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In reply to the discussion: Bernie Sanders: Do you know why millions of our people are stressed out? [View all]hfojvt
(37,573 posts)I personally find that hard to believe, even though it is not popular to say so.
My wage income over the last decade is about $170,000 or about $17,000 a year.
That's a pretty low income, isn't it?
Yet
a) I have been able to save
b) even if I had not, my lifestyle is a fair ways higher than "bare survival"
let me count some of the extras in my life
1. a collection of DVDs, videos, and CDs
2. at least $2,000 worth of books
3. high speed internet
4. two desktop computers
5. 5 laptops
6. genealogy service (has cost about $2,000 over the last decade)
7. three dogs
8. member of Kiwanis (has cost me about $5,000 over the last decade (mostly for meals))
9. I probably spend $500 a year just on pringles and pop
10. probably $10,000+ given to various charities over the last decade
none of that is required for survival, although I have decided that I want them, and can afford them and still save. I doubt if I am the biggest spender when it comes to non-necessities either. Here, for example, are things I see other people spending money on, where I do not.
1. cell phones
2. cable TV
3. eating at restaurants
4. automobiles - I spent much of the last decade walking and riding my bike (and yes, I know, that is NOT an option for everyone, but it could be an option for more than exercise it, I would guess)
5. rent - this is a circular problem, because people don't save, they cannot put a downpayment on a house, which means they are spending much more for lodging. The small house and small yard next to me rents for $500 a month. I pay about $100 a month (because my house is fully paid for). Plus there seem to be many urban areaas where housing/rent costs are ridiculous.
6. multiple kids. Two of my co-workers, for example, each have five kids. I like the idea of having kids but I would have gotten a vasectomy after three.
7. credit card interest - some people actually pay this. Me, I get cash back, perhaps $40 a year.
In other ways, savings pays. Putting $3,000 into an IRA, for example, will save me about $700 in taxes, or more. So I always take advantage of that, even at my income.
So much of the country is making more money than me, I find it impossible to believe that they CAN'T save or that they are only "surviving".