80
Survey: Almost 50% of Americans Consider Themselves ‘Broke’
(www.marketwatch.com)
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 13 Aug 2024
80 points (97.6% liked)
Personal Finance
3857 readers
1 users here now
Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. Join our community, read the PF Wiki, and get on top of your finances!
Note: This community is not region centric, so if you are posting anything specific to a certain region, kindly specify that in the title (something like [USA], [EU], [AUS] etc.)
founded 2 years ago
MODERATORS
Our entire system is designed to make people spend every dollar they make on stupid toys and other things they don't need. People make hundreds of thousands a year and spend it all in monthly payments. I know lots of "well off" people who can't survive more than a few months before being in serious financial trouble.
As long as the payments can be made it's encouraged to just buy more and more and more.
I think most of these huge payments are not due to stupid toys, it's due to college debt, mortgages, and medical debt. I wish it was spent on toys instead.
For some that's true, but go count the number of trailers, ATVs, watercraft and other toys that way too many people have. Same goes for cars and houses. Buy the most expensive stuff you can so you can stay ahead of your friends!
The sad thing is that a nice toy is like 5% of the cost of 4 years of college tuition these days.
Maybe get out of suburbia. There's far more people lower than middle class just struggling to survive, and toys are a luxury.
You completely missed the point of my comments.