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

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]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).[/quote]

One word: Starbucks.[/quote]

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

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

Just FYI, a fancy grande latte is less than $6, even at the priciest locations downtown. So, even if you go to Starbucks daily, it's about $180 a month. Not suggesting that that's a reasonable expense for someone struggling but the math was wrong.

[/quote]

Yep. I get a grande skinny cinnamon dolce latte every morning. It's $5, so $140/month. If I were truly living paycheck to paycheck I probably wouldn't do it, but that isn't the reason people aren't able to save in a macro sense. [/quote]

This is the perfect illustration of the lack of understanding here.  Will foregoing Starbucks allow someone to survive a layoff, or other really expensive life event?  No.  But, you're talking about more that $1600/year in fancy coffee.  If you ask people who are in desperate financial straits whether $1600 in savings would make a difference in their lives, I'll bet you they would say yes.

Moreover, Starbucks, while a real thing, is also a metaphor for various other frivolities in life.

Finally, many people are conflating the real working poor, who don't get Starbucks every day, with the poor by choice.  People who are stretched, and living paycheck to paycheck, because, even though they make a decent living, they spend every cent they make.  Who *could* have savings, but *deserve* that starbucks every day, because life is hard.  Who deserve to live alone, because they're 30 yo, and who wants roommates?  Who don't have a boyfriend/girlfriend, and so need to go out a lot and spend money.

Please don't confuse by lack of sympathy for *those* people for lack of sympathy for the true poor/working poor.  It's appalling that the minimum wage is so low, and health care is so expensive.  But I know too many 20- and 30-somethings making decent money who spend it on nonsense to spend a lot of time worrying about them.  [/quote]

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