A staggering 80% of American households are financially worse off than they were before COVID-19
Only the richest 20% have held onto their COVID savings.
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The advice in that article is primo out of touch and humorous. They give statistics that people's savings and assets are down X amount, and the first advice is save for an emergency. Running out of savings?! Just save more, five head.
I am reminded of that quote along the lines of “it is possible to commit no mistakes and still lose. That is not weakness, that is life.” I did everything right, and had a more than adequate emergency fund.
But then my house vaporized that emergency fund… and only then did COVID happen and I lost my job twice. So that’s roughly three “holy shit thank god we saved for a rainy day” events in three years.
I’m sure I will be in “just save money” mode some day in the future. Lots of shit left to clean up right now though.
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and only then did COVID happen and I lost my job twice. So that’s roughly three “holy shit thank god we saved for a rainy day” events in three years.
You just explained the last three years of my life. I have no savings left. Period. If anything happens to the car, or either one of us loses our jobs, we're done. That's it.
Well, you aren't "done". Life continues.
Even when the state conspires against you having shelter from weather when you're homeless. Life still goes on.
Until it doesnt.
If you stop eating Starbucks and drinking avocado toasts, you will be fine
I love that the guy who penned that gold was one of the world's richest people, and not that long ago called for increasing unemployment, so that the worker learns his place again.
Ok, yeah! I’ll just set aside the (checks notes) almost nothing I have left after food, rent, utilities, gas, and my exactly two streaming services.
yeah, I'm seeing discretionary spending right there that could be accruing interest instead. and judging by your profile pic I think you know what I'm suggesting.
Aye aye cap’n 🫡
