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1 in 3 living paycheck to paycheck

Discussion in 'Political Discussion' started by PressCoverage, Sep 2, 2009.

  1. PressCoverage

    PressCoverage Banned

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    34 Percent of Workers Have One Week or Less of Savings


    Many people are living paycheck to paycheck, on the edge of disaster as highlighted in a new Monster Poll that reveals 34 Percent of Workers Have One Week or Less of Savings.

    Over a one week period beginning July 6 and running through July 13, more than 16,000 visitors to Monster.com participated in the Monster Meter Poll question “If you were laid off without severance, how long would your savings cover your living expenses?”



    • One Week or Less: 34%
    • 2-4 Weeks: 16%
    • 1-2 Months: 16%
    • 3-5 Months: 14%
    • 6 Months or Longer: 20%

    Creating three broad groups, 50% have less than a month of savings, while only 20% have 6 months or more. The remaining 30% are in between. Although the Monster Poll is not scientific, I cannot help thinking it is reasonably accurate.

    The implications on the savings rate are obvious: It will continue to rise.

    Those out of work may wish to consider Monster's Layoff Survival Kit that contains a few worthwhile albeit mostly obvious tips for people to follow.
     
  2. Real World

    Real World Moderator Staff Member

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    They should have had another poll question, or questions, that asked those same people:

    How many of you own an HDTV?

    How many of you have an XBOX/PS3 with 35 games?

    How many of you go out boozing every weekend?

    How many of you eat at home?

    How many of you bought your car brand new, or lease your current vehicle?
     
  3. wistahpatsfan

    wistahpatsfan Pro Bowl Player

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    #75 Jersey

    So true!
    Combine that info and the other poll and we could get a better index on what's really happening. We could call it the "Pig Index". Add in questions like "How many extra rooms do you have in your house". Also, while we're at it, we could ask "how many hours do you spend in front of the tube or internets" and "how many are 50 lbs overweight or more". Figure that into the index, too.

    I like that. The "Pig Index".
     
  4. Real World

    Real World Moderator Staff Member

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    That's the perfect title Wistah!
     
  5. alvinnf

    alvinnf In the Starting Line-Up

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    Culturally we got lost somewhere. It's getting worse and not better. As a parent of two small children I shudder to think of tommorows people.
     
  6. STFarmy

    STFarmy In the Starting Line-Up

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    This is so true. Luckily, I seem to be a natural chince, so I usually feel wrong if I'm spending lots of money on something I don't need. I don't have an HDTV or even a flat screen one, I rarely go out boozing, I cook most meals at my house, etc. I drive my wife nuts by being critical of most expenditures.

    I am an extreme, but I see many, many people that should be more careful with their money. It's really incredible. The phrase that I hear most is "I can't afford [x], but I deserve it!" People say this about things like new cars, vacations, and other huge ticket items. It's really amazing what people think they "deserve" at the expense of their own financial stability.
     
  7. Drewski

    Drewski In the Starting Line-Up

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    No Jersey Selected

    We should include number of credit cards and balances in this perfectly titled "Pig Index"

    I agree with alvin, this isnt getting better. It seems that the younger the generation, the more entitlement to lavish goods there is (generally speaking).

    I know just in my group of friends there are some numbers (credit cards/balances) that would make you puke.

    It seems personal financial responsibility has been lost, and replaced with a dire need to keep up with the Jones'.
     
  8. STFarmy

    STFarmy In the Starting Line-Up

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    I hear you Drewski, but I fixed your quote slightly to make it a more general commentary on a major problem with our society.
     
  9. Drewski

    Drewski In the Starting Line-Up

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    I was going to go there, but didnt want to take the topic off of what Press started with.

    I couldn't agree more. We as a society take little responsibility with many facets of our individual lives.

    It's really quite sad
     
  10. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    What is sadder is that there are many young people who are less responsible... someone else is responsible for their actions and behavior...
     
  11. tanked_as_usual

    tanked_as_usual Banned

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    there are also many young people who are more intelligent and have bigger aspirations than any of us ever did.......

    the same personality traits have existed for a long long time
     
  12. Drewski

    Drewski In the Starting Line-Up

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    Relative to the 18 and under crowd, yes, you are correct, and to a certain extent college aged young people too.

    If you let your 23-30 year old 'kids' lack of responsibilty impact you, whether it be financially or otherwise, then i would go out on a limb and say "yous dumb" and are simply enabling the lack of responsibility.
     
  13. tanked_as_usual

    tanked_as_usual Banned

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    the original post is missing some important information......

    each statistical sector needs to be broken down by income........it would be interesting to see the incomes of those who would be out on the street in a week........

    you need to separate out which ones are broke by choice
     
  14. wistahpatsfan

    wistahpatsfan Pro Bowl Player

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    #75 Jersey

    Many of the ones with the highest incomes would likely welcome going broke. That way they get to file for bankruptcy, save a ton of debt, and start all over again. Many of the richest people have their assets divided and masked by corporate umbrellas.

    Getting off track......

    Agree with Tanked: Traits of personal responsibility and aspiration (or lack of either) have probably been consistent through the generations, but this latest round is worse because many lazy, worthless dolts in society have been given lotsa stuff and money by banks and credit companies that weren't available to me as a Ute. Lines of credit to people without jobs or assets were unheard of in the previous generations. All the negative traits that would have been causes for penalties by society are now overlooked. Everyone gets a house, a car, a credit card (or 4) and an MP-3 player by the time they're 24.
     
  15. tanked_as_usual

    tanked_as_usual Banned

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    I do find it funny how some here come down on the youth of today like they are so much worse than the waste-oids of the late 70's

    I'd be hard-pressed to find suburban kids that cause any more touble than me and my posse in high school and yet each and every one of us is quite successful today (or at least we were until a year ago)......I'd have to say in working with the kids of my community in sports and other things, that they are collectively a bunch of dorks in comparison to the same town when I was that age....I have the luxury of comparing the same town 30 years later....it was kind of a dump then and is a nice place now
     
  16. Drewski

    Drewski In the Starting Line-Up

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    Are you referring to youth being youth and getting in trouble? if so I would agree with you. I think the youth of today are no worse than any of their previous counterparts.

    In my opinion the difference lies in what parents give their kids. Whether it is 3 video game consoles. Or a flashy suped up $28K Ford Mustang on the 16th birthday because Bobby down the street got one. Or the portable DVD player the kid takes out with them so they can disconnect at the dinner table when the family goes out. Or the top of the line IPhone when the kid really only "needs" something along the lines of the JitterBug

    Listening to my father talk about his teen through early 20s years (late 60s/early 70s), while his parents were great to him, they certainly werent going out and helping him buy his cars or the like. If he wanted a nice car, he saved up and bought it. It wasnt given to him.

    The "getting" generation, which I am part of, hasn't in general, had to learn what the value of a $ (responsibility) is, because mom and dad are quick to shower love (see gifts) on them
     
  17. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    I made a generalized statement based on a personal observation of my involvement with some younger kids, .. that is all.. somehow it has turned into a whole bunch of half assed so called facts.. lighten up folks.

    In reality you do not know jack shyt about me and my kids... a whole bunch of assumptions and very little facts or knowledge. Youth is wasted on the young.
     
  18. wistahpatsfan

    wistahpatsfan Pro Bowl Player

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    #75 Jersey


    FREAKIN' BINGO!

    Between the parents and the other adults supporting them, that's the real problem.

    My old man would have never given me a car! A CAR? Are you KIDDING ME? I got my first car from my uncle when I was 14, and all it needed was an engine rebuild, a rear end, paint job (primer black worked) and a new floor...and I had to pay him $200! That was a gift as far as I was concerned!
     
    Last edited: Sep 2, 2009
  19. Drewski

    Drewski In the Starting Line-Up

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    Relax man....dont do it.

    I wasnt making an assumption about you or your kids as i obviously know nothing about you more than a name on an internet messageboard. I used "yous" in my quote simply as a generalized term, not towards you directly.

    For Instance:
    Your original statement went something to the effect of "some youth are not responsible and their parents pay for it and that is sad".

    To which i was simply saying that if the "youth" is a dependant, then yes i agree with you.
    But if a person has a 29 year old kid who used the parents name to co-sign on a Credit Card. Then said "kid" racks up $10K debt on the card, and ruins the parents Credit Score. In this situation I would say to said parent, "yous dumb".
     
  20. PressCoverage

    PressCoverage Banned

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    wow... lots of "personal responsibility" squawkings, overstating the painfully obvious...

    but not one poster has acknowledged the fact that wages have halted for years now, while the cost of living has continued to skyrocket. why do you think that is?

    and, it will continue.

    that speaks nothing of wage fraud and violations:

     
    Last edited: Sep 2, 2009

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