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How many people were surveyed? What are their jobs and salaries? Really hate surveys that make these conclusions because the first thing I think of is that they're all in minimum wage jobs who work 3 jobs just to barely pay the bills. I would either like my stereotype confirmed or debunked.
You know, I see this statistic and I still don’t believe it. I’ve been to and lived in some of the most economically stressed places in this country, so I know what true poverty is. I see the horrible cash advance places on every corner. Hell, I was homeless as a teenager. But 40%? FORTY? I don’t see it.
Even when I was a student making 6 to 15k, I could have “afforded” an unexpected $400 expense. Even upon graduation with near no credit I could get thousands in credit cards. I could have used student loans funding.
People get by all the time. They adjust. They struggle. They go without. Do i think 40 percent of people just truely are sunk and unable to make a $400 expense? No. That’s basically saying people are like a broken car part, dental bill, or a new tv or chair, or a speeding ticket away from bankruptcy/homelessness.
Maybe people’s grasp of finance is just so bad that they don’t even understand the question.
People get by all the time. They adjust. They struggle. They go without. Do i think 40 percent of people just truely are sunk and unable to make a $400 expense? No. That’s basically saying people are like a broken car part, dental bill, or a new tv or chair, or a speeding ticket away from bankruptcy/homelessness.
Ya think?
Note that it doesn't say 40% go down the tubes over $400. It says they don't have that much to spare and have to borrow it - which includes your magic credit cards, debt is debt - or sell something. Which many undoubtedly do.
But if this is the first time you've been made aware how economically fragile many peoples' lives are... here's your coffee. Finish waking up, now.
In a country with 250M adults and 151M jobs, it is not surprising that the 40% without jobs do not have $400.
I'm stunned, I tell you!
Yeah, I’ll have to tell my stay at home mother from my child hood, both of my sets of retired grandparents, and my wife’s sister who is a student about their predicament.
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"I don't understand. But I don't care, so it works out."
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I completely believe it.
Even in middle and upper class households, it's amazing how close to the bone they live.
My adult son was recently in a wreck with a driver who was insured by Farmers - and Farmers only would provide him a rental car by reimbursement - my son had to front the rental fee, which was about 500 dollars, and Farmers would reimburse him in 6 weeks.
Clever, that. It's amazing how few people can float a 500 loan for 6 weeks, so they didn't have to pay for rentals for drivers their insureds hit.
The rental car company made him aware - several times - that they'd fill out the paperwork, but he wouldn't be reimbursed for 6 weeks. The guy said, they almost never rent to people covered by Farmers, because they can't afford that wait for the money.
Note that it doesn't say 40% go down the tubes over $400. It says they don't have that much to spare and have to borrow it - which includes your magic credit cards, debt is debt - or sell something. Which many undoubtedly do.
But if this is the first time you've been made aware how economically fragile many peoples' lives are... here's your coffee. Finish waking up, now.
Wait, are you being a smug *******? Color me shocked. Maybe you should not take snippets of my post and you’d know that I’ve seen and lived true poverty.
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