return2ozmaSurvey: Almost 50% of Americans Consider Themselves ‘Broke’
sugar_in_your_teaIf you consider yourself broke and would like help, please make a post here. I and many others would love to help, but we need some information, such as:
- household income
- monthly expenses - broken down by category, like rent, utilities, groceries, restaurants, etc
- debts - amount owed by account, type of account, interest rate, minimum payment
- assets - value of car(s), cash, etc
- skills/education - in case we want to explore more ways to make money
A lot of people get discouraged and believe that they’re screwed, but I firmly believe there’s always a way to financial stability, it just takes a lot of work and humility.
Hahahaha. Are you preaching work harder pick yourselves up by your bootstraps?
People need to make a minimum amount of money to do that. If their housing alone is more than 50% of their income, what you are thinking won’t work. The money isn’t there.
Also, changing jobs and moving are luxuries the poor struggle to enjoy.
I think k you are genuinely trying to help, but this does smell a bit of never having experienced being “in the red” poor no matter what you do. Those people have next to no options.
If you’re making $30k, you qualify for a ton of welfare programs throughout the country. So saying “$30k income isn’t livable” doesn’t make sense on its own without taking into account the various programs available. It may still be unlivable, but the income number on its own can’t really determine that.
So that’s why talking about expenses and skills is important. Many problems can be solved with proper budgeting, but some may need a job change to increase income. Increasing income on its own can’t solve budgeting problems (i.e. “you can’t outrun your fork”). Even people with middle and upper middle class incomes live paycheck to paycheck, nearly 1/3 of lottery winners go bankrupt, and nearly 80% of retired NFL players go broke. The reason behind most of those is the same thing I’m talking about: lack of personal finance education and skills.
Not all problems can be solved with budgeting and changing jobs, but a lot of them can be. That’s why I recommend anyone who would like to improve their situation to reach out, more often than not a few extra pairs of eyes can help get you on track to financial security.
You sure make knowledge of and acces to resources sound sooooooo simple.
I’m happy to help.