Going paycheck to paycheck....... (1 Viewer)

DallasDMac said:

I am a full time WFH employee. My company doesn't pay for my internet at all. I wouldn't trade that for having to go in to work no matter what my internet costs. There's also the trade off of not putting miles on my car, paying for gas, etc. But no, I'm not compensated at all for my home internet.

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MAC_32 said:

This whole phone/internet thing is a weird thing to go on-and-on about.  The point is it's now a need and it costs money.  Some may be compensated for it.  Many aren't.  And it wasn't a need for prior generations.

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culdeus said:

This is one of the chief issues when you offer savings accounts and CDs at basically 0% for a decade.

At the same time debt has been for all intents free.  

Personal savings rate charting like that is self-serving.  It does not factor appreciation in home prices which comprises the overwhelming majority of personal savings.  I would argue quite easily that a principal payment to a home is a savings.  However, this is never comprehended when people put these types of things out.

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Psychopav said:

Can't you deduct the expense or part of the expense on your taxes?  You can deduct the costs for the portion of your home dedicated to home/office (as long as it is dedicated)

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-OZ- said:

Interesting article from July, seems pertinent

https://www.americanbanker.com/news/consumer-debt-is-at-an-all-time-high-should-banks-be-worried

Between 1960 and 1984, the U.S. personal savings rate — which is savings as a percentage of disposable personal income — never fell below 8%. That level of national thrift is far out of reach today. In December 2017, the personal savings rate dropped to 2.4%, its lowest level since the debt-fueled boom of the mid-2000s.

There are a few charts in article worth looking at. The first being the savings rate, the other being the portion of debt on average.

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KCitons said:

I don't dislike you because of your opinion. And I'm not trying to change you. Honestly, I wish I was more like you. We are all shaped through a lifetime of experiences. And our behaviors are conditioned. It takes reverse conditioning to correct.

I remember years ago I was in Vegas. There was, what I thought was, a homeless person asking for money on the Fremont Street. I gave him five dollars and wished him well. An hour or so later, I saw him walking down a side street talking on a cell phone. (this was back when cell phones weren't as common). He got into a car that was nicer than what I was driving. I thought to myself "I'm such a sucker".  I don't give money to people that are asking for handouts anymore. That's a conditioned response. 

Fast forward to 3 months ago. I was walking on the strip and the guy walking next to me was a gentleman in his mid 60's wearing a pair of khakis and a dress shirt. He was also wearing Vietnam veterans hat. I thanked him for his service and we walked for about 10 minute talking about his time in the military. He said he had been trying to get a job in the casinos working security. He had been out of work for awhile, but most places don't want to hire someone as old as him. He wasn't bitter, he didn't blame them. He just kept trying. He said things were getting pretty tough and he hadn't eaten breakfast. I didn't hesitate, I gave him $20, told him to have breakfast on me, and wished him luck on his job search. 

Same situation two different results. One I felt taken advantage of, one I felt like I helped someone in need. The difference is I took the time to learn about someones situation. I probably need to do more of that before making judgments.

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