Americans are Living Paycheck to Paycheck! Invest in your future!
What's up Sats Crew,
Today I was shocked to find out we are seeing more Americans than ever living paycheck to paycheck. It already was pretty bad at the 50% range, but now we are seeing this surpass 60%+.
With all the conditions in today's economy, you don't have to look far to see what is causing all this to happen. Like a junkie addicted to drugs, the U.S. has been addicted to cheap credit for some time now. Reality is starting to set in for many Americans... In today's podcast, I go over how these stats have been increasing significantly, while also trying to assess the reasons why Americans are living so close to the edge.
In the end, all of us are just trying to make a better life for ourselves, and with all these factors outside of our control sometimes it can be easy to give up. But Don't!!! Now is the time to succeed! In today's podcast, I go over the following:
- A CNBC Article stated that 65% of Americans are living paycheck-to-paycheck
- Huge uptick of 10%+ from last year
- What’s causing this pressure now more than ever?
- 69% indicate inflation,59% lack of savings,28% interest rates, 33% credit card debt, 21% loss of income 15% student loans
- Less than 47% of Americans have money set aside for emergencies and those that do it’s often not enough (less than $500)
- CNBC gives bad advice IMO on getting a savings account and balance transfer card
- Balance transfer is playing with snakes
- Savings account beyond a certain threshold is begging for debasement
- Study bitcoin, gold, and silver especially if we enter a recession
I would love to hear what you think! Do you remember times getting this bad in the past? I would love to hear your thoughts! As always, please feel free to share this around and support if possible. It means a lot.
Have a nice one all,
SatsMate
Article on today's podcast: https://www.cnbc.com/2024/04/09/most-of-americans-are-living-paycheck-to-paycheck-heres-why.html#:~:text=A%20majority%2C%2065%25%2C%20say,be%20living%20paycheck%20to%20paycheck.
Bitcoin Buys: https://invite.strike.me/2MSTYG
Financial Disclaimer: Nothing stated in this video is a recommendation from SatsMate to buy or sell a particular security or asset class. It would help if you wisely considered your tolerance for risk, time horizon, and financial goals before making an investment. With investing, you risk losing money, always read an investment prospectus and make an informed decision before allocating capital to a particular investment
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