5 ms·

Unless I'm mistaken...'most' people are still living pretty much paycheck to paycheck, and budgeting based on what they can afford at the moment. TBH though, I

Unless I'm mistaken...'most' people are still living pretty much paycheck to paycheck, and budgeting based on what they can afford at the moment. TBH though, I haven't looked lately. Anecdotally, no-one I know complains about beef being $3 last year...they are more concerned with it being $4/lb last MONTH and $6/lb now. Gas seems to be especially prone to this, people seem to budget gas on a more 'weekly' basis.

JumpCrisscross 4y ago
> no-one I know complains about beef being $3 last year...they are more concerned with it being $4/lb last MONTH and $6/lb now The point is this isn’t happening. CPI is up less than half a percent since June [1]. Core is more consistently rising [2]. But beef costs about what it did in March [3][4]. (We have to go back a decade to find ground beef at $3/lb.) [1] https://fred.stlouisfed.org/series/CPIAUCSL https://fred.stlouisfed.org/series/CPIAUCSL [2] https://fred.stlouisfed.org/series/CPILFESL https://fred.stlouisfed.org/series/CPILFESL [3] https://fred.stlouisfed.org/series/PBEEFUSDM https://fred.stlouisfed.org/series/PBEEFUSDM [4] https://fred.stlouisfed.org/series/APU0000703112 https://fred.stlouisfed.org/series/APU0000703112
- mech422 4y ago
  I wasn't contesting that, just pointing out I don't think 'most' people budget annually. For that matter, most I know don't seem to remember last years prices good or bad. They are more worried about the present.
phpisthebest 4y ago
>and budgeting based on what they can afford at the moment That is not budgeting, that is choosing what products to buy based on your budget. One would set a budget of say $400 a month for groceries based on their income, this is would be fixed for the year. then when they go to the store, or make a shopping list that choose Chicken or Beef, Frozen or Fresh etc based on the current prices and what will fit into that budget. > Anecdotally, no-one I know complains about beef being $3 last year...they are more concerned with it being $4/lb last MONTH and $6/lb now Both are a concern, but only one deals with budgets. The $3 is important because that was the baseline for which the budget was set, choices on employment, hours, overtime, finding a new job, going back to school etc are based on this budgeting the Mo over Mo prices factor not into the budgeting, but into if you buy 1lb and some beans for your chili, or 2 pounds of beef and no beans so you can make "real chili":) .. Of if you buy a steak vs ground beef, or chick... Those are purchasing choices at the moments for the exact goods and services that will be consumed under your budget
- mech422 4y ago
  >>One would set a budget of say $400 a month for groceries based on their income, this is would be fixed for the year. That's sorta hard to do when your paid hourly and your schedule is pasted weekly. That was my whole point - the OP sorta assumes a LOT more stability then many people have. I guess the best way to say it for everyone would be: I don't think 'most' people have the luxury to be able to 'budget', and I'd say a fair number run from crisis to crisis just trying to survive.

JumpCrisscross 4y ago

> no-one I know complains about beef being $3 last year...they are more concerned with it being $4/lb last MONTH and $6/lb now The point is this isn’t happening. CPI is up less than half a percent since June [1]. Core is more consistently rising [2]. But beef costs about what it did in March [3][4]. (We have to go back a decade to find ground beef at $3/lb.) [1] https://fred.stlouisfed.org/series/CPIAUCSL https://fred.stlouisfed.org/series/CPIAUCSL [2] https://fred.stlouisfed.org/series/CPILFESL https://fred.stlouisfed.org/series/CPILFESL [3] https://fred.stlouisfed.org/series/PBEEFUSDM https://fred.stlouisfed.org/series/PBEEFUSDM [4] https://fred.stlouisfed.org/series/APU0000703112 https://fred.stlouisfed.org/series/APU0000703112

mech422 4y ago
I wasn't contesting that, just pointing out I don't think 'most' people budget annually. For that matter, most I know don't seem to remember last years prices good or bad. They are more worried about the present.

phpisthebest 4y ago

>and budgeting based on what they can afford at the moment That is not budgeting, that is choosing what products to buy based on your budget. One would set a budget of say $400 a month for groceries based on their income, this is would be fixed for the year. then when they go to the store, or make a shopping list that choose Chicken or Beef, Frozen or Fresh etc based on the current prices and what will fit into that budget. > Anecdotally, no-one I know complains about beef being $3 last year...they are more concerned with it being $4/lb last MONTH and $6/lb now Both are a concern, but only one deals with budgets. The $3 is important because that was the baseline for which the budget was set, choices on employment, hours, overtime, finding a new job, going back to school etc are based on this budgeting the Mo over Mo prices factor not into the budgeting, but into if you buy 1lb and some beans for your chili, or 2 pounds of beef and no beans so you can make "real chili":) .. Of if you buy a steak vs ground beef, or chick... Those are purchasing choices at the moments for the exact goods and services that will be consumed under your budget

mech422 4y ago
>>One would set a budget of say $400 a month for groceries based on their income, this is would be fixed for the year. That's sorta hard to do when your paid hourly and your schedule is pasted weekly. That was my whole point - the OP sorta assumes a LOT more stability then many people have. I guess the best way to say it for everyone would be: I don't think 'most' people have the luxury to be able to 'budget', and I'd say a fair number run from crisis to crisis just trying to survive.