Simple, they don’t qualify for government perks. And if they do, don’t know it.
I just figured out how to make $3 worth of sphagetti sauce from an 88¢ can of tomato paste and some inexpensive spice powder. I’m feeling pretty good.
We’re spending more on hotels — want to spend time seeing a few aging family we may not ever see again, as well as spending it with our kids/grandkids — just seeing all who matter most before harder times hit, honestly.
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Maybe that is because they can AFFORD to?
(Just a wild guess...)
“Across the board, households are cutting back on recreation, alcohol, vehicle insurance, and other services in December, “
I guess I’m abnormal, but “vehicle insurance” isn’t really a category where I’m able to dial down my spending on a monthly basis.
How dare you not spend yourself to $0.00!
WTF is wrong with these people?
While no guarantee, it’s likely that alot of 100k+ earners are smart enough to read the spaghetti on the wall and are bracing for the coming year.
Households with incomes greater than $100k have long since learned impulse control?
They are more educated and therefor they see the coming SHTF.
People under 100k probably don’t have the discretionary spending that people over 100k do, and people are expect a crash in 2023 economically. They are holding on to money expecting better deals.
they bought all the sh!t they dint need???
We live pretty comfortably but have been cutting back. I realized I don’t need to use as much cleaning products or could be happy without some of the conveniences I use to buy. There were never any tissues at the grocery store during lock down. So we used handkerchiefs. Now that stock is back, I don’t bother buying tissues.
They have more discretionary spending go cut…
Duh
What’s going on?
2 years of Biden if all else fails open eyes.
“Across the board, households are cutting back on recreation, alcohol, vehicle insurance, and other services”
Pretty much checks out.
Recreation - already pretty low. Hiking is cheap. Our gym membership is also very inexpensive. Have cut back to eating out maybe once per week.
Alcohol - always looking for the best deal. Found relatively inexpensive Scotch that’s good enough and cheap bourbon that isn’t completely horrible. I make my own beer, but I always look for the least expensive ingredients. A case of craft beer for $25 and little time isn’t bad.
Vehicle insurance - priced that out last year. We can’t really adjust that.
Overall, yes we are cutting back on going out to eat, and we are looking for better deals on literally every expense. Our second freezer is getting eal use now. Gas and food are through the roof.
Because $100,000 is the new $35,000?
100k family of four is squeezed harder than any other group. They get no freebies from uncle sugar, they pay high property taxes to keep their kids out of crappy schools, they pay full pop for college, they actually pay medical debts because they have just enough assets to be afraid of bankruptcy but they don’t truly make enough to enjoy the restaurants, cars, and vacations of the 150-200k crowd. Ymmv based on location.
People I know who make much more than 100K are very aggressively saving.
Buy Nothing Project is a huge draw. It is surprising how nice the items are that are swapped. It cuts down on the amount of things bought, and those that are trashed.
It is counter cultural and I think, goes deeper than just saving. The movement to buy less is also a very doable rejection of the current system. It is not a Save the Planet moment as much as it is a screw the billionaires and the horses (politicians) they rode in on.
$100K is the new $50K
“Have you seen the price of Arugula lately?!”