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

[Anonymous]

Anonymous wrote:Teachers are basically furloughed for 2 months and need to save to get themselves through the summer months. Many school systems don’t have 12 month pay options, only 10 month. It’s a bit different as it’s not a surprise, but considering the volatility of today’s government, fed workers should always put themselves in a position to be able to weather a shutdown. Of course saving is hard—but it is a skill that’s a necessity.

What?! No. Feds make 68k on average and work year round. Not the same as teachers who are off for 2-3 months.

[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.

Starbucks is a metaphor for regular unnecessary expenditures that add up.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Teachers are basically furloughed for 2 months and need to save to get themselves through the summer months. Many school systems don’t have 12 month pay options, only 10 month. It’s a bit different as it’s not a surprise, but considering the volatility of today’s government, fed workers should always put themselves in a position to be able to weather a shutdown. Of course saving is hard—but it is a skill that’s a necessity.

What?! No. Feds make 68k on average and work year round. Not the same as teachers who are off for 2-3 months.

Whoosh.

[Anonymous]

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.

[Anonymous]

It really depends on the person and priorities. We have always made it a priority no matter our income level. If you are making over $80K, you should have a few months in savings. If you are making $120+, you should have 4-6 months minimum.

[Anonymous]

Anonymous wrote:Privledged people think you’re indulging in $1,000 iPhones and private schools and so they like to scold you. It makes them feel quite satisfied! Reality is your child care and health care and housing probably eat up your paycheck. Between repairs for cars and home maintenance and emergency health bills there just isn’t a lot left. And for those who are scolding people for having children? That’s disgusting.

Kids are a life choice so yes, its something to consider. If you have 2-3 kids and barely making it, its something you should have thought about with child care and other expenses. Home repairs, many you can DIY. There are lots of options in terms of savings. We DIY the majority of our house and saved a huge amount of money. Likewise, most people spend way more on their house, cars and other things than they can afford. Even here people suggest 4-5 times a salary when a house should be no more than 2-3 times your salary. So, yes, that may mean living in a 1000 square foot house. We live in a small house, under our means and don't get people who have the same income living in much more expensive houses and then complaining.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Teachers are basically furloughed for 2 months and need to save to get themselves through the summer months. Many school systems don’t have 12 month pay options, only 10 month. It’s a bit different as it’s not a surprise, but considering the volatility of today’s government, fed workers should always put themselves in a position to be able to weather a shutdown. Of course saving is hard—but it is a skill that’s a necessity.

What?! No. Feds make 68k on average and work year round. Not the same as teachers who are off for 2-3 months.

So, a two income fed family makes about $140K. We make that and have a comfortable lifestyle as its about the choices you make. Teachers can work summers and supplement their income during that time. But, many teachers make more than some government employees.

[Anonymous]

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.

Oh please! Read the Two-income Trap.

[Anonymous]

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.

[Anonymous]

According to United Way's ALICE report (ALICE=Asset limited, income constrained, employed), a household with 2 working adults plus and infant and toddler who need childcare in Montgomery County must earn $82,118 just to stay afloat. That seems like a lot. And that figure does NOT include a generous cell phone payment (only $75 total for both adults).

Monthly expenses for this theoretical family = Rent $1623, Childcare $1937, Food $603, Transportation $172, Healthcare $860, Technology $75, Misc $623, Taxes $956. So this family needs a combined hourly wage of $41.09 to just get to that level (BTW the federal poverty level is set at more like $24k in this scenario).

Check it out here
https://www.uwcm.org/main/wp-content/uploads/2016/12/18UW_ALICE_Report_CountyPages_MD_8.13.18.pdf

[Anonymous]

Anonymous wrote:

Anonymous wrote:Privledged people think you’re indulging in $1,000 iPhones and private schools and so they like to scold you. It makes them feel quite satisfied! Reality is your child care and health care and housing probably eat up your paycheck. Between repairs for cars and home maintenance and emergency health bills there just isn’t a lot left. And for those who are scolding people for having children? That’s disgusting.

Kids are a life choice so yes, its something to consider. If you have 2-3 kids and barely making it, its something you should have thought about with child care and other expenses. Home repairs, many you can DIY. There are lots of options in terms of savings. We DIY the majority of our house and saved a huge amount of money. Likewise, most people spend way more on their house, cars and other things than they can afford. Even here people suggest 4-5 times a salary when a house should be no more than 2-3 times your salary. So, yes, that may mean living in a 1000 square foot house. We live in a small house, under our means and don't get people who have the same income living in much more expensive houses and then complaining.

Do you not understand there are people working 2 and 3 jobs to make ends meet. They don't want to come home and McGuyver the plumbing if they don't know what they're doing.

I've seen other threads on how to make it when you're poor and read this advice.
-Get a crockpot, eat lots of rice and beans
-Never eat fast food or at restaurants
-Put thermostat at 65
-Use cloth diapers
-Don't drive anywhere unnecessary to save gas
-Clip coupons
-Sell car and take public transportation


I notice that most people's "advice" on how to save money usually boils down to "Poor people don't deserve conveniences or nice things at all". It's really hard to imagine that someone is going to never eat out, take the bus to and from working 2 jobs, and come home to clip coupons, wash diapers and eat beans and rice in their cold house. And on top of that, any spare time they DO have will be devoted to DIYing whatever has broken at their house. That sounds miserable.

Do you not realize that most people who are money poor are also time poor? Most "poor" people are working poor. They work long hours and probably do deserve to get ice cream or whatever at the store without worrying about going a $ over the food budget.

[Anonymous]

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.

[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 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.

[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.

That’s...why...you...move into a place with more than one bedroom...geesh.

[Anonymous]

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.