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Why Do We Still Live Paycheck To Paycheck In America?
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February 8, 2022
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1:54Now PlayingDid you know that most Americans are living paycheck to paycheck? Check out the video to learn more.
Welcome back to Bold TV with David Grasso. Be sure to like, comment, and subscribe to Bold TV for all things Bold.
The majority of people in the United States are living paycheck to paycheck. Why? Everything, including housing, gas, food, education, and healthcare, is extremely expensive. In America, one crazy healthcare bill can wipe out any savings you may have, and many millennials who earn more than $100,000 a year still live paycheck to paycheck. Yes, you read that correctly.
According to research conducted last year, the majority of young people earning six figures lived in the same way as their lower-income peers, with nothing left over at the end of the month. How is it possible? Because there is no spending ceiling in America. Of course, some of this is our fault.
You can always raise your spending no matter how much money you make; saving is a habit, and you may be extremely wealthy and still spend it all. As many prominent athletes and celebrities have done in the past. However, things are still pricey. In a world where gas costs $5 a gallon, groceries cost $200, houses cost $750,000, healthcare costs thousands of dollars a month, childcare costs and all of that topped off with $100,000 in school loans.
In many places of the United States, a six-figure wage barely buys you a middle-class living. So, who is to blame for this? We might blame ourselves or our government.
We may also point to rising healthcare, education, and housing costs, as well as earnings that haven't kept pace with rising costs. Finally, having the majority of Americans living paycheck to paycheck is bad news and causes a great deal of suffering when the economy falters. It has an impact on our politics and jeopardizes the stability of our country.
Are you living paycheck to paycheck? Let us know what you think in the comments below!
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