Posted on 09/18/2023 4:51:34 PM PDT by ChicagoConservative27
It’s not just low-income Americans drowning under inflation and interest rates — some higher-income folks are feeling the strain on their wallets as well.
Data from a June survey conducted by personal finance software company Quicken revealed that 32% of Americans earning at least $150,000 a year are currently living paycheck to paycheck, while 36% of folks earning $50,000 to $150,000 and 55% of households earning less than that reported the same.
(Excerpt) Read more at moneywise.com ...
Live below your means. Debt is slavery. Enjoy the decline, Progs.
When we asked our Dad for a dollar, he’d point us to the garden hoe and say ‘weed four rows of corn at a quarter each.’
I needed a termite quote. 3500. I needed plumbing 3800 estimate. I needed electrical work estimate 2200. I needed floors redone. 22000 dollars for joists and demo. 4000 to install hardwood. I needed pool pump repair. 1200 estimate. Septic tank replacement 8000. Pool Screen repairs 2500. Lawn service 150 every time he shows up 2x a month. Food for 1 , 130 a week.
I make 6 figures. No I can’t keep up. Delayed retirement since 2020.
Obviously a lot of people didn’t see the writing on the wall the day The petulant man child Barry the Muslim was installed.
Hold back a little when you are young and your old age won't be so spare.
My salary is a little over $51K. While I am setting some money aside, it’s going toward property tax and home insurance eventually. So yes, I’m mostly check-to-check, whereas a few years ago, I might have been able to actually squirrel away something.
Let’s go, Brandon!
I have some work to be done on my house. I’m putting it off until I can get a little more money. Let’s go, Brandon!
I’ve been there, Kobra.
Here’s how we survived the avalanche of medical debt ($100K) that almost crushed us into bankruptcy.
1. If you need something, check Good Will, Salvation Army, thrift stores, and pawn shops first. Clothes, coats, housewares, dishes, and decorations can be found at seriously discounted prices versus buying new. If you find it, like it, it fits and is in great shape, grab it.
2. Buy a grooming kit from Walmart for $20. I learned how to cut my children’s and husband’s hair at home and saved a fortune.
3. Need tools, a bike, bling for the wife? Pawn shop.
4. Cook at home. Groceries may be expensive but they are still a fraction of fast food. For example, it costs less money and fuel to buy two whole birds and cook them at the same time than to fire up the stove every night. Eat one for Sunday dinner and pull the chicken meat from the other and store it. Chicken tacos, chicken wraps, chicken bake, chicken salad, you get the point. You can get 4 dinners out of that second bird. You can use leftovers for lunch. If you like chips, buy a big bag and separate it into smaller ziploc bags to toss in your lunchbox. Much cheaper than buying individual bags at the gas station or corner store.
5. Forget bottled water, soft drinks, etc. Buy reusable water containers and fill those instead. Add lemon wedges, lime, or fruit for flavoring. Buy a water filter for your home tap to purify it. Your body and wallet will thank you.
6. Layer in the winter and wear slippers in the house. Heating can be expensive.
7. Network. Have friends that are in trades? A CPA to help at tax time? I tapped my network to get things done and helped them when they needed it, too.
8. Museums, parks, city gardens, free concerts, community theater. You can have a good time, grab some free entertainment, enjoy a night out all without breaking the bank.
9. Challenge each other. If we needed something, I was tasked with finding it for the best price. My husband grabbed coupons everywhere he could. Whatever we saved went towards the debt.
10. If you have debt, restructure it. Call the company directly; most will work with you, freeze interest, etc.
11. One big gift a year. Instead of having my husband buy miscellaneous gifts for Valentines, birthday, mother’s day, anniversary, and Christmas, I asked him to just get me one big thing (usually something from the pawn shop).
12. Fix it. Instead of replacing, fix it if you can. Sew, paint, repair.
13. Move up. I had capped out where I was. I went out on a limb, made a lateral move to a field with more growth, and now I’m a Senior Executive. Let your boss know you would like to move up, do more. See if there is growth potential.
14. Learn something new everyday. Sharpen your skills, earn credentials, teach yourself. Grow! A volunteer position in a trade organization landed me a job making 10K a year more just because I had experience hosting a trade show (see networking).
15. Volunteer. When people get to know you and your character, your work ethic, they will keep you in mind if they hear of an opportunity.
16. Get rich quick is for Hollywood and scammers. Grind, my man. Grind. Do it with a smile. At one time I had a full time job and cleaned houses on Saturdays (the Saturday money went into the kitty for Christmas presents for the kids).
Hang in there! It does get better. But only you and your wife have the power to change your circumstances and you both need to be on the same team.
If you don’t have a budget, build one. Be realistic. See where your money is going. Control your wallet or it will control you.
Run your life like a one-storey cat house : no f’ing overhead
Added to by 20 +++ years of PARTICIPATION TROPHIES
GREAT RESULTS, EH???
I never grossed more than $63,000 in my entire life.
OWN all my property/vehicles/personal items/horses, etc.
NO mortgage
NO car payments
I have NOT had a car payment since 1984.
NO mortgage payment since 2004.
HOW many families have a monthly cell phone plan that costs more than a mortgage???
Find others & BARTER !!!!!
Especially electric ones.
>> “Quicken revealed that 32% of Americans earning at least $150,000 a year are currently living paycheck to paycheck”
“Quicken revealed”, eh?
How do THEY know?? By pawing through their customers’ data?
Bet your behind that these people:
-buy a lot of fresh organic produce and don’t use it all
-eat out often
-order in often
-have expensive cell phones (“have to get the latest”)
-newer cars with payments
-cable or satellite TV plans
-high speed internet plans
-go to the Dr. At first sign of a sniffle
-new clothes at least once a month
Just to make a few things. People have a lot of crap they don’t need.
I owe nothing except the mortgage on my house at a very low interest rate. It is only 120 k. I have enough money to pay that loan off. Today I earn more interest in CDs than the interest on my mortgage. When and if that reverses I will pay it off.
My grandparents who knew the depression and raised me, taught me well.
Too many people overspend and borrow money.
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