5 ms·

To maybe add some framing, 37% of Americans don’t have enough cash to cover a $400 unexpected expense. Obviously $400 > $65 but I think it puts some perspective

To maybe add some framing, 37% of Americans don’t have enough cash to cover a $400 unexpected expense. Obviously $400 > $65 but I think it puts some perspective on how tight cash flow is for a good chunk of the population. https://www.federalreserve.gov/consumerscommunities/sheddataviz/unexpectedexpenses.html https://www.federalreserve.gov/consumerscommunities/sheddata...

Dylan16807 5mo ago
> enough cash to cover You don't need to buy the membership with cash. Credit card, pay off $3-5 a week with your food savings, you'll barely pay any interest. Also not having $400 would have to be the number after buying food with your paycheck, right? If you get the membership as part of your first food purchase, including that nice bag of rice, you'll be okay.
- csa 5mo ago
  > You don't need to buy the membership with cash. Credit card, pay off $3-5 a week with your food savings, you'll barely pay any interest. I’m guessing you don’t know many lower income people. Not only are credit cards generally not part of the picture for these folks, but often they don’t even have bank accounts.
- mft_ 5mo ago
  You’re not mathematically wrong, but you assume that everyone has a rational disciplined approach to their finances, and a reasonably stable income behind that. And for buying in bulk (which is basically what Costco offers) to work, you need a larger amount of available cash up front, and a home with sufficient safe space for storage. And of course you need some sort of transport to bring your bulk purchases home from the Costco, often built on cheap land away from dense housing.
  - JackFr 5mo ago
    As someone who has shopped at Costco using public transportation, that’s where your IKEA bags come into play. And you avoid bulk liquids at all costs.
  - Dylan16807 5mo ago
    > you assume that everyone has a rational disciplined approach to their finances, and a reasonably stable income behind that. I'm not assuming that. If you get a paycheck at all you can impulse buy a $65 thing. > And for buying in bulk (which is basically what Costco offers) to work, you need a larger amount of available cash up front, and a home with sufficient safe space for storage. The bag of rice is cheap and compact, along with many other options. Your upfront need can be covered by your normal spend. Yes it does need a mild amount of safety. > transport For sure, but I was responding about the $65 issue.
    - mft_ 5mo ago
      > > you assume that everyone has a rational disciplined approach to their finances, and a reasonably stable income behind that. > I'm not assuming that. If you get a paycheck at all you can impulse buy a $65 thing. Not to buy the membership, but to gain meaningful benefit from it afterwards by buying in bulk in the long term, despite the greater upfront cost, motivation, planning, etc. that that requires.
      - Dylan16807 5mo ago
        It doesn't require greater motivation or planning. You just say "oh yeah I have a membership I should go there". If you want it, it's one choice to make. No extra discipline.
redeeman 5mo ago
and what iphone model do these americans have? I would be very very surprised if there were not adjustments that could be made that would significantly uplift these peoples situation
- thomascgalvin 5mo ago
  > and what iphone model do these americans have? A smartphone is not an optional component of modern life. You need a smartphone to apply for many minimum wage jobs now
  - deleted 5mo ago
    [deleted]
  - redeeman 5mo ago
    way to misrepresent what i said. you can do that from the cheapest secondhand phone. What do you think most of these people have?

Dylan16807 5mo ago

> enough cash to cover You don't need to buy the membership with cash. Credit card, pay off $3-5 a week with your food savings, you'll barely pay any interest. Also not having $400 would have to be the number after buying food with your paycheck, right? If you get the membership as part of your first food purchase, including that nice bag of rice, you'll be okay.

csa 5mo ago
> You don't need to buy the membership with cash. Credit card, pay off $3-5 a week with your food savings, you'll barely pay any interest. I’m guessing you don’t know many lower income people. Not only are credit cards generally not part of the picture for these folks, but often they don’t even have bank accounts.
mft_ 5mo ago
You’re not mathematically wrong, but you assume that everyone has a rational disciplined approach to their finances, and a reasonably stable income behind that. And for buying in bulk (which is basically what Costco offers) to work, you need a larger amount of available cash up front, and a home with sufficient safe space for storage. And of course you need some sort of transport to bring your bulk purchases home from the Costco, often built on cheap land away from dense housing.
- JackFr 5mo ago
  As someone who has shopped at Costco using public transportation, that’s where your IKEA bags come into play. And you avoid bulk liquids at all costs.
- Dylan16807 5mo ago
  > you assume that everyone has a rational disciplined approach to their finances, and a reasonably stable income behind that. I'm not assuming that. If you get a paycheck at all you can impulse buy a $65 thing. > And for buying in bulk (which is basically what Costco offers) to work, you need a larger amount of available cash up front, and a home with sufficient safe space for storage. The bag of rice is cheap and compact, along with many other options. Your upfront need can be covered by your normal spend. Yes it does need a mild amount of safety. > transport For sure, but I was responding about the $65 issue.
  - mft_ 5mo ago
    > > you assume that everyone has a rational disciplined approach to their finances, and a reasonably stable income behind that. > I'm not assuming that. If you get a paycheck at all you can impulse buy a $65 thing. Not to buy the membership, but to gain meaningful benefit from it afterwards by buying in bulk in the long term, despite the greater upfront cost, motivation, planning, etc. that that requires.
    - Dylan16807 5mo ago
      It doesn't require greater motivation or planning. You just say "oh yeah I have a membership I should go there". If you want it, it's one choice to make. No extra discipline.

redeeman 5mo ago

and what iphone model do these americans have? I would be very very surprised if there were not adjustments that could be made that would significantly uplift these peoples situation

thomascgalvin 5mo ago
> and what iphone model do these americans have? A smartphone is not an optional component of modern life. You need a smartphone to apply for many minimum wage jobs now
- deleted 5mo ago
  [deleted]
- redeeman 5mo ago
  way to misrepresent what i said. you can do that from the cheapest secondhand phone. What do you think most of these people have?