FACT: Everyone Now Living Paycheck To Paycheck Means Next Crisis Will Be Devastating!
More so than ever before, people are living paycheck to paycheck. No savings. Nothing for a rainy day. With interest rates at current near historic lows, some have simply invested instead of saving. There can be no solution to this crisis except for mass bankruptcies to occur. Look around the West. U.S, Canada, UK, Australia, and the rest. Everyone extends themselves to the absolute maximum. And that’s totally fine...as long as nothing with their income or expenses changes. Nothing to worry about, right?
Government shutdown exposes a harsh truth: Most Americans are unprepared for the next recession - MarketWatch
https://www.marketwatch.com/story/government-shutdown-exposes-a-harsh-truth-most-americans-are-unprepared-for-the-next-recession-2019-01-22
Living Paycheck To Paycheck: What The Polls Show
https://www.forbes.com/sites/bowmanmarsico/2019/01/24/living-paycheck-to-paycheck-what-the-polls-show/#18f64a07132b
51% of young women have to borrow to make cash last until payday | Business | The Guardian
https://www.theguardian.com/business/2017/sep/19/51-of-young-women-have-to-borrow-to-make-cash-last-until-payday
How an Overdraft Line of Credit Works
https://www.thebalance.com/overdraft-line-of-credit-315353
Walmart Nation: Mapping America’s Biggest Employers
https://www.visualcapitalist.com/wp-content/uploads/2019/01/walmart-nation-biggest-employers-map.html
Payless prepares second bankruptcy with store closures - BNN Bloomberg
https://www.bnnbloomberg.ca/payless-prepares-second-bankruptcy-with-store-closures-1.1211459
Reorg First Day on Twitter: "Since 2016, 35 retail chains have filed for chapter 11 relief reporting more than $100M in liabilities on their bankruptcy petitions:… https://t.co/uMsJqnptvV"
https://twitter.com/ReorgFirstDay/status/1064931445276401664/photo/1
‘This One Here Is Gonna Kick My Butt’—Farm Belt Bankruptcies Are Soaring - WSJ
https://www.wsj.com/articles/this-one-here-is-gonna-kick-my-buttfarm-belt-bankruptcies-are-soaring-11549468759?mod=hp_lead_pos5
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I agree 100% that many Americans today have little to no financial education. The result can clearly be seen in many of the statistics that many Americans live paycheck to paycheck and do not understand the importance of having emergency cash or investing for retirement. These facts will cripple many households if anything significant happens to their financial situation that is negative! Also many Americans will end up working until they pass away or way longer than planned due to poor retirement planning. Living paycheck to paycheck doesn’t just apply to low income families. Many middld to upper class earners spend way beyond their means and end up in the same terrible position despite their higher earning potential. It all comes down to learning about personal finance and not living beyond your means so that money can be saved for the future.
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Gotta stop wanting the latest and greatest gadgets . Most of the junk made ten years ago still works today . Pants are still pants 👖 , and plugs 🔌 are still plugs . You really just have to hop off this merry go round of buying useless shit you don’t really need made in a communist country that steals your jobs every day . THINK .