64% of the population is living paycheck-to-paycheck

UK....


A July survey of more than 8,000 UK adults carried out by the housing charity Shelter and YouGov has revealed that close to 40% of UK households are just one paycheque from potential homelessness.

The survey found that 37% of respondents would be unable to cover their housing costs for more than a month with almost a quarter of those surveyed saying that they would be unable to pay them at all if they lost their job.
 
Has it ever been any different? My folks never had much money in the bank. And, for most of our married life, we didn't either.

One problem now is that credit is so easy to obtain that some people live beyond their means. When we bought our first color TV, I signed a 6 month contract to pay it off. Now, most people would just put it on their credit card. Then for some, the balance builds up and they go in a hole they can't get out of.
 
Thankfully, my kids are doing quite well. Two of my grandkids are beginning to feel the pinch pretty dearly, but one of them lost his job. He's married but they don't have any kids, so that's good at least. His wife is still working.

Michelle and I are barely hanging in there at the moment. Michelle was talking about quitting school and going to work full-time. I don't want her to do that. She was also saying she'd get a license rather than a degree - be a pre-school teacher's aid rather than primary school teacher - but I don't want her to settle for that, either.

We'll be doing a bit better when my foster-care income starts hitting the bank, but of course a lot of that will go toward the baby; half at the very least. She's growing fast, starting on "solid" food, and she's getting interested in toys.

So I'm mulling over dipping into my savings, which is substantial, but that was for our house. So we'd have to put off buying a house. I think I'd rather do that than interrupt Michelle's career path. But maybe, considering she'll survive me by quite a few decades, maybe she should have a house that's nearly paid for with a relatively small mortgage and not many years left on it.

IDK, I'm still mulling it over.
 
Murrmurr said:
Thankfully, my kids are doing quite well. Two of my grandkids are beginning to feel the pinch pretty dearly, but one of them lost his job. He's married but they don't have any kids, so that's good at least. His wife is still working.

Michelle and I are barely hanging in there at the moment. Michelle was talking about quitting school and going to work full-time. I don't want her to do that. She was also saying she'd get a license rather than a degree - be a pre-school teacher's aid rather than primary school teacher - but I don't want her to settle for that, either.

We'll be doing a bit better when my foster-care income starts hitting the bank, but of course a lot of that will go toward the baby; half at the very least. She's growing fast, starting on "solid" food, and she's getting interested in toys.

So I'm mulling over dipping into my savings, which is substantial, but that was for our house. So we'd have to put off buying a house. I think I'd rather do that than interrupt Michelle's career path. But maybe, considering she'll survive me by quite a few decades, maybe she should have a house that's nearly paid for with a relatively small mortgage and not many years left on it.

IDK, I'm still mulling it over.
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Oh,my you certainly do need a huge hug and a good break.
Sometimes it's hard to know what is the best to do ....a vote on it may help....for food for thought.
Many here to give that aide in the way of making it fair as for you too
After, all you do count in this all.
 
Autumn72 said:
Oh,my you certainly do need a huge hug and a good break.
Sometimes it's hard to know what is the best to do ....a vote on it may help....for food for thought.
Many here to give that aide in the way of making it fair as for you too
After, all you do count in this all.
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I'll take that hug, Autumn, thank you.

Michelle and I are still discussing it. We're going to do what's best for her, since she'll be here longer. She just needs to tell me what that is...and then we'll do what I think is best. ;)
 
We are so lucky, for the first time in our lives our financial situation is so easy. We actually have money left over at the end of the month. I stick the left over money in our saving account. So then if something unexpected happens we can afford it. We paid off our home, car too, so our only bills are utilities and our pharmacy bills.

We are as healthy as a couple in our 80's can be. So life is good!
 
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I think that living paycheck to paycheck is normal for most of us at some point in our lives, but at some point, it becomes a choice or habit for some of us.

The statistic that concerns me is 42% of people with six-figure incomes are living paycheck to paycheck.

Maybe it's a different world where people rely on credit instead of savings to power through the rough spots of life. :unsure:

I agree with the Delany sisters and their papa on setting a little bit aside or living below your means.

Sarah "Papa always told us to save for a rainy day. So we did!"

Annie Elizabeth "Yes, but Papa never told us it would rain this long or this hard!" 🌂🌧️☔⛈️
 
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Jace said:
Just heard on the news...64% of the population is living paycheck-to-paycheck.

Hope ya'all are doing o.k. Be financially astute!😉
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And yet you wonder why so many people are up and quitting their jobs and why so many employers can't find good help these days. Son owns a software biz in Ohio and he can't find good people - trust me he pays a good 6 figures, too!
 
Liberty said:
And yet you wonder why so many people are up and quitting their jobs and why so many employers can't find good help these days. Son owns a software biz in Ohio and he can't find good people - trust me he pays a good 6 figures, too!
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The news seems to indicate people are really dumb and dissatisfied anymore thinking it would be better to tear down the economy.
 
Liberty said:
And yet you wonder why so many people are up and quitting their jobs and why so many employers can't find good help these days. Son owns a software biz in Ohio and he can't find good people - trust me he pays a good 6 figures, too!
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Judycat said:
The news seems to indicate people are really dumb and dissatisfied anymore thinking it would be better to tear down the economy.
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It seems to me that young people these days just think every little thing they perceive as bad needs to be held accountable, every little bit of resistance they encounter is a just cause to give up.
 
Grampa Don said:
Has it ever been any different? My folks never had much money in the bank. And, for most of our married life, we didn't either.

One problem now is that credit is so easy to obtain that some people live beyond their means. When we bought our first color TV, I signed a 6 month contract to pay it off. Now, most people would just put it on their credit card. Then for some, the balance builds up and they go in a hole they can't get out of.
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Dinosaur is a jocular insult that I have heard on a few occasions. Back in the day, I, like many others, received my wages in cash, that's the filthy lucre that has a portrait of the queen on it. It didn't take long to learn that not all of that money was mine. There are bills to pay and if I didn't budget for them it would cause some serious grief.

Being strict with spending became a habit and being paid in cash allowed me to physically see how much I had, it was a useful tool in keeping out of debt. To this day cash is still my preferred method of spend, hence the dinosaur comments. When I do get a remark about paying in cash I have a retort that always gets an agreement.

Dinosaur maybe, but Big Brother has no idea how much I have spent, what I have bought, where I spent it, what I purchased and when the transaction took place. I then like to add: All that information you give freely with every plastic card or electronic purchase. Only Queen Elizabeth knows when I pay in cash, and she's not telling.
wonga.jpg
 
While living pay cheque to pay cheque is not ideal, it is much better than the alternative of your pay not being able to stretch that pay cheque to meet your needs and borrowing from Peter to pay Paul.

As long as I am able to keep a few bucks in the bank I have enough. And when I find the bucks going down then I go on what I call a Money Diet till I build it up again.
 
64% of the population is living paycheck-to-paycheck.

How does anyone know that? Was it a survey? How many people were asked? By whom?

I have seen articles on the Internet exclaiming something like "85% of Americans believe in Santa Claus".... when you read the article you find only 2500 people were surveyed. Out of billions.
 
Aunt Bea said:
The statistic that concerns me is 42% of people with six-figure incomes are living paycheck to paycheck.

Maybe it's a different world where people rely on credit instead of savings to power through the rough spots of life. :unsure:
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I think it is worse then it use to be............. but honestly because many people (that i have seen) just do whatever and "charge it" on a card.
the more credit card or phone pay features there are people do not think of it as real money............ just a tap or swipe....

The % could be wildly off because many do not distinguish paycheck to paycheck for basic vs paycheck to paycheck for tons of gadgets and non essentials.
 
Aunt Bea said:
This is the article that I saw.

https://www.cnbc.com/2022/03/08/as-...t-of-americans-live-paycheck-to-paycheck.html
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I dunno AB, this article says-

Methodology
The New Reality Check: The Paycheck-To-Paycheck Report is based on a census-balanced survey of 2,633 complete responses from U.S. consumers conducted from Jan. 11 to Jan. 18, 2022, as well as an analysis of other economic data.

Well, I'm sure they did their best, but I'm not sure of these kinds of surveys. Thanks for the info.
 

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