you (and everyone else) not understand that over 50% of people (in the US at least) don't have "extra" money. The money they make is already allocated before it's made, any sort of "extra" spending goes on a credit card or forces some other payment to be not made on time, often incurring fees. In some cases that money would deplete a small savings balance. This is pre-covid numbers but 69% of Americans have less than $1000 in savings. 45% have no savings, and roughly 30% spend more than they make each month, accumulating and juggling credit card balances / short term loans. I'm from a poor area in the US and most people have $0 "extra" money. As an example my high school 10 year reunion was a few years ago and the target goal was $20. Even with a year's notice most people said that would be too expensive and they wouldn't have it. ($40 per couple). We had multiple fundraisers to try and get everyone to participate. The fundraisers were everyone buying extra chicken wings with their food stamp cards and giving it to a local restaurant that cooks them and sells fundraiser plates and a car wash sponsored by the bowling alley that gives a free game to anyone who gets a $5 car wash. |
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I don't fully trust that story. Maybe many of the people who have "no savings" have a mortgage to pay off? Technically they have a debt and all spare money goes to the bank, but really they own a house that is worth more than the debt?
In such cases I'd say it is more of a mindset issue.