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by michaelt
1220 days ago
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In the parlance of my country, if someone is "living paycheck to paycheck" they're a member of the working poor, people with no savings, desperately fighting to keep their head above water. Here is a survey saying 36% of Americans making >$200,000 are living paycheck to paycheck: https://www.lendingclub.com/asset/ls/cms/media-center/12th-p... There might be a handful of people earning that much who are in a difficult financial position - divorced airline pilots with expensive alimony payments, perhaps? - but it is extremely hard to believe that 36% of people earning 4x the US median income are the working poor. On the other hand, the 36% number would make much more sense if the survey had asked people "Do you depend on your salary to pay for your living expenses?" or "Do you have enough savings to pay for 3-6 months of basic living costs?" i.e. much more expansive definitions of what it means to live paycheck-to-paycheck. |
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I don't find that hard to believe at all, at least in the US. That income bracket tends overextend themselves and carry too much debt. A shockingly high percentage of people in it will be bankrupt in 5 years.