A Boring Dystopia

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Pictures, Videos, Articles showing just how boring it is to live in a dystopic society, or with signs of a dystopic society.

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What does it mean? (lemmy.world)

submitted 13 hours ago by zedgeist@lemmy.world to c/aboringdystopia@lemmy.world

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[–] Eyekaytee@aussie.zone 21 points 11 hours ago (1 children)

Well I mean when you say 8 in 10 are living paycheck to paycheck that got my ears up, sounds like BS to me, Americans are the heaviest spending nation on earth but you'd think they'd do a little better than 80% of them being 1 missed payday away from being broke

In contrast, the Federal Reserve found that 54% of Americans have emergency savings to cover three months of expenses. Bankrate found that while 59% of Americans are uncomfortable with their level of emergency savings, 34% are living paycheck to paycheck.

https://econofact.org/factbrief/is-there-a-consensus-that-a-majority-of-americans-are-living-paycheck-to-paycheck

[–] lemmyman@lemmy.world 13 points 9 hours ago (1 children)

Also, supposedly 41% of people earning 300-500k/yr are "paycheck to paycheck."

I couldnt find it just now, but there was a profile I read on one such person a while back. Of course, after paying private school tuition for 3 kids, monthly payments on their two Mercedes, and maxing out two 401ks, two iras, and hsa...they didn't have much money left over every month.

So I'm willing to believe that the OOP was more about this than about actual hand-to-mouth situations

[–] jacksilver@lemmy.world 3 points 7 hours ago

Yeah, paycheck to paycheck doesn't mean you are scrapping to get by, it means your monthly income is about the same as your monthly expenses.

That means it's not about your income or wealth, just cash in vs cash out. Why this can be misleading is that if you make $300k and are month to month, that means selling assets or filling chapter 11 bankruptcy could fix your finance problems. However, someone with a small income is probably already doing all they can do to survive. Both fit the definition, but their situations are vastly different.