Only Richest 20% of Americans Still Have Excess Pandemic Savings (www.bnnbloomberg.ca)

submitted 11 months ago by yogthos@lemmy.ml to c/usa@lemmy.ml

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[-] algorithmae@lemmy.one 13 points 11 months ago

How did people not lose money during the pandemic, besides being stupid rich? The one piddly payment and unemployment I got from being laid off was way less than my normal earnings, so the cost to survive had to eat into savings and go onto credit cards. I still haven't recovered.

[-] ijeff@lemdro.id 8 points 11 months ago* (last edited 11 months ago)

Personally, working from home provided huge cost savings. I was also able to drop my personal phone to a bare minimum since I was always home and on wifi.

[-] Kalkaline@leminal.space 2 points 11 months ago

I took on a second job.

[-] Nakoichi@hexbear.net 6 points 11 months ago

HOLD THE FUCK ON.

"Pandemic Savings"

That is a hell of a fuckin way to say "Profiteering"

[-] neekz0r@lemmy.ml 6 points 11 months ago

Hold up. Top 20% in US is only about $130k. Fairly easy for a dual income house to make.

Not exactly the sort of people who are profiteering off others.

[-] PeepinGoodArgs@reddthat.com 3 points 11 months ago

I'm just below this bracket and have increased savings from the pandemic.

I go to work everyday and don't want to profiteer off anyone.

[+] tallwookie@lemm.ee -5 points 11 months ago* (last edited 10 months ago)

[deleted]

[-] Nakoichi@hexbear.net 12 points 11 months ago

"Just spend less than you earn" fucking genius lol

Why hadn't anyone thought of that before?

[-] Ashyr@sh.itjust.works 5 points 11 months ago

Where do you live? I feel like your experience is very much tempered by your cost of living.

[-] library_napper 4 points 11 months ago

It helps when you use birth control

[-] Assian_Candor@hexbear.net 5 points 11 months ago

Only rich people should have kids, only white people are rich, no I am not a eugenicist why do you ask

[-] library_napper 3 points 11 months ago

I'd argue nobody should have kids. At least for 20 years.

[-] pup_atlas@pawb.social 3 points 11 months ago

Spending less than you earn isn’t a realistic prospect for A LOT of people. In many areas the cost of living has increased so dramatically that even those pinching pennies, eating simple cheap meals like chicken and rice every night are feeling it. The inflation numbers being distributed by the government are at this point, a straight up fabrication, with no relation to how the economy is actually functioning. In terms of actual costs real people are paying, things have doubled or tripled in cost across the board since 2020 at the grocery store, not to mention how outrageous rent has become. Unless you are also doubling or tripling your income every few years, it’s easy to see where all that money is going.

this post was submitted on 27 Sep 2023

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