Most Americans are one paycheck away from the street

MarketWatch ^ | 1-6-2016 | Quentin Fottrell

[stocksthatgoup]

Thank you, Mr. Obama

[stocksthatgoup]

Thank you, Mr. Obama

[sparklite2]

I was a customer of State Farm for forty years. Then a few years ago, they started jacking up the rates severely. I had filed one claim in all those years and that was twenty years ago when I was rear-ended for which the other driver’s insurance eventually reimbursed State Farm for collision claim. Plus, my homeowner’s policy was also State Farm.

I signed with another company, and when SF called to let me know my policy with them was about to expire, they made no effort to keep my business. I learned a lesson about consumer loyalty then. It’s no longer valued.

[RipSawyer]

The tale of American wealth has always been exaggerated but it has never been more exaggerated than recently. I was born in ‘44 and we were surrounded by family farms back then. The typical small farmer in our area then who described himself and family as “po folks” owned from forty to a hundred and sixty acres, a house, livestock, barns and equipment, had little or no debt and some money in the bank. Most heated their houses with wood cut from their own land and ate mostly what they grew. Going six months with no income would not have caused them to lose their homes or go hungry. No one wanted to ever ask for help from government or others. Compare that to today. People now have toys that were undreamed of then but are far worse off as far as economic security. Where people used to have a big pantry full of home canned vegetables and salt cured hams hanging up and ate wild game in the winter and fish from streams or ponds all year many don’t have enough on hand now to eat for two days.

[erlayman]

True. Every bit helps at least a little. Although it is tough to invest in the market without access to a retirement plan or broker through work.

[PoloSec]

How can this be the government says there is zero inflation prices are no longer going up there should be plenty of money for saving, of course it is my fault I just can’t find all those stores were prices are not going up.

[grania]

I've made the same kinds of budget decisions you have. Not one of those cuts causes a decline in lifestyle.

Another thing I do is "shop in my closet". It's amazing, if you take inventory, how few purchases are really necessary.

[Eaker]

Many people don’t have a home phone now days so a cell is quite necessary.

[grania]

Good luck with that kids

Everything they must have has no substance, it's all monthly expenses. It seems like the powers that be are programming people to have nothing that's real, so it's easier to house them in small spaces and keep them controlled.

At my age (70) you can see where the attitude is heading for senior citizens. They keep trying to put us in smaller boxes....over-55 town home or apartment, then assisted living, then a nursing home. After that? Ashes in an urn (that coffin takes up too much space), or better yet tossed to the four winds.

[Paladin2]

Well, I shop for 22LR from my closet, but am stocking up on the bigger stuff.....

[Gay State Conservative]

My father,a child of the Depression,taught me many worthwhile things.Among the most valuable was to work hard,save like crazy and live below your means.My Dad was pretty successful in life thanks to his intelligence and work ethic and by the time he reached middle age he could have afforded rather nice things but didn't buy them.He always drove Oldsmobiles when he could have afforded *much* better.He always wore a Timex watch (which I now have as a memento) when he could have afforded *much* nicer.

I wonder if there's a lesson to be learned by many in this country from people like my Dad.

[Vigilanteman]

Better than the odds of ObaMao turning into a patriotic American.

[varyouga]

You can buy a smartphone these days for $20 and unlimited plans from local carriers can be had for $20-$40/month

Cell phones are now cheap enough for the 3rd world.

They also replace many things like newspapers, flashlights, calculators, maps, dictionaries, cameras, music players, compasses, gps navigators, encyclopedias, etc, etc, etc. So you end up actually saving money by owning one.

That’s why you see refugees landing on shores in boats with not much more than their smartphones. They are incredibly useful tools and very very cheap now.

[Paladin2]

I still have a land line that has digital (now called “pulse” - none of that Old Skool analog touch tone stuff for me...) dialing...

[Paladin2]

"consumer loyalty then. It’s no longer valued."

Generally True Dat.

[fuzzylogic]

hmmm, have you looked for a public pay phone lately? I consider mine a necessity.

[Cheerio]

Most Americans are one paycheck away from the street

Couple that with recent headlines "95 Million not in work force and 46 million on food stamps" and then go on to tell me how big a fib is the nation's LIAR-IN-CHIEF spinning when he announces to great fanfare and attendant seal-clapping that we are in such a healthy economy with the 5.0 percent unemployment rate that HE BROUGHT US.

The nation has become addicted to this boy king's habitual lying and we will soon have his third term if the RATS, socialists, commies, and LIV get their way in Nov 2016.

[Flick Lives]

More money and education can help.

---

Hold on. Let me write this down. The solution to being without money is “more money”. That’s brilliant.

[Resolute Conservative]

And you get .03 cents interest. Isn’t that cool?

[TruthWillWin]

Where can I find savings rates that high? lol.