Why do you think 76 percent of all Americans are living paycheck to paycheck? I

Jump to Last Post 1-3 of 3 discussions (9 posts)
  1. Omeva profile image75
    Omevaposted 3 years ago

    Why do you think 76 percent of all Americans  are living paycheck to paycheck? Its a scary statistic

  2. peeples profile image93
    peeplesposted 3 years ago

    I think one reason may be health insurance. Since obama required people to sign up many people are dumping large percentages of their salary towards insurance when previously that was the comfort net or savings money. Personally we put out almost the same amount for health insurance as we do for our house payment. Sure takes away the comfort extras that we had before.

    1. dashingscorpio profile image87
      dashingscorpioposted 3 years agoin reply to this

      Actually for decades financial advisors have said the average person does not save any significant money for retirement. The leading cause of bankruptcy among the middle age is healthcare issues. When we're young we spend $ and live for today!

    2. peeples profile image93
      peeplesposted 3 years agoin reply to this

      Guess we are the opposite then. Hard to spend $ and live for today when you dump $800 a month on healthcare. That money use to go into our savings and 401k. Now tiny % to 401k is it.

    3. dashingscorpio profile image87
      dashingscorpioposted 3 years agoin reply to this

      Are you using the exchanges because your employer no longer offers health insurance or were you guys opting not to have heath insurance and hoping not to have any emergencies. From what I've seen most people have it through their work for less.

    4. peeples profile image93
      peeplesposted 3 years agoin reply to this

      Before we just had a savings plan just for medical related things. We made sure there was enough to cover doc appts, plus the down payment for serious stuff, then payment plan if need be. Now we have insur. through job, but they don't help w/ costs.

    5. Omeva profile image75
      Omevaposted 3 years agoin reply to this

      Duly noted,

      Time to start saving for retirement NOW!

  3. dashingscorpio profile image87
    dashingscorpioposted 3 years ago

    It's simple, because 76% of people live right at or above their means!
    Once credit terms were introduced it allowed us all to buy now and pay later. Some folks are content making the minimum payments on things while they continue to accumulate other things.
    You see people with low incomes who continue to have children, purchase pets, new cars as opposed to used cars, designer label fashions and accessories, hit the nightclubs, first run movie theatres, amusement parks, and go on vacations twice a year.
    From the poor person's point of view income is not what dictates their living standards! It's the amount of credit they can access!
    If a person can comfortably afford a $100k home but the bank is willing to lend them money to by a $300k home they're more likely to go towards the bigger purchase! The same is true with cars.
    No matter how poor one is it's human nature to want to splurge now and then to treat yourself to some of the "finer" things in life.
    All it takes is to be laid off from one's job to really be behind the eight ball. Suddenly they're taking out "payday loans" at loan shark rates.
    One of the reasons why Social Security and Medicare will never be reformed is because they provide a type of safety net that guarantees some "minimum retirement" income and health care services.
    The irony is our economy would crash if people started (seriously saving) their money instead of "consuming" at the rate they do.
    Whenever a large segment of the population stops spending money we go into a deep recession!

    1. Omeva profile image75
      Omevaposted 3 years agoin reply to this

      Dashing, I couldnt have said it better myself, Honestly.

      I don't think welll have any kind of recession related as most people in the U.S. don't have a problem spending money. We just need to make sure we are amongst the ones who save, right?

 
working

This website uses cookies

As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: https://hubpages.com/privacy-policy#gdpr

Show Details
Necessary
HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
LoginThis is necessary to sign in to the HubPages Service.
Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
AkismetThis is used to detect comment spam. (Privacy Policy)
HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy)
Features
Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
MavenThis supports the Maven widget and search functionality. (Privacy Policy)
Marketing
Google AdSenseThis is an ad network. (Privacy Policy)
Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
Index ExchangeThis is an ad network. (Privacy Policy)
SovrnThis is an ad network. (Privacy Policy)
Facebook AdsThis is an ad network. (Privacy Policy)
Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
AppNexusThis is an ad network. (Privacy Policy)
OpenxThis is an ad network. (Privacy Policy)
Rubicon ProjectThis is an ad network. (Privacy Policy)
TripleLiftThis is an ad network. (Privacy Policy)
Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
Statistics
Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)