2 ms·
15% of those are in poverty. This doesn't let you save up money. One in two americans are low income. [1]. I'd not call these number exact, but close enough. Mu
by Broken_Hippo 9y ago
15% of those are in poverty. This doesn't let you save up money. One in two americans are low income. [1]. I'd not call these number exact, but close enough. Much of the group you describe only suck at saving because their income sucks. $50-$100 extra a month doesn't make it easy to save up $500 for an emergency. Literally months. Months with nothing happening. Not a flat tire, not a doctor's appointment. Nothing breaking.
This doesn't explain everyone in your category, though, so a portion suck at saving.
[1] https://www.forbes.com/sites/timworstall/2011/12/16/well-of-course-1-in-2-americans-are-poor-or-low-income-naturally-its-obvious/#40c73b4b3895 https://www.forbes.com/sites/timworstall/2011/12/16/well-of-...
- murph-almighty 9y ago15 percentage points, or 15 percent of the 57%?
- Broken_Hippo 9y agoThe first. The percentage would be higher if taken from the 57%.
- kiliantics 9y agoThere's a great reddit comment that explains this in a relatable way. It's very expensive to be poor: https://www.reddit.com/r/TrueReddit/comments/1v4t18/it_is_expensive_to_be_poor_barbara_ehrenreich/ceox7ay/ https://www.reddit.com/r/TrueReddit/comments/1v4t18/it_is_ex...
- closeparen 9y agoAs the linked article points out, we have defined terms like “poverty” and “low income” relatively, so telling us the percentage of people they cover doesn’t convey any information. The 57% figure is much more illustrative, in large part because it conveys an absolute capability which people can lose or acquire.