I have little sympathy for most of these cases. “The Ant and the Grasshopper” were routinely shown to us and read to us when I was in grade school, and this is that story played out.
Show me a family who says they can’t afford to save, and I’ll show you a family rife with wasteful spending.
Now, add up smart phones, regular phones, computer, cable or satellite TV, special services like Netflix etc etc.
I wonder how many families could save if they cut back to just a minimal cell phone plan, antenna TV, and the cheapest computer service possible, perhaps even use the local library computers. That savings in the bank each month would add up quickly.
Another nice place to save is NO beverages bought outside the house and no designer power drinks (etc). And none of those expensive individual serving coffees. Water is still free in a restaurant. A thermos keeps coffee warm. Making ones own healthy smoothie in the blender works just fine. etc
rife with wasteful spending
And the issue I have with that is that too many families don’t prioritize. They think certain luxuries are necessities.
I will confess that I have spent money I should have saved. I will confess that I have made even more mistakes of every kind beyond that in my lifetime, many of which have impacted my financial situation in ways I would not have thought would do so at the time I made them. But that does not mean I have spent extravagantly, nor refused to work. I work seven days a week.
I saved earlier in life, to build a down payment for a house. Since then I haven’t saved a cent, though I have tried. It’s difficult to do so when you don’t get a paycheck you can plan on every two weeks. Now, approaching retirement age, I am really tying to turn that around. It is not easy. The collapse of 2008 left me taking a job out of desperation that does not pay enough to pay my bills. A bad investment in a business in 2006 that did not pan out sucked equity out of my house and left my monthly mortgage higher than it should be for the household income we have now.
I am getting work again in my field and things are looking up, but it’s very difficult to remain optimistic under such circumstances but I celebrate every tiny victory, and look at the debts I’ve paid off or continue to pay down. Attitudes such as yours, and the whispers of friends and family members, don’t help.
I don’t ask for sympathy nor advice. I just hope people realize that the world has changed and many things our parents could count are no longer there. Not everyone who has no savings is a bum.
That seems to be the general rule. There was a news article a few days ago, a McD's female worker in Oakland who welcomed the increase in minimum wages. We were all led to believe these workers were suffering from poverty and starving, couldn't make their rent, etc. The girl commented that she was happy at last and would buy an iPhone with the extra income from the minimum wage increase.
I know people barely getting by, in debt and complaining. But I glean information from conversations, and always find that they are spending money on luxuries they really don't need. One guy is skinny and complains he can't afford food; yet he spends a fortune on comic books every month ($4 and up each) as well as on movie DVDs. As you say, little sympathy for most of these cases. Live within your means and you can generally afford to save something.