Posted on 04/12/2017 6:44:17 AM PDT by pabianice
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Fifty-three percent of U.S. households with at least $1,000 of financial resources had hardship while experiencing a financial shock in 2015, according to a report from Pew Charitable Trusts.
A financial shock is defined as an expense such as a car repair, home expense, hospital visit, or a sudden loss of income, which comes unexpectedly and households usually do not budget for.
In 2014, 56 percent of households incurred one of these unexpected expenses, and in 2015, which is the latest data available, that percentage dropped slightly to 53 percent.
"In both years, the typical family spent almost half-a-month's income to cover its most expensive shock, with a median cost of $2,000," the report said. "In 2015, half of respondents said their most expensive shocks made it hard to cover regular expenses..."
(Excerpt) Read more at freebeacon.com ...
Exactly.
Why is that every effort to make things “equal” on the left ALWAYS result in someone giving up what they have for those who don't have.
Why lower the standards for everyone so that the few can have theirs raised? Why not figure out a way to raise the few WITHOUT hurting everyone else.
More specifically, why nuke the whole healthcare system so that 20 million people, who probably don't care, can have free health insurance.
Same with "The Poor" (A bit dated, but the point is made):
Seems like our snowflake generation has never had to “maintain” anything. It’s not like their IKEA furniture will pass to another generation and their cellphone is in a constant state of upgrading and updating. Many of them have a car but it is new courtesy of parents and all includes maintenance as part of the deal. If they live in an apartment, anything that needs repair is not their responsibility and but a phone call away. Not sure what they would have in their lives that I would consider a financial crisis.
People are addicted to instant gratification.
I agree. I fear the next couple of generations are being set up by their teachers and even parents to be slaves in the future.
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