People don't save period. They barely save for retirement. They barely save for an emergency. Many use a tax return as enforced savings. But many really couldn't tell you what they are spending their money on. Nor do they see it as important to start saving.
One could argue that it's because they don't make enough. The truth? That saving is a priority. People make a conscious decision to not save. They also make a conscious decision to live day by day and paycheck to paycheck. I understand people who make below the poverty line struggling or around the median salary for the US. But at the same time perhaps it's time to look at your expenses and see if it's worth living where you do if you can't afford it.
I'm not a huge latte factor fan. I don't see how $5 a day works when you make $4k/month and pay $2k/month rent. It just won't work to survive without going into debt. Or $500 car payment. A lot of times just the basic outflow is to high to even pay for groceries or utilities and that's how the CC debt starts. So $5 coffee isn't going to make a difference if you start out the month in the hole. It just make the hole $5 deeper.
I'm not sure how to make people realize it might be a good idea just to save?
saving is a priority
April 13th, 2017 at 04:06 pm
April 13th, 2017 at 06:37 pm 1492108634
But I do understand what you are saying and coming from too.
April 13th, 2017 at 09:07 pm 1492117620
My big complaint, though, is the smartphone and cable bills. I know so many people who are broke or going into debt but they refuse to consider cutting cable and getting rid of the smartphone --both of which are huge monthly bills. Or, downsizing to a more economical car (parents are guilty of this). Yes, it's harder to trade in a car than to cut cable, but when shopping for a new one...
I feel like my family is treading water these days and not saving as much as we could even five years ago, but we've also hedged against harder times with paid off small cars that sip gas, no cable bill, no smartphones, etc.
April 14th, 2017 at 12:17 am 1492129078
April 14th, 2017 at 01:18 am 1492132690