2 ms·

I feel like this is not a very useful article without a comparison to data over time. I also think we could turn the numbers optimistic and say that 40% of Ame

by dangus 3y ago

I feel like this is not a very useful article without a comparison to data over time. I also think we could turn the numbers optimistic and say that 40% of Americans not living paycheck-to-paycheck is pretty impressive. Finally, I think if you ask the question "are you worried about finances?" of course most people are going to say "yes."

082349872349872 3y ago
Someone else's numbers gave 38% in 2012: https://consumerfed.org/press_release/many-families-struggle-to-make-ends-meet-but-those-with-a-financial-plan-feel-and-do-better/ https://consumerfed.org/press_release/many-families-struggle... ... which doesn't really say that much; I'll leave it to someone on your side of the Atlantic to find historical census data (eg https://www.census.gov/topics/income-poverty/wealth.html https://www.census.gov/topics/income-poverty/wealth.html ) and cross index it against historical income data (eg https://www.census.gov/library/publications/2023/demo/p60-279.html https://www.census.gov/library/publications/2023/demo/p60-27... ) to determine if —with a presumably consistent methodology— there have been any significant developments in who is living on what they have and who on what they have coming.
ImPostingOnHN 3y ago
> I also think we could turn the numbers optimistic and say that 40% of Americans not living paycheck-to-paycheck is pretty impressive. I don't think we could say that at all. Only 40% isn't only unimpressive, it's depressing. The ideal would be 100%. > I think if you ask the question "are you worried about finances?" of course most people are going to say "yes." I think that's a safe bet at the moment, considering most Americans are living paycheck to paycheck at the moment.
- deleted 3y ago
  [deleted]
- rayiner 3y ago
  Sure, utopia is preferable to reality. But how is that a helpful assertion?
  - ImPostingOnHN 3y ago
    That is not an honest phrasing of what I said. More to the point, bad doesn't become good even if you can't do better. 40% is bad. If 40% was the best we can do, it would still be bad.
    - deleted 3y ago
      [deleted]
  - fuzzfactor 3y ago
    Look on the bright side, it means at least 30 to 40% remain to be fleeced before serious changes will be made.
gruez 3y ago
> I feel like this is not a very useful article without a comparison to data over time. From the linked report: >The share of consumers living paycheck to paycheck currently sits at >60%, unchanged compared to October 2022 At 19% in October 2023, >the share of consumers living paycheck to paycheck and struggling >to pay bills has also remained stable relative to last year Among >income brackets, 76% of consumers earning less than $50,000 annu- >ally lived paycheck to paycheck as of October 2023, as did 65% of >those earning between $50,000 and $100,000 and 42% of consum- >ers earning more than $100,000 These are also similar to the shares >seen in October 2022, indicating that U S consumers have adjusted >to inflationary pressures, managing their spending where they can
- dangus 3y ago
  Yes, I read this and I think it leaves a lot to be desired. It isn’t a lot of data over a long period of time.
thiht 3y ago
> we could turn the numbers optimistic and say that 40% of Americans not living paycheck-to-paycheck is pretty impressive Yeah, don't do that. There's nothing remotely optimistic about that.
- catchnear4321 3y ago
  well, if you squint… it is to maintain optimism by softening the blow to the public. rather than talking about a scary number increasing, e.g. the amount of people living paycheck to paycheck went up, say, 3% next year, instead we can talk about how that 40% only went down a couple points but mostly stayed the same! two years from now, though… that’s probably free ice cream time.

by dangus 3y ago

082349872349872 3y ago

Someone else's numbers gave 38% in 2012: https://consumerfed.org/press_release/many-families-struggle-to-make-ends-meet-but-those-with-a-financial-plan-feel-and-do-better/ https://consumerfed.org/press_release/many-families-struggle... ... which doesn't really say that much; I'll leave it to someone on your side of the Atlantic to find historical census data (eg https://www.census.gov/topics/income-poverty/wealth.html https://www.census.gov/topics/income-poverty/wealth.html ) and cross index it against historical income data (eg https://www.census.gov/library/publications/2023/demo/p60-279.html https://www.census.gov/library/publications/2023/demo/p60-27... ) to determine if —with a presumably consistent methodology— there have been any significant developments in who is living on what they have and who on what they have coming.

ImPostingOnHN 3y ago

> I also think we could turn the numbers optimistic and say that 40% of Americans not living paycheck-to-paycheck is pretty impressive. I don't think we could say that at all. Only 40% isn't only unimpressive, it's depressing. The ideal would be 100%. > I think if you ask the question "are you worried about finances?" of course most people are going to say "yes." I think that's a safe bet at the moment, considering most Americans are living paycheck to paycheck at the moment.

deleted 3y ago
[deleted]
rayiner 3y ago
Sure, utopia is preferable to reality. But how is that a helpful assertion?
- ImPostingOnHN 3y ago
  That is not an honest phrasing of what I said. More to the point, bad doesn't become good even if you can't do better. 40% is bad. If 40% was the best we can do, it would still be bad.
  - deleted 3y ago
    [deleted]
- fuzzfactor 3y ago
  Look on the bright side, it means at least 30 to 40% remain to be fleeced before serious changes will be made.

gruez 3y ago

> I feel like this is not a very useful article without a comparison to data over time. From the linked report: >The share of consumers living paycheck to paycheck currently sits at >60%, unchanged compared to October 2022 At 19% in October 2023, >the share of consumers living paycheck to paycheck and struggling >to pay bills has also remained stable relative to last year Among >income brackets, 76% of consumers earning less than $50,000 annu- >ally lived paycheck to paycheck as of October 2023, as did 65% of >those earning between $50,000 and $100,000 and 42% of consum- >ers earning more than $100,000 These are also similar to the shares >seen in October 2022, indicating that U S consumers have adjusted >to inflationary pressures, managing their spending where they can

dangus 3y ago
Yes, I read this and I think it leaves a lot to be desired. It isn’t a lot of data over a long period of time.

thiht 3y ago

> we could turn the numbers optimistic and say that 40% of Americans not living paycheck-to-paycheck is pretty impressive Yeah, don't do that. There's nothing remotely optimistic about that.

catchnear4321 3y ago
well, if you squint… it is to maintain optimism by softening the blow to the public. rather than talking about a scary number increasing, e.g. the amount of people living paycheck to paycheck went up, say, 3% next year, instead we can talk about how that 40% only went down a couple points but mostly stayed the same! two years from now, though… that’s probably free ice cream time.