Why is it hard for some privileged people to realize that saving is hard?

[Anonymous]

Anonymous wrote:To the PP who thinks people are spending $13,000 a year at Starbucks: I literally have never known anyone who did this. No one. Ridiculous.

I will admit I tend to buy coffee about once a month, so I'm wasting $60 a year. I also spend around $130 a year on my Netflix subscription, which replaces cable, going to the movies, and really going out for entertainment at all.

How far does $190 a year get you in place of an actual paycheck again? I mean, just think about the orders of magnitude involved, and if they're so far apart, maybe don't criticize.

Np: try re-reading — the $13k was over 10 years, not one...

[Anonymous]

Anonymous wrote:

Anonymous wrote:For me, I make $18/hr. thats about $2880/month (after taxes, it's more like $2500) if I work 40 hrs a week. I don't always get 40 hrs, so this is a rough estimate.

Rent: 1200
Food: 400
Utilities: $300
Phone: $100
Internet: $50
Car Insurance: $150
Health insurance: $200
Gas: $100

That comes out to about $2500.
No, I'm not going out to eat, getting fancy coffee, or getting my nails done. I'm paying bills. I don't feel poor... I feel comfortable but if there is any type of emergency, I'll be SOL.

You pay $1200 a month on rent when you make $18/hour? Dear Lord, there’s the issue.

How much do you think it costs to rent an apartment? $1200 isn't crazy and below average or the area.

[Anonymous]

I don't think people realize when you are poor and your family and friends are poor you don't have a safety net. If you have middle class friends and family and you need a loan your friends will loan you some money interest free to get through a medical emergency, a car issue, etc. When you are poor and haven't established credit you go to a predatory payday lender. When your family and friends are poor you are pressured to help them out if you have any extra money. There are so many sob stories of people needing car repair money, money for health issues, hours cut at a job so money is needed for rent, heat, electricity. Are you going to let your nieces, nephews, parents, cousins go out on the street, or go hungry, or not have heat or electricity?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The modern redefining of luxuries as necessities makes it hard to see that saving is doable for many people who claim that they can’t save a dime (while typing away on their smartphones).

+1

One word: Starbucks.

Starbucks is not the reason people don't have much leftover after paying rent, school loans, car loans, and medical bills.

It can be if it's a daily fix. That's $200-$250 a month.

[Anonymous]

Anonymous wrote:I grew up really, really poor in Appalachia. My family was well below poverty line most years. Poverty can be crushing but I agree many people way overspend and blame it on what they “deserve.” I got out by clawing my way out eating the rice and beans in a cold shared apartment and all that.

If you trade financial security for everyday indulgences, you will never get ahead without some serious luck. Otherwise you will continue to flounder. It IS a choice usually. Exception is crushing medical bills. We need basic nationalized health care. No, you won’t get the best, but we need adequate free care.

Well said. You won’t get anywhere without sacrifices, + nationalized health care is a much needed basic safety net.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Especially if you make barely enough to cover the bare minimum. I am honestly disgusted by people online and in real life saying that govt employees (and everyone) should have 3-6 mons of expenses saved. That's mighty hard seeing as a lot of people live check to check. If I can barely make it to payday, where is the "savings" money coming from? We don't all have surplus funds at the end of the month to put away. And 6 months of expenses? That's a lot of money when most people don't even have $1000 for an emergency.

Hon, I made 60k one year and saved 20k of it. I had my expenses down to 2k/mo. Ans yes, this is in the DC area. I was than a. SAHM, DH made 110k/yr (less than thr average federal worker) supporting 3 people and managed to save 25k/yr, not including 401k, so even more.

Unlike many, we know the difference between a want and a need.

It’s awesome that you were able to do that! So what about people who haven’t - should they starve?

Make stupid choices, win stupid prizes.

[Anonymous]

Anonymous wrote:Stay close to home for college. Live at home if possible.

Live with parents for a few years after graduation to save.

If everyone did that, they would be much richer.

Are you aware that the bolded is not an option for some people, or are you not aware of that? Serious question.

[Anonymous]

I made $25K my first job. I saved $100 out of every paycheck. I lived frugally. I now make $150K, and I save $30K a year. I still live somewhat frugally. No, it's not easy. You do have to give up something. I have never had any credit card debt.

[Anonymous]

The privilege from some of these posters is astonishing. Some of you literally have NO IDEA that people are not struggling because they are getting their nails or hair done or buying Starbucks every day, but because basic costs like housing and healthcare have gone up greatly and incomes haven't followed.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This whole thread is nuts. It is hard to DIY when you don’t own a house. You can’t own a house if you can’t save the money. My sister pulls together odd jobs and has no future earning potential. She pays next to nothing in rent but I know I’m her emergency plan.

Starting out, I had to drop out of college because my finances got screwed up in loans (long story) and I couldn’t get out of the debt hole for almost 10 years (and that includes living with roommates and only having a phone when needed). When my $1700 car needed a new clutch, that was a crisis I couldn’t afford. When it died, I could have lost my job if I didn’t have a miracle happen. I had a paycheck screwup (it went to the wrong office) and I didn’t have metro fare to go get it. So I walked everywhere (luckily I could walk 2 miles to work in the summer) and skipped food (not eating out, actual food, unless one of my friends shared) for 2 weeks while I waited for the check to come to the right office so I could cash it.

Friends of mine from growing up are working one underpaid job with a second job, relying on parents for child care. One is an emt, but isn’t in a position to ever buy a house. Emergencies do put them underwater.

Another family member was in a debt tailspin for medical bills. Hell, an er copay for me was unaffordable, so I didn’t pay and it stayed on my credit report (along with a hell of a lot of other bad things) for years.

In this thread, I really wonder how many people posting have ever been in any position where they ever experienced any of that.

And, when my husband was 18, no opportunity for college, he joined the military. You have options.... you just may not like them. Because of his military service, we get low cost health care for life..takes away that issue.

And here you have it, ladies and gentlemen, if you don’t want to end up homeless in America, you simply have to sign up to get your ass shot off in a war that makes billionaire traitors even richer.

And, what's a better option? Please, do share. Let me guess, college was the only option and you got help going. Not everyone got help going, even something as simple as someone taking the time to explain financial aid. Having health care for life is a huge deal if you have health issues.

You don't have healthcare for life sweetie. Your H does. If he leaves you, you have no healthcare.

Yes I do. I have been married long enough get to keep it if we divorce. If he dies I get pat of his pension. Know what you are talking about hon.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This whole thread is nuts. It is hard to DIY when you don’t own a house. You can’t own a house if you can’t save the money. My sister pulls together odd jobs and has no future earning potential. She pays next to nothing in rent but I know I’m her emergency plan.

Starting out, I had to drop out of college because my finances got screwed up in loans (long story) and I couldn’t get out of the debt hole for almost 10 years (and that includes living with roommates and only having a phone when needed). When my $1700 car needed a new clutch, that was a crisis I couldn’t afford. When it died, I could have lost my job if I didn’t have a miracle happen. I had a paycheck screwup (it went to the wrong office) and I didn’t have metro fare to go get it. So I walked everywhere (luckily I could walk 2 miles to work in the summer) and skipped food (not eating out, actual food, unless one of my friends shared) for 2 weeks while I waited for the check to come to the right office so I could cash it.

Friends of mine from growing up are working one underpaid job with a second job, relying on parents for child care. One is an emt, but isn’t in a position to ever buy a house. Emergencies do put them underwater.

Another family member was in a debt tailspin for medical bills. Hell, an er copay for me was unaffordable, so I didn’t pay and it stayed on my credit report (along with a hell of a lot of other bad things) for years.

In this thread, I really wonder how many people posting have ever been in any position where they ever experienced any of that.

And, when my husband was 18, no opportunity for college, he joined the military. You have options.... you just may not like them. Because of his military service, we get low cost health care for life..takes away that issue.

Ok, so play this out. Did he enlist? Directly? Great. Why do you think the enlisted ranks have more
People of limited means than the general population. Because they feel compelled to do so for financial reasons. Then they are put into harms
Way for the priorities of others. I’m sincerely glad your husband wasn’t killed or injured for life. Because the healthcare and college benefits wouldn’t go very far then. And that is the risk people take, and from what you say, should be compelled to take for the privilege of financial sustainability. .

He, like many had no other option. You have never been in that situation.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:For me, I make $18/hr. thats about $2880/month (after taxes, it's more like $2500) if I work 40 hrs a week. I don't always get 40 hrs, so this is a rough estimate.

Rent: 1200
Food: 400
Utilities: $300
Phone: $100
Internet: $50
Car Insurance: $150
Health insurance: $200
Gas: $100

That comes out to about $2500.
No, I'm not going out to eat, getting fancy coffee, or getting my nails done. I'm paying bills. I don't feel poor... I feel comfortable but if there is any type of emergency, I'll be SOL.

You can’t afford to live alone. Your rent is too high. Also if you had a roommate you could share utilities and cable. I had a rooomate until I was married. And what car are you driving? In va dh and I pay $400 every 6 months combined. We have two 2008 camrys.

I have a Civic. And a roomate won't work in a 1 bedroom. I am trying to move to a studio in this building. Studios here are only $950 so I would be freeing up some extra cash.

Stupidity like this is why people have no sympathy for you

we are suggesting you move out of your apartment into a group house!

I lived in a group house for around 10 years after graduating college so I could save up to buy a house after I got married

[Anonymous]

The question was why do people of privilege find it so hard to understand how hard it is to save, and this thread demonstrated this perfectly.

Being working poor is really hard. It is time consuming in a way that many people don't seem to understand. Taking a low-wage hourly job or two puts you at the mercy of someone else making a schedule, with a week's notice. Or maybe you will only get 3 shifts when you were counting on 5 that week. Then you have to find child care for a random schedule, which is why people frequently ask family to help, or you have to pay a sitter, who may make a bit less than you do. Because you are hourly, you don't have health insurance, or a way to budget because random hours.

This leads to the need for social services, whether that be reduced lunches, medical care, or an unemployment check because the factory closed and half the town is out of work too.

It takes time to figure out how to get medical care, and time to figure out how to fill out forms to get social services. It is complicated and confusing. Being poor has long-term impacts, like not knowing how to apply for college or the aid that they can likely receive because of a low family income, or skipping the health insurance options because that does cost extra, and maybe it's worth taking the risk of not having it.

This was my childhood, followed by me putting myself through college (I arranged my classes at a big ten school around my work schedule for one of my jobs and not the other way around. I ate an apple around 3p, and then ate whatever pizza was messed up at the restaurant that night) Saving just wasn't an option. There was nothing to save.

My husband is furloughed, and I run a consulting firm. We do have savings, and are fine. But I won't be the one scolding Americans who are $600 away from catastrophe at any moment.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:For me, I make $18/hr. thats about $2880/month (after taxes, it's more like $2500) if I work 40 hrs a week. I don't always get 40 hrs, so this is a rough estimate.

Rent: 1200
Food: 400
Utilities: $300
Phone: $100
Internet: $50
Car Insurance: $150
Health insurance: $200
Gas: $100

That comes out to about $2500.
No, I'm not going out to eat, getting fancy coffee, or getting my nails done. I'm paying bills. I don't feel poor... I feel comfortable but if there is any type of emergency, I'll be SOL.

I don’t get this. Why are you living in such a high COL area when you make such a low salary? You can get an $18/hour job literally anywhere in the country and you could cut your rent in half. That’s your problem here...it doesn’t make any sense.

This, most of us lived with 3-5 roommates and paid $500-650 or so rent including utilities. Your rent and utilities are very high as is your car insurance. Likewise, our unlimited cell phone is $50 a minute - you can half that. Again, its about choices, you can reduce your fixed expenses and have savings and more luxuries like eating out.

When was that? In the 80's? Group homes are not really a thing anymore. Lanlords don"t like that type of living situation.

My friends still live group houses and I did as recently as a few years ago

[Anonymous]

The biggest reason I see people my age struggle (20s/30s) is that they feel entitled to 1br apartments in fancy neighborhoods

I remember when I was making less than $45k... I lived in a group house for around $500 while my dumbass co-worker spent $1600 on a 1br overlooking meridian hill park

Also I just met someone recently who is struggling financially but lives in a 2br apartment in nw DC all alone!! Wtf!?