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Jan 10, 2019
11:30
:58
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mulletino
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mulletino
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BigRodThunder
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BYU-Provo
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mulletino
Joined
Feb 21, 2002
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Mar 21, 2024
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Messages
Author
Time
Heard on the radio this morning that 78% of Americans live paycheck to paycheck
mudpupper
1/10/19 10:54am
True for 99% of the world. It's difficult to earn far more money than you need. Otherwise, everyone would do it.
mulletino
1/10/19 10:56am
It's difficult to leave below your income, apparently. Need is relative.
SandYFan
1/10/19 10:57am
Your "needs" just shift depending how much money you make.
rcbyufan
1/10/19 10:57am
Tell that to the single mother of 3 who already lives in a crap hole and barely breaks even. If only she'd eat beans
mulletino
1/10/19 11:01am
Will do. She is an outlier.
SandYFan
1/10/19 11:02am
I think you're out of touch with most of the world's reality. But you do you.
mulletino
1/10/19 11:02am
Right, the world at large. Not in the United States.
SandYFan
1/10/19 11:05am
It's not as crazy as you think. Minimum wage doesn't provide much. Basic
Jay Rick
1/10/19 11:10am
Yeah but with the unemployment rate today, how are you getting paid minimum wage
SandYFan
1/10/19 11:17am
Being not as smart as others. Having parents that didn’t encourage
Jay Rick
1/10/19 11:22am
And if you ha e kids, you need a lot more than minimum wage to
Jay Rick
1/10/19 11:25am
I’m not sure you know what an outlier is
Dillinger
1/10/19 11:19am
70% of African-American children are born to single mothers. But they're just outliers. They'll get over it.
mulletino
1/10/19 11:30am
Link please.
SandYFan
1/10/19 11:35am
RE: Link please.
mulletino
1/10/19 11:36am
the crazy thing is that if you go back farther than this graph, black kids were actually more likely to be born in a 2
HarlemCoug
1/10/19 12:26pm
Yep. The war on drugs has completely demolished black families
CDV
1/10/19 1:17pm
Larry Elder (a black guy) claims that the welfare system ruined the black family. You get more free stuff if you aren't
HarlemCoug
1/10/19 2:34pm
I'm sure there isn't any one culprit. Complicated.
Jay Rick
1/10/19 3:04pm
Well, then I think Larry Elder is a black guy who got this one wrong. At least, if we are talking
CDV
1/10/19 3:35pm
I think the evidence will show that the family broke down first and then imprisonment rose. We definitely need
HarlemCoug
1/10/19 6:33pm
78 % of Americans are single mothers with 3 kids?
cougaman
1/10/19 11:29am
?
mulletino
1/10/19 11:30am
OP talks about how the majority of the country live paycheck to paycheck. You
cougaman
1/10/19 11:34am
I gave one example of a sizable segment of society that might struggle to get ahead.
mulletino
1/10/19 11:42am
Right. And there are numerous examples of families that could get ahead but
cougaman
1/10/19 11:44am
I don't disagree with you. But my neighborhood in SL County is hardly representative.
mulletino
1/10/19 11:45am
Right. OP is just saying that the 78% is way too high and I agree with him.
cougaman
1/10/19 11:58am
Right and I agree. But my point has been that the vast majority of the world lives by the sweat of their brow day/day.
mulletino
1/10/19 12:22pm
Not to sidetrack your discussion, but that scripture is pretty interesting if
rcbyufan
1/10/19 12:41pm
I'm not denying her existence. Her "needs" would absolutely shift if you doubled
rcbyufan
1/10/19 11:42am
TIL 78% of the population are single mothers of three living in a craphole and splurging on beans too frequently
SuperTank
1/10/19 3:51pm
Habituation...
dtownCoug
1/10/19 11:29am
No it's not true for 99% of the world. In East Asia the savings rate is 20-40%
BeefNoodleSoup
1/10/19 11:02am
How much of the world's population is that?
mulletino
1/10/19 11:03am
China itself is 20%
BeefNoodleSoup
1/10/19 11:08am
And what % of China does what you're suggesting? Sorry, should I have said 95% instead of 99%?
mulletino
1/10/19 11:09am
Well the mean savings rate is 46% in China. If you fit a normal distribution on
BeefNoodleSoup
1/10/19 3:23pm
ha. No way 50% of China saves 46% of their income. But I'd look at some data.
mulletino
1/10/19 3:49pm
Yeah, most stats from China are bogus. But the same pattern of 25-40% is norm
BeefNoodleSoup
1/10/19 4:27pm
It's not difficult
donnerstag
1/10/19 11:04am
Seems difficult for most considering most don't/can't accomplish it. Congrats on what you're able to do.
mulletino
1/10/19 11:05am
Most people don't, but those with decent jobs could
donnerstag
1/10/19 11:07am
Most of those people (in the U.S. anyway) do have iphones and internet and
Northwest Cougar
1/10/19 11:09am
Average income Utah County is $73k, median is $60k. That is way more than enough
BYUFootballisBack
1/10/19 11:16am
I don't think Utah County is an accurate reflection of most of the world. But no doubt you may be right for certain
mulletino
1/10/19 11:18am
Just giving an example of even places where life is good and people have plenty
BYUFootballisBack
1/10/19 11:28am
Naturally. What exactly are you working for if you don't increase your lifestyle as you increase your income?
mulletino
1/10/19 11:33am
You have to balance the future and present when handling your finances
donnerstag
1/10/19 11:39am
I don't disagree with you. Yet the human condition remains.
mulletino
1/10/19 11:43am
Financial freedom/independence. More time with family/loved ones...
BYUFootballisBack
1/10/19 12:01pm
There's also a law of diminishing returns with frugality, IMO. I have a very balanced "enjoy life to the fullest"
mulletino
1/10/19 12:17pm
If my life goes like my parents’ has, there will be very little fun to be had
Jay Rick
1/10/19 12:57pm
RE: Average income Utah County is $73k. That doesnt go as far as you would think
edenham103
1/10/19 11:33am
Family of 3 here in our 20s. 2 years ago we were making under 50k and saving
BYUFootballisBack
1/10/19 12:06pm
If you gave most people $20,000, they would find a place to spend it
fredy
1/10/19 10:57am
It's a bit of both, I think you are underselling the plight of the lower middle
fbguru
1/10/19 10:59am
I saw a stat a year or two ago that said that most people who make up to 225k
newbie
1/10/19 10:59am
I’m living paycheck to paycheck now that wife stopped working & still put away
pegushin
1/10/19 11:01am
Thankfully that stat included 401K
newbie
1/10/19 11:02am
I mean, I am. It's not a literal "no one."
SandYFan
1/10/19 11:02am
For the most part I think you're right. Too many people are irresponsible and
Dynasty1
1/10/19 11:08am
At what age do you think the average person should have their finances in good enough order to not be living
HarlemCoug
1/10/19 11:08am
It varies based on life situation. Unexpected medical burdens, divorce, long
DJROSS
1/10/19 11:13am
That stat is a little misleading.
Nathanael Greene
1/10/19 11:14am
My wife was an administrative assistant and her boss made 160K plus bonuses. Her
cougaman
1/10/19 11:25am
Have you ever been unemployed for more then a year?
Canusa
1/10/19 11:29am
Sure many people have special circumstances. But when 78% of the people fall
mudpupper
1/10/19 12:09pm
This is the part that many people miss. One major illness, accident, or job loss
WDaddy
1/10/19 12:11pm
It’s a very complicated issue
troutmaster13
1/10/19 11:50am
explain how the "cards are stacked against" the poor. I think the cards are stacked against those with a low IQ, but
HarlemCoug
1/10/19 12:29pm
You underestimate how much influence your parents and social network
Jay Rick
1/10/19 1:00pm
Yet sometimes some of the most successful people didn't have that
Northwest Cougar
1/10/19 1:19pm
Definitely. But those are true “outliers.” Not at all the norm. The advantages
Jay Rick
1/10/19 2:08pm
And yet people with large numbers of siblings show vastly different outcomes
rcbyufan
1/10/19 2:11pm
meh. I'm sure there are differences here and there. but sociologist track
Jay Rick
1/10/19 3:24pm
so does that mean our society is broken? or does it mean there is a problem we need to fix? or does it mean that
HarlemCoug
1/10/19 2:39pm
No clue. I don't have answers.
Jay Rick
1/10/19 3:21pm
I agree that networks are material - I disagree that I underestimate them. If parents work hard for the sake of their
HarlemCoug
1/10/19 2:36pm
I don't even have anything to say about the government. I don't know what
Jay Rick
1/10/19 3:25pm
I view my assets in blocks of monthly living. +5 or +14 like that.
ClackamasCoug
1/10/19 12:04pm
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